Very fine- About two thirds of Liberty’s hair lines from above her forehead her ear are visible. Minting year – The US Mint produced Morgans fxcm broker review only during the period from 1878 to 1904 and later in 1921. You can be sure your coin is fake if you spot any other year on the obverse.
- In 1889, the Treasury Department reversed course, and coinage resumed.
- In the rare coin market, slabbed and graded coins command the strongest premiums when it comes time to sell.
- There is often fierce bidding to add one of these prized rarities to a collection.
- As we can see, an 1885 Trade dollar in top condition (PR65 or higher) can realistically sell for over $1 million at auction currently.
The 1885 Morgan silver dollar had a somewhat low original mintage, so authentic specimens with good eye appeal tend to command significant premiums over melt value. If a dealer offers too good of a price on 1885, that can raise red flags broker finexo regarding its authenticity. In the early 1880s, large amounts of silver were still being mined while global silver prices dropped. This led Congress to later amend the Bland-Allison Act’s provisions for buying American-mined silver.
Other Years From This Coin Series:
Proof coins with no mint mark are available and they are each valued at around $3,750 in PR 63 condition. The US minted the 1885 silver dollar with no mint mark and also the 1885 CC silver dollar, 1885 O silver dollar, and 1885 S silver dollar. The mint mark, when present, can be found on the reverse side of the coin below the wreath.
Where to Sell Your 1885 Silver dollar ?
High-grade versions sometimes sell for over $100,000 at major auction houses like Heritage Auctions and Stack’s Bowers Galleries. Besides coins from the regular strike, the Philadelphia mint produced 930 Morgan silver dollar proofs in 1885. Their price goes from $1,000 to $15,000 on the coin market, but rare pieces in PR 67 grade with cameo contrast are worth up to $25,000. That year, only 903 proof silver dollars were struck, making examples extremely rare and valuable. Values for these proof coins range from $1,250 to $40,000, but cameo and deep cameo examples can fetch as much as $51,000 and $75,000, respectively. With so many mint state coins readily available, collectors typically focus on the scarce circulated grades, such as the 1885-CC and 1885 Proof silver dollars.
Any silver dollar showing signs of a past cleaning runs the risk of being avoided and ignored by discerning collectors. Once cleaned, Morgan dollars lose approval to a large segment of potential collectors. It is a very nice 1885 silver dollar, lively and eye appealing, not the washed out look of a cleaned and processed coin. By determining your 1885 dollar is in acceptable condition and with original surfaces identifies collector quality with solid interest. The top coin in the image remains bright silver as minted and never saw circulation.
Even those in the worst condition cost something, thanks to the silver content. Morgans were the first dollars containing silver after the Bland-Allison Act from 1873 that allowed purchasing silver. Therefore, the beaxy exchange review US Mint could start minting new coins created by George T. Morgan’s design. Pieces struck in 1885 were in a group of early date series with a low mintage, making these beautiful pieces precious for collectors.
Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons. Examples in mint states will fetch more, with one graded MS65 bringing as much as $1,400, while an MS68 specimen is worth up to $130,000. This highly collectible coin can be a good investment whether you want to sell or buy a piece. You will also notice the mint marks CC( Carlson City), O (New Orlean), and S (San Francisco) just above the D in DOLLAR on the reverse. With an eye for exceptional pieces, James curates the shop’s selection of one-of-a-kind home decor, jewelry, glassware, toys, and other nostalgic American collectibles.
Morgan Silver Dollar Value
At the suggestion of his friend, Morgan used Anna Willess Williams, a teacher of Philosophy, as the model on the coin’s obverse. Rusty Goe, in his exceptional reference The Confident Carson City Coin Collector, estimates that of the total mintage of 228,000 coins, between 155,000 and 168,000 survive, nearly all in Mint State. Some coins were released in the 1950s, but the 1885-CC was a tough date before the GSA Sales. MS 65 Uncirculated condition- There is strong luster and eye appeal. 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.
Their intrinsic value lies in their silver content, making them desirable among collectors. The Philadelphia mint struck an estimated 17,786,837 silver dollars in 1885, making this the highest mintage that year. As is tradition, the coins from this mint did not have a mint mark. Many rare and valuable dates and mintmark combinations are found throughout the entire 1878 through 1921 history of Morgan silver dollars. With a minimum value of $22.98 and rising from there, accurately determine how much your rare silver coins are worth.
The New Orleans mint struck an estimated 9 million silver dollars in 1885. In 2011, Goldenberg Auctioneers sold what is believed to be the most expensive 1885 proof silver dollar. This specimen was graded PF69 and was auctioned for an astonishing $92,000.
PL Morgan silver dollar value
It required the U.S. government to purchase between $2 million and $4 million worth of silver bullion each month to be minted into silver dollars (U.S. Mint). Due to the high demand to produce millions of silver dollars, the Treasury engaged the mints in Philadelphia, San Francisco, Carson City, and New Orleans to strike the new Morgan silver dollars. The degree of wear (hopefully none at all) is a little hard to gauge but is one step that needs attention. Following the lead of collectors, examine the condition of your 1885 dollar closely. As you compare your coin to the images, a close match of its condition becomes apparent. This process determines the “grade” and using the above chart identifies an accurate value of your 1885 silver dollar.