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The 1921 Morgan was the last of the magnificent Morgan dollars ever minted. Today Morgan dollars are prized by collectors, but that was not always the case for these legendary coins. The Bland-Allison Act of 1878 paved the way for the creation of the Morgan silver dollars. In 1873 the Liberty Seated dollar had been discontinued, and the silver mining industry was eager for the government to produce silver dollars again to relieve an oversupply of silver created by the rich silver strikes from the Comstock Lode and other mines.
The Bland-Allison Act mandated the government purchase $2-$4 million dollars of silver monthly for coin production. Despite being vetoed by President Rutherford B. Hayes, the bill passed and the Morgan dollar was born soon after.
Designed by George T. Morgan, the Morgan dollar was not popular with the American public. Considered to be too heavy, many also thought the coins were unattractive. The eagle design was considered scrawny and more in the image of a buzzard. Thats why a common nickname for Morgan dollars was “buzzard dollar”.
The Morgan dollar survived despite its unpopular status with the public, and saw America through during many exciting changes. From the days of the Old West and outlaws like the James gang to the dawning of the age of automobiles, the Morgan dollar was there to see all the changes America went through.
Morgan dollars survived other setbacks as well. The Pittman Act of 1918 mandated the melting of silver coins for the sale at $1.00 per fine ounce to Great Britain. Under the terms of this legislation, over 270 million coins were melted, many of them Morgan dollars.
The Morgan dollar was minted for the last time in 1921. The Philadelphia Mint produced 44,690,000 Morgans, San Francisco coined 21,695,000, and Denver minted 20,345,000 that year.
The 1921 Morgan [http://www.morgancoindepot.com] was the only Morgan coin ever minted in Denver.
Gone are the days when Morgan dollars are ridiculed and scorned. Like a Phoenix rising from the ashes, Morgan coins survived all forms of adversity and are one of the most popular coins ever minted. Many Morgan dollars can be found in remarkably well preserved condition, and this contributes to the immense popularity the Morgan dollar enjoys today.
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