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. In the 1940s and 1950s, Texas casino owner Ted Binion amassed a massive collection of silver dollars, including many 1885 Morgans.
- The reverse of the Morgan Dollar has an eagle in the center with its wings spread and a wreath surrounding.
- The value of the coin might, and frequently does, depend on whether a mint mark is present.
- Mint system, Philadelphia was known for its consistent quality and high output.
- Please check our grading guides to know your coin scale, It’s the necessary step to know the exact value of your coin.
- Interestingly, most of these coins were not released into circulation and remained in the Treasury stockpile until the 1960s, when the remaining examples were released en masse.
The Value of a 1885-CC Morgan Dollar
A few light contact marks are present but they are barely noticeable. This coin in circulated condition is worth at least its weight in silver. This melt value is calculated from the current silver spot price of $32.16 per ounce.
The Value of Proof 1885 Morgan Silver Coins
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. 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.
These coins are gorgeous, solid, and, more importantly, contain 90% silver, a high-demand precious metal. While pieces in an MS 67 grade minted in other mints cost several thousand dollars, the price of those with the S mint mark is estimated at $45,000 to $54,000. The survived 1885 Morgan silver dollars of 9,185,000 produced in New Orleans typically cost $30 to $60, depending on the degree of wear. On the other hand, pieces in the mint state are expensive and cost $55 to $1,175, depending on the preservation level. Morgan silver dollars, including those struck in 1885, have the reputation of being perfectly struck.
Morgan Silver Dollar Coin Value (Errors List, “CC”, “O”, “S” & No Mint Mark Worth)
Values for these proof coins range from $1,375 to $37,500, but cameo and deep cameo examples can fetch as much as $60,000 and $80,000, respectively. Since the Carson City mint produced 228,000 Morgan silver dollars in 1885, surviving pieces in the mint state are rare. The most valuable are scarce deep mirror proof-like specimens worth an impressive $75,000 to $90,000. The influx of coins led the 1885-CC Morgan dollar to be treated as scarce, rather than rare. The heavy bagmarks on most of the coins did not help their popularity. The last 1885-CC Morgans were sold in the GSA Morgan dollar sale of 1980.
The Mint coinmama exchange review stopped making the silver dollar in 1904 when the stockpile decreased. Influential silver miners, looking for an immediate market for their bullion, urged the government to buy silver and produce unlimited coins. But Congress rejected this proposal and omitted silver coins from the authorized legal tender list, leading to a massive protest. You can see Lady Liberty on the Morgan silver dollar obverse surrounded by the DATE and saying E PLURIBUS UNUM.
Morgan Silver Dollars for Sale
After his death in 1974, his hoard was discovered, which included many 1885 Morgan dollars from all four mints. The dispersal of the Redfield Hoard through auctions in the 1970s and 1980s had a significant impact on the market for these coins. One of the most critical factors in determining the value of an 1885 Morgan silver dollar is its condition, as assessed by the coin grading scale. This scale, which ranges from Poor (P-1) to Perfect Uncirculated (MS-70), takes into account factors such as wear, luster, strikes, and overall eye appeal. Because of their popularity, Morgan silver dollars are prone to countgerfeiting. You can look for some things to ensure your 1885 silver dollar is real.
PL Morgan silver dollar value
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 coin has sentimental and historical value for every collector, hence its average price is always more https://www.forex-reviews.org/ than the silver content of the coin.
- This is regrettable, since most of them have sharp strikes very good luster.
- The information on this page does not constitute an offer to buy or sell the coin(s) referred to.
- 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.
- 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.
- Preserve your 1885 Morgan silver dollar value, by careful handling and storage.
In uncirculated condition the price Best forex trading platform is around $375 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $2,000. The 1885 O silver dollar is worth around $48 in very fine condition. The 1885 CC silver dollar is worth around $625 in very fine condition. In uncirculated condition the price is around $775 for coins with an MS 60 grade.
As such, there aren’t many Morgan silver dollar errors in circulation. In circulated condition, expect between $37 and $325 for your 1885-S Morgan silver dollar, depending on the grade. Rare examples in mint state are worth slightly more, with an MS65 bringing as much as $2,150 and a gem-quality MS67 fetching as much as $60,000.