A United States dollar coin minted in 1879, it is composed of 90% silver and 10% copper. Bearing the image of Lady Liberty on the obverse and an eagle on the reverse, its production was authorized by the Bland-Allison Act of 1878. Numerous varieties exist depending on the mint where it was struck (Philadelphia, Carson City, New Orleans, and San Francisco) and any subtle die variations.
These coins represent a significant period in American history, reflecting the economic and political climate of the late 19th century. Their silver content, combined with their historical significance and relative scarcity in certain mint marks and conditions, contribute to their collectibility and intrinsic value. They serve as tangible links to the era of westward expansion and the nation’s complex monetary policies.
The following sections will explore specific mint marks, key dates, grading standards, and factors influencing the valuation of these historical silver coins. Further details regarding rarity and investment potential will also be provided.
1. Mint Mark
The mint mark on an 1879 Morgan silver dollar is a crucial indicator of its origin and, consequently, its potential value. This small letter, or absence thereof, signifies the specific United States Mint facility where the coin was struck, directly impacting its rarity and collectibility.
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Location and Absence
Mint marks are typically found on the reverse of the coin, below the wreath. An absence of a mint mark indicates that the coin was struck at the Philadelphia Mint, which did not use a mint mark for silver dollars at that time. Understanding the mint mark’s location is essential for accurate identification.
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Significance of “CC”
The “CC” mint mark, representing the Carson City Mint, holds significant value due to the relatively low mintage figures from that facility. 1879-CC dollars are highly sought after by collectors, commanding substantial premiums compared to other mint marks or Philadelphia strikes.
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“O” and “S” Designations
The New Orleans Mint (“O”) and San Francisco Mint (“S”) also produced 1879 Morgan silver dollars. These coins possess varying degrees of scarcity depending on the specific mintage numbers. Analyzing the mint mark helps determine the relative rarity within the broader category of 1879 silver dollars.
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Impact on Value and Collectibility
The mint mark is a primary factor determining the coin’s market value. Coins from the Carson City Mint, for example, are generally more valuable than those from Philadelphia due to their lower production numbers and historical significance. Collectors often specialize in collecting Morgan silver dollars by mint mark, highlighting its importance.
In summary, the mint mark serves as a key identifier for 1879 Morgan silver dollars, influencing their value, rarity, and desirability among collectors. Identifying and understanding the implications of each mint mark is essential for anyone interested in collecting or investing in these historical coins.
2. Silver Content
The intrinsic value of an 1879 Morgan silver dollar is directly tied to its silver content. Each coin contains approximately 0.77344 troy ounces of silver, representing 90% of its overall composition. This silver content anchors a baseline value irrespective of the coin’s collectibility or numismatic premium. Fluctuations in the silver market directly impact the coin’s melt value, creating a floor price below which its worth is unlikely to fall. For example, a sustained increase in silver prices will correspondingly elevate the base value of all 1879 Morgan silver dollars.
The silver content also played a crucial role in the coin’s historical context. The Bland-Allison Act, which mandated the purchase and coinage of large quantities of silver, drove the mass production of Morgan silver dollars. This act aimed to support the silver mining industry and introduce more silver into the money supply. Therefore, the coin’s very existence is a direct consequence of policy decisions surrounding silver. The silver within each dollar serves as a tangible representation of this historical economic and political landscape.
Understanding the silver content is vital for investors and collectors. While numismatic value often exceeds melt value, awareness of the silver content provides a safety net. It also informs decisions about storing and insuring these coins, particularly during periods of economic uncertainty when precious metals often act as a hedge against inflation. Ultimately, the 1879 Morgan silver dollar’s silver content forms the foundation of its worth, both historically and monetarily.
3. Bland-Allison Act
The Bland-Allison Act of 1878 served as the legislative catalyst for the mass production of the 1879 Morgan silver dollar. Understanding the Act’s provisions and objectives provides critical context for appreciating the historical significance and widespread availability of these coins.
