1897 Morgan Silver Dollar
The 1897 Morgan Silver Dollar was minted at the Philadelphia Mint. It was once considered a rarity as very few of these coins were released into circulation. By the 1950s, many of these coins were released and they became much more common. It is believed that hundreds more bags came out during the big Treasury Department release from 1962 to 1964. Continue reading to learn about 1897 Morgan Silver Dollar Value.
AUCTION RECORD: $24,675 • MS67+
Image Source: PCGS
History of the 1897 Morgan Silver Dollar
The 1897 Morgan Silver Dollar has many accounts where collectors were unable to locate a single circulated coin. They are much harder to come by than their uncirculated counterparts. Today, the circulated 1897 Morgan Dollar is relatively easy to find, but it can be difficult to find a well-worn piece. The 1897 Morgan Silver Dollar is known for the majority having a good strike, and a slightly above average luster, making this an attractive coin for collectors. Some of the coins in lower grades are known to have a more gray or greasy look to their surfaces, so it’s worth taking the time to find a well-struck and lustrous coin.
1897 Morgan Silver Dollar Value
The 1897 Morgan Silver Dollar value ranges from under a hundred dollars to upwards of the low tens of thousands. This coin is an attractive one for a Morgan Dollar series collection, and is relatively easy to find in circulated and uncirculated grades. They are typically well struck, and even though it is believed that over a million were melted down as a provision of the 1918 Pittman Act, they are still common to find.
Type of coin: Silver Dollar
Year: 1897 Morgan Silver Dollar
Morgan Silver Dollar Mint Mark: Philadelphia
Total mintage: 2,822,000
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 1897 Morgan Silver Dollar value?
The Morgan Silver Dollar value, especially for the 1897 edition, is determined 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 1897 Morgan Silver Dollar worth?
A typical 1897 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 1897-O Morgan Silver Dollar?
The 1897-O Morgan Silver Dollar, minted in New Orleans, can vary in value from about $30 in lower grades to over $1,000 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 1897 Morgan Silver that significantly impact its value?
While the 1897 Morgan Silver Dollar is not known for particularly rare varieties, the overall condition and mint mark (e.g., "O" for New Orleans, "S" for San Francisco, or no mint mark for Philadelphia) can affect its value. The "O" mint mark versions are generally more valuable.
What is the highest grade and value achieved by an 1897 Morgan Silver Dollar?
The highest grades for an 1897 Morgan Silver Dollar can reach up to MS67, with values that can exceed several thousand dollars, especially for well-preserved examples with significant eye appeal.
How does the mint mark affect the 1897 Morgan Silver Dollar value?
The mint mark on an 1897 Morgan Silver Dollar significantly affects its value. Coins minted in New Orleans (O) and San Francisco (S) are often more valuable than those from Philadelphia (no mint mark), with variations depending on condition and rarity.
Can the silver content of the 1897 Morgan Silver Dollar influence its value?
Yes, the silver content of the 1897 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 1897 Morgan Silver Dollar?
The best places to sell an 1897 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 1897 Morgan Silver Dollar?
Collectors should examine the coin's condition, mint mark, any notable varieties, and overall eye appeal. Purchasing coins that have been professionally graded can also offer assurance regarding the coin's authenticity and condition.
How should I store my 1897 Morgan Silver Dollar to preserve its value?
To preserve the value of your 1897 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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