A United States coin struck during the late 19th century, specifically the Morgan dollar, is a tangible piece of American history. Minted from 90% silver and 10% copper, it served as a standard form of currency and a symbol of the nation’s economic strength following the Coinage Act of 1873. Its design, featuring Lady Liberty on the obverse and an eagle on the reverse, reflects the artistic sensibilities of the era.
These coins hold significance not only for their intrinsic metal value but also for their historical context. They represent a period of significant economic and social change in the United States, including westward expansion, industrial growth, and debates over monetary policy. Furthermore, the coins are highly sought after by collectors due to their relative scarcity in certain mint marks and conditions, making them valuable historical artifacts and potentially lucrative investments.
The enduring appeal of this particular coin has led to extensive study and documentation, making it a popular topic within numismatic circles. Subsequent sections of this article will delve deeper into its mintage figures, varieties, grading standards, and collectibility, providing a comprehensive overview for both novice and experienced collectors.
1. Morgan Dollar
The term “Morgan Dollar” and “silver dollar from 1879” are inextricably linked, as the former is the common name for the specific type of silver dollar minted in that year and many years surrounding it. The Morgan Dollar designation stems from its designer, George T. Morgan. Consequently, a silver dollar from 1879 is, in most instances, a Morgan Dollar. The design and composition of the coin adhered to the stipulations of the Bland-Allison Act, a piece of legislation impacting silver coinage during that era. Therefore, the Morgan Dollar represents the physical embodiment of this Act, influencing the monetary landscape.
The importance of recognizing the “Morgan Dollar” as a component of the “silver dollar from 1879” lies in properly identifying and valuing the coin. Knowing that a silver dollar from 1879 is almost certainly a Morgan Dollar allows collectors and investors to use resources specific to the Morgan Dollar series. This includes consulting detailed grading guides, rarity tables based on mint marks and varieties, and price histories that focus explicitly on the Morgan Dollar. This targeted approach yields more accurate assessments and purchasing decisions.
In summary, the connection between the terms is one of specificity. “Silver dollar from 1879” is a broader descriptor, while “Morgan Dollar” identifies the specific design and series. Recognizing this relationship is crucial for accurate identification, valuation, and historical understanding of these coins. The intricacies of mint marks, varieties, and condition further complicate the valuation process, emphasizing the importance of specialized knowledge within the Morgan Dollar series.
2. Silver Content
The silver content of a “silver dollar from 1879” is a defining characteristic directly influencing its intrinsic value and historical significance. The Coinage Act of 1873 mandated that silver dollars contain 90% silver and 10% copper, resulting in a weight of approximately 26.73 grams of which about 24 grams is pure silver. This composition connected the coin directly to the fluctuating silver market, making it a tangible representation of the silver standard debate prevalent during the late 19th century. The inherent value of the silver provided a foundational level of worth, independent of the coin’s face value.
The importance of the silver content extends beyond mere monetary considerations. The substantial amount of silver in each coin meant that large quantities of the metal were being used in coinage. This consumption of silver played a role in shaping economic policy and influencing the silver mining industry. For instance, the discovery of large silver deposits in the American West directly fueled the push for increased silver coinage, with the “silver dollar from 1879” serving as a primary vehicle for this initiative. The silver content, therefore, became intertwined with the economic and political narratives of the time.
Understanding the silver content is crucial for numismatists and investors alike. The value of a “silver dollar from 1879” is partially determined by the spot price of silver, particularly during periods of high silver prices. Furthermore, knowledge of the coin’s composition aids in identifying counterfeits. Replicas often lack the correct silver content, leading to discrepancies in weight and metallic properties. In conclusion, the silver content of a “silver dollar from 1879” is not merely a technical specification but a key determinant of its value, historical significance, and authenticity.
3. Mint Marks
Mint marks on a silver dollar from 1879 serve as critical indicators of its origin and, consequently, its relative scarcity and value. These small symbols, imprinted during the minting process, reveal at which United States Mint the coin was produced. The presence or absence of a mint mark, along with its specific location on the coin, significantly impacts its desirability among collectors.
