Origin of a Fabulous Hoard
To survive the Great Depression people learned to stretch every available resource. When clothing could no longer be handed down to another child, it was used for patches and quilts. Appliances and used pieces of machinery were saved in case some part could be used to fix another one. Children raised in this era faced an upbringing few youngsters experienced in this country before or since.
For one such youngster, the experience left an indelible mark on his psyche. In addition to being an unwilling participant in America’s worst economic crisis, he also suffered from diabetes, an illness that in the 1930s and ’40s was tantamount to a death sentence. Somehow the boy not only survived but became a physician. As he grew older, the fear of another financial catastrophe never left his mind. To avoid future calamity, he amassed an enormous collection of Morgan Silver Dollars.
The man passed on the lessons he learned in life to his family, and they, too, felt strongly about owning precious metal. When he passed away a few years ago, his family decided to honor his legacy by selling the coins and using the money earned from his foresight to purchase gold.
Sifting Through Silver
Once sold, a team of experts carefully sifted through the nearly 1,000 pounds of vintage silver coins. To their surprise and amazement, the coins were all from the New Orleans Mint—the only Southern mint to strike the Morgan Silver Dollar.
New Orleans struck Morgans from 1879 through 1904—and many were bagged and never circulated so that by the early 1960s, many dates were considered rare. The Treasury release brought many of these coins to light, providing collectors with Morgans that had previously been unavailable.