United States silver dollars have long been prized by coin collectors, but they also have a background that's valued information for lovers of American history.
Thomas Jefferson first proposed minting a silver dollar coin in 1785 and when Treasury Secretary, Alexander Hamilton, projected a monetary system for the emerging United States of America, they began producing the coins, including the Flowing Hair silver dollar in 1794.
Silver dollars were minted in varying degrees of silver content until silver became scarce. When the incredible riches of Nevada's Comstock Lode were discovered in the late 1850s, silver prices plummeted and the Treasury Department was required by Congress to begin producing silver coins. The Trade Dollar was minted in Philadelphia, Pennsylvania specifically to improve trade with the Orient - mainly China.
The Morgan silver dollar was designed by George T. Morgan and minted from 1878 until 1904, then ceased because of the huge amount of dollars in circulation and silver bullion again became scarce. Then, in 1921, the Morgan silver dollar was minted again, but only for the year. Silver prices skyrocketed after 1921, and Morgan dollars were melted for their content of silver bullion.
Carson City Morgan dollars were discovered at the Carson City Mint where they were produced in the 1800s. They were ultimately sold by the federal government to coin collectors in the 1970s and are some of the most prized in coin collecting.
The history of silver dollars in America is fascinating and has produced a huge following of collectors.
United States silver dollars continue to be one of the most valued silver coins collectible worldwide.
Among silver dollars, Carson City Morgan dollars are most valued dollars, and here is why.
Carson City Morgans (CC Silver Dollars) demand an indomitable place in American history. After massive quantities of silver were discovered in the 1850s in Carson City, Nevada, the town built and maintained a mintage that produced what became known as the CC Morgans.
The Carson City silver dollars look the same as the Morgan dollars, with the face of Liberty and an eagle on the reverse side, but also display the double C mint mark on the reverse side. This fact makes it extremely valuable to collectors.
Millions of Carson City silver dollars were minted during certain years, but in other years only a few thousands were minted. As a result, Carson City silver dollars total less than one per cent of the total number of American silver dollars that were minted before and after them.
All Carson City Morgans are considered very collectible, but among the most valuable of these is the 1885 Morgan CC. During this year, very few of these silver dollars were minted. The Carson City mint was officially closed in 1893.
Meanwhile, the numismatic hobby was growing by leaps and bounds. Then, in the late 1930s a few coin dealers discovered that there were uncirculated Carson City silver dollars worth $5.00 each in Washington D.C.'s Treasury Department. Naturally, the dealers began to take advantage of the opportunity.
New interest in Carson City Morgans began in 1972 when the General Services Administration began to distribute them in mail-bids. This continued until1980, when the entire cache of CC dollars was gone.
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