In 1904, it looked like the end for the Morgan Silver dollar. The silver that had been bought by the U.S. Treasury in accordance with the Sherman Silver Purchase Act of 1890 had finally been exhausted. Because there was a large supply of dollars in circulation at that time, the Treasury made no plans to ever reintroduce the Morgan dollar.
In 1918, the U.S. made the decision to help its World War I ally, Great Britain. The German propaganda machine had successfully convinced the people of India that British silver certificates were worthless. Consequently, there was a run on British silver coins, putting Great Britain in a difficult position. To help, Congress passed the Pittman Act of 1918, authorizing the melting of 350 million silver dollars. These were sold to Great Britain at the rate of one dollar per troy ounce of silver.
The Morgan dollar looked to be a thing of the past. However, the Pittman Act also allowed for coins melted down to be replaced coin for coin. In 1921, with silver from existing coins, the Mint produced some 80 million $1 Morgan coins to replace coins that had been melted. Minting of the Morgan dollar was stopped by the war again. This time, the national victory celebration of the end of World War I was honored with a new $1 coin, the Peace dollar. Time had marched on and left the minting of the Morgan Silver dollar behind. Yet, the coin remains one of the most collectible coins in U.S. history.
At GMRgold, we offer this coin in Almost Uncirculated condition for serious collectors who want more than just a conversation piece. To learn more about our 1921 Morgan Silver Dollar AU offer or to discuss any silver or gold collectible coin or investment coin or bar, please call GMRgold Precious Metals Investment Experts at 1 (877) 795-9585. We are always happy to help and committed to serving your best interests in every transaction.