![]() In 1898, Congress approved a bill that required all remaining bullion purchased under the Sherman Silver Purchase Act to be coined into silver dollars. This act, once again, was repealed in 1893. In 1890, the Bland–Allison Act was repealed by the Sherman Silver Purchase Act, which required the Treasury to purchase 4,500,000 troy ounces (140,000 kg) of silver each month, but only required further silver dollar production for one year. Instead, the Bland–Allison Act was passed, which required the Treasury to purchase between two and four million dollars' worth of silver at market value to be coined into dollars each month. Following the passage of the 1873 act, mining interests lobbied to restore free silver, which would require the Mint to accept all silver presented to it and return it, struck into coin. The dollar was authorized by the Bland–Allison Act. The mint mark, if present, appears on the reverse above between D and O in "Dollar". The obverse depicts a profile portrait representing Liberty, modeled by Anna Willess Williams, while the reverse depicts an eagle with wings outstretched. The coin is named after its designer, United States Mint Assistant Engraver George T. It contained 412.5 grains of 90% pure silver (or 371.25 gr = 24.056 g = 0.7735 oz t of pure silver). It was the first standard silver dollar minted since the passage of the Coinage Act of 1873, which ended the free coining of silver and the production of the previous design, the Seated Liberty dollar. ![]() 90% silver dollars, including Morgan Dollars, Peace Dollars and Commemorative Silver Dollars from the US Mint, are available in a wide range of dates, mint marks and designs.The Morgan dollar is a United States dollar coin minted from 1878 to 1904, in 1921, and beginning again in 2021. Silver Coins are also popular with coin collectors due to the variety of available designs. 90% Silver Dollarsīuying Silver Bullion Coins has become a popular choice for investors looking to diversify their portfolio in hopes of preserving future wealth. By Decemthe first Peace Dollars were struck and continued to be minted every year until 1928. Weinman (Mercury Dime and Walking Liberty Half Dollar), and Herman A. Then, in Novermeber 1921, a competition for the coin's design was held and a 33 year-old Italian immigrant, Anthony De Francisci won beating out several well-known designers in thecoin world such as Victor D. In May of 1921 the Peace Dollar bill was submitted. The ANA completely supported the idea and quickly created a committee to present the idea to Congress. The idea of producing a coin that would commemorate world peace was first brought forth at a 1920 American Numismatic Association (ANA) convention in Chicago by a man named Farran Zerbe. The Pittman Act also required that the government purchase more silver in order to replace the melted coins allowing for the Morgan to return briefly in 1921 until being replaced by the Peace Dollar. In 1918, Congress passed the Pittman Act to replenish the reserves by officially melting millions of the silver dollars that were being kept in treasury vaults (over 270 million Morgan Dollars were melted). By 1904 over 500 million Morgan Dollars were created and the government's silver reserves were depleted. As a result of this act, the Morgan Silver Dollar was born. However, the Bland-Allison Act passed five years later in February 1878 ot only restored silver as legal tender, it also stated that the government would mint 2 million silver dollars each month. Years prior to production of the Morgan Dollar, the Coinage Act of 1873 was passed in Congress ceasing production of all silver coinage in the U.S. ![]() Morgan, the English engraver who designed it. Mint from 1878-1904 and then again for one more year in 1921. ![]() Morgan Silver Dollars were produced by the U.S. ![]()
0 Comments
Leave a Reply. |