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Location and Identification
Mint marks are typically located on the reverse side of the 1879 silver dollar, usually below the wreath. Common mint marks include “O” for New Orleans, “S” for San Francisco, “CC” for Carson City, and the absence of a mint mark indicates it was minted in Philadelphia. Accurate identification of the mint mark requires careful examination, potentially with magnification, to distinguish subtle variations.
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Scarcity and Value
The scarcity of a particular 1879 silver dollar is directly linked to its mint mark. Coins from the Carson City Mint (“CC”), for example, generally command higher prices due to lower mintage figures and a greater demand from collectors. Conversely, Philadelphia-minted coins, lacking a mint mark, tend to be more common and therefore less valuable, assuming comparable condition.
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Historical Significance
Mint marks provide historical context, connecting the coin to specific geographic locations and the economic conditions prevalent in those regions during that era. The Carson City Mint, for example, operated in a silver-rich area during the Comstock Lode boom, adding a layer of historical narrative to coins bearing the “CC” mint mark.
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Impact on Grading
The clarity and visibility of the mint mark are considered during the grading process. A well-defined mint mark enhances the coin’s overall appeal, while a weak or damaged mint mark can detract from its value. Authenticating the mint mark is also crucial, as counterfeiters sometimes attempt to add false mint marks to increase a coin’s perceived worth.
In conclusion, the mint mark on a silver dollar from 1879 is more than just a symbol; it’s a key identifier that reveals information about its origin, scarcity, historical context, and ultimately, its value within the numismatic market. The careful study and understanding of mint marks are essential for any serious collector of these historical coins.
4. Historical Context
The historical context surrounding the silver dollar from 1879 is fundamental to understanding its significance beyond its intrinsic metal value. The coin embodies a period of economic and political upheaval, reflecting the debates and policies shaping the United States during the late 19th century. The historical background significantly contributes to the coin’s numismatic value and collector appeal.
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The Bland-Allison Act
The Bland-Allison Act of 1878 mandated the U.S. Treasury to purchase a specific amount of silver each month and coin it into silver dollars. This legislation was a direct response to pressure from silver mining interests and proponents of bimetallism. The 1879 silver dollar is a direct result of this act, representing the government’s attempt to address economic concerns related to silver overproduction and monetary policy. The Act fueled the production of millions of silver dollars, impacting the national economy.
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The Silver Question
The late 19th century saw a heated debate over the role of silver in the U.S. monetary system. Advocates for bimetallism believed that coining both gold and silver would inflate the money supply, benefiting debtors and stimulating economic growth. Opponents favored a gold standard, arguing it would provide greater stability. The silver dollar from 1879 became a symbol of this “Silver Question,” representing the competing economic philosophies of the time. Its very existence was a point of contention.
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Westward Expansion
The discovery of large silver deposits in the American West, particularly the Comstock Lode, played a significant role in the push for silver coinage. The 1879 silver dollar, especially those minted at the Carson City Mint, directly connects to this era of westward expansion. The coins served as a medium of exchange in these booming silver-producing regions, facilitating commerce and contributing to the growth of western economies. They physically represent the flow of wealth from these mines.
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Economic Depression
The period surrounding the minting of the 1879 silver dollar was marked by economic instability, including the Long Depression of the 1870s. The debates over silver coinage were, in part, a response to these economic challenges. Proponents hoped that increased silver coinage would alleviate the depression’s effects by increasing the money supply and stimulating inflation. The silver dollar from 1879, therefore, reflects the economic anxieties and attempted remedies of the era.
These historical facets collectively define the significance of the 1879 silver dollar. Its creation, design, and circulation were intimately tied to the economic, political, and social currents of the time. Consequently, understanding the historical context is essential for appreciating the coin’s enduring value and its role as a tangible artifact of American history.
5. Numismatic Value
The numismatic value of a silver dollar from 1879 extends beyond its intrinsic silver content, encompassing factors that appeal to collectors and investors. These factors are subjective and influenced by market dynamics, historical context, and coin-specific attributes. Understanding these nuances is crucial for accurately assessing the coin’s worth in the collector market.
