Collecting rare coins can be fun and memorable. The coins are often used to preserve historical facts of a given period. So, as a collector, you might be considering getting a Morgan silver dollar. However, before you do it can help to find out more about its history. The idea is to get information that helps you understand why the coin has value. Read on as this blog explores the history and legacy of the Morgan Silver Dollar.
Origins of the Morgan Silver Dollar
The Morgan silver dollar was designed by George T. Morgan and was first minted in 1878. It was produced as a stable currency system to serve the growing demand which was caused by rapid industrialization. It was mandated by the Bland-Allison act of 1878, which authorized the U.S treasury to buy silver and mint it into dollars.
The coin was well-received by the public as many people saw it as a symbol of American growth and prosperity. It was produced in substantial volumes, and the production was tied to the economic policies of the period. Over time, the coin’s popularity reduced, and the demand for silver dollars decreased. Its production was discontinued in 1904, although it was still in circulation, and people were using it to transact.
The Design and Its Significance
Many aspects made the design by George T. Morgan to be a pioneering one. On the front side, it portrays liberty with hair that’s flowing in a classical style, capped and having a laurel wreath. The idea is to symbolize freedom and victory. Her headband bears “LIBERTY” while her neck below is where the date is placed. The coin’s backside has an eagle of heraldry with spread wings that depict national unity and power. There are arrows and olive branch that signify eagerness to fight and love for peace.
As an art, Morgan’s design was not only beautiful but also laden with symbolism. Liberty’s profile was widely believed to reflect American ideals, while the eagle, on its reverse, stands as a symbol of America’s ambition. The intricacy with which he made this piece, including his delicate lines and textures, showed off his engraving skills and contributed to this coin being attractive.
Legacy and Collectability
While the Morgan silver dollar is no longer in circulation, it’s still a valuable and sought-after coin among collectors. Its appeal can be attributed to its historical significance and intricate design. Collectors often see it as a symbol of America’s transformative period.
Investing in it can be smart due to its limited supply and rich historical value. You can keep it, enriching your coin collection or as an investment instrument as its value is likely to appreciate over time.
Conclusion
Your coin collection is incomplete if you’re yet to get the Morgan silver dollar. It is a coin with huge historical significance and high value. Look for a reputable dealer who buys and sells rare coins. The plan is to get more information on the Morgan silver dollar and why to consider buying it.
