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The Certified Morgan Silver Dollar 1878 7/8TF VAM 38 MS62 PCGS is a remarkable piece of American numismatic history that captures the spirit and artistry of the late 19th century. This specific coin is part of the iconic Morgan Silver Dollar series, which has become one of the most collected coins in the United States. The 1878 issue is particularly noteworthy due to its significance in the series and its status as a variety coin, making it a sought-after item for collectors.
The history of the Morgan Silver Dollar begins in the aftermath of the Coinage Act of 1873, which effectively ended the free coinage of silver. This legislative change spurred a public outcry for the restoration of silver as a circulating medium, leading to the passage of the Bland-Allison Act in 1878, which mandated the U.S. Treasury to purchase silver and mint silver dollars. The Morgan Silver Dollar was designed by George T. Morgan, who was an engraver at the U.S. Mint. The coin was first issued in 1878, and it quickly gained popularity due to its size, design, and the intrinsic value of its silver content.
The 1878 Morgan Silver Dollar features a design that is both classic and rich in symbolism. The obverse showcases a detailed portrait of Lady Liberty, depicted in profile. She wears a Phrygian cap, a symbol of freedom, adorned with a wreath of cotton and wheat, representing America’s agricultural wealth. Surrounding Liberty’s image are the inscriptions “E PLURIBUS UNUM” and “1878,” marking the year of minting. The attention to detail in Lady Liberty’s features and the flowing lines of her hair highlight Morgan’s skill as an engraver, making this design one of the most recognizable in American coinage.
The reverse side of the coin features a majestic bald eagle, which has long been a symbol of strength and freedom in the United States. The eagle is depicted with its wings outstretched, grasping arrows and an olive branch, signifying the balance between military power and the pursuit of peace. The reverse also includes the inscriptions “UNITED STATES OF AMERICA” and “ONE DOLLAR,” affirming the coin’s legal tender status. The intricate details of the eagle and the surrounding design elements create a powerful representation of national pride and unity.
The minting of the 1878 Morgan Silver Dollar occurred at several U.S. Mint facilities, including Philadelphia, Carson City, New Orleans, and San Francisco. The coin in question, however, was minted in San Francisco, a key site for coin production during the late 19th century. The San Francisco Mint played a vital role in producing silver coins to meet the demands of a rapidly growing economy. The 1878 Morgan Silver Dollar was struck in .900 fine silver, containing 0.7734 ounces of pure silver. This composition not only contributes to the coin’s value but also ensures its durability and appeal as a collectible item.
In terms of mintage, the 1878 Morgan Silver Dollar had a total production of approximately 9.7 million pieces, with a significant number struck in the San Francisco Mint. Despite this high mintage, the survival rate of high-grade examples is relatively low due to the coin’s circulation over the years. The MS62 grade assigned by PCGS indicates that this particular coin has been well-preserved, displaying only minor signs of wear while retaining much of its original luster and detail. The VAM 38 designation signifies a specific variety that features a 7/8 tail feather, further enhancing its collectibility and interest among enthusiasts.
Collectors are particularly drawn to the Certified Morgan Silver Dollar 1878 7/8TF VAM 38 MS62 PCGS for various reasons. Its historical significance connects it to a pivotal moment in American coinage, allowing collectors to explore the narratives surrounding the return of silver currency and the artistry of Morgan’s design. The exquisite craftsmanship and high-quality minting make it not only a financial asset but also a beautiful piece of art that can be appreciated for its details. Additionally, the specific variety and MS62 grade add an element of rarity, making it a valuable addition to any collection.
The cultural significance of the Morgan Silver Dollar extends beyond its monetary value; it serves as a reminder of the values and aspirations of a nation during a time of economic transformation. The imagery of Lady Liberty and the eagle resonates with themes of freedom, resilience, and national pride, reflecting the hopes of a country evolving toward the 20th century. Collectors who appreciate the stories behind their coins often find this piece particularly compelling, as it embodies the essence of American history and identity.
Moreover, the Certified Morgan Silver Dollar 1878 is often presented in a protective holder that enhances its display and preserves its condition. This careful packaging reflects the importance of maintaining the coin's integrity for future generations, allowing collectors to showcase this beautiful piece effectively while protecting it from potential damage. Such attention to detail ensures that the coin remains a cherished part of any collection.
In conclusion, the Certified Morgan Silver Dollar 1878 7/8TF VAM 38 MS62 PCGS is a significant artifact that captures a crucial moment in American history while showcasing the artistry of its design. With its rich heritage, intricate imagery, and historical importance, this coin stands as a testament to the legacy of the Morgan Dollar and the craftsmanship of the U.S. Mint. Whether for personal enjoyment, investment, or as a cherished addition to a collection, the 1878 Morgan Silver Dollar is sure to be valued by collectors and history enthusiasts for years to come.