Morgan Silver DollarsOakland Silver & Gold buys, sells and trades United States Morgan Silver Dollars, along with all other commonly traded forms of physical silver or gold bullion coins.
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The dollar was authorized by the Bland- Allison Act. Following the passage of the 1873 act, mining interests lobbied to restore free silver, which would require the Mint to accept all silver presented to it and return it, struck into coin. Instead, the Bland- Allison Act was passed, which required the Treasury to purchase between two and four million dollars worth of silver at market value to be coined into dollars 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 In 1890, the Bland- Allison Act was repealed by the Sherman Silver Purchase Act, which required the Treasury to purchase 4,500,000 troy ounces (140,000 kg) of silver each month, but only required further silver dollar production for one year. This act, in turn, was repealed in 1893.
In 1898, Congress approved a bill that required all remaining bullion purchased under the Sherman Silver Purchase Act to be coined into silver dollars. When in 1904, those silver reserves were depleted, 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.
Located in the U.S. state of California, Oakland is a major West Coast port city and the busiest port for San Francisco Bay and all of Northern California. It is the third largest city in the San Francisco Bay Area, the eighth-largest city in the state, and the 47th-largest city in the U.S. with a population of 390,724. Incorporated in 1852, Oakland is the county seat of Alameda County. It serves as a major transportation hub and trade center for the entire region and is also the principal city of the Bay Area Region known as the East Bay. The city is situated directly across the bay six miles east from San Francisco.
Alameda County is a county in the U.S. state of California. It occupies most of the East Bay region of the San Francisco Bay Area. As of the 2010 census it had a population of 1,510,271, making it the 7th most populous county in the state. The county's major cities include Oakland, which is its seat, Fremont, Berkeley and Hayward. Other cities include Albany, Emeryville, San Leandro and Livermore.
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