Item number: A2649

Year: AD 1898

Material: Silver (.900)

Size: 35.8 x 35.8 mm

Weight: 26.7300 g

Manufactured by: Philadelphia Mint II

Provenance: Da Chen Stamps and Coins Collection 2014

This is a one-dollar silver coin minted by the Philadelphia Mint and issued by the United States Department of the Treasury, known as the “Morgan Dollar” after its designer.

The obverse features a left-facing profile of Liberty wearing a Phrygian cap, a laurel wreath, and a headband inscribed with the word “LIBERTY”. The Phrygian cap and the “LIBERTY” headband symbolise the pursuit of freedom, while the laurel wreath has long represented honour and the ideals of a republican system. The model for the portrait was Anna Willess Williams, a teacher from Philadelphia, whose likeness departed from traditional Greco-Roman styles previously used on American coinage. Encircling the top is the Latin motto “E PLURIBUS UNUM”, meaning “Out of many, one”, one of the national mottos of the United States. At the bottom are thirteen six-pointed stars, commemorating the original thirteen states that formed the Union.

The reverse displays the Great Seal of the United States, featuring a bald eagle with wings outspread, its gaze turned to the right (the viewer’s left). In its talons, the eagle holds a bundle of arrows, symbolising military readiness, and an olive branch, representing peace. It bears seven tail feathers. The eagle is surrounded by a laurel wreath, again representing honour and republican values. Between the tips of the wings appears the motto “IN GOD WE TRUST”, which came into regular use on official emblems after the American Civil War and was formally adopted as the national motto in the 20th century, partly in response to atheistic communism. Around the top edge is the inscription “UNITED STATES OF AMERICA”, denoting the country’s official name, and at the bottom, “ONE DOLLAR”, indicating its face value.

The obverse and reverse rims are encircled with a denticled border, formed by inward-rounded rectangular notches. The edge of the coin is reeded. The designer of both sides was the British-born George Thomas Morgan, renowned for his coinage design and engraving, most notably the Morgan Dollar. In AD 1876, Morgan emigrated from Britain to the United States, where he was appointed Assistant Engraver by William Barber, the then-Chief Engraver of the United States Mint. In AD 1917, Morgan succeeded Barber as the seventh Chief Engraver of the United States Mint.

The minting of the Morgan Dollar reflects the political and economic negotiations among interest groups during the United States’ transition from a bimetallic standard to the gold standard in the late 19th century. In AD 1873, under the influence of eastern financial interests, Congress passed the Coinage Act, which abolished the policy of free silver coinage and thereby ended the right to bring silver to the mint for conversion into coinage. This effectively established a de facto gold standard intended to stabilise prices and promote trade. The resulting decline in silver prices harmed the interests of western silver miners and populations accustomed to using silver currency, prompting widespread protest. This backlash became known as the “Crime of ’73”. To appease competing interests, the Bland–Allison Act was passed in AD 1878, mandating the Treasury to purchase a fixed quantity of silver monthly and coin it into silver dollars, thereby initiating the production of the Morgan Dollar. In AD 1890, the Sherman Silver Purchase Act was enacted, significantly increasing the government’s silver purchases. However, it intensified tensions between the gold and silver standards and destabilised the financial markets. Concerns over currency inflation culminated in the Panic of AD 1893, after which all silver purchase legislation was repealed.

The Morgan Dollar ceased production in AD 1904, having exhausted the silver reserves accumulated under previous laws. In AD 1918, to support Britain financially during the First World War, the Pittman Act authorised the melting down of large quantities of Morgan Dollars for silver export. In AD 1921, under the same Act, the Morgan Dollar was briefly re-minted before being replaced later that year by the Peace Dollar. The 1921 Morgan Dollar, owing to its limited issuance, scarcity, and historical significance, is considered a prized item among collectors. Beginning in AD 2021, under the administration of President Donald Trump, authorisation was given to resume minting both the Morgan and Peace Dollars to commemorate the historical evolution of United States coinage.

