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There were four main mints that produced the Morgan silver dollars, with each mint carrying its own interesting history from the time of the Morgan and after. The Philadelphia Mint is the oldest mint in the US, being established in 1792. After the ratification of the Constitution, the Founding Fathers needed to establish a national identity and a means of commerce. At the time, Philadelphia was the capital of the US so it only made sense for the first mint to be built there. The Mint Act was also passed, during this time, to assign coins denominations based on their legal tender or metal fineness. This act also constituted that any coin in the US should feature "an impression emblematic of liberty." Your 1881 Morgan has been certified by PCGS and has received the optimal grade of MS64. Your Morgan comes complete in an official certified PCGS holder, sporting its proud grade.