Morgan Silver Dollar Information thread

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Mintage and Distribution of 1879-0 Morgan Silver Dollar All with reverse of 1879 SAF

Through the 1950s the 1879-0 dollar was considered scarce in mint state, although AU pieces were plentiful
In 1957 thousands were released, and the market value plummeted. The 1962 Treasury release yielded multiple
bags. buy nothing like the quantities of other 0 Mint dollars turned loose at the time.

Die Varieties, 1879-0 O over Horizontal O Mintmark, VAM 4. This varietie is called O over Horizontal O by VAM,
who says it may be a triple punched ( But not over horizontal ) O, indicting that opinion is divided, Breen
dismisses the O over hortizontal O and calls it a triple punched O. The Top 100 Morgan Dollars Varieties calls it O
over Horizontal O and makes no mention of tripling.

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Mintage and Distribution of 1879-S Morgan Silver Dollar Reverse of 1878 PAF

A handful of let over reverses, were shipped to San Francisco in 1878 created this coinage. No records exist
as to mintage quantities, but 600,000 is my guess. simply because a half dozen or moredie pair were used.
However of even 100,000 were minted, most must have been melted under the Pittman Act, for not many exist
today.
Few ever were into circulation, and not many were in the Treasury release of later years. The Redfield horad 1976
is said to have containted mint state, but mostly bagmarked,.

Die Varieties, The 1879-S with type two reverse is often seen with minor retouching on the wing feathers of the eagle.
a curiosity also seen with the 1878-S, but no where else in the series.


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Mintage and Distribution of 1879-S Morgan Silver Dollar All with reverse of 1879 SAF

Raletively few 1879-S dollars were paid out it the time of striking. Most remained stored within the granite
walls of the San Francisco Mint. Later, hugh quantities were paid out, including in 1942, dozens if not hundreds
of dags were taken from storage. The 1962 through 1964 Treasury release yielded many more, possibly over
a million. Nearly all bags and quantities report containted 1879_s dollars of the Reverse of 1879-S SAF variety.

Die varieties, Many die varieties exist, but none are ramatic enough to cause attention.

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Mintage and Distribution of 1880 Morgan Silver Dollar All with reverse of 1879 SAF

Dollars dated 1880 were very common by the early 1940s, when many more bags were paid out from
storage in Philadelphia. In 1955, large quantities turned up in easter banks. probably hundreds of thousands
if not more vaults in the 1950s, usualy in lower mint state. By the time of the Treasury relaese of 1962 through 1964
most were out of goverment hands.

Proofs Mintage 1,355 a fifure caused by the carry along factor from those who were speculating in proof trade
dollars this year. Today, many of the proof dollars are cleaned.

Key to collecting Proofs: Good Strike. Usually with deep caneo contrst. The majority of coins have been cleaned,
(so what else is new) In case you wonder, this is why pristine, highly toned, beautiful specimens from old time collections
trample price records into dust.

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Mintage and distribution of 1880-CC Morgan Silver Dollar Reverse of 1878 PAF

No dollars were coined from November 1, 1879, to May 1880. Each month the branch forwarded samples of silver and gold coins to
Philadelphia for assaying, to assure that production was of the correct weight and fineness. In a shipment containing dollars from Carson City, minted in July 1880, one piece was found to be of insuffcient fineness, The superinrendent at Carson City was directed not to pay out any coins from that production run, and to send futher samples for testing.

Die Varieties: Most, if not all 1880-CC obverses were overdated, and some can be called 180/79 with traces of 79 showing within
the last two digits. These vaieties were first published widely in Coin World and elsewhere in the 1960s, which created a sensation, after which studies were done, including by Van Allen and Mallis, and various rerities sorted out. The variety with bold 79 digits under the 80 are VAM-4,5 and 6

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Mintage and distribution of 1880-CC Morgan Silver Dollar Reverse of 1879 SAF

See notes under 1878-CC Reverse of 1878 PAF

Die Varieties: The VAM-5 and 6 varieties, High and low 7 overdate, are popular.

