We are offering a 1903 Morgan silver dollar. There is moderate wear on this coin. In our opinion, we believe this coin to be in extra fine condition.
The Morgan dollar was a US Dollar coin minted from 1878 to 1904, and again in 1921. It was the first standard silver dollar minted since production of the previous design, the Seated 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 after 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 mint mark, if present, appears on the reverse above the "o" in "Dollar". 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 In 1890, the Bland–Allison Act was repealed by the Sherman Silver Purchase Act, which required the Treasury to purchase 4,500,000 troy ounces (140,000 kg) of silver each month, but only required further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 dollars production for one year. This act, once again, was repealed in 1893.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.
T-2 - XSMM - 1/22 - S40 - BC2/22
DISCLAIMER: Please examine the photos carefully and purchase based on the condition you see and believe the item is. We do not offer any of our currency or coins that are raw with grades, we offer them only with photos and our asking price. We will state our opinion, but, you be the judge of the quality of our raw currency and coins. We will not specify or guarantee a grade unless the coin or currency has been professionally graded by PCGS, NGC, or PMG. Further, we do not guarantee any raw coin or currency to meet any specific grade by any other standards.