The History of Coins – 1921 Morgan Silver Dollar | Sahara Coins Education

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1. 1921 Morgan

a. The Morgan Silver Dollar was minted from 1878-1904 and again in 1921. In 1904 Silver Bullion became scarce and minting stopped. But in 1921 It was minted for another year. Some people ask why? It could partly be due to the fact that during the first World War in 1918 the treasury melted down over 270 million silver dollars for their silver content.

b. It was not only the treasury, with the Morgan being %90 silver and weighing in at 26.73 grams anyone needing a bit of silver melted down as many Morgan’s as they felt they needed. For uses from silver tea pot handles to spoons

c. It wasn’t until their value as a coin was realized to be worth more than the base metal value that people stopped melting them.

d. That did not stop the treasury though, when silver prices soared the treasury would still drag out the bags of morgans and melted them down for more bullion. And when the economy went the other direction silver would be made into coins again. In this way , the government could Protect its assets and control silver prices at the same time.

e. It is speculated that the only design the mint had ready in 1921 was the Morgan dollar so more were Minted.

f. Looking at a 1921 Morgan you will notice small differences in detail like the face and the eagle, it is said that this is due to the advancement in die creation.

g. Fun Fact: Cowboys in the old west used to drop silver dollars into their canteens to preserve their water on long trips.

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8 Comments on “The History of Coins – 1921 Morgan Silver Dollar | Sahara Coins Education”

  1. Great video. Just a little fact for you. 86,730,000 Morgan Dollars were minted in 1921. All in all, roughly 190,000,000 Peace Dollars were minted from 1921-1935. (I’m excluding the 1922 high relief because nearly all of them were melted). So after the Pittman Act, (which caused the melting of over 270 million silver dollars) we only gained roughly 6.5 million Silver Dollars.

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