1885-O United States Silver Morgan Dollar S$1 Graded by PCGS MS63

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  • Item Category: Coins & Currency
  • Source: eBay
  • Sold Date: Apr 04, 2012
  • Channel: Auction House
1885-O United States Silver Morgan Dollar S$1 Graded by PCGS MS63
You are bidding on (1) United States Morgan Dollar. Item in picture is the actual item you will receive.
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.
The Comstock Lode, the greatest silver strike in history, occurred in Nevada in the late 1850s. The strike put downward pressure on silver prices worldwide. The greatest silver strike in history was followed by the greatest coinage boondoggle in history. In 1878, to protect the interest of the western states, Congress passed the Bland-Allison Act which forced the mintage of millions of silver dollars and their purchase by the treasury department. The mintage was far more than was needed in circulation. These excess silver dollars quickly began piling up. Some original mint bags of Morgan dollars remained in treasury vaults until the 1960's. This strange past has lead to
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