1903 Morgan $1 PCGS MS63

In 1878, the Bland-Allison Act reestablished the silver dollar coin, which had been eliminated five years earlier. After 1873, the only silver dollar coins struck were United States Trade Dollars, which were used to encourage trade between the United States and Asian nations.
But by 1878, there was enough support for the re-establishment of the silver dollar coin. Not only did the Bland-Allison Act create a new silver dollar coin, but it also required the Secretary of the US Treasury to purchase $2 million dollars each month of newly mined silver from western silver mines. That requirement assured that silver dollar coins would be in abundant supply for the future.
George T. Morgan, an English die maker and medalist, had emigrated to the United States and secured a job at the United States Mint. By 1878, Morgan was the Assistant Engraver at the US Mint. He created both the obverse and reverse designs that were selected for the new silver dollar coin. Morgan designed a coin that displayed the profile of a mature Miss Liberty, facing to the left. She is wearing a Phrygian, or slave cap and there is a crown, comprised of cotton and wheat, over it. There is a headband with the word “LIBERTY,” inscribed on it.
The upper periphery of the coin’s obverse displays the motto, “E PLURIBUS UNUM,” and below Miss Liberty’s profile is the date of striking. There are also thirteen six-pointed stars spread out around the motto.
The reverse depicts a regal American Bald Eagle, located inside of a wreath. The eagle holds arrows in her left talon and an olive branch in the right. The eagle’s wings are upright and outstretched and between the wings is “IN GOD WE TRUST.” “UNITED STATES OF AMERICA,” is on the upper periphery and “ONE DOLLAR,” is on the bottom periphery.
This coin was struck in 1903 at the Philadelphia Mint, so there was no mintmark present. The Philadelphia Mint struck a scant 4,652,000 silver dollar coins that year. This coin is graded as MS63 by the Professional Coin Grading Service (PCGS), one of the three most popular and desirable grading services in existence.
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