1878 7TF $1 Reverse of 1879 PR

Key to Collecting: The two different basic reverse styles with 7 Tail Feathers, Reverse of 1878 (PAF) and Reverse of 1879 (SAF, as here), were not widely known. Nor are there any offcial mintage figures for either. Significant interest did not develop until the 1980’s. Although not all Morgan dollar collectors are aware of the varieties, both are eminently worth owning. Even today, the price of the 1878 with Reverse of 1879, although considerably higher than that of the earlier style, does not reflect the true differential in rarity.

Surface Quality: Usually fairly well struck, but needle-sharp examples are elusive. Patience may be required to find a “keeper.” Certification-service labels do not mention the quality of strike, and, accordingly, most buyers are not aware that there can be a difference! The breast of the eagle is rounded, characteristic of the Reverse of 1879. Excellent luster is seen on most, but there are exceptions, and cherrypicking is advised.

Prooflike Coins: Some are from prooflike dies, sometimes on one side only, and show good contrast between the fields and motifs, a cameo appearance.

Mintage and Distribution: Van Allen–Mallis note that 50 Proof Morgan dollars were delivered on November 8, 1878, and these would have been 1878, 7 Tail Feathers, with Reverse of 1879, assuming that the latest die had been used. However, the Mint often used old reverse dies for Proofs if they were serviceable. It is estimated that fewer than two dozen Proofs exist today, and this may be an optimistic figure. All are the VAM 215 variety. Concerning circulation strikes, the estimate is 1,500,000, assuming that most of those minted from June 28, 1878, to December 31, 1878, were with this reverse, but that some old reverses were still being employed.

Mintage (net): Unknown. VAM suggests 50, Michael Fuljenz suggests 25.4 Breen comment: “300 struck between June 28 and 30, mostly melted.”5

Key to Collecting: The strike is decent, and the coins have a degree of cameo contrast. This is the Holy Grail among early Proofs.

There are multiple varieties listed by VAM.