Here we go again. Did the Morgan dollar work better in circulation than the new Presidential dollar coin likely will?
The Morgan dollar was not a successful coin as we would define it, but it probably was more successful than the current crop of circulating dollars can or will be.
Morgan dollar coins were struck basically to absorb excess supplies of mined silver. This indirect mining subsidy did not prevent the eventual market decline in silver?s price, but it can be argued that it slowed it down. Morgans basically became backing for Silver Certificates with a little extra use as coins in the rural West and South.
Is it true that some early U.S. coins were made from powder kegs?
According to contemporary reports, the Fugio cents were reportedly made from copper from the bands that bound the powder kegs sent over from France. Copper was in extremely short supply and the Mint was forced to purchase copper wherever they found it.
Is there any truth to the story that the eagle on our first dollars came from a piece of furniture?
It?s true. The eagle was copied from the design of a Hepplewhite secretary of the late 1700s from Salem, Mass.
Were all of our silver coins reeded?
There were five exceptions. The 3-cent silver, 5-cent silver (1942-1945) and 20-cent coins all had a plain edge. The early silver dollars and half dollars had a lettered edge. These latter coins frequently are overlooked.
Which coin has the record for the number of mintmark positions?
The half dollar is on top of the list. The 1838 mintmark was on the obverse. In 1840 it was moved to the reverse. It went back to the obverse in 1916, to the reverse in 1917, and returned to the obverse in 1968.
I thought all copies of coins were supposed to be marked? I?ve seen several without the proper marking.
Congress passed Public Law 93-167 on Nov. 29, 1973, which requires marking of imitations with COPY. It was signed the same day. The regulations to implement enforcement were not published until July 19, 1974. The final regulations were published March 10, 1975, when they went into effect. Until then, marking was not required, although some manufacturers did mark pieces with COPY or an ?R? for reproduction. The big loophole in the law was that it was not retroactive so copies made previously were not covered.