1878 Morgan Silver Dollar Philadelphia

1878 Morgan Silver Dollar Philadelphia The 1878 Morgan Silver Dollar marks the inaugural year of this legendary series, following the passage of the Bland-Allison Act. Struck at the Philadelphia Mint (no mint mark), this first-year issue is highly sought after for its various die varieties, including the 8-tail feather and 7-tail feather designs. This specimen is composed of 90% silver ($0.77344$ oz ASW). As of April 12, 2026, the silver spot market has surged to approximately $75.76 per ounce, creating a high intrinsic value for all 90% silver coinage. Given the first-year status, these coins often carry a premium above their silver weight. This coin is presented in mid-grade circulated condition (VF/XF), showing honest wear on the eagle's breast and Liberty's cap. Please examine the photos carefully to identify the specific tail feather variety and to assess the remaining mint luster.