The Morgan Silver Dollar is a special coin for collectors because of its historical significance as well as a design that has persisted through the years. When the coin was first introduced in the late 1870s, it was an immediate hit with the American public mostly due to the fact that its design was far superior to the designs of previous Silver Dollars. Even nowadays, well after the coin was taken off the production lines, it remains popular amongst collectors.
Unfortunately, due to the age of these coins, there are only ever going to be fewer and fewer available for purchase. That is why now is the best time to get your hands on these coins.
As far as Morgan Silver Dollars are concerned, the condition of your coin is never going to be guaranteed to be perfect. Not only are these coins very old, they have been circulated for unknown periods of time and have had ample opportunity to become damaged along the way. For this reason, you will notice that competent collectors do everything in their power to assess the condition of a coin before ever making a purchase.
For many, an easier alternative to carefully analyzing the surfaces of a coin is to have that coin sent away for grading. Understanding that this is not always an option, we have provided below an outline of the different coin grades as well as
Uncirculated: If a coin is determined to be Uncirculated, this means that the piece was never in circulation. Because it never exchanged hands like typical coins do, these pieces will be extremely well-preserved and free from any damage. For collectors, these coins are the best of the best and are an absolutely great addition to any collection.
Extremely Fine: If a coin is determined to be in Extremely Fine condition, the coin in question was circulated for a time, but was taken out of circulation before too much damage could occur. These coins will play host to some light surface damage, but this is most often only able to be viewed under close inspection. In great condition, these coins are also a perfect addition to any collection.
Fine: If a coin is of Fine grade, this means that it was circulated quite extensively but avoided most damage. These coins will have had their surfaces worn down to the point where they are smooth to the touch, but you will notice that the imagery and inscriptions on the coin itself are still able to be viewed.
Good: This is the worst grade a coin can receive and is saved for those pieces that have been heavily and irreversibly damaged. From deep scratching to the bending of the coin itself, the types of damage found on these coins knows no bounds. All in all, these coins are a good addition to any collection—especially for the price.
For coins are more than 100 years old, the condition of that coin is something collectors constantly worry about. The condition of a coin this old very heavily influences price, so it should come as no surprise that well-preserved pieces are valued much more than those that have been damaged. In addition, the type of coin also means a lot to collectors and will play into the asking price. Below is a chart aimed at giving you a better idea of what you might be asked to pay for one of these coins given its condition and type.
|1897 Morgan Dollar||N/A||N/A||$39||$41|
|1897 Morgan Dollar (O)||N/A||N/A||$41||$100|
|1897 Morgan Dollar (S)||N/A||N/A||$39||$45||Source: Red Book|