The First Morgans

The Coinage Act of 1873 eliminated the standard silver dollar. Many people blamed it for the Panic of 1873.

So in 1878 the Bland-Allison Act brought back the silver dollar on a grander scale, requiring monthly mintages in the millions.

Instead of the familiar Seated Liberty design, the new silver dollar displayed Liberty head and eagle designs by British-born engraver George Morgan. He won an internal competition at the Mint to design the coin, and placed his initial on both sides. At first, newspapers referred to it as the Bland dollar because one of its sponsors was silver lobbyist Richard P. Bland. Eventually, however, it became known as the Morgan dollar....

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