The Morgan dollar, an iconic American coin, was minted in large quantities before World War I. However, in 1918, the Pittman Act required the melting of these coins to provide much-needed silver for ammunition and other materials. To fund the war effort, the government melted millions of Morgan dollars. This Act had a profound impact on the value of these coins; today, Morgan dollars are some of the rarest and most valuable coins. The Peace dollar was created in 1921 as the successor to the Morgan dollar. It carried the hopes and aspirations of a nation recovering from World War I. Both silver coins are beautiful and historic, and their value has increased over the years.

The re-release of these prized silver dollar coins in 2021 and now again in 2023 have created a stir in the numismatic world.

The aesthetics and symbolism of Morgan and Peace dollars

Morgan and Peace silver dollars are two of the most popular and collectible coins in the United States because of their beautiful designs and symbolism. They were initially minted by the United States Mint for circulation from 1878 to 1904 and then in 1921 for Morgan dollars and from 1921 to 1935 for Peace dollars.

The story of Morgan and Peace dollars begins with the Bland-Allison Act of 1878, which mandated the US Treasury to purchase large quantities of silver and mint it into dollar coins. The Bland-Allison Act required the US Treasury to buy the metal to help stabilize the price of silver and boost the agricultural sector. This was with the expectation that increasing the demand for silver would improve the economic situation of silver miners and farmers struggling financially during the late 19th century.

Morgan Silver Dollar

Did you know that the Morgan silver dollar was created after the American Civil War? Its design symbolized the strength and abiding unity of our nation. It was first minted in 1878 and produced until 1904, then in 1921 (to commemorate the 100th death anniversary of George Washington), again in 2021 and began again in earnest this year.

Designed by George T Morgan, the obverse of the Morgan dollar features Lady Liberty wearing a cap and flora, 13 stars, E PLURIBUS UNUM, and the date of issuance. The reverse side boasts an eagle with outstretched wings, perched on a rock, clutching an olive branch and arrows.

Interestingly, when the Morgan dollar was first released, it was met with criticism. People called it ‘the cartwheel’ for its large size and weight. Critics said that Lady Liberty looked overweight and that the eagle looked more like a buzzard than an eagle. It rapidly earned the nickname ‘Buzzard Dollar’! However, over time, the design became popular and has been praised by collectors for its beauty and symbolism.

Peace Silver Dollar

On the other hand, the Peace silver dollar, designed by Anthony de Francisci, an Italian-American sculptor, was well received from the time of release. The coin was minted from 1921 to 1935 but then discontinued. It was re-released in 2021 to commemorate its 100th anniversary.

The obverse of the Peace dollar coin features Liberty's head and neck with a crown on her head. The reverse features an eagle holding an olive branch, above an inscription: PEACE.

The Peace dollar was created after World War I with the hope that its symbolism would represent hope and optimism for a new century.

2021: re-release of both silver dollars

In 2021, the United States Mint re-released the Morgan and Peace silver dollars, two of the most popular coins in the United States. Since most extant coins had been melted in 1918, both coins were extremely rare and valuable. Numismatists praised the 2021 re-release of both Morgan and Peace silver dollars. Their aesthetic charm, historical significance, rarity, and composition of 99.9% silver set them apart.

The re-release of these classic Morgan dollars and Peace dollars was a welcome addition to the numismatic world. Unsurprisingly, the demand for these coins was tremendous, and they quickly sold out. The 2021 Morgan and Peace dollars were available in uncirculated finish. They were also available with an issue representing all 5 original mints that created the Morgan (Philadelphia, Denver, San Fracisco, New Orleans & Carson City) as well as the Philadelphia Mint Peace Dollar.

A collector's delight: Key dates and mints

Depending on the year and mint mark, uncirculated Morgan and Peace coins can be worth hundreds or even thousands of dollars, while circulated coins are typically worth much less. Some release years and mint marks are highly sought after, making them more valuable and desirable to collectors, such as the rare 1893-S Morgan silver dollar and the 1921 Peace dollar. Morgan dollars are mint marked Carson City (CC), San Francisco (S), New Orleans (O), and Denver (D) while the Philadelphia Mint coins bear no mint mark. Peace dollars are minted in Philadelphia (no mint mark), Denver (D), and San Francisco (S).

You can learn more about rare Morgan dollars in our earlier blog, here.

Experts recommend reputable sources to get Morgan and Peace dollars. They also encourage coin collectors to store them in coin capsules or coin safes.

2023 Morgan and Peace dollars have released on July 13, 2023

The US Mint announced the highly anticipated release dates and varieties for 2023 Morgan and Peace silver dollars for sale. The uncirculated 2023 Morgan and Peace dollars were released on July 13, 2023. The proof 2023-S Morgan and Peace dollar for sale will be on August 9, 2023. The reverse proof 2023 Morgan Peace Silver Dollar Reverse Proof set will be released on November 14, 2023.

The uncirculated Morgan silver dollars for sale and Peace dollars for sale will be from the Philadelphia Mint. The proof 2023-S Morgan and Peace dollars will be from the San Francisco Mint.

As for next year’s release of Morgan and Peace dollars, the US Mint has yet to announce the dates and variations.

Morgan and Peace dollars are timeless symbols of American coinage. The Morgan silver dollar, with its striking imagery and historical significance, struck after the Civil War, has become the cornerstone of many collections. Likewise, the Peace dollar collection, designed to commemorate peace after World War I, carries unique charm and symbolism. The numismatic community is eagerly awaiting the 2023 re-release of these iconic coins.

If you are a rare coin enthusiast, you can get the brand new 2023 Morgan and Peace dollars at ShopCSNtv.com.

This entry was posted in General on August 03, 2023 by Daniel Clements