1882-O Morgan $1 NGC MS63

Silver dollar coins were first struck by the United States Mint in 1794. They were the largest denominations of silver coin. But the Coinage Act of 1873 eliminated the silver dollar coin, and it prohibited the exchange of silver ore or silver dollars as well. The rationale behind these actions was to encourage the use of gold dollar coins.
But in 1878 the Bland-Allison Act was passed, and that law restored the striking of a silver dollar coin. More importantly, the Act of 1878 required the Secretary of the Treasury to purchase $2 million dollars of newly mined silver from Western mining interests, every month.
The new silver dollars coins were struck from 1878 until 1904. But due to a shortage of silver after World War I, these silver dollars were struck again in 1921.
Now new coin designs had to be created. George T. Morgan, the Assistant Chief Engraver of the United States Mint, created a design for each side of this brand new silver dollar.
Morgan’s obverse design displayed a representation of a portrait of Miss Liberty, facing to the left. She wore a Phrygian cap (a slave cap) on her head, and a crown made of cotton and wheat. She also wore a headband on which the word “LIBERTY,” was inscribed.
On the obverse, the upper periphery displayed the motto, “E PLURIBUS UNUM,” with the date shown on the lower periphery. There are also thirteen six-pointed stars around the periphery – seven on the left and six on the right.
His reverse design displayed a large American Bald Eagle, which also faced to the left, and the eagle’s wings are outstretched and upraised. The traditional motto, “IN GOD WE TRUST,” is centered between the eagle’s wings. This eagle is centered within an olive wreath. There are three arrows in one of the eagle’s talons and an olive branch in the other talon. On the upper periphery is “UNITED STATES OF AMERICA,” and the denomination “ONE DOLLAR,” is displayed on the lower periphery.
This coin was dated 1882, and it was struck at the New Orleans Mint, so there is an “O” mintmark underneath the eagle. The New Orleans Mint struck a small mintage of only 6,090,000 silver dollar coins during that year.
This coin is graded as MS63 by the Numismatic Guaranty Corporation (NGC), one of the three most accurate and desirable grading services in existence.
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