The Act of February 28, 1878, known as the Bland-Allison Act, restored the legal tender character to the silver dollar. Its weight was designated to be 412 1/2 grains and its fineness .900 conforming to the standards set in the act passed by Congress on January 18, 1837.
The Morgan Dollar was designed by George T. Morgan, a former pupil of Wyon in the Royal Mint in London. The bust of Liberty appears on the coin's obverse while the main design on the reverse is an eagle with wing's spread open. Production of the Morgan Dollar was done at five mints: Carson City, Denver, New Orleans, Philadelphia, and San Francisco.
When the bullion supply became exhausted, production of the silver dollar was suspended in 1904. The Pittman Act of 1918, provided for the melting of 270,232,722 silver dollars. Production of the Morgan Dollar, with a slightly refined design, continued for part of 1921 until the adoption of a new design.
Various varities exist for many of the issues. Some are widely collected by many while others are left for the more sophisticated collector. Often a coin will appear as a "prooflike". This refers to the highly reflective, mirror, surface of the coin. These are the first strikes occuring at the mint for the various dates. Substantial premiums are often commanded. Proof coins were struck for all years, 1878-1904.
Minted from 1921 to 1935, the Peace Dollar was a commemorative peace coin issued without congressional sanction. It was minted under the terms of the Pittman Act which referred to the bullion but in no way affected the coin's design. Anthony De Francisci designed the dollar which was placed in circulation January 3, 1922. 1,006,473 coins were minted in its first year of production.
The obverse features the bust of Liberty and the reverse depicts an eagle with folded wings grasping an olive branch. An interesting note is that Francisci's wife, Teresa Cafarelli, posed as the model for Liberty. The original design of the 1921 was the high relief type which was found to be impractical resulting in a slightly modified design in 1922. Production was suspended in 1929 and resumed in 1934. The mints striking the Peace Dollar were Denver, Philadelphia, and San Francisco.