|Actual Metal Weight:||10 ozt|
Are you looking for low-premium pure silver? The 10 oz Morgan Design silver bar contains 10 troy ounces of .999 fine silver, and is made right here in the United States! Gainesville Coins only uses ISO 9001-certified mints located in the US for its generic silver, to guarantee purity and quality. Our Morgan Design 10 oz silver bar bears the image of one of America's most popular coins: the Morgan silver dollar.
History of the Morgan Dollar
Designed by engraver George T. Morgan in 1877, this design was originally slated to be a new half dollar. The silver dollar had been abolished in 1873, but when the Bland-Allison Act (passed by Congress over President Rutherford B. Hayes' veto) mandated its return, the US Mint suddenly needed a new dollar design. Morgan's design was chosen over that of Chief Engraver William Barber's, and production began in 1878.
Seen as unneeded and inflationary when introduced, the Morgan dollar became one of the favorite subjects of numismatists by the mid-20th century. Even though over 600 million Morgan dollars were originally minted, over 270 million were melted down and sold to Britain in WWI, and another 50 million melted down in 1942 for their silver content and used in the war effort during WWII.
After the war, more numismatists began paying attention to the Morgan dollar. However, it wasn’t until the early 1960s that the Morgan dollar exploded into the public consciousness for the first time in a century.
Coin collectors found out that a literal treasure trove of rare Morgan dollars were sitting in Treasury Dept. vaults. The government ceased giving out Morgan dollars on demand in 1964. Instead of handing out rare coins, some of which were worth thousands of dollars, to the public at face value, the government auctioned off the last 3 million silver dollars left in Treasury vaults. Known as the GSA Hoard (The Government Services Administration - GSA - conducted the auction), the vast majority of these coins were rare Carson City Morgans.
In later years, the discovery of rare Morgan dollars in famous hoards such as the Redstone Hoard and the Nevada Casino Hoard kept the coin (and its desirability) in the news.
The Thrill Lives On In Our 10 oz Morgan Silver Bar
Our Morgan Design 10 oz silver bar recaptures the majesty of the original coin, with the obverse of the Morgan dollar reproduced on the front. Below the image is a large number 10, overstamped with “Ten Troy Ounces Fine Silver 999+.” A badge proclaiming “Made in USA” runs across the bottom. The back of the bar bears a diamond pattern. The raised rim on this bar helps reduce the chance of any scratches on the surface. Since these bars are made to strict international ISO 9001 standards, they are eligible for inclusion in self-directed IRA accounts.
These 10 oz Morgan design silver bars are far easier to stack than 1 oz bars, yet have higher liquidity than 100 oz bars. Their size gives a far better sense of the hard money value they add to your portfolio when you heft them in your hand. We also carry Morgan Design .999 fine silver bars in 5 troy ounce and 1 troy ounce sizes, as well as our best-selling 1 oz silver round reproducing the original Morgan dollar design in .999 silver. We have the pure silver you want, in sizes to meet any budget at Gainesville Coins!
Did You Know?
- The Morgan Dollar is the most widely-traded numismatic coin in the world? No wonder bullion bars bearing the Morgan image are so popular!
- The 28 years of Morgan dollar production saw mintages ten times that of the previous Seated Liberty dollar, which was minted for 33 years (656.9 million to nearly 6.5 million).
- It is thought that more than half the 656.98 million Morgan dollars ever made were melted down by the government (270 million in 1918 alone) and speculators melting them down in the 1960s for their metal content.