1878-S $1 Morgan Silver Dollar PCGS MS64

This sparkling piece is from a historic issue: the first Morgan dollar from the San Francisco Mint. In addition to being quite attractive, it is also affordable and would be a great addition to your collection.

The huge mintage of 9,774,00 was given to us via the passage of the Bland-Allison Act of February 1878, which required the Treasury Department to purchase between $2 million and $4 million worth of silver bullion every month. All of that silver was to be made into silver dollars. David Bowers writes, “The 1878-S is a popular and plentiful early San Francisco Mint Morgan dollar.” PCGS has graded 19,623 as MS64 with 7,274 finer. Collectors Universe prices this issue at $250.00.

Construction of the San Francisco Mint during 1876, where this historic piece was struck in 1878. Photo: Wikipedia.

The dies and collars for standard (Morgan) silver dollars arrived at the San Francisco Mint on the evening of April 16, 1878. Bowers describes a fascinating moment in numismatic history:

The initial striking of Morgan dollars took place at 3:30 in the afternoon of April 17. In attendance were representatives of the press, former governor F.F. Low, mint officers, and others. The first specimen was presented to coiner Cicott, who acted as master of ceremonies for the event. After nearly 1,000 coins were struck, one of the dies broke, the press was stopped, and further coinage was suspended until the following day.