1894 Morgan Silver Dollar
The 1894 Morgan Silver Dollar had a small total mintage of just 110,000 from the Philadelphia Mint. This coin was once considered a rarity, and very few were released into circulation. The 1894 Morgan Dollar was one of the lowest mintage of all the Morgan Dollars besides the 1893-S Morgan Silver Dollar. Due to the small amount of coins struck, this one is always a popular choice among Morgan Silver Dollar collectors. Continue reading to learn more about 1894 Morgan Silver Dollar Value.
AUCTION RECORD: $152,750 • MS66+
Image source: PCGS
History of the 1894 Morgan Silver Dollar
The 1894 Morgan Silver Dollar had most of its Mint State 1000-coin bags dispersed during the 1950s and 1960s releases, and most of them are no longer in mass quantity. The 1894 Morgan Silver Dollar is one of the rarest in circulated, worn grades and is very difficult to find, as so few were released into circulation. This coin is the second rarest for Philadelphia Mint struck Morgan Silver Dollars. The 1894 Morgan Dollar typically has an average to sharp strike and usually has an attractive and frosty luster. For those few coins that are below average strike, they tend to have a below average luster as well, so cherrypicking is advised if you come across one of these Morgan Dollars.
1894 Morgan Silver Dollar Value
The 1894 Morgan Silver Dollar value ranges to upwards of $150,000 or more. They are usually attractive, although there are exceptions, and it is worth taking the time to find a beautiful coin to add to your Morgan Dollar series collection. The 1894 Morgan Silver Dollar worth depends on what you are looking for. This is a very elusive coin with a low total mintage making it a popular one among collectors.
Type of coin: Silver Dollar
Year: 1894 Morgan Silver Dollar
Morgan Silver Dollar Mint Mark: Philadelphia
Total mintage: 110,000
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 1894 Morgan Silver Dollar value?
The Morgan Silver Dollar value, especially for the 1894 edition, is influenced by its mint mark, condition (or grade), rarity, and silver content. The 1894 Morgan Silver Dollar's value is particularly impacted by its extremely low mintage numbers, making it one of the rarest in the series.
How much is a typical 1894 Morgan Silver Dollar worth?
Even in lower grades, a typical 1894 Morgan Silver Dollar can be worth thousands of dollars due to its rarity. Prices increase significantly with better condition, with uncirculated examples fetching tens of thousands.
What is the value of an 1894-O Morgan Silver Dollar?
The 1894-O Morgan Silver Dollar, minted in New Orleans, is also rare but not as much as its Philadelphia counterpart. Its value can range from about $200 in lower grades to over $10,000 for higher uncirculated grades.
Are there any rare varieties of the 1894 Morgan Silver that significantly impact its value?
The 1894 Morgan Silver Dollar itself is considered rare due to its low mintage. There are no widely recognized varieties within the 1894 Morgan Silver Dollars that significantly impact value beyond the standard issues from Philadelphia and New Orleans.
What is the highest grade and value achieved by an 1894 Morgan Silver Dollar?
The highest grades for an 1894 Morgan Silver Dollar can reach MS65 or higher, with values that can exceed $100,000, especially for well-preserved examples from the Philadelphia mint, which are among the rarest.
How does the mint mark affect the 1894 Morgan Silver Dollar value?
For the 1894 Morgan Silver Dollar, the Philadelphia minted coins (with no mint mark) are significantly more valuable due to their incredibly low mintage. The "O" mint mark coins from New Orleans are also valuable but not to the same extent.
Can the silver content of the 1894 Morgan Silver Dollar influence its value?
While the silver content of the 1894 Morgan Silver Dollar, which is 90% silver, provides a base value, the numismatic value due to its rarity far exceeds the melt value for this particular year.
Where is the best place to sell an 1894 Morgan Silver Dollar?
The best places to sell an 1894 Morgan Silver Dollar include reputable coin dealers who specialize in rare coins, major numismatic auctions, and high-end coin shows. Given its value, ensuring the coin's authenticity and condition through professional grading is advisable before sale.
What should collectors look for when purchasing an 1894 Morgan Silver Dollar?
Collectors should look for the coin's authenticity, condition, and any signs of wear or damage. Given its rarity and value, purchasing an 1894 Morgan Silver Dollar that has been professionally graded and authenticated is highly recommended.
How should I store my 1894 Morgan Silver Dollar to preserve its value?
To preserve the value of your 1894 Morgan Silver Dollar, store it in a cool, dry place, ideally in a protective holder or capsule designed for coin storage to protect it from environmental damage, handling, and physical wear.
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