1878 was the first year that the legendary Morgan Dollar was minted. Among the 2,212,000 1878 Morgan Dollars that were minted at the legendary Carson City Mint, only abut 3,600 of them are graded in Mint State 65. That`s only .16% of the total population that are in such great condition. Only 617 coins are graded higher, most of which are MS66 along with a handful that are graded MS67. The obverse depicts Lady Liberty wearing a Phrygian cap with "Liberty" written on the headband. An open winged bald eagle dominates the reverse. Both the obverse and reverse designs were created by George T. Morgan.