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The Morgan Dollar is a silver United States coin, minted from 1878 to 1904 and again for one more year in 1921.

George T. Morgan designed the obverse and reverse of the coin. Morgan's monogram appears near Lady Liberty's neck on the obverse.

In 1878 Congress passed the Bland-Allison Act which required the Treasury Department to purchase large amounts of silver, and to strike it as coins. For reasons of economy, the Treasury chose to strike the silver as dollars.

In 1918, the Pittman Act called for over 270 million coins to be melted for silver content. In 1921, the coinage of the Morgan Dollar resumed for that year and was replaced by the Peace Dollar commemorative that would become standard issue. Since 1921, many Morgan dollars have been melted to yield silver bullion after silver prices escalated beyond the the face value of the coins.

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