Struck from 1878 to 1904 under the Bland-Allison Act, the pre-1921 Morgan Silver Dollar is the original issue of America’s most famous silver dollar series. Named after its designer, George T. Morgan, an assistant engraver at the U.S. Mint, the coin features a profile portrait of Lady Liberty on the obverse, modeled after Philadelphia schoolteacher Anna Willess Williams. Liberty is depicted with flowing hair, wearing a Phrygian cap adorned with wheat and cotton, symbolizing America’s agricultural heritage. The reverse showcases a majestic eagle with outstretched wings, clutching arrows and an olive branch, symbolizing war and peace, respectively.

The Pittman Act of 1918 sent more than 270 million silver dollars to the melting pot, sharply reducing the surviving supply of these early dates. As a result, pre-1921 Morgans are considerably scarcer than the heavily minted 1921 issue, and their premiums have historically been more responsive during periods of elevated demand for physical silver. Each coin is composed of 90% silver and 10% copper with a total weight of 26.73 grams (0.7734 troy ounces of pure silver). Coins are our choice of dates from the 1878–1904 period, offered in AU/UNC condition.

For the more readily available final-year issue, see our 1921 Morgan Silver Dollar.