MOMENTAN AUSVERKAUFT
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Product Information
<h2>Q. David Bowers</h2>The following narrative, with minor editing, is from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993).<br/><br/>Coinage Context <br/><br/>The silver market in San Francisco: London was the primary market for gold and silver in the 1860s and 1870s. The discovery of the Comstock Lode deposits in Nevada 1859 and their consequent exploitation in the 1860s brought much investment capital from England to Nevada, just as the British would invest over $100 million in the Cripple Creek District gold mines in the 1890s <br/><br/>On the open market, the San Francisco price for silver bullion was less than in London, for about 2% had to be added for transport by sea from California to England. <br/>In San Francisco and throughout California and Nevada there were dozens of banks, assayers, and others who took in silver bullion, refined it, and paid out ingots and bars. Typically, such refiners would charge from about 2% for large quantities, to 5% or 6% for small amounts. In contrast, the San Francisco Mint levied a charge of 1.5% for metal delivered to it. Thus, over a period of time the mint became the main depository for silver metal. <br/><br/>Dies and collars for Morgan dollars arrived at the San Francisco Mint on the evening of April 16, 1878. <br/><br/>The initial striking of Morgan dollars took place at 3:30 in the afternoon of April 17. In attendance were representatives of the press, former governor F.F. Low, mint officers, and others. The first specimen was presented to coiner Cicott, who acted as master of ceremonies for the event. After nearly 1,000 coins were struck, one of the dies broke, the press was stopped, and further coinage was suspended until the following day. (Per an account in the New Alta California, April IS, 1878, quoted by Van Allen and Mallis, p. 91, from a copy in the California State Library.)<br/><br/>Numismatic Information <br/><br/>Hoard coins: It is believed that as of June 30, 1913, the majority of the original mintage of 1878-S (probably five to six million coins out of a total of 9,774,000), and nearly all of the original mintages of 1879-S, 1880-S, 1881-S, and 1882-S were stored at the San Francisco Mint, to be paid out over a period of decades thereafter. Especially large quantities were released in the early 1950s-so many that 1878- S was one of the most often seen Mint State Morgan dollars for years afterward. Many bags were also distributed later in the 1950s and especially during the 1962-1964 dispersal. In The Forecaster, September 15, 1971, John Kamin gave his opinion that about 7% of the original mintage of 1878-S was released circa 1962-1964, a figure equal to about 600,000 coins. <br/><br/>Harry J. Forman bought 10 bags from Phil Carlino; they probably came to Las Vegas by truck directly from the San Francisco Mint or the San Francisco Federal Reserve Bank (to which depot many silver dollars were transferred in the late 1930s, when the old San Francisco Mint operations were transferred to a new facility on Duboce St.). This date was said to represent the fourth largest single holding of Morgan silver dollars in the Redfield hoard.' One estimate placed the Redfield quantity at 5,000 coins and noted that the coins were in lower Mint State grade ranges. <br/><br/>By 1982, Wayne Miller considered the 1878-S to be the least available of the early San Francisco Morgan dollar issues 1878-1882 in Mint State. However, earlier this was not the case, and he recalled a January 1964 advertisement to buy all Uncirculated silver dollars with the exceptions of the following, which at the time were considered to be the most common: 1878-S Morgan, 1921 Morgan, 1922 Peace, and 1923 Peace. Wayne Miller went on to suggest that as 1878-S dollars were once common, many investors and numismatists turned them back to hanksProduct Identifiers
DesignerGeorge T. Morgan
eBay Product ID (ePID)170476028
Product Key Features
Strike TypeBusiness
Mint LocationSan Francisco, San Francisco, California
Composition90% Silver, 10% Copper
Year1878
Dimensions
Weight26.73g
Additional Product Features
Mintage9774
MintSan Francisco
Denomination$1
PCGS Number7082
Diameter38.1mm
Mint MarkS
EdgeReeded
Bewertungen und Rezensionen
Relevanteste Rezensionen
- 03. Mär. 2017
1878 Morgan Silver Dollar
This is the first year issue of the Morgan Silver Dollar. A Beautiful Coin with a long storied history. A great value not only to coin collectors, but a great way to collect silver coins. I'm a Football Official and have found the coin I want to use for every coin flip! One day my children will have a coin that is not only connected to American History but one that will have family tradition connected to it.Bestätigter Kauf: Ja
- 11. Apr. 2017
Can't go wrong with Morgans
The 1878-S Morgan is a common coin but in the grade of MS 65 PL notation, makes this coin more desireble as a rarity. The cameo in this is average as compared to coins with STAR notation but with no PL notation which I HAVE EXAMPLES. Overall, at any price for high grade Morgans by NGC or PCGS., you cannot go wrong.Bestätigter Kauf: Ja
- 04. Jul. 2018
sale of 1878s Morgan silver dollar
1878s Morgan was high grade and auction price was reasonable. Not bad for first year production of a coin that is 139ys. old.Bestätigter Kauf: Ja
- 05. Mär. 2017
PCGS Certified Coin
All certified coins have ranges of quality within the grade. This coin is in the higher end of the certified grade.Bestätigter Kauf: Ja
- 27. Dez. 2016
First Morgan Silver Dollars
The 1878 Morgan silver dollars were the first series of the new silver dollars. Their popularity has greatly increased over the years as evident by their great increase in value and price. Those in BU and greater condition command top dollar. They are truly an addition to any collector. I would recommend to any collector, beginner or otherwise.Bestätigter Kauf: Ja
- 06. Mär. 2018
Morgan Silver Dollar
Received the coin and it is in good shape. Adding all the first year Morgans to my collection. I am very happy with my purchase.Bestätigter Kauf: Ja
- 17. Mai. 2025
A very nice quality coin.......semi-proo...
A very nice quality coin.......semi-proof like and a great example. I do not have enough of the 1878's and will start adding to my collection. Thanks again for such a nice coin!Bestätigter Kauf: Ja
- 24. Feb. 2017
1878 morgan silver dollar s
I got a rare find for me on ebay. A 1878 s morgan silver dollar. Not rare for those who collect. But i am not a collector. I like history. And 1878 was a turning point in our history. Silver was in great quantity and the us government was producing vast quantities of silver dollars. Namely the morgans.Bestätigter Kauf: Ja
- 29. Dez. 2016
"Toned beautifully with age."
Just look at the colors it is a work of natures art, its over one hundred years old and is American as apple pie. They just do not make coins like this anymore and it is almost an ounce of silver ! How can you go wrong ?Bestätigter Kauf: Ja
- 01. Feb. 2024
Great coin
If you love history and precious metals who can go wrong?Bestätigter Kauf: Ja