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Mandatory Silver Purchases
The Act mandated the U.S. Treasury to purchase between $2 million and $4 million worth of silver bullion each month. This silver was then to be coined into silver dollars. This provision directly fueled the production of the 1879 Morgan silver dollar, ensuring a substantial mintage volume across various mints.
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Economic Motivations
The Act was a response to pressure from silver mining interests seeking to increase demand for silver, which had declined following the Coinage Act of 1873 (the “Crime of ’73”), which effectively ended bimetallism. The Bland-Allison Act aimed to prop up the silver market and provide economic relief to silver-producing states.
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Impact on Coin Design
The Morgan silver dollar, designed by George T. Morgan, was chosen as the vehicle for fulfilling the Act’s requirements. This design, therefore, became inextricably linked to the legislation and the economic policies it represented. The Act guaranteed the Morgan design would be widely circulated and preserved in American history.
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Limited Success and Repeal
While the Bland-Allison Act did increase the demand for silver, it failed to fully restore silver’s value to pre-1873 levels. Public and international pressure for a gold standard eventually led to the Act’s repeal in 1890, replaced by the Sherman Silver Purchase Act, which also proved problematic and was later repealed in 1893. These subsequent legislative actions further contribute to the historical narrative surrounding the 1879 Morgan silver dollar.
The Bland-Allison Act directly facilitated the creation of the 1879 Morgan silver dollar, influencing its production volume, design, and historical context. The Act’s complex economic and political motivations underscore the significance of these coins as tangible representations of late 19th-century American history.
4. Coin Grade
The grade assigned to an 1879 Morgan silver dollar directly determines its market value and collectibility. Coin grading is the process of evaluating a coin’s physical condition, assigning a numerical score and descriptive adjective that reflects its degree of preservation. Higher grades indicate less wear and damage, resulting in increased desirability among collectors. For the 1879 Morgan silver dollar, common grades range from “Good” (noticeable wear, but major design elements visible) to “Mint State” (uncirculated, exhibiting no wear). The Sheldon Scale, a 70-point system, is commonly used, with MS-60 representing the lowest Mint State grade and MS-70 indicating a flawless coin. A 1879-S Morgan dollar in Good condition might be worth only the silver melt value plus a small premium, while the same coin in MS-65 condition could command a significantly higher price. Certain mint marks, like the “CC” for Carson City, are particularly sensitive to grade, with values escalating exponentially as the grade improves.
Professional grading services, such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation), provide independent and standardized assessments of coin condition. Submitting an 1879 Morgan silver dollar to one of these services offers several benefits. A certified grade provides confidence to buyers and sellers, facilitating transactions and reducing ambiguity. Additionally, the encapsulation of the coin in a tamper-evident holder protects it from further environmental damage and handling. However, the cost of grading must be weighed against the potential increase in value. For lower-grade examples, the grading fee might exceed any potential premium gained. Conversely, for exceptionally well-preserved coins, professional grading is almost essential to realize their full market potential. For instance, a potentially MS-67 1879-CC dollar would almost certainly benefit from professional certification.
Ultimately, understanding coin grading is paramount for anyone involved with 1879 Morgan silver dollars. Whether buying, selling, or simply appreciating these historical artifacts, an accurate assessment of their condition is crucial for determining their true worth. The combination of objective grading standards and expert evaluation provides a framework for navigating the complexities of the numismatic market and preserving these coins for future generations. Recognizing the subtle nuances of wear, luster, and strike quality differentiates a knowledgeable collector from a novice, impacting investment decisions and overall enjoyment of the hobby.
5. Historical Context
The 1879 Morgan silver dollar exists as a tangible artifact profoundly shaped by the economic, political, and social currents of its time. Its creation was not merely a matter of minting currency, but a direct consequence of legislative actions, specifically the Bland-Allison Act of 1878. This Act, born from debates over bimetallism and pressures from silver mining interests, mandated the government’s purchase and coinage of vast quantities of silver. Thus, the 1879 dollar embodies a key moment in the silver controversy that dominated late 19th-century American monetary policy. For example, the coin’s very presence reflects the political power wielded by silver-producing states and the debates surrounding the gold standard versus bimetallism.
