1889 Morgan Silver Dollar
The 1889 Morgan Silver Dollar had a massive total mintage of over 21 million at the Philadelphia Mint. These coins are common and relatively easy to find among all grades. The higher the grade, the more valuable the 1889 Morgan Dollar is, of course, with this particular coin becoming rare at higher grades. The Morgan Silver Dollar was designed by George T. Morgan who worked at the United States Mint. Continue reading to learn more about 1889 Morgan Silver Dollar Value.
AUCTION RECORD: $25,300 • MS68
Image source: PCGS
History of the 1889 Morgan Silver Dollar
The 1889 Morgan Silver Dollar was one of the highest total mintage for the earlier Morgan Silver Dollars from 1878 to 1904. It is also believed that millions of these coins were most likely melted down as a provision of the 1918 Pittman Act and the 1942 Silver Act. So even with its high production, this coin isn’t as common as one would think. It can be difficult to find a well-struck and frosty 1889 Morgan Silver Dollar, but is worth the effort of cherrypicking to find that perfect coin for your Morgan Dollar series collection. Many of the 1889 Morgan Dollars had a weak strike and were lackluster, but it is possible to find attractive specimens.
1889 Morgan Silver Dollar Value
The 1889 Morgan Silver Dollar value ranges based on the grade of the coin. As with many coins, the higher the grade, the higher the cost. Finding a Mint State uncirculated 1889 Morgan Silver Dollar is possible, and sometimes can be found for as little as fifty dollars. The 1889 Morgan Silver Dollar price ranges from under a hundred to upwards of the low tens of thousands. If you’re willing to spend the time searching for that well-struck, frosty coin, you will have a great addition to your collection on your hands.
Type of coin: Silver Dollar
Year: 1889 Morgan Silver Dollar
Morgan Silver Dollar Mint Mark: Philadelphia
Total mintage: 21,726,000
Metal content: 90% Silver, 10% Copper
Face value: One dollar
Weight: 27.20 grams
Edge: Reeded
Designer: George T. Morgan
Diameter: 38.10 millimeters
FAQ
What factors influence the 1889 Morgan Silver Dollar value?
The Morgan Silver Dollar value, especially for the 1889 edition, is influenced by its mint mark, condition (or grade), rarity, and silver content. Special varieties and recognized errors can also significantly impact its value.
How much is a typical 1889 Morgan Silver Dollar worth?
A typical 1889 Morgan Silver Dollar in circulated condition might be worth around $25 to $50. Uncirculated examples, depending on their grade, can fetch from $50 to several hundred dollars.
What is the value of an 1889-O Morgan Silver Dollar?
The 1889-O Morgan Silver Dollar, minted in New Orleans, can vary in value from about $30 in lower grades to over $200 for higher uncirculated grades. The value increases significantly for coins in MS65 condition or higher due to their rarity.
Are there any rare varieties of the 1889 Morgan Silver that significantly impact its value?
While the 1889 Morgan Silver Dollar itself is not known for particularly rare varieties, the mint mark (e.g., "O" for New Orleans, "CC" for Carson City, "S" for San Francisco) can affect its value. The "CC" mint mark, in particular, is highly sought after by collectors due to the Carson City Mint's historical significance.
What is the highest grade and value achieved by an 1889 Morgan Silver Dollar?
The highest grades for an 1889 Morgan Silver Dollar can reach up to MS67, with values that can exceed several thousand dollars, especially for coins with exceptional eye appeal and those with significant varieties.
How does the mint mark affect the 1889 Morgan Silver Dollar value?
The mint mark on an 1889 Morgan Silver Dollar significantly affects its value. Coins minted in Carson City (CC) are often more valuable due to their lower mintage numbers and popularity among collectors, compared to those from Philadelphia (no mint mark), New Orleans (O), or San Francisco (S).
Can the silver content of the 1889 Morgan Silver Dollar influence its value?
Yes, the silver content of the 1889 Morgan Silver Dollar, which is 90% silver, provides a base value tied to the current silver bullion market. However, the numismatic value for collectors often exceeds the melt value.
Where is the best place to sell an 1889 Morgan Silver Dollar?
The best places to sell an 1889 Morgan Silver Dollar include reputable coin dealers, numismatic auctions, coin shows, and online platforms that specialize in coins. Ensuring the coin's authenticity and condition can help achieve the best price.
What should collectors look for when purchasing an 1889 Morgan Silver Dollar?
Collectors should look for the coin's overall condition, mint mark, any notable varieties, and signs of original luster. Purchasing graded coins from reputable grading services can also provide assurance of the coin's authenticity and condition.
How should I store my 1889 Morgan Silver Dollar to preserve its value?
To preserve the value of your 1889 Morgan Silver Dollar, store it in a cool, dry place, ideally in a protective holder or capsule designed for coin storage. This protects the coin from environmental damage and physical wear.
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