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Condition and Grading
The physical condition of the coin is a primary determinant of its numismatic value. Coins are graded on a scale from Poor (P-1) to Mint State (MS-70), reflecting the degree of wear, surface preservation, and eye appeal. Higher grades command significantly higher prices. Grading services like PCGS and NGC provide impartial assessments of a coin’s condition, influencing its perceived value and marketability. For example, an 1879-S Morgan dollar in MS-65 condition will be worth substantially more than the same coin in Good (G-4) condition.
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Rarity and Mintage Figures
The mintage figures for each mint location in 1879 directly affect the rarity and subsequent numismatic value. Lower mintage numbers generally indicate a scarcer coin, increasing its desirability among collectors. Specific mint marks, such as the Carson City “CC,” often indicate lower mintages and higher values. For example, an 1879-CC Morgan dollar is considerably more valuable than a 1879-P Morgan dollar due to its lower production and historical significance related to the Comstock Lode.
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Varieties and Errors
Variations in the die used to strike the coin, or errors occurring during the minting process, can create unique and highly sought-after varieties. Examples include doubled dies, repunched mint marks, or other anomalies. These varieties can be significantly more valuable than standard examples of the same coin. Collectors actively seek out these unique pieces, driving up their numismatic value due to their rarity and distinct characteristics. The presence of a known error can dramatically increase the value.
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Market Demand and Collector Interest
The overall demand for 1879 silver dollars within the collector community plays a crucial role in determining their numismatic value. Trends in coin collecting, historical events, and popular interest can influence demand. Strong demand for a particular mint mark or variety can drive prices upward, while decreased interest can lead to a decline. Market analysis and tracking auction results are essential for understanding these fluctuations. Collector sentiment directly affects a coin’s liquidity and potential resale value.
These factors combine to establish the numismatic value of a silver dollar from 1879, differentiating it from its melt value based on silver content alone. The interplay of condition, rarity, variety, and market demand creates a complex valuation landscape that requires careful consideration for collectors and investors seeking to acquire or sell these historical coins. The continuous reevaluation of these factors ensures that the numismatic value remains dynamic and responsive to market trends and collector preferences.
6. Design Features
The design features of the silver dollar from 1879 are integral to its historical and aesthetic value. These elements, conceived by engraver George T. Morgan, reflect the artistic conventions of the late 19th century and contribute significantly to the coin’s appeal among collectors. Understanding these design features is crucial for appreciating the coin’s artistic merit and historical context.
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Obverse: Lady Liberty
The obverse of the coin features a left-facing depiction of Lady Liberty, representing the nation’s ideal of freedom. She wears a Phrygian cap adorned with wheat and cotton blossoms, symbolizing agricultural prosperity. The inscription “E PLURIBUS UNUM” arches above her head, with thirteen stars representing the original colonies encircling the design. Her portrait combines classical allegorical elements with distinctly American symbols, reflecting the nation’s self-image at the time. The choice of these symbols and their arrangement was intentional, aimed at conveying a message of national unity and economic strength.
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Reverse: Heraldic Eagle
The reverse showcases a heraldic eagle with outstretched wings, clutching an olive branch and arrows, representing peace and military strength. The motto “IN GOD WE TRUST” appears above the eagle, and “UNITED STATES OF AMERICA” and “ONE DOLLAR” are inscribed around the periphery. The eagle design incorporates elements from the Great Seal of the United States, emphasizing the coin’s status as official currency. The eagle’s powerful posture and the inclusion of symbols of both peace and war convey a sense of national power and sovereignty.
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Artistic Style and Influences
The design style of the 1879 silver dollar reflects the Neoclassical artistic movement, characterized by its emphasis on symmetry, balance, and classical forms. Morgan’s design drew inspiration from classical Greek and Roman sculpture, adapting these aesthetic principles to depict American themes. The resulting design combines idealized figures with realistic details, creating a visually appealing and historically significant coin. The choice of Neoclassical style was intended to evoke a sense of timelessness and stability, aligning with the nation’s aspirations for permanence.
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Variations and Minor Details
Subtle variations in the design, such as the number of tail feathers on the eagle or minor differences in the lettering, can differentiate between different issues of the 1879 silver dollar. Collectors often seek out these variations, adding to the numismatic value of certain coins. These minor details, though often overlooked, provide insights into the minting process and the evolution of the coin’s design. Careful examination of these variations requires specialized knowledge and tools, highlighting the meticulous nature of numismatic study.
