Silver Dollars & Trade Dollars of the United States - A Complete Encyclopedia
Q. David Bowers
1878 7 TF Morgan: Market Values
1878 7 TF Morgan: Summary of Characteristics
Business Strikes:
Enabling legislation: As earlier, plus Act of February 28, 1878
Designer: George T. Morgan
Weight and composition: 412.5 grains; .900 silver, .100 copper
Meltdown (silver value) in year minted: $0.89222 Dies prepared: Included in information given under 1878 8 tail feathers.
SECOND REVERSE, PARALLEL ARROW FEATHER:
Business strike mintage. Second Reverse, P AF: 7,200,000
Estimated quantity melted. Second Reverse, P AF: Unknown
Approximate population MS-65 or better: Second Reverse, PAF: 1,000 to 2,000 (URS-12)
Approximate population MS-64. Second Reverse, PAF: 15,000 to 30,000 (URS-15)
Approximate population MS-63. Second Reverse, PAF: 45,000 to 90,000 (URS-17)
Approximate population MS-60 to 62. Second Reverse, PAF: 50,000 to 100,000 (URS-17)
Approximate population VF-20 to AU-58. Second Reverse, PAF: 250,000 to 500,000 (URS-20)
Availability of prooflike coins. Second Reverse, PAF: Prooflike coins are rare. Many prooflike coins are prooflike on one side only.
Characteristics of striking. Second Reverse, P AF: Usually average, although sharp pieces exist.
Known hoards of Mint State coins. Second Reverse, PAF: Few if any significant hoards remain today.
Specimens were paid out by the Treasury over a long period of years culminating in 1962-1964.
THIRD REVERSE,
SLANTING ARROW FEATHER:
Business strike mintage. Third Reverse, SAF: 2,000,000
Estimated quantity melted. Third Reverse, SAF: Unknown
Approximate population MS-65 or better. Third Reverse, SAF: 400 to 800 (URS-10)
Approximate population MS-64. Third Reverse, SAF: 6,000 to 12,000 (URS-14)
Approximate population MS-63. Third Reverse, SAF: 12,500 to 25,000 (URS-15)
Approximate population MS-60 to 62. Third Reverse, SAF: 20,000 to 40,000 (URS-16)
Approximate population VF-20 to AU-58. Third Reverse, SAF: 40,000 to 80,000 (URS-17) Availability of prooflike coins. Third Reverse, SAF: Scarce prooflike. When seen, the contrast is usually poor.
Characteristics of striking. Third Reverse, SAF: Usually seen weak to average.
Known hoards of Mint State coins. Third Reverse,
SAF: Few if any significant hoards remain today. Specimens were paid out by the Treasury over a long period of years through 1962-1964.
Proofs:
Dies prepared: Obverse: at least 2; Reverse: at least 2-one each for PAF and SAF, as below.
SECOND REVERSE, REV. OF 1878, PARALLEL ARROW FEATHER:
Proof mintage, Second Reverse, Reverse of 1878, PAF: 250 to 300 estimated (many unsold pieces were melted)
Approximate population Proof-65 or better: 22+/- (URS-6)
Approximate population Proof-64: 32+/- (URS-6)
Approximate population Proof-63: 50+/- (URS-7)
Approximate population Proof-60 to 62: 50+/- (URS-7)
THIRD REVERSE, REV. OF 1879,
SLANTING ARROW FEATHER:
Proof mintage, Third Reverse, Reverse of 1879, SAF: 50. 34 sold; balance placed into circulation.
Approximate population Proof-65 or better: (URS-O)
Approximate population Proof-64: 0 (URS-O)
Approximate population Proof-63: 10+/- (URS-5)
Approximate population Proof-60 to 62: 10+/- (URS-5)
Commentary
The 1878 7 TF exists in two main varieties. The style with slanting top arrow feather (Reverse of 1879) is the scarcer of the two, and in Proof state is the rarest before 1921. The first publication of the Second and Third Reverse was apparently by George W. Rice in the June 1898 Numismatist.