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Morgan 1890-CC Coins Plated-Silver

Morgan 1890-CC Coins Plated-Silver

Regular price $1.04 Sale price $4.16

The Morgan dollar was a United States dollar coin minted from 1878 to  1904, and then again in 1921. It was the first standard silver dollar minted  since production of the previous design, theSeated Liberty dollar , ceased due to the  passage of the Coinage Act of 1873 , which also ended the free coining of silver . The coin is named for  its designer, United States Mint Assistant Engraver George T. Morgan . The obverse depicts a profile portrait representing Liberty , while the reverse depicts an eagle  with wings outstretched.

The dollar was authorized by the Bland–Allison Act . 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.  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. In 1890, the Bland–Allison Act was  repealed by theSherman Silver Purchase Act , which required the  Treasury to purchase 4,500,000 troy ounces (140,000 kg) of silver each month,  but only required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. This act, in  turn, was repealed in 1893.

In 1898, Congress approved a bill that required all remaining bullion  purchased under the Sherman Silver Purchase Act to be coined into silver  dollars. When those silver reserves were depleted in 1904, the Mint ceased to  strike the Morgan dollar. The Pittman Act , passed in 1918, authorized the  melting and recoining of millions of silver dollars. Pursuant to the act, Morgan  dollars resumed mintage for one year in 1921. The design was replaced by the Peace dollar later the same year.

In the early 1960s, a large quantity of uncirculated Morgan dollars was found  to be available from Treasury vaults, including issues once thought rare.  Individuals began purchasing large quantities of the pieces at face value, and  eventually the Treasury ceased exchanging silver certificates for silver coin. Beginning  in the 1970s, the Treasury conducted a sale of silver dollars minted at theCarson City Mint through the General Services Administration . In 2006,  Morgan's reverse design was used on a silver dollar issued to commemorate the old San Francisco Mint building.

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