Further underscoring its historical significance, the distribution of 1879 Morgan silver dollars coincided with westward expansion and the growth of the American economy. The coins facilitated trade and commerce across a rapidly developing nation. Mint locations, such as the Carson City Mint (identified by the “CC” mint mark), served crucial roles in processing silver from nearby mines, connecting the coin directly to the burgeoning mining industry of the West. Understanding this context allows collectors and historians to appreciate the geographical and economic factors that influenced the coin’s production and circulation. Examining the political cartoons and newspaper articles of the era provides additional insight into public perception of these silver dollars and their role in national debates.
In conclusion, comprehending the historical context is not merely supplementary but essential to fully appreciating the 1879 Morgan silver dollar. It illuminates the coin’s origin, purpose, and significance within the broader narrative of American history. Recognizing the forces that shaped its creation enhances its value beyond its silver content or numismatic grade, transforming it into a compelling window into the past.
6. Rarity
The rarity of specific 1879 Morgan silver dollars significantly impacts their value and collectibility. Variation in mintage figures across different mints, coupled with factors affecting preservation and survival rates, contributes to the varying degrees of scarcity observed within this series.
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Mint Mark Scarcity
The mint mark, indicating the minting facility, is a primary determinant of rarity. The Carson City (“CC”) mint, known for its lower production numbers compared to Philadelphia, New Orleans, or San Francisco, produces 1879 Morgan dollars that are generally more scarce and highly valued. For example, an 1879-CC dollar commands a substantial premium over a Philadelphia-minted example in similar condition.
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Survival Rates and Condition
The number of 1879 Morgan dollars that have survived to the present day in various grades also affects rarity. Coins that saw heavy circulation or were improperly stored are less desirable and more common. Conversely, well-preserved uncirculated examples, particularly those professionally graded, represent a smaller portion of the overall population and are thus considered rarer. The survival rate is influenced by factors such as economic conditions that led to melting and government recalls of silver coinage.
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Varieties and Errors
Specific die varieties or minting errors can further enhance the rarity of certain 1879 Morgan silver dollars. These variations, which might include doubled dies or other anomalies, are often highly sought after by specialized collectors. For example, a 1879 dollar with a significant die crack might be considered a unique and rare specimen.
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Hoard Discoveries and Their Impact
The discovery of previously unknown hoards of 1879 Morgan silver dollars can temporarily affect the market by increasing the supply of coins in specific grades or from certain mints. However, even with hoard discoveries, certain combinations of mint mark and condition remain relatively scarce. While a hoard might flood the market with lower-grade examples, high-grade examples will still retain a premium.
The interplay of these factorsmint mark, survival rate, varieties, and hoard discoveriesdetermines the relative rarity of individual 1879 Morgan silver dollars. Understanding these elements is essential for accurately assessing the value and collectibility of these historical coins. Certain combinations of factors result in significantly rarer coins, commanding considerable premiums in the numismatic market.
7. Design
The design of the 1879 Morgan silver dollar is an integral aspect of its appeal and historical significance. Conceived by George T. Morgan, the coin’s imagery reflects prevailing artistic trends and national ideals of the late 19th century, directly contributing to its enduring collectibility and cultural relevance.
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Obverse: Lady Liberty
The obverse features a left-facing profile of Lady Liberty, adorned with a Phrygian cap and a crown of wheat and cotton. This depiction symbolizes liberty and the nation’s agricultural wealth. The inscription “E PLURIBUS UNUM” and the year of minting (1879) encircle the portrait. The choice of imagery and arrangement reflects the era’s neoclassical influences and commitment to representing national values on coinage.
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Reverse: Heraldic Eagle
The reverse showcases a heraldic eagle clutching arrows and an olive branch, symbolizing both military strength and a desire for peace. The inscription “IN GOD WE TRUST” appears above the eagle, while “UNITED STATES OF AMERICA” and “ONE DOLLAR” frame the design. This classic depiction of the American eagle reinforced national identity and the dollar’s monetary value.
