The Morgan Silver Dollar was a hit with the American public when it was released because it was the first silver Dollar to play host to extremely attractive imagery. Prior to this coin’s release, the Silver Dollar was a useful coin, but was not very attractive and instead featured bland, plain designs. Though the Morgan Silver Dollar is no longer being produced, it is extremely popular amongst collectors from all over the world.
For collectors, finding a Morgan Silver Dollar in excellent condition is always the goal, but is not such an easy goal to accomplish. Thanks to their age, these coins can never have their condition guaranteed and can range from being in great shape to being in extremely poor shape.
Whenever a collector considers the purchase of a coin that is more than 100 years old, the first thing he or she will do is carefully analyze the surfaces of the coin. This close analysis is necessary because it is the only way one can find out just what type of condition the coin is in. Because these coins are so old, it is impossible to guarantee the condition.
Under normal circumstances, a Morgan Silver Dollar that is having its condition questioned will be sent away for grading at the hands of a professional organization. Understanding that not everyone has the time and money to send their coins away for grading, we have provided below an outline of the different popular coin grades as well as their associated characteristics.
Uncirculated: A coin that is determined to be Uncirculated is one that spent almost no time at all in circulation. These coins have retained all of their original texture and will even have the luster that was applied at the time of minting. All in all, these coins are the best of the best and are in absolutely perfect shape.
Extremely Fine: An Extremely Fine coin is one that has spent only a very limited period of time in circulation. Though they may appear to be in perfect shape, the reality is that under close inspection you will be able to make out some light scratching and other light signs of wear. For collectors, these coins are often a nice, cheaper alternative to Uncirculated editions.
Fine: Fine is a middle of the road grade given to coins that have been circulated, but through that circulation have not incurred a lot of damage. You will notice that the texture of the coin will have been worn down a bit due to the changing of hands over the years, and you will also notice some light consistent scratching on the surfaces of the coin.
Good: If the coin in question was given a Good grade, this means that the coin was circulated very heavily and for an extended period of time. Scratching and chipping are two unavoidable qualities of coins of this grade as well. All in all, collectors may not think of Good coins as the first ones they want to add to a collection, but they are still a great addition to any complete collection despite their poor condition.
Determining a price for the Morgan Silver Dollar is as easy as taking into consideration a few different factors. For one, because there were multiple types of these coins minted every year, the scarcity associated with the exact type of Morgan you own will play into the asking price. Secondly, because collectors care so much about condition it only follows that the condition of the coin will also play into the asking price. Below is a chart aimed at giving you a better idea of what you might be asked to pay for an 1882 Morgan Silver Dollar given its condition and type.
1882 Morgan Dollar
|1882 Morgan Dollar||N/A||N/A||$39||$41|
|1882 Morgan Dollar (CC)||N/A||N/A||$120||$145|
|1882 Morgan Dollar (O)||N/A||N/A||$39||$42|
|1882 Morgan Dollar (S)||N/A||N/A||$39||$41||Source: Red Book|