The Morgan silver dollar was introduced in response to the Coinage Act of 1873, which required the United States Mint to produce a new silver dollar that would be lighter and more convenient to carry than the previous Trade Dollar. The Morgan silver dollar met this requirement, weighing in at 26.73 grams (0.85 troy ounces) and measuring 38.1 millimeters (1.5 inches) in diameter.
Morgan silver dollars were produced at three mints: the Philadelphia Mint, the Carson City Mint, and the New Orleans Mint. The Philadelphia Mint produced the vast majority of Morgan silver dollars, with the Carson City Mint and the New Orleans Mint producing smaller numbers.
Morgan silver dollars were popular with the public and quickly became one of the most widely circulated coins in the United States. They were used for a variety of purposes, including everyday transactions, investment, and jewelry making. Morgan silver dollars were also often given as gifts and were considered to be a good luck charm.
The production of Morgan silver dollars was suspended in 1904 due to a combination of factors, including the rising price of silver and the introduction of the Barber dime, quarter, and half dollar. The Morgan silver dollar was briefly revived in 1921, when the United States Mint produced a small number of coins to commemorate the centennial of Missouri's statehood.
Today, Morgan silver dollars are still highly valued by collectors and numismatists. They are considered to be some of the most beautiful and well-designed coins ever produced by the United States Mint. Morgan silver dollars are also popular with investors, as they are seen as a safe and stable investment.