In the early 1960s, a large quantity of uncirculated Morgan dollars in their original bags were discovered in the Treasury vaults, including issues once thought rare.

In 2006, Morgan's reverse design was used on a silver dollar issued to commemorate the old San Francisco Mint building.

The US Mint began striking Morgan Dollars again in 2021, initially as a commemorative to celebrate the 100th anniversary of the conclusion of the design's final usage, then as an annual release starting in 2023.

In 1873, Congress enacted the Fourth Coinage Act,[1] which effectively ended the bimetallic standard in the United States by demonetizing silver bullion.

[2] Prior to enactment of the Coinage Act, silver could be brought to the mints and coined into legal tender for a small fee.

"[8] In response to Linderman's request, Fremantle wrote "My inquiries as to an Assistant Engraver lead me very strongly to recommend for the post Mr. George Morgan, age 30, who has made himself a considerable name, but for whom there is not much opening at present in this country.

[9] In 1876, Morgan enrolled as a student at the Pennsylvania Academy of the Fine Arts to prepare to create a new Liberty head design.

[10] Morgan's friend, artist Thomas Eakins, suggested he use Anna Willess Williams of Philadelphia as a model.

Linderman also ordered Pollock to "instruct Mr. Barber to prepare a reverse die for a dollar with a representation of an eagle as well as the inscriptions required by law.

"[11] Linderman evidently preferred the designs of Morgan over those of the Chief Engraver; he wrote Pollock on February 21, 1878, "I have now to state for your information, that it is my intention, in the event of the silver bill now pending in Congress, becoming law, to request the approval by the Secretary of the Treasury, of the dies prepared by Mr.

[13] Linderman desired to involve the western mints of San Francisco and Carson City in production in order to help reach the monthly quota necessary under the Bland–Allison Act.

[19] The mint marks appearing on the coins are none, representing Philadelphia, "CC" for Carson City, "S" for San Francisco, "O" for New Orleans and "D" for Denver.

[25] Supporters of the act believed that an increase in the amount of silver purchased would result in inflation, helping to relieve the nation's farmers.

[26] The act also received support from mining interests because such large purchases would cause the price of silver to rise and increase their profits.

[24] Beginning early in 1893, a number of industrial firms, including the Philadelphia and Reading Railroad and the National Cordage Company went bankrupt.

[28] In June of that year, President Grover Cleveland, who believed that the Panic was caused by the inflation generated by the Sherman Silver Purchase Act, called a special session of Congress in order to repeal it.

[29] The German government began a propaganda campaign during World War I to discredit the United Kingdom's currency in India.

[29] In response, United States Democratic senator Key Pittman of Nevada introduced legislation in 1918 that was intended to offer financial relief to the British government.

[36][37] This incident triggered huge interest, and between November 1962 and March 1964, millions of Morgan and Peace dollars were sold to the general public.

[36] The U.S. Treasury discovered previously unknown mint bags in its vaults containing slightly more than 2.8 million Carson City silver dollars.

[36] On May 12, 1969, the Joint Commission on Coinage held a meeting in order to determine the best way to sell the Carson City-minted dollars.

[38] Legislation was passed on December 31, 1970, directing the Treasury to transfer the silver dollars to the Administrator of General Services who was given the responsibility for marketing and selling the coins.

[38] Advertising consisted of posters and brochures distributed to post offices, banks and various financial institutions, as well as television documentaries.

[40] Authorization came at the behest of several hobby publications, who enlisted readers to contact their local congressmen and persuade them to pass necessary legislation.

On December 18, 2020, the United States Senate unanimously approved the bill, and it was signed into law by President Donald Trump on January 5, 2021.

The Citizens Coinage Advisory Committee unanimously approved the design on January 19, 2021, with recommendations which were sent to the Secretary of the Treasury Steven Mnuchin, one day before the end of the Trump administration.

High demand of these coins led to controversy over U.S. Mint ordering procedures and resulted in delays from the originally intended release dates.

Two-thirds of the Philadelphia-minted dollars contained "privy marks" for the now defunct Carson City (CC) and New Orleans (O) mints.

The US Mint originally decided to continue the Morgan and Peace Dollar program for 2022 and beyond[47] minted in San Francisco (S) with a proof finish, but on March 14, 2022, announced that the planned 2022 releases had been scrapped due to "supply chain issues, production capacity and shipping logistics", and the rising price of silver, with plans to resume the program in 2023.