Value of 1885 Morgan Dollar Rare Silver Dollar Buyers

This highly collectible coin can be a good investment whether you want to sell or buy a piece. If you are still unsure about the price of your coins, you can appraise and sell your coins for free through our verified platform. 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 mobile app developer job description Coin Auctions in 2015 for an incredible $39,950. 96 distinct date-and-mint combinations created more than 600 million Morgan dollars, and hundreds of millions were eventually destroyed.

• 228,000 Morgan silver dollars were minted in Carson City in 1885, making them valuable on the current coin market.
• The Morgan dollar is made of 90% silver and 10% copper, making it innately valuable today, even in circulated conditions.
• Despite these coins being struck more than 130 years ago, circulated examples are still in good shape.
• Therefore, you can expect these coins to be less expensive than the 1885 S Morgan silver dollar or the 1885 CC Morgan silver dollar.
• An 1885 O Morgan silver dollar is valued at anywhere from $30 to $60, depending on its condition.

On the front of the Morgan silver dollar, you’ll see Lady Liberty, the year, and the inscription “E PLURIBUS UNUM”, and each of the first 13 states is represented with a star. Those available in the $21,000-$26,000 range are very uncommon and of excellent quality. The highest-graded example was an MS 68 that fetched $37,600 during Heritage Auctions in 2015. In addition to being valuable, error coins are fun to collect because you can see something unexpected on each one you own. The value of the coin might, and frequently does, depend on whether a mint mark is present. However, as every coin is unique, there is no established rule of thumb for this.

How to Determine The 1885 Morgan Silver Dollar Value?

We will explore the worth of each variety and discover errors that can increase your coin’s value by hundreds or thousands of dollars. An 1885 O Morgan silver dollar is valued at anywhere from $30 to $60, depending on its condition. However, pieces in immaculate condition are somewhat pricey, ranging from $55 to $1,175, depending on the preservation quality. Proof coins are often more valuable than regular issue coins because there is always some variation between them and their base or circulation issues. The main reason for this is that proof coins are meant to be perfect examples of their corresponding types. Since each proof coin is minted in a small quantity, it will have less variation than its base or circulation issues.

Collecting Strategies and Investment Potential

Nowadays, the 1885 silver dollar value is high due to the limited number on the market. Morgan dollars were issued by the United States Mint solely between 1878 and 1904, then again in 1921. If the year on the front of your coin doesn’t match that of the year it was minted, you can be sure it’s a fake. In this article, we will determine the value of the 1885 silver dollar and teach you everything you need to know about this coin.

proof silver dollar Value

Furthermore, proof and error coins are typically more valuable, with auction records reaching $100,000. You can expect to pay a hefty amount for the 1885 O Morgan silver dollar if they have a high grade. Those in mint condition are highly priced and can cost from $180 to 26,500, which also depends on their state and wear. And when your 1885 O silver dollar is in almost perfect condition with gorgeous eye appeal and limited contact marks, you can be sure to get good money from it.

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. 228,000 Morgan silver dollars were minted in Carson City in 1885, making them valuable on the current coin market.

Lady Liberty faces left with “E pluribus unum” above her and the date underneath, separated by stars. The planning for the Morgan silver dollar first sprang into action in 1877. Mint Director, held a competition between Chief Engraver William Barber and his assistant George T. Morgan to see whose design would be a better fit for the new dollar coin. A few light contact marks are present but they are barely noticeable. The coin has luster, but there may be a few stains, abrasions, or surface marks. With a mintage of only 228,000, the 1855-CC silver dollar is considered the rarest Morgan after the 1903-O silver dollar.

Key to 1885 Morgan Silver Dollar Value is Judging Condition

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. 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. hycm review 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.

Back in the 1800s, the mintage for coins was always way lower than they are today because silver was limited in the country’s reserves. However, the Carson City production of the 1885 Morgan silver dollars was insanely low even for its time. In the near-perfect coin grades of MS67 and MS68, these silver dollars can go up to $1,950 and $8,500, respectively. LaVere Redfield, a reclusive millionaire from Reno, Nevada, accumulated over 400,000 silver dollars during his lifetime. After his death in 1974, his hoard was discovered, which included many 1885 Morgan dollars from all four mints.

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 $33.59 per ounce. It‘s important to note that grading is a subjective process, and even experienced collectors and graders may have slightly different opinions on a coin‘s grade. Factors such as toning, strike sharpness, and eye appeal can also influence a coin‘s perceived value within a given grade. Discovering rare mintmarks and high condition all contributes to 1885 Morgan silver dollar value.

• With 17,787,000 produced Morgan silver dollars, Philadelphia had the highest mintage in 1885.
• Very fine- About two thirds of Liberty’s hair lines from above her forehead her ear are visible.
• But one of Morgan’s biggest achievements—by which people remember him most—is the Morgan silver dollar, which ran from 1878 to 1921.
• On the other hand, you might be faced with a fake 1885 Morgan silver dollar because there are many in circulation.
• This 1885 silver dollar is found in several varieties, including the O Morgan dollar and the non-Mint mark Morgan dollar.

Coins from U.S. mints that make the lowest number of coins per issue usually become the most expensive as time goes on. This is because scarcer coins are rarer, and therefore more valuable. One way to assess your 1885 silver dollar’s coin grading is to check on the highest points of the coin for wear and smoothness. On the reverse, it’s on the ribbon tying some of the branches together. The coin’s mint mark is seen right below these tied branches as what is price action in forex well. The result of this collaboration was the iconic obverse of the Morgan silver dollar.

New Orleans Mint (O)

Here are some mint errors on the 1885 silver dollars that might pique your interest. Meanwhile, in the New Orleans Mint, 9 million silver dollars were made in 1885. What’s strange is that many of these coins weren’t put into circulation that year or even that century.

For example, a San Francisco coin at MS65 would be valued at $1,750—$500 more than the Carson City equivalent at $1,250. The prices of the New Orleans-minted 1885 dollars are most similar to their Philadelphia counterparts. In circulated condition, you could sell any of these coins with an “O” mint mark for $33.50 to $62. So, it’s quite easy to collect these coins even in higher gem grades. But even if they’re relatively common, they’re still worth a pretty penny if put up for auction today.

The Morgan dollar is made of 90% silver and 10% copper, making it innately valuable today, even in circulated conditions. This is apparent in the Philadelphia coins, even if they’re not so scarce. Proof coins with no mint mark are available and they are each valued at around $3,750 in PR 63 condition.