Silver Dollar Blog - How many Morgan Dollars were minted each year?

Oct 16, 2012

 

How many Morgan Dollars were minted each year?

Every year had a story to tell. In the beginning silver was around $1.10 per ounce and stayed that way for quite awhile. The Treasury followed the Bland-Allison Act and purchased the minimum of $2,000,000 worth of silver each month. The Treasury was pretty unsympathetic when it came to silver, but faithfully purchased the amount required each month. You can see in the chart below that Morgan's were pretty steady from 1878-1885

Between 1886 to 1890 the price of silver fell to about $0.90 per ounce. This meant the Treasury had to increase the amount of Silver Dollars to keep with the quota presented by the Bland-Allison Act.

In July 1890 The Sherman Silver Purchase Act was passed and the Bland-Allison Act repealed. This new act required the Treasury to purchase $4,500,000 ounces of Silver Bullion each month.

There is a dip in mints produced starting in 1891 for a few years. This is because under the Sherman Silver Act the Treasury had to purchase the silver, but didn't have to turn around and mint it that year. Since there were a lot of uncirculated silver dollars sitting in the vaults production slowed down. Plus you have the financial panic of 1893 and Cleveland who opposes the silver efforts.Carson City Mint is closed for awhile. All these contribute to the fall of Silver minted each year. 

Of course the year the most were minted was 1921!

What is your favorite Morgan year, and why?

Morgan Dollars Minted By Year

1878 Silver Dollar - 22,495,550
1879 Silver Dollar - 27,560,100
1880 Silver Dollar - 27,397,355
1881 Silver Dollar - 27,927,975
1882 Silver Dollar - 27,574,100
1883 Silver Dollar - 28,470,039
1884 Silver Dollar - 28,136,875
1885 Silver Dollar - 28,697,766
1886 Silver Dollar - 31,423,886
1887 Silver Dollar - 33,611,710
1888 Silver Dollar - 31,990,833
1889 Silver Dollar - 34,651,811
1890 Silver Dollar - 38,043,004
1891 Silver Dollar - 23,562,735
1892 Silver Dollar - 6,333,245
1893 Silver Dollar - 1,455,792
1894 Silver Dollar - 3,093,972
1895 Silver Dollar - 862,880
1896 Silver Dollar - 19,876,762
1897 Silver Dollar - 12,651,731
1898 Silver Dollar - 14,426,735
1899 Silver Dollar - 15,182,846
1900 Silver Dollar - 24,960,912
1901 Silver Dollar - 22,566,813
1902 Silver Dollar - 18,160,777
1903 Silver Dollar - 10,343,755
1904 Silver Dollar - 8,812,650
1921 Silver Dollar - 86,730,000

These numbers came from "Morgan & Peace Silver Dollars"



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