Although mintage of the 1904 Morgan silver dollar was fairly small by Philadelphia Mint standards, this early 20th century "silver cartwheel" still exists in enough quantity that it is moderately priced for the Morgan series. Struck in 90% fine silver, the 1904 silver dollar is a historical remembrance of the year that Cadillacs and Pierce Arrows joined the selection of early automobiles, and when the first section of the New York subway system was opened.