After the Congressional announcement, the Treasury inventoried what was left of its silver dollar hoard and found 3,000 bags, roughly three million coins, including many with the more desirable Carson City mint mark. These Carson City coins were packaged in hard plastic holders and offered up for sale through a mail-in bid system by the General Services Administration (or GSA).
GSA Morgan Silver Dollars were offered in the following dates: 1878-85 and 1890-91. Each coin has a fineness of .900, yielding .77344 troy ounces of pure silver per coin, and measures 38.1mm in diameter. The coins take their name from their designer, the British engraver George T. Morgan. Morgan recruited a Philadelphia schoolteacher named Anna Willess Williams to pose as Lady Liberty for the new design, and it is her portrait that occupies the coins’ obverse. The reverse, or back, of the coins displays a heraldic eagle holding the traditional American symbols denoting strength at peace and in war, a clutch of arrows and an olive branch, in its talons.