1891 Morgan Silver Dollar
Much of the 1891 Morgan Silver Dollar coins and 1891-O Morgan Dollars were minted from reclaimed trade dollar bullion. The 1891 Morgan Dollar had many coins released during the Treasury Department payouts in the 1950s and 1960s. The 1891 Morgan Silver Dollar is believed to be one of the most common dates in the Morgan Dollar series. It was so prevalent that it was reported that every bank in Philadelphia must have had tons of them. Continue reading to learn more about 1891 Morgan Silver Dollar value.
AUCTION RECORD: $19,200 • MS66
Image source: PCGS
History of the 1891 Morgan Silver Dollar
The 1891 Morgan Silver Dollar is a plentiful coin in Mint State. Although there aren’t quite as many in circulated grades, it should still be relatively easy to find them. As is common with the Philadelphia Mint, the quality of the 1891 Morgan Silver Dollar varies widely. This coin is typically leaning towards a poorer flat strike, but it is possible to find an 1891 Morgan Dollar with an excellent strike. The luster typically ranges from average to below average, but it is possible to find a frosty, lustrous coin. Cherrypicking is definitely advised with the 1891 Morgan Silver Dollar.
1891 Morgan Silver Dollar Value
The 1891 Morgan Silver Dollar value ranges from the hundreds to tens of thousands of dollars. This coin is common and relatively easy to find in most grades, although slightly harder to find at both extremes of circulated and the highest grades. Although the 1891 Morgan Silver Dollar often has a poorer strike and below average luster, with some effort, you can find some brilliant, attractive pieces that would make a great addition to your Morgan Dollar series collection.
Type of coin: Silver Dollar
Year: 1891 Morgan Silver Dollar
Morgan Silver Dollar Mint Mark: Philadelphia
Total mintage: 8,693,556
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 1891 Morgan Silver Dollar value?
The Morgan Silver Dollar value, especially for the 1891 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 1891 Morgan Silver Dollar worth?
A typical 1891 Morgan Silver Dollar in circulated condition might be worth around $30 to $50. Uncirculated examples, depending on their grade, can fetch from $100 to several hundred dollars.
What is the value of an 1891-CC Morgan Silver Dollar?
The 1891-CC Morgan Silver Dollar, minted in Carson City, is particularly valuable due to its lower mintage and popularity among collectors. Its value can range from about $200 in lower grades to over $2,000 for higher uncirculated grades, with rare examples fetching even higher prices.
Are there any rare varieties of the 1891 Morgan Silver that significantly impact its value?
The 1891 Morgan Silver Dollar is known for a few varieties, including the 1891-CC "Spitting Eagle," characterized by a die defect that appears like a spit from the eagle's beak. This variety can command a premium over the standard 1891-CC Morgan Silver Dollar.
What is the highest grade and value achieved by an 1891 Morgan Silver Dollar?
The highest grades for an 1891 Morgan Silver Dollar can reach up to MS67, with values that can exceed several thousand dollars, especially for well-preserved examples with significant varieties or those minted in Carson City (CC).
How does the mint mark affect the 1891 Morgan Silver Dollar value?
The mint mark on an 1891 Morgan Silver Dollar significantly affects its value. The Carson City (CC) mint mark versions are often more valuable due to their historical significance and lower mintage numbers, compared to those from Philadelphia (no mint mark), New Orleans (O), or San Francisco (S).
Can the silver content of the 1891 Morgan Silver Dollar influence its value?
Yes, the silver content of the 1891 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 1891 Morgan Silver Dollar?
The best places to sell an 1891 Morgan Silver Dollar include reputable coin dealers, numismatic auctions, coin shows, and online platforms that specialize in coins. Authenticity and condition are key to achieving the best price.
What should collectors look for when purchasing an 1891 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 1891 Morgan Silver Dollar to preserve its value?
To preserve the value of your 1891 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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