These design features, collectively, define the aesthetic and historical significance of the silver dollar from 1879. They represent not only the artistic conventions of the era but also the nation’s ideals and aspirations. The coin’s enduring appeal lies in its ability to convey these messages through carefully crafted design elements that continue to captivate collectors and historians alike.
7. Rarity Levels
The concept of rarity levels is central to understanding the valuation and collectibility of a silver dollar from 1879. The degree of scarcity significantly impacts a coin’s numismatic value, distinguishing common examples from those highly sought after by collectors. These rarity levels are determined by a combination of mintage figures, survival rates, and historical factors.
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Mintage Figures and Mint Marks
Original mintage figures directly influence a coin’s base rarity. Lower mintage numbers for a specific mint mark, such as the Carson City (“CC”) mint, immediately elevate the coin’s potential value. For example, the 1879-CC Morgan dollar typically commands a higher price than the 1879-P (Philadelphia) example due to a significantly lower initial mintage. These figures provide a foundation for assessing relative scarcity within the series.
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Survival Rates and Condition
The number of coins that have survived to the present day, particularly in higher grades, further refines rarity assessments. Coins that were heavily circulated or poorly stored have lower survival rates in desirable conditions. An 1879-S (San Francisco) Morgan dollar, despite a relatively high mintage, may be considered scarce in uncirculated grades due to attrition and damage over time. Condition, therefore, becomes a crucial factor in determining ultimate rarity.
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VAM Attributions and Varieties
Specific die varieties, cataloged under the Van Allen-Mallis (VAM) system, can dramatically impact a coin’s rarity. Certain VAM varieties are exceedingly rare, with only a handful of examples known to exist. An 1879 silver dollar with a significant VAM attribution can be far more valuable than a standard example, even in comparable condition. The identification of these varieties requires specialized knowledge and expertise.
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Market Demand and Collector Preferences
Even if a coin is technically “rare” based on mintage or survival rates, market demand ultimately determines its realized value. A particular silver dollar from 1879 might be considered scarce, but if collectors do not actively seek it, its price will remain relatively stable. Collector preferences, influenced by factors such as historical significance or aesthetic appeal, can drive demand and increase the numismatic value of specific issues.
In conclusion, the rarity levels of a silver dollar from 1879 are a complex interplay of mintage figures, survival rates, specific varieties, and market demand. Understanding these factors is essential for accurate valuation and informed collecting decisions. While mintage numbers provide a starting point, the ultimate rarity and value are shaped by the coin’s condition, the presence of desirable varieties, and the overall interest within the numismatic community.
Frequently Asked Questions
This section addresses common inquiries regarding the United States silver dollar minted in 1879. The information aims to provide clarity on aspects relevant to both collectors and individuals seeking general knowledge about this historical coin.
Question 1: What determines the value of a silver dollar from 1879?
The value is determined by a combination of factors, including its silver content, mint mark (or lack thereof), condition (graded on a scale), and rarity. Coins with lower mintages, specific mint marks, or those in exceptional condition generally command higher prices.
Question 2: Where were silver dollars from 1879 minted?
These coins were minted at several United States Mint locations, including Philadelphia (no mint mark), New Orleans (“O”), San Francisco (“S”), and Carson City (“CC”). Each mint’s production numbers varied, affecting the coin’s scarcity and value.
Question 3: Is every silver dollar from 1879 a Morgan Dollar?
Yes, practically all silver dollars from 1879 are Morgan Dollars. The Morgan Dollar is the design type used for silver dollars minted from 1878 to 1904 and again in 1921. The term “silver dollar from 1879” is often used interchangeably with “1879 Morgan Dollar.”
Question 4: What is the silver content of a silver dollar from 1879?
These coins consist of 90% silver and 10% copper. The total weight of the coin is approximately 26.73 grams, with roughly 24 grams being pure silver. This composition makes them desirable both for their numismatic and intrinsic metal value.
Question 5: How can the authenticity of a silver dollar from 1879 be verified?
