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All Morgan Dollars Are Now At Least A Century Old!

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Pillar of the Community
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 Posted 01/03/2021  12:12 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
I've tried to look up when the last Morgan dollar was struck but to no avail. Best I can find was the following articles from the ANA's The Numismatist magazine. So technically I suppose nss-52 is correct in stating they aren't 100 until next year, as it appears they were struck at least through August/September of 1921 and quite possibly into 1922 even. NNP has been releasing more and more scans of the Mint Ledgers so maybe some more pertinent information regarding coinage dates will surface there.



Quote:
The Numismatist, April 1921:

Resumption of Dollar Coinage

"Silver Dollars Again Being Coined: After a lapse of 17 years the coinage of standard silver dollars was resumed at the Philadelphia Mint in February, the report of the month's coinage printed in this issue showing that 56,000 pieces of that denomination were struck during the month. In response to a letter addressed to the Superintendent of the Mint, asking for particulars, the following was received:

"'Replying to your letter of the 11th instant, you are advised that the standard silver dollars now being coined at the Mint are of the same design as those coined in 1904. These coins are not being paid out.'

"As the new coins are not obtainable by the public at the Mint, the inference is that they are being coined to replace those sold to foreign governments during the late war, and on account of which many silver certificates were retired from circulation."





Quote:
The Numismatist, October 1921:

Rapid Coinage of Dollars

"Government Saving Money by Coining Silver Dollars Only: The Philadelphia Mint is cutting down the interest-bearing debt of the United States $5 million a month. All of that comes about because of the concentration of the work of the three United States mints on the coinage of silver dollars to replace 350 million dollars that were melted down during the war to sell to the English as bullion.

"When all those dollars were melted the United States had to call in all the silver certificates-the $1, $2 and $5 'bills,' to speak in common lingo-representing the dollars that were deposited in the vaults of the mints. Under the law of the land the Treasury must hold a silver dollar for each dollar silver certificate issued. So with the melting of the silver dollars the silver certificates had to be recalled. To cover that loss in currency, the government issued short-term certificates of indebtedness bearing 2% interest. The silver dollars now being coined allow for the issuance of new silver certificates which are being used in calling in those certificates of indebtedness.

"There are three mints-Philadelphia, Denver and San Francisco. The Philadelphia Mint is equal in output to those in Denver and San Francisco combined.

"Last April all three plants were started on the making of the silver dollars. They were put on 24-hour working days for six days of the week. Two shifts of 12 hours each are now working in the Philadelphia Mint. Until a few weeks ago there were three shifts of eight hours each. But when Freas Styer succeeded Adam Joyce as superintendent of the Mint the third shift was put to work counting the money in the vaults in the making of an audit due to the change in administration.
"In the four months since April 20 million silver dollars have been coined. There remains on hand to be pressed into coin of the land 30 million ounces of silver, which will make approximately 35 million silver dollars.

"Robert Clark, superintendent of coinage in the Philadelphia Mint, says that the greatest production in the history of the plant is now being obtained. The daily average in production for the last month has been 260,000 silver dollars. In some days it has run as high as 275,000. That rate will be maintained until the present supply of silver is exhausted, and then the Mint for a time will go back to the coining of the smallest coins. It will take probably two years, according to Mr. Clark, to coin all of the 350 million silver dollars that will be needed to replace those melted down for England.-Philadelphia Public Ledger."

The above explains the small mintages of subsidiary silver and minor coins dated 1921, and the absence of any dated 1922.The Denver Mint ran out of dies for 1922-D cents, but could obtain no more, using the lost dies until they were so worn that the D mintmark could not be seen; the rest of the year had to be devoted exclusively to silver dollars.
The new silver certificates mentioned above are the Series of 1923.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

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Edited by westcoin
01/03/2021 12:12 pm
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 Posted 01/04/2021  11:19 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Maybe I am wrong, but if a 1921 coin was struck on, say June 30th, then it would not yet be 100 years old. So we can't say "All Morgan dollars" are 100 years old until the end of 2021
Well played!
Pillar of the Community
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 Posted 01/04/2021  10:59 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Heck to contradict myself after what looking I've done, I'm thinking maybe not until mid 2022 now. They had to full fill the coverage of Silver Certificates getting redeemed and at a production of $5 million per month that's only 60 million per year, far short of the 350 million they needed to make, I believe there were around 180-250 million when started so that would put them into mid 1922 and we know from the mintage numbers the mint wasn't making them with the higher relief 1921 Peace dollars.

Adding a neat little item I found from the Denver Mint Superintendent in 1921, a telegraph report back to the US Mint director listing the amount of "Standard Silver Dollars" struck the week of August 17, 1921 - 550,000



So there is proof that the Mint (at least in Denver) was still striking Morgan dollars well into late 1921 and just short of the of 5 million per week needed, even adding up the other two mints SF and Philly also striking them. We know from mintage figures being very low on other coins they were done striking them by April, and only concentrating on getting the hundreds of millions of silver dollars needed finished ASAP.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
Edited by westcoin
01/05/2021 12:20 am
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 Posted 01/05/2021  12:50 am  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Now lets look at 1922 Peace dollar mintages

P - 51,737,000
D - 15,063,000
S - 17,475,000
Totals - 84,275,000

And the totals given in the 1922 Annual Mint Report:

P - 50,707,473
D - 20,201,000
S - 21,480,000
Totals - 92,388,473

A difference of 8,113,473

I'm to believe these would be the Morgan dollars the mint was still striking dated 1921 then. So the Mint (all branches) were still striking Morgan dollars well into 1922 I surmise. I could be wrong though, as the Mint fiscal year ends on June 30. So getting year totals are spurious from these dates versus the dates on the coinage dies.

1921 Annual Mint Report: https://archive.org/details/annualr...921unit_b7v1

1922 Annual Mint Report: https://archive.org/details/annualr...ofdi1922unit

Maybe one of you knows how the mint comes up with the mintage figures for the year (year of date on coin) versus the Annual Report date with the fiscal year ending in June.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
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 Posted 01/05/2021  04:34 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Morgans were probably made into December of 1921, the Peace dollar production began on December 28, 1921.
Gary Schmidt
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 Posted 01/07/2021  8:44 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
I believe that as the years continue to go buy even the more common years will see more respect. 100 years old is an important boost to their perceived status as a collectable for not just coin collectors but for the larger general collecting population.
Bedrock of the Community
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 Posted 01/08/2021  11:00 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
I could be wrong though, as the Mint fiscal year ends on June 30. So getting year totals are spurious from these dates versus the dates on the coinage dies.

Correct, the 1922 annual report came out in 1923 and covers the time period for July 1, 1921 ro June 30, 1922 (fiscal year 1922) so it would be showing mintage totals for 1921 morgans struck in the last half of 1921, 1921 Peace, and the 1922 Peace dollars struck in the first six months of 1922.
Gary Schmidt
Edited by Conder101
01/08/2021 11:02 am
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