What is the history of the Morgan silver dollars?

Answer 1

I love the history of Morgan Dollar starting in 1878 with the Bland-Allison Act that required the Treasury purchase a grand total of 2-4 million dollars of silver every month.

By 1890 the government passed a new act called the Sherman Silver Purchase Act now the treasury had to purchase $4,500,000 ounces of silver every month.

A lot of that silver found a home sitting in the treasury vaults instead of being minted. So in 1898 congress approved yet another bill that required that silver be minted. By 1904 the storage of silver had run out and so did the time for the Morgan Dollar.

But wait in 1918 the Pittman Act was passed this authorized the melting of up to 350,000,000 silver dollars. One provision in the act stated the replacement of all silver dollars melted thus we have one more year in 1921 that the Morgan Dollar was minted. That same year the Peace dollar was minted.