The Morgan Silver Dollar was struck by the United States Mint between 1878-1904 and then again in 1921. Each year the coins were composed of 90% silver. A total of .77344 ounces of the precious metal are within each silver dollar.
Morgan Silver Dollar 1921
- Prior to the production of the Morgan Silver Dollar, the United States Mint had not minted a coin of this denomination for domestic commercial transactions since 1873 and the Seated Liberty Dollar. The Trade Dollar was being produced at this time, but it was meant for circulation in the Orient.
The United States Mint started producing the Morgan Silver Dollars in 1878 as directed by provisions of the Bland-Allison Act. Under this Act, the Treasury Department was required to purchase between two and four million dollars worth of silver each month to be used in silver dollars.