On average, 1885 Morgan silver dollars can cost as little as $17 or as much as $2000. Because these coins are over a century old, their value is largely determined by their condition. Furthermore, proof and error coins are typically more valuable, with auction records reaching $100,000.
US coin collecting is a fascinating hobby and a great place to start a collection that can grow over time. There are many reasons why someone would want to collect US coins. First of all, it is a great way to learn about American history by inspecting the coins and learning about the period they were minted.
If you enjoy coin collecting for investment purposes, it can also be a financially rewarding hobby. Over time, some rare coins and coins made of pricey metals like gold and silver have generated better returns than any other kind of investment. Others, however, don’t produce good results. Because of this, it’s crucial to evaluate the coin’s value before investing.
Morgan Silver Dollars are one of the collectors’ favourite coins. They are often referred to as the “investment dollar” because of their high value and metal purity.
In this article, we will determine the value of the 1885 silver dollar and teach you everything you need to know about this coin.
The History Behind Morgan Silver Dollars
The 1885 Morgan Silver Dollar is regarded as the series’ founding year. The mintage of these pieces from early dates was significantly smaller than that of coins from later dates
The Morgan silver dollar was made from 1878 to 1904 and then again in 1921. It was the first silver dollar ever produced after the Coinage Act of 1873, which prohibited the free coining of silver.
96 distinct date-and-mint combinations created more than 600 million Morgan dollars, and hundreds of millions were eventually destroyed. However, a large mass of Morgan dollars kept accumulating in Treasury warehouses as well as regional and centralised bank vaults.
What makes Morgan silver dollars so popular?
There are a number of reasons why Morgan Silver Dollars are so popular. First, silver is an attractive metal that has many practical uses. As such, it is widely viewed as an investment worth holding onto. Second, the design of Morgan Silver Dollars is unique. While other silver coins look similar to one another, Morgan Silver Dollars have a distinct look that sets them apart.
So who designed this beautiful coin?
George T. Morgan, an engraver at the US Mint, would then create the next silver dollar for the country. Young school teacher Anna Williams acted as the model for the Morgan silver dollar’s obverse Lady Liberty design. He changed her picture on the coin, making her look middle-aged. This upheld the tradition of having a mother, Lady Liberty, depicted on the nation’s coinage.
Interesting fact: LaVere Redfield was an unusual collector who passed away in the middle of the 1970s. Bags and bags of Morgans were discovered during the search of his home; some of them were even concealed between the walls and in the basement! These “Redfield Hoard” Morgans encouraged the pursuit of collecting Morgan Dollars even more.
A Description of the 1885 Morgan Silver Dollar
On the obverse, Liberty is seen in profile. She is surrounded by 13 stars, the words “E PLURIBUS UNUM,” and the date of issuance, and has a cap, flowers, and a crown on her head that says “LIBERTY.”
The reverse shows an eagle with extended wings holding an olive branch and arrows while standing next to a wreath. “UNITED STATES OF AMERICA,” “IN GOD WE TRUST,” and “ONE DOLLAR” are written on the reverse.
Morgan Dollars have a net weight of 0.77344 ounces of pure silver and 26.73 grams of 900 fine silver and 100 copper.
For more facts about the 1885 Morgan silver dollar, watch this video.
What is the Value of the 1885 Morgan Silver Dollar?
This coin has sentimental and historical value for every collector, hence its average price is always more than the silver content of the coin. It is important to understand the factors that affect the value of Morgan silver dollars.
Do Mint Marks Increase Silver Dollar Value?
The value of the coin might, and frequently does, depend on whether a mint mark is present. However, as every coin is unique, there is no established rule of thumb for this. In certain circumstances, the mint mark may raise the value, while in other circumstances, a no-mint-mark mistake may do so.
For coin collectors, the location of the coin’s minting might occasionally be the genuine reward. In 1885, 17,787,767 coins were minted. There were five U.S. Mints that made Morgan silver dollars, and you can tell which one it was by looking at the mint mark on the coin:
- The San Francisco Mint is identified by the “S” mint mark.
- The New Orleans Mint is distinguished by an “O” mint mark.
- The Philadelphia Mint does not display a mint mark.
- the “CC” mint mark of the Carson City Mint
The mint mark for Morgan silver dollars is located at the bottom centre of the coin, beneath the wreath and just above the letters “D” and “O” in “Dollar.”
The Importance of the Grading System While Determining the Value of Morgan Dollars
Coins are graded according to the grading system, which can be: uncirculated, extremely fine, fine, or good. The price of a coin depends on the quality of its condition. When buying coins, it is important to consider the grading system of coins.
