1878 Morgan Dollar

8 Tailfeathers (8TF)

Circulation Mintage: 750,000

Obverse Text: 1878 | LIBERTY | E PLURIBUS UNUM

Reverse Text: UNITED STATES OF AMERICA | ONE DOLLAR | IN GOD WE TRUST

Guidelines for Collecting:

The series begins with the 1878 8 Tail Feathers (curiously, often in print as one word: tailfeathers) dollar, and while it is the only year and mint of this variety, it is not a rarity. An ample supply from the first circulation strikes remained in Treasury vaults, so that today there is an adequate supply of Mint State coins. These coins are usually well struck, with excellent luster and deep frost. Shallow eagle’s breast detail is usually seen on the reverse.

Proofs are very rare. The exact mintage of these is not known. Expect Proofs with minimal cameo contrast. Demand is strong from collectors seeking an example for a type set to illustrate the first year of issue.

Availability in Circulated Grades:

The 1878 8 TF Morgan dollar can be found in grades from well-worn Fine or so up to and including AU. The date was released in quantity around the time of striking and the supply of circulated examples is large.

Availability in Mint State Grades:

The date was considered quite scarce prior to the mid-1950s when bag quantities were released from long-time storage in Treasury vaults, some of which went to Las Vegas casinos for use in slot machines and on gaming tables. All grades are available today from MS-60 up to the Gem category. Many collectors choose the MS-64 grade for this date as that grade level offers a nice combination of value and quality, what Dave Bowers has called the Optimal Collecting Grade (OCG) in some of the books he has written for Whitman Publishing, LLC.

Availability in Proof:

At least 150 to 200 or so Proofs of the date can be found today. Any Proof of the type that has solid cameo contrast and exceptional eye appeal should be considered a prize.