The Morgan Silver Dollar, though out of production for more than 100 years at this point, is easily one of the most popular coins ever produced by the US Mint. Unlike Silver Dollars produced in the years prior to the Morgan’s release, the Morgan Silver Dollar boasted imagery that was intricate and beautiful in its design. It is this design that really draws collectors in even to this day.
Unfortunately, due to the age of these coins, finding them in excellent condition is something that is easier said than done. As the years wear on, finding well-preserved Silver Dollars is only going to grow increasingly difficult.
For coins that are more than a century old, the first thing a collector will concern him or herself with is the condition the coin is in. Being that one coin may be well-preserved while the next will be destroyed, collectors need to be extremely careful before ever committing to the purchase of a coin. As time progresses, this is only going to grow truer as the number of well-preserved pieces is bound to diminish as collectors purchase more and more.
For many, the most logical way by which a coin’s condition can be assessed is by sending it away to a professional coin-grading company. Understanding that this costly process is not always an option, we have provided below an outline of different coin grades.
Uncirculated: If your Morgan Silver Dollar is graded as being Uncirculated, this means that the coin in question will have spent no time at all exchanging hands. Because of this, the coin itself will appear to be in perfect shape and will look as though it was just recently minted. Thanks to the pleasing aesthetic qualities of these coins, collectors hold them higher than coins of any other grade.
Extremely Fine: A coin that is determined as being Extremely Fine is one that has spent only a very short period of time in circulation. These coins, apart from some light scratching, will show absolutely no signs of wear and tear. All in all, they are a great addition to any collection.
Fine: A coin that is graded as being Fine is one that spent a good bit of time in circulation. Fortunately, though these coins were circulated extensively, they mostly managed to avoid the damage heavily circulated coins all too often incur. Thanks to this, these coins are still in decent overall shape.
Good: Good is the lowest grade a coin can receive and is usually indicative of a piece that has been heavily damaged during extensive years in circulation. These pieces will often be heavily scratched and chipped such that the imagery on the faces will be hard to make out. All in all, these coins are affordable but not very attractive.
As far as determining a price for the Morgan Silver Dollar is concerned, you can do so by taking into consideration just a few key factors. For one, because multiple types of the coin were minted every year, the exact type you own will play into the asking price. Secondly, because condition means the world to collectors, it goes without saying that well-preserved pieces will almost always sell for higher prices than those that have been damaged. Below exists a chart aimed at giving you a better idea of what you might be asked to pay for an 1889 Morgan given its condition and type.
1889 Morgan Dollar
|1889 Morgan Dollar||N/A||N/A||$39||$41|
|1889 Morgan Dollar (CC)||N/A||N/A||$3,000||$7,000|
|1889 Morgan Dollar (O)||N/A||N/A||$39||$55|
|1889 Morgan Dollar (S)||N/A||N/A||$75||$105||Source: Red Book|