The Silver Dollar was one of the first coins the US Mint created and stuck with straight from the foundation of the Mint. These coins were incredibly useful because they allowed you to transfer a lot of value via one small coin. From a collecting point of view, the first few Silver Dollar editions were generally bland and not exciting. Upon the release of the Morgan Silver Dollar, however, that quickly changed thanks to a new, extravagant design.
Nowadays, the Morgan Silver Dollar is one of the most sought after US coins on the part of collectors. With diminishing quantities, however, this particular coin is only going to grow increasingly difficult to acquire as the years move forward.
When it comes to coins that are as old as the Morgan Silver Dollar, the condition that a specific coin is in is something that can never be guaranteed and often varies from coin to coin. From a collector’s point of view, the wild card that is the condition of a Morgan Silver Dollar is something that prompts a close visual inspection of these coins prior to making a purchase.
For most, it is easiest to simply have coins sent away for grading, because that way the condition of the coin is determined by a professional. Knowing that not everyone has this type of money sitting around, we have provided a listing of the different popular coin grades below.
Uncirculated: For a coin to receive an Uncirculated grade, the piece in question will have spent absolutely no time whatsoever in circulation. Instead, you will notice that these coins more closely resemble a coin that was just recently minted, and not one that was produced over a century ago. Collectors hold Uncirculated coins higher than any others for obvious reasons.
Extremely Fine: A coin that is graded as being Extremely Fine is one that saw time in circulation, but was taken out before long. These coins will appear to be absolutely perfect as far as condition is concerned, but if you look closer you will be able to make out some light signs of wear and tear.
Fine: This grade is given to coins who spent a good bit of time in circulation. Unlike most coins that have been in circulation for extended period of time, those that are receiving of a Fine grade are those coins that have mostly managed to avoid becoming overly damaged. A great addition to any collection, these coins are often affordable for most collectors.
Good: Good is the lowest coin grade on the spectrum, and is used to describe coins that have been quite heavily damaged. It is impossible to say with certainty what kind of damage will be present on these coins because it varies, but you will most often see heavy scratching, bending, and a number of other noticeable signs of wear.
If you are like any other collector, you will naturally want to know what the asking price of a specific Morgan Silver Dollar might be. To do this, you must do nothing more than take into consideration the type of Morgan it is, and the condition it is in. By carefully assessing these two factors, you will gain a better idea of what you might be asked to pay, or what you might ask someone to pay, for a specific Morgan Silver Dollar. Below is a chart that will help you understand an appropriate asking price for one of these coins given the condition and type.
1892 Morgan Dollar
|1892 Morgan Dollar||N/A||N/A||$53||$90|
|1892 Morgan Dollar (CC)||N/A||N/A||$450||$690|
|1892 Morgan Dollar (O)||N/A||N/A||$48||$70|
|1892 Morgan Dollar (S)||N/A||N/A||$300||$1,650||Source: Red Book|