1878 Morgan Silver Dollar
Posted : admin On 4/9/2022Early Silver Dollars
What This Coin Looks Like (Obverse, Reverse, Mint Mark Location, Special Features, etc.): USA Coin Book Estimated Value of 1878-S Morgan Silver Dollar is Worth $45 in Average Condition and can be Worth $75 to $349 or more in Uncirculated (MS+) Mint Condition. Click here to Learn How to use Coin Price Charts. Type: Morgan Silver Dollar Year: 1878 Mint Mark: No mint mark Face Value: 1.00 USD Total Produced: 10,508,000 Silver Content: 90% Silver Weight.7735 oz. Silver Melt: $20.68 Value: As a rough estimate of this coins value you can assume this coin in average condition will be valued at somewhere around $35, while one in certified mint state (MS+) condition could bring as much as $12,000 at.
1878 Morgan Silver Dollar Cc
What This Coin Looks Like (Obverse, Reverse, Mint Mark Location, Special Features, etc.):There were multiple varieties of the 1878 Morgan Silver Dollar - 7 Tail Feather Type. These varieties deal only with the coins that had only 7 tail feathers on the eagle depicted on the reverse of the coin. The earlier version originally had 8 feathers before the number was reduced. One major variety is actually 7 feathers struck over 8 feathers (7/8 doubled tail feathers) - which resulted when the engraver was updating the die to strike 7 feathers over the original 8. The difference between the 7 vs 7/8 vs 8 tail feathers 1878 Morgan dollar is depicted above in the example comparison image.
The reverse of 1878 is actually the earlier design which can be identified by noticing how the eagle had an unnaturally flat or concave breast. The easiest way to identify this variety is to look at the arrow feathers on the arrows that the eagle is holding in it's claw. The top feather is straight and parallel along with the rest of the arrows.
The later reverse of 1879 variety was changed to give the eagle a rounder and more convex breast appearance that looked more natural. Again the easiest way to identify the reverse of 1879 is to also look at the arrow feathers. Unlike the reverse of 1878 - the reverse of 1879 features a prominently slanted top feather on the arrow. The difference between the Reverse of 1878 vs Reverse of 1879 Morgan Silver Dollar is depicted below in the example comparison image with the features depicted by the arrows:
Major Varieties:
1878 Morgan Silver Dollar - 7 Over 8 (7/8) Doubled Tail Feathers
1878 Morgan Silver Dollar - 7 Tail Feathers - Reverse of 1878
1878 Morgan Silver Dollar - 7 Tail Feathers - Reverse of 1879
| Good (G-4) | Very Good (VG-8) | Fine (F-12) | Very Fine (VF-20) | Extremely Fine (EF-40) | About Uncirculated (AU-50) | Uncirculated (MS-60) | Uncirculated (MS-65) | Proof (PR-63) |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | - | - | - | - |
MELT VALUE: $21.17
5 items found
- $39.55
- $75.00Seller: TaddsCoins
Certification Agency: ANACS
Certification Number: 5096967
Condition: AU-55 - $53.50
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Free ShippingSeller: stanc
Certification Agency: Other
Certification Number: RAW
Condition: AU-50 - $45.00
Free Shipping - Seller: 4X4mike
Condition: Seems to be in VF condition
Morgan Dollars are among the most popular of all United States coinage. The series was introduced in 1878 and minted continuously until 1904, and again in 1921. The coins were generally struck in large quantities at a total of five different nationwide Mints. Whereas most issues of the series are readily available, there are some issues with low mintages or which saw heavy circulation. These mintage and condition rarities are highly sought by collectors. Some coins also display proof like qualities or have deep mirror proof like surfaces. These coins often command significant premiums and are the focus of high end collectors.
The silver dollar denomination has long been regarded as the cornerstone of the American monetary system. First minted in 1794 at the Philadelphia Mint, it was among the first silver coins struck under the name of the United States of America. However, before the Morgan Dollar series began, the denomination had often experienced long interruptions in production and often the pieces were virtually nowhere to be found in every day commerce.
The origins of the Morgan Dollar can be traced back to the Mint Act of 1873, which discontinued the Seated Liberty Dollar design. In its place the Trade Dollar was created, but intended for use primarily in trade with the Orient. The supply of silver had increased greatly following the discovery of the Comstock Lode. This increased supply was much too large for the production of Trade Dollars only, causing the silver market to fall into disarray. Direct pressure from the silver mining industry, particularly the western states, led to the creation of the Morgan Dollar.
With the passage of the Bland-Allison Act in 1878, the United States government was required to buy between two and four million ounces worth of silver every month, and convert it into silver dollars. These coins could be exchanged for gold at a fixed ratio of 16:1, meaning that sixteen ounces of silver were need for a single ounce of gold. The silver buying would be done at the current market rate, but the ratio would remain fixed despite fluctuations in the value of both metals. The measure was intended to restore the circulation of silver dollars, but large quantities of the newly minted coins would remain in storage for a very long time.
The new silver dollars featured a design by George T. Morgan, an English-born immigrant. He had had come to the United States in 1876, at the age of thirty-one, following a request by the Treasury Department. In England, he had studied and worked for the Wyon family, best known for their minting of several American colonial coinage issues. When he came to the United States, he was soon hired as assistant engraver of William Barber and started working on a large number of patterns meant for the new silver dollars. The majority of these are half dollars dated 1877, with a head of Liberty in various forms. The final design is said to have been based on Miss Anna W. Williams, a schoolteacher who lived in Philadelphia. Morgan never confirmed this, and it appears that the design was only loosely based on her.
The obverse of the Morgan Dollar depicts Liberty’s head, facing left. She wears a Phrygian cap, with the word LIBERTY on her hair band. Various agricultural features are seen, including wheat and oak leaves. Above the portrait is E PLURIBUS UNUM, with each word separated by a single dot. To the left are seven stars and another six are to the right. It must be noted that the stars are flat, thus not showing the radial lines usually found on American coinage. The date is below, and the designers initial, “M” for Morgan, is on the truncation of the neck.
The Morgan Dollar reverse features a Bald Eagle with wings outstretched with a small wreath surrounding. A branch and three arrows are within the eagle’s claws. The motto IN GOD WE TRUST is above, and the denomination ONE DOLLAR is below. UNITED STATES OF AMERICA surrounds both the wreath and eagle.
1878 Morgan Silver Dollar Cc
The design was slightly modified throughout the years. The first year of issue in 1878, with several varieties related to the number of tail feathers on the eagle. The first issues had a total of eight tail feathers, but this appeared unnatural and was later altered to seven tail feathers. In the process, a number of dies were altered, creating the 7/8 tail feather or doubled tail feather variety. Although this is a variety, it is often collected as a regular issue and included in most sets. The Morgan Dollars struck in 1921 were made from completely different hubs, and show many design differences on both sides.
How Much Is A 1878 Morgan Silver Dollar Worth
A complete basic set of Morgan Dollars by date and mint mark consists of 97 coins and represents a major accomplishment to complete in any grade. Some collectors spend decades assembling the series in certified coin holders or coin albums. The series is also often collected by die varieties, usually cataloged by VAM numbers (standing for Van Allen/Mallis, the authors of the main reference on the subject).