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Mintage and distribution of 1880-0 Morgan Silver Dollar All reverse of 1879 SAF

Seemingly, many 1880-0 dollars were placed into circulation, remained there for just a short time, and then were returned to storage.
apparenty at the New Orleans Mint itself. About 1946 some uncirculated bags were released. making the issue plentiful, although before
the 1880-0 was not considered to be rare date, Other bags emerged from hiding cira 1956 or 1957, and in the Treasury release in 1962 the issue was well represented. However, it was never plentiful in bag quantities on the numismatic market.

Die Varieties: For the 1880-0 two different sizes and styles of mintnarks were used. The small mintmark, perfectly round in it's outside
outline, is thick and heavy, and has a relatively small interior space with the left and right sides not being parallel. The larger mintmark is
also round in it's exterior outline, but interior is narrow, sometimes with nearly parallel left and right interior surfaces. These mintmark
sizes have not been widely collected. One varietie, VAM-39, has small 0 mintmark tilted measurably to the right.

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Mintage and Distribution of 1880-S Morgan Silver Dollar All with Reverse of 1879 SAF

Similar to several other San Francisco Mint issue of the era, much of the mintage of the 1880-S seems to
have been stored in the mint, remaing there at least 1913. Many were paid out over time, including in the 1950s, In The Forcaster,
September 15, 1971, John Kamin estimated taht about 1,600,000 more came out during the Treausry release, mostly in 1963.

Die Varieties: The 180 exist in many differant die varities,. VAM-8 ,9,10 and 11, are overdated from1879, but the features are not boldly defined. However, for dedicated VAM enttusiasts these are worth seeking. For the 1880-S. S Mintmark punches of two differant sizes were used . These are nither widely noticed nor collected except by VAM enthusiasts. VAM-35 has a large open minmark tilted left.

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Mintage and Distribution of the 1881 Morgan Silver Dollar

The 1881 dollar was so commonin the East in the 1950s that the coins were a nuisance who looked through bank bags. To these were added many Mint sealed bags that were released circa 1955, By the time the Treasury releases in 1962 through 1964, this was not a date talked about. when bags were discussed, but individual coins remained common.

Proof Mintage: 984. Two die pairs made, but only one known to have benn used. With slight repunching. One reverse also used
in 1882. Mintage by quarters, 700,40,0,349, some melted.

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Mintage and Distribution of 1881-CC Morgan Silver Dollar

No dollars were minted from April 1 to October 1 1881 contributing to a low pruction for that year.
Realativly few were released in 1880s. Quantities were stored, including in the Treasury Building in
Washington, DC . Many were paided out in the 1930s, and at least a few bags more in 1954. . After
the great Treasury release was halted in March 1964, The General Service Adminisation of 1881-CC
totaled 147.485

Die varieties: Although Van Allen, Mallistext less than sid differant varieties from25 pairs of dies sent
to the Mint, none are dramatically distinctive.

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Mintage and Distribution of 1881-0 Morgan Silver Dollar

Large numbers were released in or near the year of coinage, others remained in storage. Quantities
of 1881-0 silver dollars filtered out of storage in 1950s and possable earlier, with the result that by the time of the Treasury release of 1962 through 1964 this was not a rare issue. If there had been a question, it was answered by the distribution of many more bags.

Die Varieties: 55 Obverses and 40 reverses were shiped to New orleans, Varieties are minor.

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Mintage and Distribution of 1881-S Morgan Silver Dollar.

Of all San Francisco Mint dollars in the early range of the seres, 1878 to 1904, the 1881-S has the highest mintage.
Many were released in the 19th century, probably others wre melted under the Pittman Act of 1918, but probably
most remained stored in the Sam Francisco Mint. Many bags wer released in 1938, tens of thousands were paid out in
1961, and millions more in 1962 through 1964 release.

