History, Information, and Value of 1878 Morgan Dollar
Value of 1878 Morgan Silver Dollar with 8 Tail Feathers
This series begins with the 1878 Morgan Silver Dollar With 8 Tail Feathers. It is one of four different 1878 Morgan Dollar varieties (and that is not counting branch mints). While it is the only year and mint (Philadlephia Mint) of this variety, it is not a rarity. An ample supply from the first circulation strikes remained in Treasury vaults, so that today there is an adequate supply of Mint State coins. These coins are usually well struck, with excellent luster and deep frost. Shallow eagles breast detail is usually seen on the reverse.
The 1878 8TF $1 Morgan Is Common In All Grades: The 1878 8 TF Morgan dollar can be found in grades from well-worn Fine or so up to and including AU. The date was released in quantity around the time of striking and the supply of circulated examples is large.
High Grades Are Available Thanks To Hoard Discoveries: The date was considered quite scarce prior to the mid-1950s when bag quantities were released from long-time storage in Treasury vaults, some of those coins went to Las Vegas casinos for use in slot machines. All grades are available today from MS-60 up to the Gem category. Many collectors choose the MS-64 grade for this date as that grade level offers a nice combination of value and quality, what Dave Bowers has called the Optimal Collecting Grade (OCG) in some of the books he has written for Whitman Publishing, LLC.
1878 8TF Morgan Proofs Exist: At least 150 to 200 or so Proofs of the date can be found today. The exact proof mintage is currently unknown. Any Proof of the type that has solid cameo contrast and exceptional eye appeal should be considered a prize.
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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