United States Morgan Dollar

The Morgan dollar is a United States silver coin with a face value of one dollar, created by United States Mint Assistant Engraver George T. Morgan. Authorised under the Bland–Allison Act of 1878, it represented the first standard silver dollar struck following the passage of the Coinage Act of 1873, which had brought an end to the previous Seated Liberty dollar series. The legislation mandated regular monthly purchases of silver bullion by the Department of the Treasury to be coined into legal tender.

Regular production took place continuously from 1878 until 1904, supported by subsequent legislation including the Sherman Silver Purchase Act of 1890 and an 1898 directive to strike all remaining silver bullion into coins. Once those bullion reserves were fully exhausted in 1904, mintage ceased. Under the provisions of the Pittman Act of 1918, which authorised the melting and recoining of silver dollars, the Morgan dollar was briefly revived for a single year of production in 1921. It was superseded later that year by the Peace dollar. Modern collectible strikings of the design were subsequently resumed by the United States Mint in 2021 and as an annual release from 2023.

Composed of a 90 per cent silver alloy containing 412.5 troy grains of metal, the coin features a reeded edge. The obverse depicts a left-facing profile portrait of Liberty, modelled by Anna Willess Williams, who wears a Phrygian cap inscribed with a "LIBERTY" headband. The reverse displays an eagle with outstretched wings set within an encircling wreath. When included, the mint mark is positioned on the reverse side beneath the wreath, situated between the letters "D" and "O" of the word "DOLLAR".

Any mint mark appears on the reverse below the wreath, positioned directly between the letters "D" and "O" in the word "DOLLAR".