When those silver reserves were depleted in 1904, the Mint ceased to strike the Morgan dollar. The Pittman Act, passed in 1918, authorized the melting and recoining of millions of silver dollars. Pursuant to the act, Morgan dollars resumed mintage for one year in 1921. The design was replaced by the Peace dollar later the same year.
In the early 1960s, a large quantity of uncirculated Morgan dollars was found to be available from Treasury vaults, including issues once thought rare. Individuals began purchasing large quantities of the pieces at face value, and eventually the Treasury ceased exchanging silver certificates for silver coin. Beginning in the 1970s, the Treasury conducted a sale of silver dollars minted at the Carson City Mint through the General Services Administration. In 2006, Morgan's reverse design was used on a silver dollar issued to commemorate the old San Francisco Mint building. World-renowned expert numismatist, enthusiast, author and dealer in authentic ancient Greek, ancient Roman, ancient Byzantine, world coins & more.
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