We are excited to release the seventeenth coin in the CollecTons Keepers program, an exclusive series only offered by CollecTons. The seventeenth coin we present, CollecTons Keepers #17 in Series, features the rare 1878-S Brilliant Uncirculated Morgan Silver Dollar.
Why is the 1878-S Uncirculated Morgan Silver Dollar, first year of issue, a Coin Worth Keeping?
Although there was no need for a new silver dollar in the late 1870's, mounting political pressure from American silver-miners pushed Congress to authorize its production. With the Comstock Lode in Nevada producing massive quantities of silver, Missouri Representative Richard "Silver Dick" Bland succeeded in passing the Bland-Allison Act on February 28, 1878. This act required the Treasury to purchase between two and four million troy ounces of silver bullion every month to be coined into dollars.
The Treasury had anticipated the upcoming demand and began preparing a new silver dollar coin in October of 1877. Chief Engraver, William Barber, and one of his assistants, George T. Morgan were assigned the task of designing this new coin. Morgan recruited a Philadelphia school teacher, Anna Willess Williams, to pose for the new design.
The first Morgan silver dollars were struck at the Philadelphia mint at 3:17pm on March 11, 1878. The first acceptable piece struck was given to President Hayes. Dies arrived at the western mints, San Francisco and Carson City, on April 16th, 1878, and full scale production began soon after
The design for the obverse features a left-facing portrait of Lady Liberty. The reverse shows a somewhat scrawny eagle which led to the nickname "buzzard dollar" for this coin. Morgan's initial "M" appears on both sides of the silver dollar, which is the first time this has been engraved on a United States coin. The mint mark is found below the wreath on the reverse side.
Today, the 1878-S Morgan Silver Dollar Coin, first year of issue, is highly sought after. It is the first of its series and is one of the most popular series for coin collectors today.
Mints: San Francisco
Designers: George T. Morgan
Composition: .900 silver, .100 copper
Weight: 26.73 grams
Face Value: 1 Dollar
Authorizing Law: Bland-Allison Act
What makes the Collectons Keepers program special?
Here at CollecTons, we work hard researching coins that should be part of every collection. Our goal is to utilize our knowledge in the numismatic industry to select coins worthy of being in everyone's collection! Therefore, the CollecTons Keepers program will only feature those Coins Worth Keeping.
Each coin is hand selected and given to ANACS (America's Oldest Grading Service) for grading and authentication. The coins are then sealed in an ANACS certified proprietary slab holder for long-term storage, with our limited edition label marking it a CollecTons Keeper.