物件編號: A2649

年代: 公元 1898 年

材質: 銀 (900‰)

尺寸: 35.8 x 35.8 mm

重量: 26.7300 g

製造地: 費城鑄幣廠(第二座)

來源: 大城郵幣社 2014

這是一枚由費城鑄幣廠鑄造，美國財政部發行的1美元銀幣，因其設計者而得名「摩根銀元」。

銀幣正面為自由女神左側肖像，頭戴弗里吉亞帽、桂冠以及書有「LIBERTY」的髮箍，弗里吉亞帽與「LIBERTY」髮箍皆代表對自由的追求，桂冠則長期以來被視為榮譽以及共和制度的象徵。肖像以費城的教師安娜·威利斯·威廉斯(Anna Willess Williams)為模特，使美元幣圖脫離了傳統的希臘風格。上方環列美國國家格言之一，拉丁文「E PLURIBUS UNUM」，意即「合眾為一」。下方環列十三顆六芒星，以紀念最初組成合眾國的北美十三州。

銀幣背面為美國國徽，白頭海鵰雙翼開展，目視右方(觀者左方)，雙爪抓著一束象徵武力的箭與象徵和平的橄欖枝，有七根尾羽。周圍則環繞象徵榮譽與共和制的桂冠。翼尖之間是英文銘文「IN GOD WE TRUST」，意即「我們信仰上帝」。該格言於南北戰爭後頻繁出現於官方象徵上，於公元20世紀中，因對抗無神論的共產主義而正式成為美國國家格言。上側環列「UNITED STATES OF AMERICA」，即國號「美利堅合眾國」，下側環列「ONE DOLLAR」，即面額1美元。

正背面幣緣均為環飾，有向內圓角矩狀齒，幣稜則為細齒。銀幣正背面幣圖的設計師為英裔喬治·湯瑪斯·摩根(George Thomas Morgan)，擅長幣圖設計與雕刻，其中最著名便是「摩根銀元」。公元1876年，摩根自英赴美，並被時任美國鑄幣局首席雕刻師威廉·巴伯(William Barber)聘為助理雕刻師。公元1917年，摩根接任首席，是為美國鑄幣局第七任首席雕刻師。

摩根銀元其鑄造背景反映公元19世紀末美國由金銀複本位制轉型至金本位制的過程中，各利益團體間的相互折衝。公元1873年，美國國會在東部資本集團的推動下，通過《鑄幣法案》，取消了自由鑄銀制度，使得白銀無法再自由送至鑄幣局換取銀幣，形成事實上的金本位，以穩定物價，促進商貿。此舉導致白銀價格大跌，西部銀礦主與銀幣慣用州民眾的利益受損，因而引發強烈反彈，史稱「1873年罪案」(Crime of ’73)。為平衡各方利益，於公元1878年通過《布蘭德–艾利森法案》(Bland–Allison Act)，要求財政部每月強制購買白銀並鑄造成銀元，由此開始了摩根銀元的鑄造。公元1890年更進一步通過《謝爾曼白銀採購法案》(Sherman Silver Purchase Act)，大幅提高政府購銀量，但引發金銀本位矛盾與金融市場動盪，最終，對增發貨幣的擔憂，導致公元1893年的經濟恐慌，所有購銀法案因而於同年廢止。

摩根銀元於公元1904年，用盡此前購銀囤積的白銀儲備而停止發行。公元1918年，為支援一戰中英國財政，由《皮特曼法案》(Pittman Act)授權熔毀大量摩根銀元以出口白銀，公元1921年，在同法案的授權下，摩根銀元短暫復鑄，同年即被和平銀元取代。公元1921年所復鑄之摩根銀元，因其時間短暫、鑄品稀少和所具的歷史意義，成為收藏者眼中的珍品。公元2021年起，時任總統唐納德·川普授權復鑄摩根銀元與和平銀元，以紀念美國貨幣的轉型。