1895-S Morgan Silver Dollar

Congress passed the Bland-Allison Act in 1878, which forced the U.S. Treasury to buy millions of ounces of silver for coinage. They hired George T. Morgan, an assistant engraver from the Royal Mint in London, to design the new silver dollar. Morgan chose Anna Willess Williams, a Philadelphia schoolteacher, as the model for the profile of Liberty on the obverse. The reverse features an eagle with outstretched wings clutching arrows and an olive branch. Production continued until 1904 when the government ran out of silver bullion. The series returned for a single year in 1921 after the Pittman Act authorized the melting of millions of existing dollars and the subsequent replacement of that silver. This 1921 issue is the only year that features the design with slightly flattened relief details. The Morgan Dollar series ended permanently in December 1921 when the Peace Dollar replaced it.

Start your collection with common dates like 1881-S, 1882-S, or 1898-O, which you can find in Mint State grades for a reasonable price. Focus on coins with full, crisp details on Liberty's hair and the eagle's breast feathers, as these areas show wear first. Watch for heavy bag marks, which are common on these coins due to how they were stored in canvas sacks at federal vaults. Be wary of fake coins, especially for key dates like the 1893-S or 1889-CC, and always check for the correct mint mark placement and surface texture before you buy.