Friday, September 30, 2011

Morgan 1921 • American Photographer Mark Fisher • Silver Dollar Image

Silver Dollar Image

Mark Fisher New York Photographer 




The Morgan Dollar Coin Originally




Had A Run Of 26 Years




Ending In 1904 





The Silver Reserves Were Supposedly Depleted.









The Pittman Act was a United States federal law 





 enacted on April 23, 1918. 





The act authorized the conversion




 of not exceeding 350,000,000 standard silver dollars




 into bullion and its sale, or use for subsidiary silver coinage,





 and directed purchase of domestic silver for recoinage






 of a like number of dollars.



 Under the Act, 270,232,722 standard silver dollars






 were converted into bullion (259,121,554 for sale to Great Britain at $1.00 per fine ounce,




 plus mint charges, and 11,111,168 for subsidiary silver coinage),




 the equivalent of about 209,000,000 fine ounces of silver. 



Between 1920 and 1933, under the Act, 






the same quantity of silver was purchased






 from the output of American mines,






 at a fixed price of $1 per ounce, from which 






270,232,722 standard silver dollars were recoined. 






The fixed price of $1 per ounce was above the market rate 






and acted as a federal subsidy to the silver mining industry.






 passed in 1918, authorized the melting and recoining of millions of silver dollars. 



Under the act, Morgan dollars resumed mintage for one year in 1921.




 The design was replaced by the Peace dollar in the same year.



 1921 Morgan Does Not Command The Same Prices





Of The Original Run Coinage Of The Morgan





The Population Of Higher Quality 




Strikes Appear In A Larger Volume.



AMERICAN PHOTOGRAPHER MARK FISHER






Equipment




Real Camera - Pentax 67




Real Film





Kodak






Image © Mark Fisher NYC1





(All Rights Reserved)





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