US Coins

Monday Morning Brief for March 30, 2020: Your support essential

The new legislative effort to authorize production of 2021 Morgan and Peace dollars will succeed only if collectors persuade members of Congress to support the measure.

Original images courtesy of Heritage Auctions.

The new legislative effort to authorize production of 2021 Morgan and Peace dollars to celebrate the end of the one series and the beginning of a new series has taken an interesting turn.

The original approach, in the form of legislation seeking 2021 commemorative silver dollars, was abandoned after a second commemorative coin program was authorized for that year. Congress limits commemorative coin programs to no more than two annually.

The Mint’s proposed alternative, a gold version of the Morgan dollar in 2021, has very little support in the collector community because the cost of such a coin would be prohibitive for many. It is not a proposal that Coin World could support.

The new measure before Congress is a great alternative to the commemorative coin approach. The legislation seeks silver bullion coins bearing the designs of the Morgan and Peace dollars. Such a proposal will be widely embraced in the collector community. However, it will also take concerted pressure on Congress to make it happen.

Congress obviously is focused on the current pandemic and resultant economic upheaval, as it should be; the current situation truly is life or death for many. However, we can hope that Congress can also focus on more routine legislation. This is where you come in.

If you want 2021 Morgan and Peace silver dollars, write your representative and senators and ask that they sign on as co-sponsors of H.R. 6192. The commemorative legislative picked up few co-sponsors and never advanced in Congress. The only way the new bill will ever pass is for Congress to receive a lot of letters from collectors calling for support for the measure.

 

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