The Carson City Mint opened in 1870 and operated for a mere 23 years before closing in 1893. Its location was selected to take advantage of Nevada’s famed Comstock Load of silver ore. Once the Comstock Load was depleted, the facility was closed. As such, Carson City Mint Morgan Silver Dollars are the rarest and most sought after Morgans, especially coins from the first year of issue (1878) as these coins are. While Uncirculated specimens are very rare and quite expensive, these hand selected EF (Extra Fine) Carson City Morgans are an affordable way to add these unique coins to your collection.
The Morgan Silver Dollar is named after its designer George T. Morgan who was an engraver with the United States Mint in Philadelphia. The obverse portrays Lady Liberty wearing a slave’s cap (an ancient symbol of freedom) with the word Liberty inscribed on a ribbon. The reverse features an American eagle holding both the olive branch of peace and arrows of war.
This is the largest US silver coin ever made for circulation: it is almost 1-1/2 inches in diameter and it contains over 3/4 ounce of .900 pure silver. Due to their high silver content, more than 50% of all Morgan Silver Dollars were melted by the U.S. Government to help cover the costs of World War I. Millions more were melted for World War II. And even more were privately melted in the 1980s when silver reached $50 an ounce. As a result just a fraction remain today, with even fewer available from the Carson City mint.
5 Comments
Mr. Bressett is correct about the millions of silver dollars melted for their silver content. My question : Is there any real way of knowing of just how many silver dollars left?? Seems to me that close to 70% to 80% were melted since WW I. Any thoughts?
I believe there are more morgan dollars out there that have not so rare dates. People horded these things like crazy back in the 60′s and 70′s. It seems that the only ones that are really held back and not for sale are the very rare types. I see them on E-bay all the time. If you need a specific date of a Morgan Dollar, I can get you one in a heart beat. I collect them myself and have some from all mints. The Carson City’s are outrageous in price.
Back to your question though, I know there are more out there than you think. Bags and Bags of these have been and are still hoarded in the banks. If they let them into the market though, it would kill the numismatic society so there is some horse play with the government and just how many are available.
found this coin that says one penny and some stuff obout charter dec 14th 1887 it also says keystone chaper no 172 R.A.M midland,texas can you help!!!!!!!
Joe,
I coin you have is a Royal Arch Masons (R.A.M.) membership coin. These coins at one time were of great value to the person whom it was presented. Many have been produced with various designs for the many Masonic chapters around the country. Depending on the condition of the coin, it can be worth as much as $10.
Thanks for your question.
Tim
American Historic Society Editor
I believe my grandmother has some Mint Silver Mogan dollars; the ones I saw are dated 1879, 1885, and 1891. where i get an appraisal of their value?