Silver Dollars have been a mainstay of American currency since the early days of the US Mint. Though there are many popular versions of the Silver Dollar that have been circulated, few are more popular than the Morgan Silver Dollar. What’s more, because it was produced shortly after the turn of the century, these coins are especially popular for people who are looking to put together a complete collection.
For collectors, it is only going to be increasingly difficult to acquire a Morgan simply because fewer and fewer of them are going to be on the market with each passing year. That is why now is the best time to purchase these coins.
For coins that are as old as the 1902 Morgan Silver Dollar, the condition of the coin means everything to collectors. For this reason, you will see collectors carefully analyze every aspect of a coin looking to spot even the smallest signs of wear and tear. Having been on the open market for any number of decades, these coins have had ample opportunities to become damaged.
For most people, the best option is to have these coins sent away for grading at the hands of a professional company. This is not an option for everyone, and knowing this we have provided a listing of the different coin grades below.
Uncirculated: A coin that is graded as being Uncirculated is one that spent almost no time exchanging hands. Thanks to their being kept in a safe place, these coins will have avoided any and all damage. As such, these coins will look more like coins that have just been minted rather than coins that are more than a century old.
Extremely Fine: A coin that is graded as being Extremely Fine is one that has spent a good bit of time in circulation, but has avoided almost all damage. Under close inspection, you will notice some light wear and tear, but not so much that the aesthetic qualities of the coin are detracted from. For collectors, these coins are great because they are affordable and still in great shape.
Fine: A coin that is determined to be of Fine grade is one that has spent a good bit of time being circulated and has also incurred a bit of damage. In most cases, the damage you find on the surfaces of the coin will typically come in the form of surface wear such that the coin’s faces will feel smooth to the touch.
Good: Good is the grade given to coins that have been circulated for extended periods of time and have been heavily damaged during that time. You will notice that the surfaces of the coin will have been completely smoothed such that the imagery and inscriptions may no longer be able to be made out with the naked eye. Though affordable, these pieces are generally in pretty poor shape.
If you would like to determine an accurate price for the Morgan Silver Dollar, you must first assess the condition of the coin. In addition to that, by paying attention to the type of coin you own you will be able to tell just how rare the coin you have is. Listed below is a chart aimed at giving you a better idea of what you might be asked to pay for a Morgan Silver Dollar given its condition and type.
1902 Morgan Dollar
|1902 Morgan Dollar||N/A||N/A||$39||$45|
|1902 Morgan Dollar (O)||N/A||N/A||$39||$45|
|1902 Morgan Dollar (S)||N/A||N/A||$190||$275||Source: Red Book|