The Silver Dollar is an interesting piece for coin collectors to consider because even though it had its undeniable place in the advancement of US currency, it is no longer being produced. Of the many different styles of the coin produced by the US Mint, few are more popular than the Morgan Silver Dollar, which was introduced to the market towards the end of the 19th century. This coin was so loved because of its extravagant design that superseded the designs of previous editions.
Nowadays, though the Morgan is no longer being produced, it remains popular in the eyes of collectors the world over. Unfortunately, as time moves forward and the quantity of these coins diminishes, it is only going to get increasingly difficult for collectors to get their hands on these coins.
For coins that are well over 100 years old, it goes without saying that the condition the coin is in is often left up in the air, meaning no two Morgan Silver Dollars will be in the same exact condition. Having been circulated quite extensively more often than not, these coins are always having their condition called into question.
For most collectors, the surefire way to have the condition of a coin judged is to send that coin away for grading at the hands of a professional company. Understanding that this is not always an option for everyone, we have provided an outline of the different popular coin grades below.
Uncirculated: A coin that is graded as being Uncirculated is one that never spent any time in circulation. Because of this, the coin in question will have almost no signs of damage and will more closely resemble a coin that was just recently minted. For collectors, these are the most desirable coins simply because of how well-preserved they are.
Extremely Fine: A coin that is graded to be Extremely Fine may have spent some time in circulation, but this time was incredibly short-lived. The most common signs of wear and tear on these pieces will be some light scratching on the surfaces, and nothing much beyond that. These coins are also the apple of many collectors’ eyes because they are still in excellent condition for their age.
Fine: If a coin is receiving of a Fine grade, this means that the coin in question was exchanged for an extended period of time but somehow managed to avoid incurring any major damage. For those holding the coin, you will notice that the surfaces are smoother to the touch and that both sides are home to plenty of surface scratching.
Good: Good is the lowest grade a coin can receive, and this is reserved for coins that have been extremely heavily circulated. All in all, these coins appear to have been through their better days, as deep scratching and bending are two noticeable signs of wear.
As far as determining a price for the Morgan Silver Dollar is concerned, this can be done by simply assessing the type of coin it is and the condition it is in. Because there are different levels of scarcity associated with the different types of Morgan’s that were minted every year, this is arguably the biggest factor to consider when attempting to determine a price. Secondly, condition means everything to collectors, so it is only right that those well-preserved coins will sell for the highest prices. Listed below is a chart aimed at giving you a better idea of what you might be asked to pay for a Morgan given its condition and type.
1890 Morgan Dollar
|1890 Morgan Dollar||N/A||N/A||$39||$43|
|1890 Morgan Dollar (CC)||N/A||N/A||$140||$190|
|1890 Morgan Dollar (O)||N/A||N/A||$39||$49|
|1890 Morgan Dollar (S)||N/A||N/A||$39||$45||Source: Red Book|