The Morgan Silver Dollar is a coin that is a prized part of so many collections, and has been for some time now. These pieces of US currency were first introduced towards the end of the 1800s, and were almost an immediate hit when introduced. The reason for their extreme popularity was due to the fact that the design of the Morgan was far superior to the designs of previous Silver Dollar editions.
For collectors, the fact that these coins are so old is worrisome because, as time moves forward, the number of these coins remaining on the market is constantly being diminished.
When it comes to coins that are this old, the reality of the matter is that it is quite difficult to find them in perfect condition. Instead, what you will often find are coins that have been circulated for varying amounts of time, and have incurred damage as a result. This is why, when a collector ponders the purchase of one of these coins, they will first very carefully consider the coin’s overall condition.
One of the best ways to have the condition of a coin judged is to send it away for grading at the hands of a professional company. Understanding that this is a costly process not able to be afforded by everyone, we have provided below a listing of the different coin grades as well as their characteristics.
Uncirculated: Uncirculated is the grade given to coins that have been circulated for absolutely no time at all. These coins have been kept in a safe place throughout the entirety of their existence, and have perfectly preserved surfaces as a result. Collectors love Uncirculated coins, but find that they are almost always the most expensive.
Extremely Fine: A coin that is determined to be of Extremely Fine grade is one that spent only a short period of time being circulated. Because these pieces were only circulated for a short period of time, the type of damage that will show on the faces of the coin will be light in nature. All in all, these coins are in great condition and are a perfect addition to any collection.
Fine: If your coin is receiving of a Fine grade, this means that the coin was circulated for a decent amount of time. Though some wear and tear will be able to be seen on the faces of the coin, the damage will not be significant. In all, you will notice only a bit of surface wear as well as some light scratching.
Good: If a coin is determined to be of Good grade, the coin in question will have been circulated for an extended period of time. These coins will almost always be heavily damaged, some to the point where the imagery and inscriptions will not able to be seen.
If you are trying to determine a price for the 1896 Morgan Silver Dollar there are a few things that you have to take into consideration. For one, because there were at least four types of Silver Dollars produced every year, the exact type you own will play into the asking price. Secondly, it goes without saying that condition means everything to collectors. Listed below is a chart aimed at giving you a better idea of what you will be asked to pay for a Morgan Silver Dollar given its condition and type.
1896 Morgan Dollar
|1896 Morgan Dollar||N/A||N/A||$39||$41|
|1896 Morgan Dollar (O)||N/A||N/A||$43||$160|
|1896 Morgan Dollar (S)||N/A||N/A||$220||$775||Source: Red Book|