As far as US Mint coins are concerned, there are few more popular than the Morgan Silver Dollar. This particular coin has risen to such high ranks of popularity mostly because it was the first Silver Dollar created by the US Mint that had a design that appealed to the hearts and minds of every American. Even now, more than 100 years after the coin was produced, these pieces are extremely attractive in the eyes of coin collectors everywhere.
Unfortunately, because of the age of these coins, it is best that you act fast as acquiring them is something that will only grow increasingly difficult as time moves forward.
If you are discussing a coin that was minted in the 1800s, chances are you are talking about a piece that has exchanged hands thousands of times over a period of time that spans decades. For collectors, the fact that Morgan Silver Dollars were so heavily circulated means that finding one that has been well-preserved is no easy task. This is why you will see collectors closely analyze the condition of a specific coin in order to point out any and all imperfections.
Having a coin graded is the easiest way to determine overall condition, but this process is costly and not suitable for everyone. Knowing this, we have provided a listing of the different popular coin grades below.
Uncirculated: A coin that is determined to be Uncirculated has never spent any time in circulation and is in perfect condition. These coins will have retained all of their original texture and will, in most cases, even shine the way it did when it was first produced all the way back in 1892. For collectors, the pristine nature of these coins makes them especially desirable.
Extremely Fine: A coin that is determined to be Extremely Fine will appear to be in mostly pristine condition, but under close inspection you will be able to notice some imperfections. On these coins, the most noticeable imperfections will be light surface scratching and other small defect.
Fine: If a coin is given the grade of Fine, this means that it was in circulation for an extended period of time before being taken out. During their time exchanging hands, these coins will have incurred some damage, but none of which can be described as major. All in all, these coins are in great condition and are often reasonably priced.
Good: Good is the poorest coin grade and is used to describe coins that have definitely seen their better days. Upon feeling the coin, you will notice that the surfaces have been almost entirely smoothed out thanks to the changing of hands over the years. In addition, all sorts of scratching and chipping will mar the faces of the coin. In general, these coins are the most affordable simply because of their poor overall condition.
One of the most difficult parts of coin collecting is determining how much to charge for a piece if and when the time comes to sell. When it comes to the Morgan Silver Dollar, look no further than the condition and type of coin. The condition of the coin means everything to collectors, so if you can find a piece that has been well-preserved, you can bet that the asking price will be on the higher end of things. Secondly, because up to four different types of Morgan’s were produced every year, the scarcity associated with the specific coin type will also play into the asking price. Below exists a chart aimed at giving you a better idea of what you can expect to pay for an 1893 Morgan Silver Dollar given its condition and type.
1893 Morgan Dollar
|1893 Morgan Dollar||N/A||N/A||$275||$400|
|1893 Morgan Dollar (CC)||N/A||N/A||$1,500||$2,400|
|1893 Morgan Dollar (O)||N/A||N/A||$475||$775|
|1893 Morgan Dollar (S)||N/A||N/A||$9,000||$20,000||Source: Red Book|