Die Virieties: To facilitate the large coinage, 85 obverse and a like number of reverse were combined, with over 50 being listed
by Van Allen and Mullis. None are of wide spred interest, but there are enough repunchings and double minmarks to make the date
and interesting subspecialty.

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Surface Quality Can Affect Price
The Popular 1882-CC Morgan Silver Dollar

The 1882-CC Morgan Silver Dollar is an example of a coinage that is plentiful in Mint State and that, when found, is usually fairly
attractive and well struck. It is one of a half dozen or so Carson City dollars of this era from the fabulous Treasuey hoard that
came to light in quantity in the 1960s.

Of the 1882-CC only 1,133,000 were minted, a rather low figure for a Morgan dollar. It was struck at the Carson City Mint, one of
the most romantic of all minting locations, in the Wild West near the discovery of the Comstock Lode, with Wells Fargo stagecoaches rolling across the landscape.

There is a great deal of fascinating history related to the 1882-CC. Among other sources you may want to get the " Silver Dollars
and Trade Dollars of United States. " Although the mintage of the 1882-CC was small, there was little demand for such coins in circulation in the 1880s. These and other Morgan dollars were struck not for depositors of silver bullion, nor to meet any need in commerce,
but as part of a political hornswoggle, The Bland- Allison Act of February 28, 1878, Silver prices were depressed, and western mining
interests influenced politicians to buy millions if ounces of this metal and coin into the highest current denomination-the dollar.

At the Carson City Mint, these freshly minted, but commercially unneeded, silver dollarswere dumped into cloth bags containing 1,000
each, which were then tossed into vaults. The Carson City Mint ceased coining in 1893. In the early 20th century, most of the millions of coins stored there, including many 1882-CC dollaes, were shipped by rail to Washington, DC, and stored in the Treasury Building located a few steps from the White House. The dollars were largely forgetten, although now and them a few would be paid out into circulation or to those asking for silver dollars at the Treasuey's cash window. Many silver dollars with the CC mintmarks were also shipped to the San Francisco Mint, and put in vaults.

In time, the 1882-CC was viewed by numismatists as scarce. Few were aware that many hundreds of thousands remained in storage.By 1955, the market price for an Uncirculated 1882-CC dollars was $8.00 to $10.00 In that year, about 50 bags (50,000 coins) were released by the Treasury Dept. this according to dealer Steve Ruddel. who bought many of them. The market price fell to $3.00 each, or a bit less. However by 1959 the market had obsorbed these, and prices rose, soon supassing their previous highs. Beginning ni November 1962, and continuing until March 1964, there was a run on silver dollars held by banks, the Treasury Dept, and other institutions, and most stocks were cleared out.

The price of silver was rising on international markets, and silver dollars at face value seem to be a safe investment. During this time a
few bags of 1882-CC dollars were released. but the viriety remained quite scarce.
In 1964 the Treasuey stopped paying out silver dollars, and took stock of what it had on hand. For the 1882-CC this ammounted to 605,029 coins, or more than half of the original mintage. Later, the General Services Administration branch of the goverment auctioned these. Most of these would be grade MS60 to MS63, but some higher levels were found. Today the 1882-CC dollars are widely scattered. Although there are more of them in the hands of collectors than in the days when the prices were $10.00 the circle of numismatists interested in such coins has expanded vastly due to the availability of so many differant Morgan Dollars in high grade, so that price levals today are higher than in the past.

Becasue of the proceding circumstances, the 1882-CC dollar is uunusual in that in worn grades the variety is much scarcer than in mint state. I estimate that fewer than 20,000 circulated coins exist. However, they are not worth as much as the mint state coins.

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[VERMONTPACKRAT]

I will try to keep up with you as best I can with the pics of the coins that I have.

VPR

 

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VPR,

Many thanks for the pictures. I will continue to post information from the collection of
Morgan silver dollar books that I have. I have an interest in all coins. The Morgan, Large cent
and half cent are the ones I have a addiction to.

