US Coins – The Morgan Dollar vs. the US Silver Eagle: An Introduction

The Morgan Silver Dollar and the American Silver Eagle

By Ron DrzewuckiWholesale Modern Coins …..

the dollar morgan was born from two impulses.

One was the curious political alliance of populist “free money” supporters – who wanted a bimetallic monetary standard (gold and silver) and inflationary monetary policy in order to alleviate the crippling debt of many American farmers – and the mines. of western money, who wanted to earn a profit. After a five-year economic depression, Congressman Richard Bland (D-MO) and Sen. William Allison (R-IA) co-sponsored a bill in 1878 which became known as the Bland–Allison Law. He demanded that the US Treasury buy $2-4 million worth of silver each month at market prices. The silver would then be used to make new silver dollars in circulation.

morgan_dollarThe other was the embellishment of the US currency. Once Congress defeats the President Hayes’ initial veto, Mint Director Dr. John Linderman English engraver George T. Morgan to design the new part. Passing over more experienced engravers and believing that Morgan’s skills were superior to what could be found elsewhere at the mint, Linderman wanted to create a mint worthy of an America newly aware of its potential on the world stage.

Many would say he did just that. Named after its creator, the Morgan dollar is a classic. It is the most popular collector’s item on the market and responsible for one of the biggest booms in the history of the hobby. But when it first came out, demand was so low that the vast majority of Morgan dollars ended up in Mint vaults, and most of them were melted down under the Pittman Act of 1918.

Covering the years 1878-1904 (not including its single minting in 1921), the Morgan dollar run fits well with what many people consider to be the classic American “Wild West” era. The glamor and romance of the Morgan dollar appeals to collectors like no other coin series.

This includes San Francisco issues from the early 1880s. The San Francisco mint was the most technologically advanced mint in the world and the quality of its minting was second to none. For Morgan dollar collectors, S-Mint coins offer the best chance to see and appreciate every detail of George T. Morgan’s impressive design.

Again, the Morgan dollar is America’s most popular and collected coin. In terms of beauty, historical association and price, no other coin comes close.

Unless you consider the American Silver Eagle.

the American silver eagle bullion program is one of the great modern successes of the United States Mint.

First issued in 1986, these one troy ounce silver bullion coins (with a face value of one dollar) are not just for precious metals investors. The classic yet modern design gives it an appeal that few other recent pieces can match.

ESAMore than a hundred years after the launch of the Morgan dollar, the government’s approach to money had taken what looked like a 180 degree turn. President Ronald Reagan wanted to sell excess money from the National Defense Reserve. Congress and silver mining interests opposed the sale for fear that it would drive down the price of silver on the open market. They were right, and Congress quickly put a stop to further sales.

But Reagan was still interested in getting rid of government money. So in 1985, Congress passed a law requiring that any excess silver that could be sold be disposed of in the form of coins. That way, once the excess product hits the market, it won’t have a negative impact on prices. This is how a modern day classic was created!

The coin itself features two stunning designs. A much-loved favorite of collectors and the general public, by Adolph Weinman “Freedom on the march” (or Liberty Walk) adorned the obverse of the American Silver Eagle nearly 40 years after it last appeared on the circulation strike half dollar. The reverse houses an impressive contemporary version of the heraldic eagle, rendered by the ever-popular former Mint engraver. John Mercanti.

Combine fantastic artwork with the accessibility of silver to the average coin or bullion investor, and you have the perfect recipe for a perennial bestseller. Even after defense silver stocks ran out, the program was so successful that it was renewed in 2002 and continues to this day.

This means that the demand for this coin is so high that the government is now purchase money at market rates just to produce Silver Eagles!

And these production cycles include a number of different options for the consumer. Parts are manufactured in Philadelphia, San Francisco and West Point. Typing and finishing also vary. Examples include Regular, Proof, Burnished, Cameo, and Reverse Proof. Regular issues do not have a mint mark; Proof and burnished coins show where they were made.

The best of all? Fine certified specimens of this 99.9% pure silver bullion coin can be obtained for little money.

-Ron


Certified Morgan dollars currently available on eBay

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