For instance, this proof coin holds an auction record of $92,000. This comparison table will help you comprehend the significance of grades. 96 distinct date-and-mint combinations created more than 600 million Morgan dollars, and hundreds of millions were eventually destroyed. However, a large mass of Morgan dollars kept accumulating in Treasury warehouses as well as regional and centralised bank vaults. Silver Dollars are no longer an integral aspect of American currency, but for many years they were.
The US minted the 1885 silver dollar with no mint mark and also the 1885 CC silver dollar, 1885 O silver dollar, and 1885 S silver dollar. The mint mark, when present, can be found on the reverse side of the coin below the wreath. Covering Bust Dollars beginning in 1794 next Seated dollars through Morgan and the last of the Peace silver dollars. All include value charts, alongside grading images to find the accurate value of your old dollars. The reverse of the Morgan Dollar has an eagle in the center with its wings spread and a wreath surrounding. As a result, the 1885-O Morgan dollars is one of the most common Morgan dollars in Mint State, and is THE most common uncirculated New Orleans Morgan dollar.
So if you have an 1885 silver dollar, don’t hesitate to sell it now so you can enjoy the monetary benefits later on. Proof coins are unique coins that represent a limited amount of precious metal. The first proof coins were produced in the United States in the early 1900s to prove the legitimacy of American coinage. Today, numismatists use proof coins as a gauge of quality and condition. The New Orleans mint struck an estimated 9 million silver dollars in 1885.
Elegant, shiny, and heavy Morgan (Liberty Head) silver dollars are unique US coins minted from 1878 to 1904 and later in 1921. They are collectible, thanks to their age and uniqueness, plus they are an excellent investment because of their silver content and stable value. The US Mint destroyed all error coins before releasing them into circulation as pieces that couldn’t meet technical requirements. Even though some collectors report a few errors, like obverse struck through, off-center, and micro-O error, the fact is that Morgan silver dollars typically came without imperfections.
- Coins in the mint state have different prices depending on the preservation level.
- The silver melt value for this coin is $17.98 as of January 31, 2024.
- All include value charts, alongside grading images to find the accurate value of your old dollars.
- First of all, it is a great way to learn about American history by inspecting the coins and learning about the period they were minted.
The Philadelphia mint struck an estimated 17,786,837 silver dollars in 1885, making this the highest mintage that year. As is tradition, the coins from this mint did not have a mint mark. Many rare and valuable dates and mintmark combinations are found throughout the entire 1878 through 1921 history of Morgan silver dollars. With a https://bigbostrade.com/ minimum value of $20.90
and rising from there, accurately determine how much your rare silver coins are worth. By determining your 1885 dollar is in acceptable condition and with original surfaces identifies collector quality with solid interest. The top coin in the image remains bright silver as minted and never saw circulation.
How can you tell if Seated Liberty dollars are fake?
The US minted the 1923 silver dollar with no mint mark and also the 1923 D silver dollar and 1923 S silver dollar. The mint mark, when present, can be found on the reverse side of the coin, below the word “ONE”. The 1923 Peace dollars have value as both numismatic coins and as silver bullion.
Other pricey 1885 Morgan Silver Dollar coins.
The silver melt value for this coin is $17.98 as of January 31, 2024. This melt value is calculated from the current silver spot price of $23.25 per ounce. Discovering rare mintmarks and high condition all contributes to 1885 Morgan silver dollar value. While many are flat in the center, sharply struck examples exist (at a premium). With so many available, take your time to cherry pick a nice one. This date is common through MS66, due to the millions that spent their entire existence in bank bags.
Specs & Design
Morgans were the first dollars containing silver after the Bland-Allison Act from 1873 that allowed purchasing silver. Therefore, the US Mint could start minting new coins created by George T. Morgan’s design. Pieces struck in 1885 were in a group of early date series with a low mintage, making these beautiful pieces precious for collectors. The survived 1885 Morgan silver dollars of 9,185,000 produced in New Orleans typically cost $30 to $60, depending on the degree of wear.
These coins are gorgeous, solid, and, more importantly, contain 90% silver, a high-demand precious metal. The degree of wear (hopefully none at all) is a little hard to gauge but is one step that needs attention. Following the lead of collectors, examine what is free margin in forex the condition of your 1885 dollar closely. As you compare your coin to the images, a close match of its condition becomes apparent. This process determines the “grade” and using the above chart identifies an accurate value of your 1885 silver dollar.
In uncirculated condition the price is around $375 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $2,000. The 1885 O silver dollar is worth around $45 in very fine condition. The 1885 CC silver dollar is worth around $625 in very fine condition. In uncirculated condition the price is around $775 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $1,300.
Because of this, it’s crucial to evaluate the coin’s value before investing. These coins were poorly stored in bags at the minting facility, resulting in many acquiring bag marks. Most 1885-S silver dollars were also highly circulated, making high-grade examples rare. As a result of the late release, 1885-O silver dollars are widely available in high grade. Despite these coins being struck more than 130 years ago, circulated examples are still in good shape.
He is a lifetime member and certified numismatic coin grading specialist at the American Numismatic Association. Because they are relatively scarce and in demand, those interested in selling their 1885 Morgans can turn to online coin dealers like eBay. Some collectors have even paid hundreds of dollars for a single coin!