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Designer’s Influence
George T. Morgan’s training and artistic vision shaped the coin’s aesthetic. His meticulous attention to detail and classical influences are evident in the balanced composition and refined details of both the obverse and reverse. His design successfully captured the spirit of the nation during a period of growth and change, contributing to the coin’s lasting legacy.
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Artistic Symbolism
Beyond the literal representations, the 1879 Morgan dollar’s design is rich in symbolic meaning. Lady Liberty, the eagle, and the inscriptions all conveyed messages about American ideals, national strength, and economic prosperity. The choice of symbols and their arrangement reflect the nation’s self-image and aspirations during this period.
In summary, the design of the 1879 Morgan silver dollar is not merely decorative but a purposeful expression of national values and artistic sensibilities. The carefully chosen imagery, influenced by George T. Morgan’s skill and the prevailing artistic trends, contributes significantly to the coin’s historical importance and enduring popularity among collectors. The symbolism embedded in the coins design continues to resonate with those interested in American history and numismatics.
8. Collector Demand
Collector demand exerts a profound influence on the market value and overall allure of 1879 Morgan silver dollars. The coin’s inherent qualitiessilver content, historical significance, and designare amplified by the collective desire of numismatists and investors, creating a dynamic marketplace where supply and demand dictate pricing and availability.
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Mint Mark Preference
Collectors exhibit distinct preferences for specific mint marks, particularly those associated with lower mintage figures. The 1879-CC dollar, produced at the Carson City Mint, commands a significant premium due to its relative scarcity and historical connection to the Comstock Lode silver rush. The strong demand for this specific mint mark drives up prices and fuels competition among collectors seeking to acquire it. In contrast, Philadelphia-minted examples, lacking a mint mark and having higher mintage numbers, typically attract less intense demand, impacting their relative value.
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Grade Sensitivity
The condition of an 1879 Morgan silver dollar is paramount in determining its desirability. Collectors are willing to pay substantial premiums for coins in higher grades, particularly those certified by reputable grading services such as PCGS or NGC. An uncirculated (Mint State) 1879 dollar can be exponentially more valuable than a circulated example, highlighting the importance of preservation and professional grading in the collector market. This grade sensitivity creates a tiered pricing structure, with incremental improvements in condition leading to significant increases in value.
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Historical Interest and Nostalgia
Beyond its intrinsic and numismatic value, the 1879 Morgan silver dollar evokes a sense of historical nostalgia and cultural significance. The coin represents a tangible link to the late 19th century, a period of westward expansion, economic transformation, and evolving monetary policy. Collectors are drawn to the coin’s representation of this era, seeking to connect with a tangible piece of American history. This historical interest contributes to sustained demand and supports the coin’s value as a collectible artifact.
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Investment Potential and Speculation
Collector demand is also influenced by perceptions of investment potential and speculative trading. While many collectors acquire 1879 Morgan silver dollars for their historical and aesthetic value, others view them as a store of wealth and a hedge against inflation. Fluctuations in the silver market, economic uncertainty, and predictions of future scarcity can all impact investor demand, leading to price volatility and increased trading volume. This speculative element adds another layer of complexity to the market dynamics surrounding the 1879 Morgan silver dollar.
The interplay of these factorsmint mark preference, grade sensitivity, historical interest, and investment potentialshapes the overall collector demand for 1879 Morgan silver dollars. Understanding these nuances is crucial for both seasoned numismatists and casual enthusiasts seeking to navigate the market and appreciate the multifaceted value of these historical coins.
Frequently Asked Questions
This section addresses common inquiries regarding the 1879 Morgan silver dollar, offering insights into its value, identification, and historical significance.
Question 1: What factors primarily determine the value of an 1879 Morgan silver dollar?
The value is primarily determined by mint mark, condition (grade), and silver content. Carson City (“CC”) minted coins are generally more valuable. Higher grades, indicating less wear, command substantial premiums. The intrinsic silver value provides a baseline worth.
Question 2: How can one identify the mint mark on an 1879 Morgan silver dollar?