Authenticity verification involves several steps, including checking the coin’s weight and dimensions against standard specifications, examining the details of the design for sharpness and accuracy, and scrutinizing the mint mark for any signs of alteration. Professional grading services can provide definitive authentication.
Question 6: What historical context is relevant to the 1879 silver dollar?
The minting of these coins occurred during a period of significant debate over monetary policy in the United States, particularly regarding the role of silver. The Bland-Allison Act of 1878 required the government to purchase and coin silver, leading to the mass production of silver dollars. The coin embodies this economic and political context.
The provided answers offer a foundational understanding of the 1879 silver dollar. Further research and consultation with numismatic experts are recommended for those seeking more in-depth knowledge.
The subsequent section will explore specific grading criteria for the 1879 silver dollar, providing a detailed analysis of factors affecting its condition and value.
Tips for Collectors of 1879 Silver Dollars
This section provides actionable advice for those interested in collecting United States silver dollars minted in 1879. The information is designed to enhance understanding and inform responsible collecting practices.
Tip 1: Prioritize Authentication. Prior to any purchase, verify the authenticity of the 1879 silver dollar. Counterfeit coins exist and can be remarkably deceptive. Employ reputable grading services or consult experienced numismatists to confirm legitimacy. Examine the coin’s weight, dimensions, and design details meticulously, comparing them to established standards. Deviation from these standards may indicate a forgery.
Tip 2: Understand Grading Standards. Familiarize yourself with established grading scales (e.g., Sheldon scale) used by professional grading services. Condition significantly impacts the value of an 1879 silver dollar. Learn to differentiate between circulated and uncirculated examples, and accurately assess wear, surface preservation, and eye appeal. This knowledge facilitates informed purchasing decisions and prevents overpayment for lower-grade coins.
Tip 3: Research Mint Marks and Varieties. Identify the mint mark (or lack thereof) to determine the coin’s origin. Each mint’s output affected its scarcity. Research specific die varieties, known as VAMs, as these can significantly increase a coin’s value. Utilize reputable resources to identify and catalog these variations. Understand that specific combinations of mint mark and die variety are more desirable.
Tip 4: Track Market Trends. Monitor auction results, dealer prices, and numismatic publications to stay abreast of market trends. Demand for specific 1879 silver dollars fluctuates, influencing their value. Observing these trends helps collectors to identify opportune times to buy or sell coins, maximizing returns or minimizing acquisition costs.
Tip 5: Consider Long-Term Storage. Proper storage is essential to preserve the condition of 1879 silver dollars. Store coins in archival-quality holders or albums designed for numismatic preservation. Avoid handling coins directly, as oils from skin can damage the surface. Maintain a stable environment with controlled temperature and humidity to prevent corrosion or tarnishing. Long-term storage significantly impacts the preservation and value of a collection.
Tip 6: Diversify a Collection. Aim to acquire a variety of mint marks, grades, and varieties within the 1879 silver dollar series. Diversification reduces risk and expands collecting knowledge. A well-diversified collection provides a more comprehensive representation of the series, enhancing its overall historical and numismatic value.
Tip 7: Consult Reputable Dealers. Establish relationships with reputable coin dealers who possess expertise in Morgan silver dollars. Their knowledge can guide collecting decisions, provide access to rare examples, and offer fair prices. Seek dealers who are members of professional organizations and adhere to ethical business practices. A trusted dealer serves as an invaluable resource and advisor.
Adhering to these tips will contribute to a more informed and successful collecting experience. Knowledge, diligence, and responsible practices are essential for navigating the complexities of the 1879 silver dollar market.
The concluding section will summarize the key aspects of the 1879 silver dollar and its enduring place in numismatic history.
Conclusion
The preceding exploration of the silver dollar from 1879 underscores its significance as more than mere currency. It is a tangible artifact reflecting a confluence of economic policy, artistic expression, and historical circumstance. The Morgan dollar design, mint mark variations, and silver content all contribute to its enduring appeal within the numismatic community.
Continued study of the silver dollar from 1879 is essential to preserving its historical context. Its value, both intrinsic and numismatic, serves as a reminder of the complex interplay between monetary policy and national identity. Further research is encouraged to deepen understanding of this important piece of American history, ensuring its legacy endures for future generations.
