At the suggestion of his friend, Morgan used Anna Willess Williams, a teacher of Philosophy, as the model on the coin’s obverse. The Sherman Silver Purchase Act of 1890 increased the amount of silver the Treasury could buy, but a stock market crisis caused the Act to be repealed in 1893. The Mint stopped making the silver dollar in 1904 when the stockpile decreased. Influential silver miners, looking for an immediate market for their bullion, urged the government to buy silver and produce unlimited coins.
Silver Dollar Grading
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No-Mint Mark Silver Dollar Value
You should also check for the mint mark location, font size and strike, which tend to be off in fake silver dollars. In circulated condition, expect between $37 and $325 for your 1885-S Morgan silver dollar, depending on the grade. Rare examples in mint state are worth slightly more, with an MS65 bringing as https://forexanalytics.info/ much as $2,150 and a gem-quality MS67 fetching as much as $60,000. Morgan silver dollars are some of the most collectible in the history of United States coinage.
But Congress rejected this proposal and omitted silver coins from the authorized legal tender list, leading to a massive protest. Bobby Avena Bobby is a fixture at all major US coins shows. Rare and high grade United States coins are his main specialty.
A few light contact marks are present but they are barely noticeable. You will also notice the mint marks CC( Carlson City), O (New Orlean), and S (San Francisco) just above the D in DOLLAR on the reverse. 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.
Key to 1885 Morgan Silver Dollar Value is Judging Condition
Check value charts, identify mintmark locations and judge condition using grading images… all combine to accurately discover the value of your old coins. By determining your 1885 dollar is in acceptable condition and with original surfaces identifies collector quality with solid interest. Well defined examples with little or no wear are eagerly sought. The top coin in the image remains bright silver as minted and never saw circulation.
Proof coins with no mint mark are available and they are each valued at around $3,750 in PR 63 condition. The US minted the 1885 silver dollar with no mint mark and also the 1885 CC silver dollar, 1885 O silver dollar, and 1885 S silver dollar. The mint mark, when present, can be found on the reverse side of the coin below the wreath. The New Orleans mint struck an estimated 9 million silver dollars in 1885.
Grading Morgan silver dollars involves examining the high points on the obverse and investment manager job description reverse for signs of wear. Morgan silver dollars were not needed for circulation; they were mainly struck as a subsidy to support the silver industry. As such, large quantities of these coins sat in bags at the Treasury vaults, most released in the 1960s.
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 and slightly more visible as you go up the grading scale. Mint 1885 silver dollars may show signs of bag marks and other minor contact marks but the brilliant luster and detail will be intact throughout the coin. You might be glad to discover that the 1885 silver dollar is worth more than face value. So, this coin can be a good investment whether selling or buying.
Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons. Interestingly, most of these coins were not released into circulation and remained in the Treasury stockpile until the 1960s, when the remaining examples were released en masse. Examples in mint states will fetch more, with one graded MS65 bringing as much as $1,600, while an MS68 specimen is worth up to $80,000. According to Morgan, Anna’s Greek profile was perfect for the new silver coin, but back then, it was considered disgraceful for a woman to pose as a model. The Morgan dollar resulted from the Free Silver coinage movement.
- As you compare your coin to the images, a close match of its condition becomes apparent.
- These coins are gorgeous, solid, and, more importantly, contain 90% silver, a high-demand precious metal.
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- These coins were poorly stored in bags at the minting facility, resulting in many acquiring bag marks.
This coin in circulated condition is worth at least its weight in silver. This melt value is calculated from the current silver spot price of $28.87 per ounce. In 2011, Goldenberg Auctioneers sold what is believed to be the most expensive 1885 proof silver dollar. This specimen was graded PF69 and was auctioned for an astonishing $92,000.
In uncirculated condition the price is around $375 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $2,000. The 1885 O silver dollar is worth around $48 in very fine condition. Uncirculated coins with a grade of MS 65 can sell for around $215. The 1885 CC silver dollar is worth around $625 in very fine condition. In uncirculated condition the price is around $775 for coins with an MS 60 grade.
Morgan Silver Dollar Value
The 1885 silver dollar with no mint mark is worth around $48 in very fine condition. In uncirculated condition the price is around $70 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $225. The 1885 S silver dollar is worth around $55 in very fine condition.
These coins are gorgeous, solid, and, more importantly, contain 90% silver, a high-demand precious metal. Today there is a wide range of common to rare coin values found in your box of old coins. From your old pennies to gold coins, all US coin series are covered.
Covering Bust Dollars beginning in 1794 next Seated dollars through Morgan and the last of the Peace silver dollars. All include value charts, alongside grading images to find the accurate value of your old dollars. Any silver dollar showing signs of a past cleaning runs the risk of being avoided and ignored by discerning collectors. Once cleaned, Morgan dollars lose approval to a large segment of potential collectors. It is a very nice 1885 silver dollar, lively and eye appealing, not the washed out look of a cleaned and processed coin. Discovering rare mintmarks and high condition all contributes to 1885 Morgan silver dollar value.