Private Mint, Morgan Silver Round - 1 Troy oz, .999 Pure, Bullion.

Morgan Coins vs. Rounds Coins and rounds can look similar enough that people sometimes mistake one for the other. However, there are some major differences. The most obvious difference between the official Morgan coin and the rounds is the size and the engraved text. The rounds are larger in size, because they are 1 troy oz in weight. Silver dollars weigh roughly 20% less, because they were not made with a full troy ounce of silver content. 

Rounds are marked with weight and purity, while the Morgan silver dollars are not. Coins are exclusively made by a government mint. In the United States, only the US Mint is permitted to strike coins. Coins can have a face value, meaning they are legal tender. They often feature the mark of the production US Mint. And they almost always carry the date of issue. 

Rounds are struck at a private mints. The may have the similar obverse and reverse design as a coin, but they will not have a face value. Rounds are not legal tender backed by the United States government.  In general, coins tend to have a higher premium than rounds. They are also far more popular with collectors while rounds appeal more to investors looking to get as much precious metal for their flat currency as possible.  

History:

William Barber, Chief Engraver at the US Mint in 1876, went searching for an assistant engraver to help in his efforts to redesign the US coinage. George Morgan, whe was 30 at the time, came highly recommended and began work on a six-month trial basis. Morgan made the bold decision to move away from Greek style figures and use an American woman to symbolize liberty on the coins obverse. 

A friend recommended Anna Willess Williams from Philadelphia as the model. Morgan had 5 sittings with Williams before his design was complete. He declared her proile to be the most perfect he had seen.

Today's current production:

Morgan silver rounds are an homage to the classic design of the classic one dollar silver coin. Though struck in numerous private mints, the exact design tends to be somewhate standardized with only minor variations among coins of different manufacturers. The most common size is the one troy ounce silver round with 99.9% purity.  

On the obverse of Morgan rounds is the iconic profile of Anna Williams representing Liberty.  The reverse features a bald eagle with spread wings, clutching a bundle of arrows in one set of talons and an olive branch in the other.  The inscriptions "Silver Bullion Round" and "One Troy Ounce .999 Fine Silver" Specifications The one troy ounce rounds weigh 31.1035 grams. The rounds measure 39 millimeters in diameter and 2.8 millimeters in thickness. The edges of the round are usually reeded, as opposed to the plain original. All manufacturers make the Morgan silver rounds with 99.9% purity and reeded edges. Who Makes Them Various private mints across the United States make Morgan silver rounds.