Morgan Silver Dollars

One of the most popular coins to collect are Morgan Silver dollars. These coins were minted from 1878 to 1904 and again for one more year in 1921. Morgan Silver dollars from Carson City remain popular among Morgan dollars, due to their low mintage. 

Brief History

The Comstock Lode, one of the greatest silver strikes in history, was discovered in Nevada in the late 1850s. The strike put downward pressure on silver prices worldwide. In 1878 Congress passed the Bland-Allison Act which required the Treasury Department to purchase large amounts of silver, and to strike it as coins. For reasons of economy, the Treasury chose to strike the silver as dollars.
When the dollar was minted in 1878, it was the first dollar issued for American commercial use since the last Seated Liberty Dollar of 1873. The Trade Dollar was minted during this time period but was intended to be used for trade in the Orient. The dollar was continuously minted until 1904 when the supply of dollars in circulation was high and there was an absence of silver bullion. Then in 1918, the Pittman Act called for over 270 million coins to be melted for silver content. In 1921, the coinage of the Morgan Dollar resumed for that year and was replaced by the Peace Dollar commemorative that would become standard issue. Since 1921, many Morgan Dollars have been melted. Melting has mostly occurred when silver prices escalated because these dollars yield silver bullion.
Caches of Morgan Dollars produced at the Carson City Mint were discovered and were sold to coin collectors by the federal government in the early 1950s. Many of these dollars were uncirculated and are called GSAs (named after the General Services Administration) and come in black plastic holders that mimic the holders used for proof silver Eisenhower dollars of the period. These have become collectible items within the GSA encapsulation.

The Comstock Lode, one of the greatest silver strikes in history, was discovered in Nevada in the late 1850s. The strike put downward pressure on silver prices worldwide. In 1878 Congress passed the Bland-Allison Act which required the Treasury Department to purchase large amounts of silver, and to strike it as coins. For reasons of economy, the Treasury chose to strike the silver as dollars.

When the dollar was minted in 1878, it was the first dollar issued for American commercial use since the last Seated Liberty Dollar of 1873. The Trade Dollar was minted during this time period but was intended to be used for trade in the Orient. The dollar was continuously minted until 1904 when the supply of dollars in circulation was high and there was an absence of silver bullion. Then in 1918, the Pittman Act called for over 270 million coins to be melted for silver content. In 1921, the coinage of the Morgan Dollar resumed for that year and was replaced by the Peace Dollar commemorative that would become standard issue. Since 1921, many Morgan Dollars have been melted. Melting has mostly occurred when silver prices escalated because these dollars yield silver bullion.

Caches of Morgan Dollars produced at the Carson City Mint were discovered and were sold to coin collectors by the federal government in the early 1950s. Many of these dollars were uncirculated and are called GSAs (named after the General Services Administration) and come in black plastic holders that mimic the holders used for proof silver Eisenhower dollars of the period. These have become collectible items within the GSA encapsulation.

Mintages:

Year Mint mark Mintage Year Mint mark Mintage
1878 8TF   750,000 1890 S 8,230,373
1878   9,759,550 1891   8,694,206
1878 CC 2,212,000 1891 CC 1,618,000
1878 S 9,774,000 1891 O 7,954,529
1879   14,807,100 1891 S 5,296,000
1879 CC 756,000 1892   1,037,245
1879 O 2,887,000 1892 CC 1,352,000
1879 S 9,110,000 1892 O 2,744,000
1880   12,601,355 1892 S 1,200,000
1880 CC 591,000 1893   378,792
1880 O 5,305,000 1893 CC 677,000
1880 S 8,900,000 1893 O 300,000
1881   9,163,984 1893 S 100,000
1881 CC 296,000 1894   110,972
1881 O 5,708,000 1894 O 1,723,000
1881 S 12,760,000 1894 S 1,260,000
1882   11,101,100 1895 O 450,000
1882 CC 1,133,000 1895 S 400,000
1882 O 6,090,000 1896   9,976,762
1882 S 9,250,000 1896 O 4,900,000
1883   12,291,039 1896 S 5,000,000
1883 CC 1,204,000 1897   2,822,731
1883 O 8,725,000 1897 O 4,004,000
1883 S 6,250,000 1897 S 5,825,000
1884   14,070,875 1898   5,884,735
1884 CC 1,136,000 1898 O 4,440,000
1884 O 9,730,000 1898 S 4,102,000
1884 S 3,200,000 1899   330,846
1885   17,787,000 1899 O 12,290,000
1885 CC 238,000 1899 S 2,562,000
1885 O 9,185,000 1900   8,830,912
1885 S 1,497,000 1900 O 12,590,000
1886   19,963,886 1900 S 3,540,000
1886 O 10,710,000 1901   6,962,813
1886 S 750,000 1901 O 13,320,000
1887   20,290,710 1901 S 2,284,000
1887 O 11,550,000 1902   7,994,777
1887 S 1,771,000 1902 O 8,636,000
1888   19,183,832 1902 S 1,530,000
1888 O 12,150,000 1903   4,652,755
1888 S 657,000 1903 O 4,450,000
1889   21,726,811 1903 S 1,241,000
1889 CC 350,000 1904   2,788,650
1889 O 11,875,000 1904 O 3,720,000
1889 S 700,000 1904 S 2,304,000
1890   16,802,590 1921   44,690,000
1890 CC 2,309,041 1921 D 20,345,000
1890 O 10,701,000 1921 S 21,695,000

Source: Wikipedia