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Message:: [QUOTE="bzcollektor, post: 59413, member: 3241"]A little history as to WHY the Gov`t minted Morgans by the hundreds of millions. The Bland-Allison Act of 1878 (pushed through Congress by western mining interests)required the Gov`t to buy and coin into silver dollars between $2,000,000 and $4,000,000 worth of silver PER MONTH . Most of these never circulated. They were stored by the Gov`t for the most part, and the Treasury issued Silver Certificatesagainst the silver dollars stored by the gov`t.The Sherman Act of 1890 repealed the Bland-Allison Act, but provided for coining2,000,000 oz per month, until July 1891, and only as much to cover the redemption of Treasury (Coin Notes) thereafter. Few silver dollars were minted in the early 1890`s,giving us such rarities as the 1893-S. Another Act of Congress provided for the coinage of the remaining silver purchased under the Sherman Act. When that supply ran out in 1904, minting of silver dollars ceased. The Pittman act of 1918 providedfor the melting of up to 350,000,000 of the over 400,000,000 silver dollars the US gov`t had in storage. 270,000,000 were acually melted. This was to help the British cover war spending in WW1. The Pittman act also called for the re-minting of the melted silver dollars, which commenced in 1921, Hence the 1921 Morgan, and the Peace dollars.[/QUOTE]