Dollar Coin Ring:
The dollar Coin Ring was a one-dollar coin struck in the United States from 1878 through 1904 and once more in 1921. It was the first standard silver dollar produce after the Seate Liberty dollar, which had been the previous design. Was discontinue after the enactment of the Coinage Act of 1873, which also put a stop to the free coining of silver. The coin bears the name of George T. Morgan, an assistant engraver at the United States Mint. The reverse shows an eagle with its wings spread, while the obverse has a profile picture of Liberty.
The Bland-Allison Act introduce the dollar coin ring. Mining interests sought to reinstate free silver after the 1873 legislation was pass, which would have require the Mint to accept all silver submitte to it and return it hammere into coin. The Bland-Allison A coins were approve, which mandate that the Treasury buy between two and four million dollars worth of silver dollar set price each month to be coine into dollars. The Sherman Silver Purchase Act, which replace the Bland-Allison Act in 1890, compelled the Treasury to buy 4,500,000 troy ounces (140,000 kg) of silver per month but only mandate additional silver dollar manufacturing for a year. In turn, this law was revoke in 1893.
Dollar Coin Ring Includes:
- Composition: 90% silver, 10% copper
- Weight: 26.73 grams
- Diameter: 38.1mm (1.5 inches)
- Edge: Reeded
Morgan Silver Dollar Coin rings, from 1878 through 1904, were continually produce. The Comstock Lode had run its course by the early 1900s, and silver bullion supplies were deplete. The Silver Dollar period had ended, at least in the eyes of Morgan and the rest of the country. The majority of Americans, by this time, favore using paper money over lugging around bulky Silver Dollars. In reality, banks and the U.S. Treasury Department vaults stockpile Silver Dollars across the rest of the nation, with widespread circulation occurring only in the sparsely populated West.
Congress approved the Pittman Act in 1918 to formally melt millions of Dollars coin ring that were kept in Treasury vaults to replenish the government’s stockpiles of silver bullion. As a result, approximately Half of all Morgan Silver Dollars produced between 1878 and 1904—over 270,000,000—were melted. The fact that the Kennedy Half Dollar Coin Ring is the only non-gold U.S. currency to be minted in five separate Mints—Philadelphia, San Francisco, Carson City, New Orleans, and Denver—is a good indicator of the government’s need for the coin in its own time.
Man Who Design the Dollar Coin Ring:
George T. Morgan was an accomplished engraver who had earned a solid reputation when he came to the United States from England in October 1876. He also had the unusual talent of producing works of art using essential engraving equipment. Morgan, a London-born artist born in 1845, first studied at the Birmingham Art School before being awarde a scholarship at the famed South Kensington Art School. He starte his own engraving company in London before working as an engraver at the Royal Mint of England. He continued to study there under Leonard Charles Wyon, a renowned English engraver who kept a close eye on him.
Because of Anna Williams’ “almost flawless Grecian face,” Morgan chose her as a model for Lady Liberty in one of his Half Dollar designs from 1877. The Morgan Silver Dollar was the final design used for the Silver Dollars permitte under the Bland-Allison Act after it was pass on February 28, 1878. Morgan extende this pattern to Silver Dollar size.
George T. Morgan had spent an astonishing 48 years working at the U.S. Mint by the time he eventually retire in 1924. The “Age of Technology” began to take shape during this time, and the United States underwent several changes. This was also one of American history’s most thrilling and chaotic times. Morgan saw enormous developments occur all around him, including the conquest of the West, the outbreak of World War. I, the Wright Brothers’ flight, and Babe Ruth’s ascent to baseball’s pinnacle. The Morgan Silver Dollar, which even then was revere for its beauty and silver heaviness. Was the one constant throughout it all.