Remember When: The First Morgan Dollars

By Q. David Bowers, Chairman Emeritus

The First Morgan Dollars

We all love Morgan silver dollars. Or, at least many of us do. First struck on March 11, 1878, they were made each year through 1904, then again in 1921. Today, the Guide Book of United States Coins lists about 100 basic varieties, most of which are available in Mint State for very reasonable prices. There are exceptions, of course, but for relatively little expense a very nice collection of dozens of the more available varieties can be made.

We share this news item printed the day after the first pieces were coined, from the Chicago Daily Tribune, March 12, 1878:

THE FIRST DOLLAR

It was coined yesterday afternoon at 3:17.

Philadelphia, March 11. There had been no announcement of the time for beginning the coinage of the new silver dollars at the Mint, so it was by accident that your correspondent, dropping in at 2 o’clock this afternoon, was the only press representative there to see the first of the new coinage made. The dies were finished soon after noon, and the first pair was placed in the largest coining machine, used for double eagles. A little time was spent and half dozen planchets spoiled before the dies were exactly adjusted. Then Albert Downing, foreman of the coining room, put a polished planchet under the press, and, giving the wheel a single revolution, the first dollar was stamped. It was removed by hand, and critical examination developing flaws, the pressure was readjusted and another put in.

Ten more were then coined, but the eleventh was found to be defective, and this, as well as the first, was at once defaced and returned to the melting room. The first twelve having been struck on polished planchets were removed by hand, to prevent indentation, and each enclosed in an envelope numbered to show the order of coinage. The first goes to the President, and the second to Secretary Sherman. The first was struck at 3:17, and at 3:35 the steam was turned on and the dollars began merrily clanking into the box at the rate of eighty a minute.

Tomorrow two more pairs of dies will be finished, and another machine put to work, turning out $150,000 of the new shiners a day. The dies for the San Francisco and Carson mints will be ready then, and will be forwarded at once. The first delivery will be made on Thursday. The Secretary has as yet made no orders for the first issue of the new coinage, but it is believed that it will be issued only for gold coin, because it will command the same price readily.

Orders are already in for millions from storekeepers who want them for advertising purposes. Whatever silver finds its way into the Treasury will be promptly paid out for the purchase of bullion for coining purposes.