Morgan Dollars Through the Years: The Story and Mintages

Morgan dollars have a history that stretches across more than a century and includes a lot of mintmarks, mintage figures, and rare varieties; these coins reflect the U.S. economy and culture of the late 19th and early 20th centuries. They represent an enduring fascination for collectors worldwide. 

Today, we’re going to tell you more about the history of Morgan dollars, break down morgan dollar mintages numbers year by year, and highlight some of the most expensive pieces in a coin value checker​. 

Additionally, we’ll discuss the resurgence of the Morgan dollar in recent years, with reissues in 2021 and 2023 that have brought the coin back into the spotlight.

The History of Morgan Dollars

They were initially introduced in 1878. The Morgan dollar was named after its designer, George T. Morgan, an English engraver who became the Assistant Engraver at the U.S. Mint. His design was selected as part of the larger remonetization efforts following the Coinage Act of 1873. 

This ended the free coinage of silver and sent shockwaves through the American silver mining industry. The Morgan dollar was born out of this political backdrop, as the Bland-Allison Act of 1878 required the U.S. Treasury to purchase large quantities of silver to coin into dollars.

Morgan’s design was rather symbolic and artistic. On the obverse, Liberty is depicted wearing a Phrygian cap. She is crowned with agricultural staples like wheat and cotton. They together symbolize America’s agrarian roots and industrial progress. 

The reverse shows an eagle clutching arrows and an olive branch, a representation of both peace and military readiness. The coin’s size, beauty, and design made it rather famous among collectors. However it’s the varying mintages and mintmarks that make it such an interesting series for numismatists.

Morgan Mintages and Their Significance

Morgan dollars were minted in five U.S. Mint facilities: Philadelphia (no mintmark), New Orleans (O), Carson City (CC), San Francisco (S), and Denver (D, only in 1921). The coins struck at each mint carried their own history and significance, especially the Carson City (CC) mint, which produced some of the rarest and most coveted Morgans. 

Due to its smaller output and the historical part of the Old West, Carson City Morgans like the 1889 CC Morgan silver dollar mintage (there were only 350,000 coins minted) are highly wanted by collectors.

How Many Morgan Silver Dollars Are There?

In total, more than 600 million Morgan dollars were minted from 1878 to 1904 and again in 1921. But those figures don’t tell the full story. Many Morgan dollars were melted down over the years, particularly after the Pittman Act of 1918, which led to the melting of 270 million silver dollars to support World War I efforts. This means that while the original mintages might seem large, the actual number of surviving Morgans is much smaller, particularly for rare dates and mintmarks.

By the way, there are many other series of US coins, e.g., 1982 quarters.

Key Dates and Rarities in Morgan Dollars Mintage

There are a lot of Morgan dollar years and mintages as we have already discussed, but certain dates stand out for their rarity and value. These include:

• 1878 CC Morgan silver dollar mintage: Only 2.2 million were minted in the coin's inaugural year.

• 1889 CC Morgan silver dollar mintage: This is one of the most famous rarities, with a mere 350,000 coins struck.

• 1893-S Morgan silver dollar mintage: With just 100,000 minted, this San Francisco coin holds the record for the lowest mintage in the series.

• 1895 Morgan silver dollar mintage: It is known as the "King of Morgan Dollars". Fewer than 880 proof coins were made, and none were minted for circulation.

Other famous and rather expensive rarities are the 1884 CC Morgan silver dollar mintage, the 1890 CC Morgan silver dollar mintage, and the 1894 Morgan silver dollar mintage. Each has low mintages that influence their high desirability among collectors.

Morgan Dollar Mintage Varieties and Values

The value of Morgan dollars depends on their mintage numbers, mintmarks, and condition. For example, circulated Morgan dollars from common years can be acquired for relatively affordable prices. Whereas key date coins in uncirculated or proof condition can cost thousands of dollars at auction. Below is a table that shows the mintage numbers and approximate values for some of the most sought-after Morgan dollars:

Disclaimer: The prices of different morgan dollar years and mintages are average and may differ from current market situations. You should better check out Morgan dollar mintages and values in grading offices or auction houses. There, you can also find out prices of international coins like Moneda 50 pesos 1982 and 1984.

The Return of the Morgan Dollar: 2021 and 2023 Editions

After a century-long hiatus, the Morgan dollar made a return in 2021 to commemorate the centennial of its final mintage in 1921. These new releases were struck at the Philadelphia, Denver, and San Francisco mints. They reignited interest in the classic coin series. The 2021 Morgan silver dollar mintage was capped at 175,000 coins per mintmark, with a special 2021 CC Morgan dollar mintage that paid homage to the famous Carson City issues.

In 2023, the U.S. Mint took things further with the introduction of the 2023 reverse proof Morgan and Peace dollar mintage. It was a modern twist on two coin designs. These reverse proof editions, struck in limited quantities, feature a stunning finish that contrasts sharply with the traditional frosted design of proof coins.

Why Are Morgan Dollars Desirable by Collectors?

Morgan dollars, first of all, show America’s past with mints of New Orleans or the famed Carson City Mint, where Wild West history comes to life. There are varying Morgan dollar mintage by year, and collectors can trace the ebb and flow of silver production, economic shifts, and even the political landscape through the history of these coins.

If the modern collector understands Morgan silver dollar mintage variations and their values, they can build a meaningful collection. You may be after circulated Morgan dollars for their affordability or after the rare Morgan silver dollar CC mintage for its extreme scarcity, anyway the series list of Morgan silver dollars has something for every level of collector.

As the U.S. Mint continues to reissue these historic coins, with new 2023 Morgan silver dollar mintage numbers catching the eye of numismatists, the legacy of George T. Morgan’s design lives on, and proves that these silver coins are as relevant today as they were over a century ago.

We have discussed different rare and common coins, e.g., the 1889 O Morgan silver dollar mintage or the 2021 Morgan dollar mintage. These series offer collectors an opportunity to learn more American history. That’s why Morgan dollars remain a basis of American numismatics.

Sources:

1. https://en.wikipedia.org/wiki/Morgan_dollar

2. https://morgandollars.net/morgan-dollar-mintage/