The Kennebunkport Collection™🎁
Passed in 1873, the Bland–Allison Act required the Treasury to purchase between $2 and $4 million of silver each month. In 1890, the Bland–Allison Act was repealed by the Sherman Silver Purchase Act, which required the Treasury to purchase 4,500,000 troy ounces of silver each month, but only required silver dollar production for one year.
In 1898, Congress approved a bill that required all remaining bullion to be coined into silver dollars. 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 and the Morgan dollars resumed mintage for one year in 1921.
Collecting all five of these "low ball" coins has been fun. The Denver Mint only produced Morgan Dollars for one-year, in 1921, and finding a low-ball coin for that year was a challenge!