Philadelphia Mint Morgan Dollars - The First 5 (1878-1882)

Set includes

This must-have set of the first five Morgan Silver Dollars from the Philadelphia Mint comes to you in Very Fine condition or better and exquisitely boxed for protection and display.

What are Morgan Silver Dollars?

The “Wild West” holds a special place in the hearts of all Americans – and this fabulous coin collection brings back the romance and allure of the “Wild West.” The Morgan Silver Dollar was a very sought after coin during the days of the Wild West. Morgans have always been in great demand, due to its solid silver content, original design, and large size.

Coin History

Morgan Silver Dollars have often been referred to as the “Classic American Coin” of all time.

The coin was struck in .900 pure silver from 1878-1921. Because of its hefty size and solid silver content, the Morgan Silver Dollar was the favorite coin of settlers, outlaws, and prospectors alike in the “Wild West.” Back East, the new paper dollar bills were gaining popularity, but paper money never caught on in the west.

The Comstock Lode in Nevada was the greatest silver discovery in American history. The lode was discovered in 1859, and by the time it ran out of silver around the turn of the 20th century it had produced about half a billion dollars in silver. The classic Morgan Silver Dollar was introduced in 1878 in an effort by the U.S. Government to use up large amounts of silver from the Comstock Lode.

One of the most important mining discoveries in American History, the Comstock Lode was the first major silver discovery in the United States and virtually ended the California Gold Rush. It was named for Henry Comstock, part-owner of the property on which it was discovered in June 1859. Ironically, Henry Comstock left the area broke in 1862, and in 1870, he killed himself, dying penniless.

This large silver coin was known as a “cartwheel” because of its large size. To add to its collector appeal – and to make a direct connection to the “Wild West” – the silver that was used to make this coin came from the famous Comstock Lode in Nevada. This was America’s most famous silver strike, and it attracted many settlers to the West.

Unlike the branch mints in New Orleans, Denver, and San Francisco, the U.S. Mint in Philadelphia did not place its mint mark on coins. The Philadelphia Mint was the original U.S. Mint, and it was always understood that coins with no mint marks were from Philadelphia.

The Morgan Silver Dollar is named for its designer, George T. Morgan, who designed the coin by hand while working for the US Mint as an engraver. The obverse portrays the ancient symbol of freedom - Lady Liberty wearing a slave’s cap and the inscription of “Liberty” on a ribbon. The reverse features the bald eagle – the classic symbol of American strength and pride, holding the olive branch of peace and arrows of war.

Key Facts & Figures

Did you know that the Morgan Dollar was the largest silver coin ever made for general circulation? The sheer size of it is truly staggering – The Morgan measures 1-1/2 inches in diameter and contains over 3/4 ounce of pure silver. The overall silver purity is the standard .900 pure, which has since been replaced by the new .999 standard.

The Morgan Silver Dollar was minted only during the years of 1878-1904, and then again in 1921.

Why are Morgans so Rare?

During World War I, the government needed money to supply the US Military with its needs, and they came up with a clever idea. Instead of printing money, they decided to “melt” money. Yes, they actually melted coins in order to pay for the huge expenses incurred by joining the war.

Since there was so much silver in each Morgan coin, the government melted millions of them during the 1920s for World War I, then again in the 1940s they melted millions more to pay for World War II.

Once the melt craze began, it never stopped. When silver reached $50 an oz. in the 1980s, millions more were privately melted by citizens who extracted the value of the underlying silver rather than the value of the coin on the market.

Also, many more coins were lost or worn out during the original circulation period between 1878-1921.

Due to all these factors, only a small number of Morgan Silver Dollars still remain in existence, a small fraction of their original numbers.

Fun Fact: The only year that Morgan Silver Dollars were minted at the Denver (D) mint, was in 1921 when almost half of that year’s coins were minted there.

Obverse Facts

The profile on the obverse (front) side of the coin is Lady Liberty. Her liberty cap includes a ribbon inscribed with the word “LIBERTY” and two cotton blossoms and two heads of wheat to represent American agriculture.

Supposedly, a Philadelphia schoolteacher named Anna Williams was the model for Lady Liberty.

The thirteen stars around the border represent the original thirteen colonies at the time of the American Revolution.

There is a tiny “M” at the base of Lady Liberty’s neck. It is the initial for George T. Morgan, the coin’s designer.

The Latin motto “E Pluribus Unum” stretches above Lady Liberty’s head. Of course, those words mean “Out of many, one,” referring to the Union of the States. That inscription appears on all US coins and has become the unofficial motto of the nation.

Reverse Facts

The reverse displays an American eagle with outstretched wings. In one talon it holds an olive branch, representing peace, and in the other talon, it holds arrows, symbolizing that although the United States is a peace-loving nation, she will defend herself with mighty power when the need arises.

The coin was sometimes referred to as the “Buzzard dollar” because people mistakenly thought the bird on the reverse side of the coin looked like a buzzard. This was untrue. Just like many other US Coins, the design was of the great symbol of American power – the bald eagle.

“In God We Trust” appears on the coin above the eagle’s head. Above that are the words “UNITED STATES OF AMERICA.”

George T. Morgan’s initial “M” appears on both sides of the coin. On the reverse, the tiny “M” is on the left-hand side of the ribbon at the center of the laurel wreath.

On coins that display a mint mark, it is shown at the bottom center, between the wreath of laurel and the words “ONE DOLLAR.”

The Morgan dollar was minted at five different branches of the U.S. Mint. If the coin is marked “CC” it was minted in the now-defunct mint at Carson City, Nevada. If the coin is marked “O” it was minted in the also defunct mint at New Orleans, Louisiana. If the coin is marked “S” it was minted in San Francisco. If the coin is marked “D” it was minted in Denver, Colorado. Of course, in the absence of any mint mark, that indicates that the coin was minted in the Philadelphia branch of the US Mint.

Philadelphia Mintage Figures

1878 10,500,000

1879 14,806,000

1880 12,600,000

1881 9,162,991

1882 11,100,000

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