One of the most interesting things to note about coins that have been made in the past is how when they first come out most were largely unpopular for one or more reasons. However, as time went on some of these coins became increasingly popular and even rare, coveted by the most avid of collectors. This is especially true of the 1895 Morgan Dollar, known by some as the “King of Morgan Dollars” due to how it is one of the rarest and valuable of all of the Morgan Dollar series. Some of these rare specimens have been known to sell for more than $120,000 US.
Contrary to popular belief concerning the name, the coin entitled the “Morgan Dollar” has a picture of Lady Liberty on it. Many individuals openly objected and insulted the coin when it was first released with some individuals even describing the eagle as a “buzzard” with a scrawny appearance. Due to this, in some instances it was also called the “Buzzard Dollar”. Yet despite this, the Morgan Dollar rose in popularity to become the most famous and popular coin used in the whole of U.S. coinage history.
However, the most notable fact concerning the 1895 Morgan Dollars is how over 12,000 of them have reportedly disappeared off the face of the earth. There are many myths concerning this which state that it was only an accounting error and the coins were never minted, while others state the coins were either stolen or lost at sea. Regardless of what the truth is, the Morgan Dollar has become a popular and very sought after coin which is worth a great deal, especially to coin collectors. It was in 1975 that the Morgan Dollar finally received due note when 400,000 Morgans were found in a basement.