1900 Morgan $1 (1900 Morgan Dollar) NGC PF55. This slightly circulated, proof 1900 Morgan Dollar shows lightly toned devices on darker fields. The coin is designated PF55 because there is a touch of wear on the highest points and light abrasion marks, in keeping with the grade. The strike is above average, as expected for a proof coin with full details on the eagles breast feathers. The scratch marks on the reverse are on the holder not the coin.

George T. Morgan designed the Morgan Silver Dollar, which was issued every year from 1878 to 1904 and then again in 1921. Hundreds of millions were saved in bags of 1,000 each in bank vaults because the federal government created artificial demand for them to satisfy the Western silver interests. Some were melted in the 1918, but large quantities remained in bank vaults and were later bought by investors and collectors. Because many millions of Morgan Silver Dollars exist today in the hands of the public, the Morgan Silver Dollar has become the most widely collected coin of its era.

Standards of beauty and public taste vary with the times. When the new dollar was issued, the complaint was that Liberty was too heavy. For his model, Morgan used Anna Williams, a school teacher from Philadelphia. Charles Barber also submitted a design. His design showed Liberty as also being too heavy, but she was also dumpy looking and had a fat neck. Morgans reverse showed an eagle that looked unnatural. Barbers seemed more real. In any case, it was Morgans designs that were selected for the dollar. It is an irony that the first Morgan dollar was presented to Rutherford B. Hayes, the president who had vetoed the authorizing act.

Occasionally a scarce proof coin makes its way into circulation and is treated as ordinary currency. That was the case with this proof coin. It had an original mintage of 912, which makes it a desirable coin in all conditions.