The Morgan Silver Dollar, though no longer on the production lines of the US Mint, is still a popular coin today. Collectors the world over strive to get their hands on this beautiful piece of American coinage history, but with fewer and fewer of these coins around every year, acquiring one is not such an easy task. Beyond that, acquiring one in excellent condition is something that is far easier said than it is done.
The 1891 Morgan Silver Dollar is one of many editions of the coin, but is one anyone who is looking to put together a complete collection will need.
For coins that are 100 years or older, the condition that the coin is in is something that can never be guaranteed. Thanks to years upon years of circulation, these coins will have plenty of wear and tear more often than not. While there exist well-preserved pieces, the vast majority of these coins have incurred some type of damage thanks to circulation.
For most, the best way to have the condition of a coin judged is to send that coin away for grading at the hands of a professional organization. Understanding that this is a costly process that not everyone can afford, we have provided below a listing of the different coin grades as well as their characteristics.
Uncirculated: If a coin is determined to be Uncirculated, this grade means that the piece in question will have not spent any time on the open market. Thanks to this, you will notice that the overall texture of the coin and even its original luster have remained intact over the years. For collectors, these are far and away the most desirable Morgan Silver Dollars.
Extremely Fine: This is the grade given to coins that have been circulated for a brief period of time. Even though they were circulated, these coins have managed to avoid most signs of wear and tear. With that said, some light surface scratching will be able to be noticed without too much trouble at all.
Fine: Fine is a grade used to describe coins that have been circulated for extended periods of time, but might have been able to avoid incurring any major damage. These coins will play host to the slight smoothing of the surfaces thanks to the changing of hands, and you may even notice a layer of light scratching. All in all, these coins are in decent shape.
Good: If a coin is the recipient of a Good grade, this means that the piece in question will have been heavily damaged during its time in circulation. From heavy scratching to chipping of the surfaces, there is no single type of damage that these coins are subjected to. A great addition to any collection, it goes without saying that these pieces have definitely seen their better days.
For coins that are as old as the 1891 Morgan Silver Dollar, determining an accurate price point sounds much more difficult than it actually is. When determining a price, the first thing you must take into consideration is the type of Morgan you own. Seeing as up to 4 different types of Morgan Silver Dollar were produced annually, the specific type you own will play into the asking price. Secondly, the condition of your Morgan will naturally also play into the price you are asked to pay. Below exists a chart aimed at giving you a better idea of what you can expect to pay for a Morgan Silver Dollar given its condition and type.
1891 Morgan Dollar
|1891 Morgan Dollar||N/A||N/A||$40||$45|
|1891 Morgan Dollar (CC)||N/A||N/A||$140||$190|
|1891 Morgan Dollar (O)||N/A||N/A||$40||$55|
|1891 Morgan Dollar (S)||N/A||N/A||$40||$45||Source: Red Book|