Nowadays, the 1885 silver dollar value is high due to the limited number on the market. The reverse of the Morgan Dollar has an eagle in the center with its wings spread and a wreath surrounding. Lady Liberty’s left-facing portrait wearing a Phrygian cap features prominently on the obverse of the 1885 silver dollar. Assistant chief coin engraver, George Morgan, began drafting designs for the new silver coin in 1876, and by March of 1878, the coin’s production was already underway.
Prices are high, and basically flat across the spectrum of circulated 1885-CC Morgans, a reflection of just how rare they are. This exercise in silver dollar futility was to keep up with the 1878 Bland-Allison Act’s requirement to turn $2 million worth of silver bullion into silver dollars every month. It was decided that the New Orleans Mint had nothing better to do, so it was ordered to make Morgan dollars. Circulated coins, on the other hand, will show unmistakable signs of wear on the high points. The details, high points and fields will be smooth on low-grade circulated examples top 5 stop loss orders strategies for futures trading and slightly more visible as you go up the grading scale. You might be glad to discover that the 1885 silver dollar is worth more than face value.
Most 1885-S silver dollars were also highly circulated, making high-grade examples rare. In addition to the regular strike of 1885 silver dollars, the Philadelphia mint produced proof coins specially struck for collectors. 228,000 Morgan silver dollars were minted in Carson City in 1885, making them valuable on the current coin market. Even those in circulated condition cost $450 to $660, while pieces in perfect condition often reach a price of $600 to $8,400. In the 1940s and 1950s, Texas casino owner Ted Binion amassed a massive collection of silver dollars, including many 1885 Morgans. After his death, the hoard was dispersed through auctions and private sales, giving collectors a chance to acquire high-grade examples of this classic coin.
History, Information, and Value of 1885 Morgan Dollar
This Report is provided as a resource for hobbyists’ informational use only and should not be relied upon for the purpose of making a purchase or an investment. The CCG Companies make no representation or warranty concerning the accuracy or reliability of the information contained herein. In the late 19th century, silver played a crucial role in American politics and economics. The “Free Silver” movement advocated for the unlimited coinage of silver to inflate the currency and help farmers and other debtors. This contentious issue divided the nation and shaped the political landscape of the time. Strike-through errors are the most common coin error and equally the most desirable as you can identify them with unaided eyes.
O Morgan Silver Dollar Value
The auction record won a coin sold at Legend Rare Coin Auctions in 2015 for an incredible $39,950. The 1885 Morgan dollar is your typical common date coin of the series. For PCGS, the MS67 population has increased from 39 in November 2007 to 143 on March 29 of this year when we last checked to 164 on October 2, 2024 (with 16 at MS67+ and one at MS68).
- In addition to the regular strike of 1885 silver dollars, the Philadelphia mint produced proof coins specially struck for collectors.
- Examples in mint states will fetch more, with one graded MS65 bringing as much as $1,450, while an MS68 specimen is worth up to $80,000.
- The copious bag marks prevent these coins from getting a higher grade.
- It was decided that the New Orleans Mint had nothing better to do, so it was ordered to make Morgan dollars.
- Proof and prooflike examples of this issue may have greater or lesser “finest known” and different record auction prices.
Silver Dollar Coin Value: How Much Is It Worth?
As a collector or investor, it‘s essential to stay informed about current trends and auction results to make informed decisions. With a mintage of only 228,000, the 1855-CC silver dollar is considered the rarest Morgan after the 1903-O silver dollar. A compromise was reached, and in 1878, the Bland-Allison Act authorized the U.S. Treasury to buy silver bullion worth 2-4 million dollars each month at the prevailing market price. liquidity providers key concepts and impacts for traders The coin has luster, but there may be a few stains, abrasions, or surface marks. The most pricey is the one in an MS 68 grade sold at Heritage Auctions in 2015 for $37,600.
My Collection
These coins, which were sold in special GSA holders, remain popular with collectors today. Now that we‘ve explored the historical context and importance of grading let‘s take a closer look at the current market value of 1885 Morgan silver dollars. The following table provides a comprehensive overview of prices for various grades and mint marks, based on recent auction results and dealer listings. Many 1885 silver dollars are valuable in circulated and uncirculated condition due to the coin’s silver content. But, proof silver dollars and uncirculated 1885-CC silver Libra cryptocurrency stock dollars are the most valuable in the series because of their scarcity.
