Collectors Guide to Morgan Silver Dollars - Littleton Coin Company

What became of the partners?Despite the immense yield of the ComstockLode, none of the original partners got rich– they all sold out too soon!Patrick McLaughlin sold his share for$3,500 and soon was broke. He died a fewyears later while wandering from place toplace, working at odd jobs.Henry Comstock, who consideredhimself a shrewd bargainer, sold his portionof the claim for $11,500. This is a betterprice than McLaughlin received, but ifComstock had waited until the main silvervein was reached, his interests would havebeen worth $80 million. Comstockcommitted suicide while prospecting inMontana in 1870.Peter O’Riley held his share until hewas offered $50,000, but he began dealingin mining stocks and lost everything. Underthe influence of “spirits,” O’Riley started todig a tunnel into a nearby peak, believinghe was on the trail of a richer strike thanthe Comstock. The spirits drove him crazy withAs shafts were dug into thehillside, tracks were laid for themining cars. Although therewere riches to be had, miningwas no easy job. The hourswere long, the work dirty,and the conditions harsh.visions of gold and silver caverns. He spent his last days in a California asylum.The Comstock Lode and other mines caused Nevada’s population togrow ten-fold by 1880. Silver deposits played a very important role in thestate’s, as well as the nation’s, history. Prior to its discovery, silver wasused sparingly for coinage, but afterward a flood of silver coins and dollarswas struck. In fact, this abundance of silver and the fabulous ComstockLode helped give birth to the Morgan silver dollar!A photo from the KeystoneView Company of a typicalmining camp from theComstock Lode era. Manymining camps grew intogood-sized towns that werelater deserted when theLode ran dry.5