For instance, you can find those in an MS 60 grade for approximately $50 to $60. On the other hand, those with an MS 68 rating are precious and can cost over $20,000. The auction record won a coin sold at Legend Rare Coin Auctions in 2015 for an incredible $39,950. Then read Coin Collecting Investment an article that details the benefits of coin what is an introducing broker and forex ib program collecting as a way to build wealth.
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All Morgan silver dollars produced from 1878 to 1904, particularly those minted in the 19th century, are highly collectible and desirable among collectors nowadays. The initial silver dollar mintage was never too high because of the limited silver amount in the US Mint’s reserves. Most surviving circulated examples are graded good to fine, but even these are worth good money.
You can look for some things to ensure your 1885 silver dollar is real. First, your coin should weigh about 26.73g, not significantly more or less. Use a pair of callipers to ensure the diameter and thickness are accurate. You should also check for the mint mark location, font size and strike, which tend to be off in fake silver dollars. In its circulated condition, an 1885 no-mint mark dollar is worth between $32 and $70. These coins fetch more in their mint state, from $75 for a piece graded MS60 to $65,000 for gem-quality specimens graded MS69 and above.
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Please check our grading guides to know your coin scale, It’s the necessary step to know the exact value of your coin. The motto E PLURIBUS UNUM appears at the top around the coin’s rim while the date, 1885, is imprinted at the bottom. The school teacher Anna Willess Williams secretly posed for assistant chief engraver George Morgan for the coin’s design.
The cardboard and mylar “flips” the dealer uses in the display cases are suitable for many of your coins. Easy to use and inexpensive they are a good solution to safe storage and preserving value. The US Mint destroyed all error coins before releasing them into circulation as pieces that couldn’t meet technical requirements. Coins worth more to a collectors may be a better long term investment. If the metal prices drop you will still have a coin that a numismatic would want to buy. Because of their popularity, Morgan silver dollars are prone to countgerfeiting.
The reverse of the 1885 Morgan silver dollar
Elegant, shiny, and heavy Morgan (Liberty Head) silver dollars are unique US coins minted from 1878 to 1904 and later in 1921. They are collectible, thanks to their age and uniqueness, plus they are an excellent investment because of their silver content and stable value. With 17,787,000 produced Morgan silver dollars, Philadelphia had the highest mintage in 1885. Despite that, even pieces in good condition are valuable, and you should set aside about $30 for one. Coins in the mint state have different prices depending on the preservation level.
Morgan Silver Dollar Errors
- In its circulated condition, an 1885 no-mint mark dollar is worth between $32 and $70.
- Following the lead of collectors, examine the condition of your 1885 dollar closely.
- Despite that, even pieces in good condition are valuable, and you should set aside about $30 for one.
- Over a century old 1885 Morgan silver dollars are highly collectible and often pricey.
Even those in circulated condition cost $450 to $660, while pieces in perfect condition often reach a price of $600 to $8,400. That year, only 930 proof silver dollars were struck, making examples extremely rare and valuable. Values for these proof coins range from $1,375 to $37,500, but cameo and deep cameo examples can fetch as much as $60,000 and $80,000, respectively. In addition to the regular strike of 1885 silver dollars, the Philadelphia mint produced proof coins specially struck for collectors. Despite the high mintage, 1885 no mint-mark silver dollars are quite valuable even in the circulated state. Their intrinsic value lies in their silver content, making them desirable among collectors.
We will explore the worth of each variety and discover errors that can increase your coin’s value by hundreds or thousands of dollars. Now add in the popularity of collecting silver dollars and collector demand, the result, many are worth far above silver value. However this is just a minimum value representing how much a circulated-worn 1885 dollar is worth. Metal composition – You can hardly notice a difference in silver content with the naked eye. However, you can check your coin’s magnetic characteristics since silver is not a magnetic metal. Morgan Dollar’s produced in 1885 are 90% silver to be what is margin and how does it work precise, and contain .7735 troy oz or 24.05 grams in total of .999 pure silver.
Most 1885-S silver dollars were also highly circulated, making high-grade examples rare. The Philadelphia mint struck an estimated 17,786,837 silver dollars in 1885, making this the highest mintage that year. As is tradition, the coins from this mint did not have a mint mark. Since the Carson City mint produced 228,000 Morgan silver dollars in 1885, surviving pieces in the mint state are rare. The most valuable are scarce deep mirror proof-like specimens worth an impressive $75,000 to $90,000.
The Morgan dollar resulted from the Free Silver coinage movement. The gold rush of the 1850s to 1860s led to the discovery of large silver deposits in the West. PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. MS 65 Uncirculated condition- There is strong luster and eye appeal. A few light contact marks are present but they are barely noticeable.
But Congress rejected this proposal and omitted silver coins from the authorized legal tender list, leading to a massive protest. Collectors who pursue the many VAM (Leroy C. Van Allen and A. George Mallis) varieties may find several die variations to pursue from 1885. The most expensive Morgan minted this year also came from the Carson City mint. This coin in an MS 68+ grade was paid $135,125 at Legend Rare Coin Auctions in 2015. The most pricey is the one in an MS 68 grade sold at Heritage Auctions in 2015 for $37,600. Finally, a silver shortage stopped production in 1904, and this lovely coin disappeared from use after one more attempt in 1921.
Nowadays, the 1885 silver dollar value is high due to the limited number on the market. The coin has luster, but there may be a few stains, abrasions, or surface marks. Now that you best mt4 white label brokers and providers 2023 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.
Collectors are often prepared to set aside $75,000 to $90,000 for deep mirror proof-like pieces. 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 $27.93 per ounce.
Uncirculated coins with a grade of MS 65 can sell for around $1,450. 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 dollars are the most valuable in the series because of their scarcity. Since the San Francisco mint struck a modest 1,497,000 Morgan silver dollars in 1885, you can expect high prices, particularly for well-preserved coins. While those in circulated condition typically cost under $200, rare coins in the mint state always reach significant sums. 228,000 Morgan silver dollars were minted in Carson City in 1885, making them valuable on the current coin market.