1895 Morgan Silver Dollar
Of all Morgan Silver Dollars ever produced, the 1895 Morgan Silver Dollar stands out as one of the most sought after of all silver dollars. Designed and named after George Morgan, Morgan Silver Dollars were a very common coin and millions had been created between the late 1800's and the early 1900's.
The 1895 Morgan Silver Dollar has a somewhat interesting history. The U.S Mint records indicate that there were 12,000 1895 Morgan Silver Dollars created for circulation, but what makes them so rare is that there are only 880 accounted for. So where did the other 11,120 coins go?
Some speculate that the records are wrong and they were never produced while others think that someone is holding a large secret stash somewhere. It is quite possible that many are sitting in the basement of an old house or attic. Many stories have been told about someone passing away and their families finding thousands of coins or other valuables stashed away somewhere.
Now, for someone to have stashed away 11,120 Silver Dollars is not likely feasible. With their face value alone costing $11,120, that would be much like a person today stashing away $500,00 (give or take a few $) in $1 bills!
History of the Morgan Silver Dollar
The Morgan Silver Dollar was first minted in 1874 and continued in production until 1904. Production also resumed for one year in 1921. The Morgan Silver Dollar was not named after a famous politician or businessman, but after the designer of the coin itself. A Morgan Silver Dollar contains 077344 troy ounces of silver mainly from a huge silver strike found in Nevada. At this point in history, with such a large find of silver, the US government decided to use the silver to make Silver Dollars. Previous to the Morgan Silver Dollar was the Seated Liberty Silver Dollar and also silver trade coins also started to be minted around the same time. Production of the Morgan Silver Dollar coin stopped and started back up in 1921 for one year due to the high availability of silver on the market. The Morgan Silver Dollar was soon replaced by the Peace Silver Dollar and the rest is history.
Since the 1920's the Morgan Silver Dollar has been a staple of many coin collections. As late as the 1970's uncirculated Morgan silver dollars were found and sold to coins dealers around the world. During production, Morgan Silver Dollars were produced in several different locations with the most sought after and rare being produced at the Carson City facility. In order to tell if a coin is from the Carson City mint, a small "cc" should be visible between the letters D and O on the same side as the bald eagle.
Of all the years of Morgan Silver Dollars that were produced, 3 stand out as being rare Morgan Silver Dollars. The 1889-CC Morgan Silver Dollar, the 1893-S Morgan Silver Dollar and the 1895 Morgan Silver Dollar. If you own one of these, you own a piece of history that has significant value to a collector.