History, Information, and Value of 1878 Morgan Dollar
Value of 1878 Morgan Silver Dollar with 7 Tail Feathers Reverse of 1879
The last 7 Tail Feathers reverse is the Third Reverse with slanting top arrow feather (SAF) and convex breast to the eagle. This is referred to as the Reverse of 1879. An estimated two million were struck for circulation and only an estimated 25 to 50 Proofs were minted. Circulation strikes are well struck, but the sharpest examples are elusive and require patience to find. Buyers should be aware that certification labels do not mention the quality of the strike. The eagle’s breast is rounded on all. Most have excellent luster. As for Proofs, it is estimated that fewer than two dozen exist today. Collectors who find a Proof with a degree of cameo contrast and a decent strike have found the Holy Grail among early Proofs. Both the 7 Tail Feathers Reverse of 1878 (PAF) and Reverse of 1879 (SAF) varieties were not widely known in their time and interest in them did not develop until more than a century later. Both styles lack an official mintage figure. Most people will comment on how their coin does not have a mint mark, but the Philadlephia Mint did not mint mark their coins since they were the standard mint.
Despite Being Old, These Circulated Morgans Are Common: Grades from VG to AU are found in today’s numismatic marketplace, and coins are often available for a pittance over silver content in the lower grade ranges. Pleasing AU coins are often seen, some much finer than others, so choose carefully.
High Grade Gems Are Scarce: This issue can be found in all Mint State grades up to and including Gem MS-65; after that the population thins somewhat though specimens are still available with some regularity. MS-64 is a grade that delivers quality and value for this issue.
The obverse text on the Morgan Dollar reads “Liberty; E Pluribus Unum; 1878.” The reverse text on the Liberty dollar reads “United States of America; In God We Trust; One Dollar.” The obverse of the silver one dollar coin has a bust of a female facing the left wearing a cap and small crown, with flowers tucked in her hair and stars surrounding the border. The reverse of the Morgan Dollar has an eagle in the center with its wings spread and a wreath surrounding.
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