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1878 Silver Dollar Collecting Tips And Information

The 1878 silver dollar has been a collectors premier item because they are rare and only a limited amount of them still exist. People all over the United States have been collecting these coins but the 1878 silver dollar has much meaning to it. Before we go into detail about the specific item, let me give you a history on where the morgan silver dollar came from and why they are around.

The 1878 silver dollars design was 1878. The coin was minted from 1878-1921. The was the first dollar coin since the seated liberty coin. The seated liberty dollar coin was ceased when gold became the standard of currency. As an alternative they designed the 1878 morgan dollar and it became into production that year. The designers name was George T. Morgan. The coin design was accepted by the Bland Allison act. Some dollar coins have a prefix as CC (Carson City), S (san Francisco), O (New Olean’s) or D for Denver.

The design of the coin began in 1876 with many design coming in. one came from William Barber but did not pass in the inspection and the design that was chosen for the 1878 silver dollar was by Mr. George T. Morgan. When design was sent to Philadelphia on October 9, 1876 the coin was only intended to count as a half dollar. Morgan enrolled as a student and soon embarked on designing a new head for the coin. The draft was accepted and was issued on the 1878 silver dollar. The dies were casted for the silver dollar. The composition of material used was 90% silver and 10% copper. Since most of the material used was silver, they called it the 1878 silver dollar. The dollar was first manufactured in San Francisco and Carson city. The New Orleans collector’s item was started in 1879. The Denver coin began in 1906 as well.

As the Sherman silver purchase Act went through in 1893 the 1878 silver dollar and all other years were going strong. The act enabled 4,500,000 ounces of silver to be purchased each month. People thought that inflation would happen and the dollar coin would devalue. The 1878 morgan silver and continuing years kept on being produced. The coin was produced with the same amount of composition of silver and was minted until 1904. Copies and reissues occurred over the years but the original minting of the 1878 silver dollar only happened during that year.

What so great about the 1878 silver dollar?

The thing that made the 1878 silver dollar very unique from the rest of the silver dollars produced is that it is the very first one. This had the original design in the 1878 silver dollar and all the original dies casted to created it was only done for that year. Some of the years they may have changed it by putting 7 feathers for example and it also matters the location the coin was produced. But the rarest 1878 silver dollar you can find is the first year it was made as well as in Philadelphia. This is where they designed it and first manufactured it.

Some, these morgan silver dollars have not much meaning but to other and collectors the 1878 silver dollar can be among the most valuable collectable of the 1878 silver dollar series. It captures a piece of American history and shows that all is not lost from the past. Although the prices of these coins grow in value exponentially, to have one in your possession is having a piece of American history.