Last Updated on April 4, 2022
Although the Silver Dollar was launched in the United States in the late 19th century, it was not until just before the turn of the twentieth century that the coins became exceedingly common and popular in their use. Nowadays, most of our money is printed on paper, which is why enthusiasts are continuously on the lookout for the Morgan Silver Dollars.
Early editions, such as the 1878 Silver Dollars, are particularly popular because they were one of their kind. There are plenty of 1878-CC Morgan dollars available, but they can be difficult to locate if you’re looking to complete a mid-grade circulating set. The AU dates of the day receive much attention. There are likely to be numerous specimens that have been seen frequently or are in excellent condition. Many people are in disagreement with one another.
How Much Is 1878 Silver Dollar Worth?
Silver Morgan Dollars are among the most popular coins in the United States.
This 1878 coin, which is made of pure silver, can be found in the collections of most numismatists. Nonetheless, what is the value of the Morgan silver of 1878? Pawnshops are willing to pay at least $35 for an 1878 Morgan silver coin with a face value of just $1.
Collectors received silver coins from the San Francisco Mint between 1971 and 1974, which had 800 parts silver and 200 parts copper. It was planned to use the coins in circulation from 1971 to 1974, therefore they were created with 75 parts copper and 25 parts nickel.
When it comes to silver, the 26.73 grams of fine silver have a melt value of $17.50, while the most costly verified mint state coin can fetch up to $12,000 in value. It is one of seven coins of the United States designed by George Morgan. Because of its great size and weight, it was dubbed the “cartwheel. “
Find out more about the silver dollar’s intrinsic value, as well as some of the most common myths and misconceptions surrounding it, by reading on. At the pawnshop, you could get at least $23.76 for the silver from 1878. In fair condition, eight-tail fanged money is worth $53. In MS+ condition, it’s worth more than $1,677, but less than $2,000.
What Is The History Of The 1878 Silver Dollar?
Those coins have a great design and remain highly coveted by collectors worldwide despite their age. Trying to figure out the value of a specific 1878 Morgan Silver Dollars is not a simple task. Instead, pay attention to the coin’s composition before making a purchase. The rarity of a specific type in Morgan Silver Dollar influences its asking price, in part because of the wide variety in Morgan Silver Dollars manufactured each year.
First and foremost, the quality of the coin will influence the asking price because collectors care about it so much. A price guide for Morgan Silver Dollars based on the coin’s condition and type is provided in the table below.
Comstock Silver dollar coins became prominent in the 1850s and 1800s due to widespread lode silver mined in the United States. Silver would have to be undervalued before this discovery for the country to reap the full benefits of this discovery.
It was in 1837 that the Bland-Allison Act became enacted. As a result of this Action of 1837, which was enacted in 1837, the weight and quality of the conventional silver dollar were restored to what they had been before the Act of 1837. 26.73 grams of silver and 100 grams of copper make up the total. It’s like this:
Because it was produced by George T. Morgan, this new currency would be referred to as the “Morgan Dollar” (who, from 1917-to 1925, would serve as a chief engraver). Spanish Old currency Act of April 2, 1792 (1 Stat. 246, 248) stated the following: A depiction of Lady Liberty graces the front, while a heraldic eagle adorns the back. This is perfectly legal. It wasn’t until 1878 that the first Morgan Dollar currency was struck. The Philadelphia Mint produced them.
In addition to San Francisco and Carson City, these coins were struck this year. Due to their proximity to mining towns in the West, these cities were able to produce these coins. The next year, New Orleans followed in the footsteps of San Francisco but also Philadelphia by beginning production of Morgan Dollars as well. Until 1904, they produced them.