The purpose of this thread is to inform, and get others interested in starting a collection of
these wonderful old Morgan dollars. The pictures are a nice addition.

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Mintage and Distribution of the 1882 Morgan Silver Dollar.

The 1882 Morgan dollars were released in quantity in the East in early times. again in the 1950s
and last in 1962 through 1964 era.

Die Varieties: Many varieties from 58 obverse and 60 reverse dies made, but perhaps not all the
dies were used.

The 1882 Morgan dollar is the next in the continuing series of high mintage Philadelphia issues. The
quality of pieces varies from sharply struck and very attractive to weakly struck and unprepossessing.
Many coins are heavily bagmarked. Cherrypicking is advised to track down a piece that is just right, and
enough are in the marketplace that you will be crowned with success with relatively little effort.

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Mintage and Distribution of the 1882-0 Morgan Silver Dollar

Altough the 1882-0 was not a rare date and AU coins (slider) were abudant on the rare coin market
few if any of the Mint State coins gained notice until the 1950s, when a few came on the market,
as in 1953 and 1957. However most remained in storage until the great Treasury release of 1962
and early 1963, after which examples were very common.

Die varieties: Many varieties were made from 13 dies. Most were repunched date or mintmark issues.
not dramatic except for VAM 7

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Mintage and Distribution of 1882-0/S Morgan Silver Dollar

Little is know of the specific mintage and distribution of this overmintmark, as it was not closely studied
until recent decades. Exaamples have been found mixed with quaitites of regular 1882-0 dollars as a tiny
percentage of those in certain bags.

Die varieties: 1882-0/S VAM-3 ( O/S Flush), VAN-4 (O/S Recessed ), and Vam-5 ( O/S Broken ). VAM-3 in
most die states may be the best bet, but even these can be weak.

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Mintage and Distribution of 1882-S Morgan Silver Dollar.

Although many 1882-S dollars were paid out in th 19th century, it is likely that millions remained in
storage in San Francisco, and that some were tucked away in the treasury Building in Washington.
DC, At the 1926 ANA convention held in Washington, collectors were delited to buy Uncirculated
for face value at the cash window. During the 1962 through 1964 Treasury release, it is estimated
that over 1,000,000 more were disbursed, adding to an already gererous supply.

Die varieties: Although many die varieties exist form 55 pairs sent to San Francisco, none are particularly
widely collected except by specialists. VAM 20 has the S mintmark tilted significantly left, and worthy of notices.

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" The Morgan silver dollars poised to increase the most in value in the years ahead are the 1895, 1892-CC, 1894, 1878-CC, and the 1883-CC. Pretty bold prediction, eh? At this point, the reader now has three options: (1) Stop reading and act upon this information, (2) Stop reading and get on with life, or (3) Continue on, evaluate the analytical approach to identify the “Top Five” Morgan dollars, and then implement a variation of (1) or (2) above. If you’ve gotten this far, we encourage you to continue on with option (3).


The Morgan silver dollar is today one of the most popular of all collector coins. First minted in 1878 following the passage of the Bland-Alison Act, the new dollar was named after its designer, George T. Morgan. Political pressure by powerful silver mining companies, in a gambit to stabilize the price of their commodity at artificially high levels, created the impetus driving the legislative action. Bland-Alison led to the overproduction of silver dollars, resulting in millions of these unused “cartwheels” languishing in bank and Treasury vaults. Indeed, few coins have ever been released under more dubious circumstances than Morgan silver dollars. Minting continued until 1904, and then again for one more year in 1921, when the series finally came to a close.

For decades thereafter, Morgan dollars were largely snubbed by hobbyists. Many dates, including those in mint state condition, could be obtained for as little as $1.00. This situation shifted dramatically in 1962, when the US government began selling original 1000-piece silver dollar Treasury bags to the public at face value. Stories of rare dollar finds circulated widely, touching off a veritable Morgan mania. Within a matter of months, all but a small fraction of the federally owned coins were transferred from government vaults to private hands, consequently expanding the Morgan dollar collector base far beyond anything seen previously.