One type of coin that you should be aware of is the extremely fine grade. This coin usually commands a higher price than other grades because it is in better condition than most coins. Also, if a coin is extremely fine, it will have a unique appeal. Another valuable grade is “uncirculated.” A silver dollar that is considered “uncirculated” has never been used in trade. Your coin should still seem brand new, with no evidence of wear. The hair at Liberty’s temple and coronet is typically where any worn metal first becomes visible in Morgan silver dollars.
However, if you are not an experienced collector and do not know how to determine an extremely fine grade, then it may be difficult for you to make an informed decision about purchasing such a coin.
In a nutshell, the appearance of your 1885 silver dollar can be affected by wear and tear, especially when it comes to scratches, stains, and dents. Dents can reduce a coin’s overall appeal and make it less appealing to collectors. Likewise, a heavily worn 1885 silver dollar will generally be worth less than one that remains in nearly pristine condition.
This comparison table will help you comprehend the significance of grades.
1885 Morgan Silver Dollar Value Chart
The Value of Proof 1885 Morgan Silver Coins
Proof coins are unique coins that represent a limited amount of precious metal. The first proof coins were produced in the United States in the early 1900s to prove the legitimacy of American coinage. Today, numismatists use proof coins as a gauge of quality and condition.
Proof coins are often more valuable than regular issue coins because there is always some variation between them and their base or circulation issues. The main reason for this is that proof coins are meant to be perfect examples of their corresponding types. Since each proof coin is minted in a small quantity, it will have less variation than its base or circulation issues. Therefore, if you have a scarce proof coin, you can be sure that it is an exceptional specimen that has not been tampered with.
For instance, this proof coin holds an auction record of $92,000.
Another example is this coin that holds a record of $100,625.
Other pricey 1885 Morgan Silver Dollar coins.
In addition to proof coins, there are some varieties that can be expensive and extremely rare. See the table below:
Watch this video to see more valuable coins.
Morgan’s Error Coins
Error coins are rare, valuable, and interesting. Basically, they’re coins that were struck during a design or production error.
The value of these rare coins depends on their condition and rarity. If there are multiple examples of an error coin, its value increases because it’s more likely that it’s a complete set. As the number of known examples increases, so does the amount of interest in that coin type.
In addition to being valuable, error coins are fun to collect because you can see something unexpected on each one you own.
For instance, this silver dollar with a mint error is selling for $750 on eBay
In light of this, if you happen to have a 1885 that has some kind of mistake, keep it and don’t throw it away!
Commonly Asked Questions
What are silver dollars?
Silver dollars have been produced by the US Mint since 1794. They have been used as currency in the United States since 1792. Silver dollars are also known as American silver dollars, silver coins, and silver dollars. There are four types of silver dollars: the Barber coin (half dollar), the Standing Liberty coin (quarter dollar), the Morgan coin (dollar), and the Peace coin (dime). The face value (the price of the coin) of silver dollars is one dollar.
Is it worth it to invest in the 1885 silver dollar?
Silver dollars are one of the most valuable US coins to invest in, but it’s important to do your research before making any purchase. With any investment, you should always be prepared for the possibility of losing money. The value of 1885 Morgan Silver Dollars can fluctuate over time, so it’s important to keep track of changes. In addition to value, there are other factors to consider when investing in 1885 Morgan Silver Dollars. These include the condition of the coin, where it was minted and how much wear and tear it has incurred over the years. You should also know what makes a good investment before investing in 1885 Morgan Silver Dollars. This will help you figure out if an investment is worth your time and money.
Where to sell if you happen to have 1885 Morgan dollars?
Because they are relatively scarce and in demand, those interested in selling their 1885 Morgans can turn to online coin dealers like eBay. Some collectors have even paid hundreds of dollars for a single coin! So if you have an 1885 silver dollar, don’t hesitate to sell it now so you can enjoy the monetary benefits later on.
Where to get the 1885 Morgan Silver Dollar?
There are two main ways to get your 1885 Morgan silver dollar: through a coin dealer or in your change. The most common way to acquire an 1885 Morgan silver dollar is through a coin dealer. However, this method is not without its risks. While there are many reputable dealers in the coin market, there are also scammers who will try to take advantage of you. The best way to ensure that you are purchasing from a reliable source is to use online resources such as eBay or Numisbids. This will help protect you from fraudulent dealers who may try to sell you fake coins. Once you receive your coins in the mail, be sure to store them properly and avoid handling them too often.
1885 Morgan Silver Dollar Overview
The Morgan Silver Dollar is one of the popular coins you can collect as you advance in your collecting hobby.You will need to determine the grade of Morgan silver dollars first, as these coins are more than a century old, which makes them hard to assess. However, their rarity means their value is high, so if you do own one or want to buy one to resell, consider yourself a winner. The coin has a beautiful design and 0,7 ounces of silver.