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1885 "MORGAN SILVER DOLLAR" UNCIRCULATED SILVER COIN
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1885 "MORGAN SILVER DOLLAR" UNCIRCULATED SILVER COIN
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This is an "1885" MORGAN SILVER DOLLAR. (The scanned picture is the exact coin that you are bidding on). Its condition is UNCIRCULATED. (my scanned picture does not do justice to this beautiful silver coin.) This coin came from the mint's original canvas bag and never circulated. It was unexpectedly found by a bank employee, of a small rural bank, approx. 40 to 50 years ago and all the coins was sold to a single local coin collector, where it has been sitting in his safe for these many years. This coin has never been cleaned. (Some toning on the back).The Morgan Dollar is a silver United States dollar coin . The dollars were minted from 1878 to 1904 and again for one more year in 1921. The Morgan Dollar is named after its designer, George T. Morgan , who designed the obverse and reverse of the coin. Morgan's monogram appears near Lady Liberty 's neck on the obverse. The dollar was authorized by the Bland-Allison Act of 1878. It has a fineness of .900, giving a total silver content of 0.77344 troy ounces (24.057 grams ) per coin. History The Comstock Lode , one of the greatest silver strikes in history, was discovered in Nevada in the late 1850s. The strike put downward pressure on silver prices worldwide. In 1878 Congress passed the Bland-Allison Act which required the Treasury Department to purchase large amounts of silver, and to strike it as coins. For reasons of economy, the Treasury chose to strike the silver as dollars.When the dollar was minted in 1878, it was the first dollar issued for American commercial use since the last Seated Liberty Dollar of 1873. The dollar was continuously minted until 1904 when the supply of dollars in circulation was high and there was an absence of silver bullion . Then in 1918, the Pittman Act called for over 270 million coins to be melted for silver content. In 1921, the coinage of the Morgan Dollar resumed for that year and was replaced by the Peace Dollar commemorative that would become standard issue. Since 1921, many Morgan Dollars have been melted. Melting has mostly occurred when silver prices escalated because these dollars yield silver bullion.This is a great opportunity to own an outstanding coin in this condition.
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