All the changes happened on the reverse of the coin that was minted in Philadelphia. What adds to the confusion is that some coin agencies use half grades or add + to distinguish between coins that are in oanda review mint condition. For example, the coin graded 65+ is obviously in better condition than 65. In 1873, the Coinage Act halted the production of silver coins in the US because the value of silver depreciated.
A step by step approach identities key dates, mintmarks, and helps judge collector quality condition. Additionally, collectors welcome coins with original surfaces. Any silver dollar showing signs of a past cleaning runs the risk of being avoided and ignored by discerning collectors. Once cleaned, Morgan dollars lose approval to a large segment of potential collectors. The bottom coin in the image exhibits natural colorful toning. It is a very nice 1885 silver dollar, lively and eye appealing, not the washed out look of a cleaned and processed coin.
For example, the cost of the Morgan silver coin with no mint in MS 60 ranges from $50 to $60. Michael graduated with top honors from the esteemed Numismatic Studies program at Grand Valley State University. He has contributed extensively to numismatic publications and organizations while building an impressive personal collection focused on early American copper and silver coins. Michael’s dedication, expertise, and passion for American history define his numismatic career. Michael Davidson brings over three decades of experience in buying, selling, and appraising rare United States coins. He is a lifetime member and certified numismatic coin grading specialist at the American Numismatic Association.
Cotton leaves, blossoms, and wheat grains form a wreath above the hair and all fine edges of the design are without any signs of smoothing due to wear. Even a circulated CC coin in poor to good condition can be sold today for anywhere between $440 and $550. In AU58, the highest circulated https://www.broker-review.org/ grade a coin can get, the price increases to $735. On the reverse, it’s on the ribbon tying some of the branches together. The coin’s mint mark is seen right below these tied branches as well. The result of this collaboration was the iconic obverse of the Morgan silver dollar.
In the 1960s and 1970s, the U.S. government sold millions of uncirculated Morgan silver dollars that had been sitting in Treasury vaults for decades. This event, known as the GSA (General Services Administration) Hoard, released a flood of high-quality coins into the market, including many 1885-CC dollars. These coins, which were sold in special GSA holders, remain popular with collectors today. As you can see, the value of an 1885 Morgan silver dollar can vary greatly depending on its condition and mint mark. The 1885-CC, with its low mintage and historical significance, commands the highest prices across all grades.
And if you hit the jackpot of scoring an MS68+ 1885 (P) silver dollar, you will be looking at a whopping $40,000 for your coin. And on the reverse, we see an eagle with its wings spread, sitting on some branches. Morgan Dollar’s produced in 1885 are 90% silver to be precise, and contain .7735 troy oz or 24.05 grams in total of .999 pure silver. Troy ounces weigh about 2 grams more than the standard ounce. CoinTrackers has built a tool that will let you know if your coin is silver or not. CoinTrackers.com estimates the value of a 1885 Morgan Silver Dollar in average condition to be worth $30.00, while one in mint state could be valued around $150.00.
Even in poor, circulated condition, an 1885 (P) silver dollar can be valued at around $33.50 today. Coins in the highest circulated grades can go up to almost $65. Despite the high mintage, Morgan silver coins in good condition can go up to $30 per coin. Basically, they’re coins that were struck during a design or production error.
First, silver is an attractive metal that has many practical uses. As such, it is widely viewed as an investment worth holding onto. While other silver coins look similar to one another, Morgan Silver Dollars have a distinct look that sets them apart. If you enjoy coin collecting for investment purposes, it can also be a financially rewarding hobby. Over time, some rare coins and coins made of pricey metals like gold and silver have generated better returns than any other kind of investment.
Also, if a coin is extremely fine, it will have a unique appeal. Another valuable grade is “uncirculated.” A silver dollar that is considered “uncirculated” has never been used in trade. Your coin should still seem brand new, with no evidence of wear. The hair at Liberty’s temple and coronet is typically where any worn metal first becomes visible in Morgan silver dollars. The 1885 silver dollar with no mint mark is worth around $45 in very fine condition.
All Morgan silver dollars produced from 1878 to 1904, particularly those minted in the 19th century, are highly collectible and desirable among collectors nowadays. The initial silver dollar mintage was never too high because of the limited silver amount in the US Mint’s reserves. LaVere Redfield, a reclusive millionaire from Reno, Nevada, accumulated over 400,000 silver dollars during his lifetime. After his death in 1974, his hoard was discovered, which included many 1885 Morgan dollars from all four mints. The dispersal of the Redfield Hoard through auctions in the 1970s and 1980s had a significant impact on the market for these coins. When grading 1885 Morgan silver dollars, pay close attention to the high points of the design, such as Liberty‘s cheekbone, hairline, and the eagle‘s breast and wing tips.
The 1885-S, known for its quality and eye appeal, also fetches a premium, particularly in higher Mint State grades. New Orleans mint was also a great contributor to the Morgan dollar series. Striking coins in all but two years, its coinage total was second of the mints. Striking millions of silver dollars most years, just over 186 million coins were produced. Two dates standout as very scarce and valuable, 1893 a low of 300,000 coins minted and 1895 another unusually low 450,000 coined.