Since then, Morgan silver dollars have proudly perched themselves atop the catbird seat of the numismatic world. Their physical size, availability, beauty, and historical significance have consistently attracted herds of new buyers. Numerous boom-turned-bust cycles have come and gone, sometimes driven by pure speculative motives, but from a long-term perspective, most Morgan dollar prices have trended somewhat positive.

Unlike some controversial promoters in the past, I do not propose purchasing Morgan silver dollars simply as investment vehicles. However, for collectors hoping to satisfy their numismatic yearnings AND acquire coins destined to be worth substantially more in the future, Morgan dollars do present a few opportunities. As noted above, as a whole, Morgans have gained moderately in value over the years. The crucial challenge, then, is to identify which members of this series have enjoyed the best growth patterns in the past. The underlying logic is clear: coins that have demonstrated the strongest gains over a long period of time are the coins best positioned to show similar price advancements with the continued passage of time.

In order to measure past performance and thus visualize Morgans most likely headed toward a bullish future, I developed a systematic approach. First, I researched individual Morgan dollar retail prices as they existed in 1950, for a broad range of conditions, and entered this data on a computer spreadsheet. Moving forward in time, values from the years 1980, 1995, and 2000 were likewise recorded. Finally, estimated selling prices in 2005 were juxtaposed with counterpart data from those earlier years. Because grading terminology has evolved over the 55 year period, certain assumptions were made to progressively track price movements throughout the time spectrum (e.g. an “Uncirculated” value in 1950 is equivalent to the “MS-60” of today).

For each date and condition, compounded annual return rates were computed from 1950 to 2005. [Editorial note: compounded annual return rate is the accepted yardstick for comparing investment performance. Of course, coins do not grow at a guaranteed uniform rate, such as bonds do, but if a coin is purchased at a certain price, and that price is compared with the value of the coin at some later date, the compounded annual return rate can be calculated for the time period in between]. Return rate computations were made from 1980 to 2005, 1995 to 2005, and 2000 to 2005. For each Morgan dollar, the data was placed in tabular format. Next, I calculated a “composite” score for each date by averaging all the compounded return rates computed for that date. I then ranked all the “composite” scores. The Morgan silver dollars with the highest scores are as follows:

Date: Score:
1895 11.37
1892-CC 10.54
1894 10.43
1878-CC 10.28
1883-CC 10.25

So, it would appear, based on past performance over a period of 55 years, the 1895 is the Morgan silver dollar with the best hope of appreciating significantly in the years ahead, followed by the 1892-CC, 1894, 1878-CC, and 1883-CC. Not surprisingly, dollars of the Carson City Mint occupy 13 of the top 16 positions, thanks to persistent collectors scrambling for bona fide artifacts of the romantic American West. On the opposite end of the rankings, Morgan silver dollars having the bleakest long term prospects include the 1898, 1899-O, 1884, and the 1888-O, followed by the 1897 coming in dead last with a score of 2.66.

Anyone whose dual objective is to acquire Morgan silver dollars with a bullish future ought to begin looking at the “Top Five” above. Purchase coins in the best condition you can afford, but be sure the coins are clean, problem-free, and CERTIFIED by a reputable grading service. Be prepared to hold for at least five years. Morgan dollars have skyrocketed in value in the last three years, so some cooling off may be in order before the next upward cycle.

If a polling firm were to survey the population of US coin collectors, it is very possible that Morgan silver dollars would win the vote as the most appealing coin in American coinage history. These beautiful coins have been the heartbeat of the hobby for many years, with no retreat in sight. Ironically, these same coins spent the better part of a century hidden away in government vaults, unseen, unwanted, and unloved. My, how times have changed!"

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