1892-S Morgan Silver Dollar (1892-S Morgan S$1) PCGS AU50. Some bright mint luster remains within the devices of this conditionally rare Morgan dollar. Evidence of circulation is seen with the marks on Liberty’s cheek, the light wear on the hair above the ear, and the eagle’s breast and leg feathers. The strike is sharp on both sides of the coin. While this coin is obtainable in AU50, it is prohibitively rare in the higher uncirculated grades. It shows a close-up head of Liberty in profile facing left. She wears a headband inscribed LIBERTY. In her hair are cotton, corn, wheat, and tobacco. She wears a modified Phrygian cap and is surrounded with the motto E PLURIBUS UNUM, thirteen stars (seven left and six right), and the date. The reverse shows an eagle with wings raised looking left. In its talons are arrows and olive branch, symbols of preparedness and peace. A wreath is below, and the motto IN GOD WE TRUST is above. Except for the eagle’s wing tips, UNITED STATES OF AMERICA and ONE DOLLAR, separated by stars, circumscribe the design. The S mintmark is below the knot of the bow between the D and O.
In the late 1870’s a group of silver mine owners convinced Senator William Allison (Republican from Iowa) and Representative Richard Bland (Democrat from Missouri) to support a proposal for a new silver dollar. After much negotiation and intense lobbying by the silver industry, Bland and Allison introduced a bill to resume silver coinage. Despite the veto of President Rutherford B. Hayes, the Bland-Allison Act became law in February, 1878. It required that the Treasury buy a minimum of two million dollars a month of domestic silver to be coined into dollars. The act also gave the silver dollar legal tender status.
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