The mint mark, if present, is located on the reverse of the coin, below the wreath. Absence of a mint mark indicates the coin was struck at the Philadelphia Mint. “CC” denotes Carson City, “O” represents New Orleans, and “S” signifies San Francisco.
Question 3: What is the silver content of an 1879 Morgan silver dollar?
An 1879 Morgan silver dollar contains approximately 0.77344 troy ounces of silver, constituting 90% of its composition. The remaining 10% is copper, added for durability.
Question 4: What was the Bland-Allison Act, and how did it impact the 1879 Morgan silver dollar?
The Bland-Allison Act of 1878 mandated the U.S. Treasury to purchase and coin large quantities of silver. This act directly led to the mass production of Morgan silver dollars, including those minted in 1879.
Question 5: Are all 1879 Morgan silver dollars considered rare?
No, not all 1879 Morgan silver dollars are rare. The 1879-CC dollars are relatively scarce and highly valued. Philadelphia, New Orleans, and San Francisco mints produced larger quantities, making those coins more common.
Question 6: How does professional grading affect the value of an 1879 Morgan silver dollar?
Professional grading provides an independent assessment of the coin’s condition. Certified higher grades enhance buyer confidence and typically result in a significant increase in value, especially for key dates and mint marks.
Understanding these aspects of the 1879 Morgan silver dollar contributes to a more informed appreciation of its numismatic and historical significance.
The following section will delve into the long-term investment strategies involving these historical coins.
Tips for Handling 1879 Morgan Silver Dollars
Proper handling and storage are essential for preserving the value and condition of these historical coins. Adherence to specific guidelines minimizes potential damage and maximizes long-term appreciation.
Tip 1: Minimize Direct Handling: Excessive handling introduces oils and contaminants that can accelerate wear and diminish luster. Use cotton gloves when examining or showcasing these coins to prevent fingerprinting and surface degradation.
Tip 2: Employ Acid-Free Storage: Store 1879 Morgan silver dollars in acid-free holders, albums, or capsules designed specifically for coin preservation. Avoid PVC-containing materials, as they can leach harmful chemicals over time, causing irreversible damage.
Tip 3: Control Environmental Factors: Maintain a stable environment with low humidity and moderate temperature to prevent corrosion and tarnishing. Avoid storing coins in areas prone to temperature fluctuations or excessive exposure to light.
Tip 4: Resist Aggressive Cleaning Methods: Refrain from using abrasive cleaning agents or methods that can scratch or damage the coin’s surface. Professional conservation services should be consulted for removing significant tarnish or contaminants.
Tip 5: Insure Against Loss or Damage: Obtain adequate insurance coverage to protect against potential loss, theft, or damage. A certified appraisal provides a solid foundation for establishing the coin’s value for insurance purposes.
Tip 6: Maintain Detailed Records: Keep meticulous records of each 1879 Morgan silver dollar, including purchase date, price, grade, provenance, and any relevant historical information. This documentation aids in valuation, estate planning, and potential sale.
Tip 7: Prioritize Professional Grading for Valuable Specimens: Consider submitting potentially high-grade or key-date 1879 Morgan silver dollars to reputable grading services like PCGS or NGC. Certification enhances liquidity and confidence in the coin’s authenticity and condition.
These practices safeguard the physical integrity and value of 1879 Morgan silver dollars, ensuring their preservation for future generations. Diligent care translates to enhanced long-term appreciation and enjoyment.
The concluding section will summarize the key considerations for collectors and investors in this iconic coin series.
1879s morgan silver dollar
The preceding exploration of the 1879 Morgan silver dollar reveals its multifaceted significance. Key determinants of value encompass mint mark, condition, and silver content. The Bland-Allison Act fueled its production, imbuing it with historical context. Collector demand, shaped by rarity and aesthetic appeal, further influences its market dynamics.
Prudent handling and informed acquisition strategies are paramount for those engaging with these coins. Whether pursued as historical artifacts, investment vehicles, or objects of numismatic interest, the 1879 Morgan silver dollar remains a tangible link to a pivotal era in American history. Continued study and careful preservation will ensure its enduring legacy.
