This highly collectible coin can be a good investment whether you want to sell or buy a piece. The 1885 silver dollar has a reeded edge, while the inner rim features decorative ridges throughout the coin’s diameter. Learning about the features of the 1885 silver dollar can help you quickly determine if your coin might be valuable. Influential silver miners, looking for an immediate market for their bullion, urged the government to buy silver and produce unlimited coins. But Congress rejected this proposal and omitted silver coins from the authorized legal tender list, leading to a massive protest.
The 1885 silver dollar with no mint mark is worth around $45 in very fine condition. In uncirculated condition the price is around $70 for coins with an MS 60 grade. In uncirculated condition the price is around $375 for coins with an MS 60 grade. The 1885 CC silver dollar is worth around $625 in very fine condition.
DMPL Morgan silver dollar
The Mint stopped making the silver dollar in 1904 when the stockpile decreased. A few light contact marks are present but they are barely noticeable. You can see Lady Liberty on the Morgan silver dollar obverse surrounded by the DATE and saying E PLURIBUS UNUM. Census / Population Reports only reflect the quantities and types of collectibles previously graded by the CCG Companies, and are not an indicator of value or rarity. 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 most pricey is the one in an MS 68 grade sold at Heritage Auctions in 2015 for $37,600. 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.
- 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.
- The Philadelphia mint struck an estimated 17,786,837 silver dollars in 1885, making this the highest mintage that year.
- Most surviving circulated examples are graded good to fine, but even these are worth good money.
- This melt value is calculated from the current silver spot price of $24.25 per ounce.
- Now add in the popularity of collecting silver dollars and collector demand, the result, many are worth far above silver value.
On the other hand, pieces in the mint state are expensive and cost $55 to $1,175, depending on the preservation level. 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. 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.
Morgan Silver Dollar
Morgans were the first dollars containing silver after the Bland-Allison Act from 1873 that allowed purchasing silver. Therefore, the US Mint could start minting new coins created by George T. Morgan’s design. Pieces struck in 1885 were in a group of early date series with a low mintage, making these beautiful pieces precious for collectors.
They typically cost $25 to $50, but top-notch pieces in the mint state can reach $200. The US Mint destroyed all error coins before releasing them into circulation as pieces that couldn’t meet technical requirements. Even though some collectors report a few errors, like obverse struck through, off-center, and micro-O error, the fact is that Morgan silver dollars typically came without imperfections.
As you compare your coin to the images, a close match of its condition becomes apparent. This process determines the “grade” and using the above chart identifies an https://www.dowjonesanalysis.com/ accurate value of your 1885 silver dollar. Any silver dollar showing signs of a past cleaning runs the risk of being avoided and ignored by discerning collectors.
All include value charts, alongside grading images to find the accurate value of your old dollars. Discovering rare mintmarks and high condition all contributes to 1885 Morgan silver dollar value. 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.
Very fine- About two thirds of Liberty’s hair lines from above her forehead her ear are visible.
Key to 1885 Morgan Silver Dollar Value is Judging Condition
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. By determining your 1885 dollar is in acceptable condition https://www.forex-world.net/ and with original surfaces identifies collector quality with solid interest. The top coin in the image remains bright silver as minted and never saw circulation. The 1885 Morgan silver dollars have value as both numismatic coins and as silver bullion.
Even those in the worst condition cost something, thanks to the silver content. 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. As a result of the late release, 1885-O silver dollars are widely available in high grade. Despite these coins being struck more than 130 years ago, circulated examples are still in good shape. Most surviving circulated examples are graded good to fine, but even these are worth good money.
Rare examples in mint state are worth slightly more, with an MS65 bringing as much as $2,900 and a gem-quality MS67 fetching as much as $62,500. 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 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.
The most expensive proof Morgan struck this year is the one in a PR 69 grade sold in 2011 at Goldberg Auctioneers for an unbelievable $92,000. 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.
You can be sure your coin is fake if you spot any other year on the obverse. The words UNITED STATES OF AMERICA occupy the upper half of the coin’s inner rim on the reverse while the denomination, ONE DOLLAR, appears along the rim at the bottom. The motto E PLURIBUS UNUM appears at the top around the coin’s rim while the date, 1885, is imprinted https://www.forexbox.info/ at the bottom. The school teacher Anna Willess Williams secretly posed for assistant chief engraver George Morgan for the coin’s design. 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.