The Morgan Silver Dollar is one of the most iconic and highly sought-after coins in the world of numismatics. Produced from 1878 to 1904, and then again in 1921, this coin has captivated collectors and investors alike with its beauty, rarity, and historical significance. In this article, we will delve into the 1885 Morgan Silver Dollar coin value and price guide, exploring its history, mintage, and factors that affect its value.
History of the Morgan Silver Dollar
The Morgan Silver Dollar was designed by George T. Morgan, an assistant engraver at the Philadelphia Mint. Its creation was a response to the Bland-Allison Act of 1878, which mandated the coining of a certain amount of silver into dollars each month. The coin was initially produced from 1878 to 1904, with a total mintage of over 657 million coins.
The 1885 Morgan Silver Dollar was produced in three different mints: Philadelphia, New Orleans, and San Francisco. The Philadelphia mint produced 17,787,000 coins, the New Orleans mint produced 9,185,000 coins, and the San Francisco mint produced 1,497,000 coins.
Design and Features
The Morgan Silver Dollar features a stunning design, with Lady Liberty on the obverse (front) side and an eagle on the reverse (back) side. The coin is made of 90% silver and 10% copper, with a diameter of 38.1 mm and a weight of 26.73 grams.
The 1885 Morgan Silver Dollar has several distinctive features, including:
- The "S" mint mark on coins produced in San Francisco
- The "O" mint mark on coins produced in New Orleans
- The absence of a mint mark on coins produced in Philadelphia
- A slightly different reverse design, with the eagle's tail feathers more rounded than in later years
Mintage and Rarity
The 1885 Morgan Silver Dollar has a relatively high mintage compared to other coins in the series. However, its rarity is still significant, especially in high grades.
According to the Professional Coin Grading Service (PCGS), the 1885 Morgan Silver Dollar has a mintage of:
- 17,787,000 (Philadelphia)
- 9,185,000 (New Orleans)
- 1,497,000 (San Francisco)
The rarity of the 1885 Morgan Silver Dollar is affected by several factors, including:
- Condition: Coins in high grades (MS65 and above) are much rarer than those in lower grades.
- Mint mark: Coins with the "S" or "O" mint mark are more rare than those without a mint mark.
- Provenance: Coins with documented provenance, such as those that have been certified by PCGS or the Numismatic Guaranty Corporation (NGC), are more valuable than those without.
Grading and Certification
Grading and certification are crucial in determining the value of the 1885 Morgan Silver Dollar. The two leading coin grading services, PCGS and NGC, use a 70-point grading scale to evaluate coins based on their condition, rarity, and eye appeal.
Coins that have been certified by PCGS or NGC are considered more valuable than those that have not been certified. Certification provides a third-party guarantee of the coin's authenticity and condition, which can increase its value.
Value and Price Guide
The value of the 1885 Morgan Silver Dollar depends on several factors, including its condition, rarity, and demand. Here is a price guide for the 1885 Morgan Silver Dollar in different grades:
- Good (G4): $20-$50
- Very Good (VG8): $30-$70
- Fine (F12): $50-$100
- Very Fine (VF20): $70-$150
- Extremely Fine (EF40): $100-$250
- About Uncirculated (AU50): $150-$300
- Uncirculated (MS60): $250-$500
- Uncirculated (MS65): $500-$1,000
- Uncirculated (MS70): $1,000-$2,500
Note: These prices are estimates and may vary depending on the specific coin, its provenance, and market conditions.
Auction Results
Auction results can provide valuable insights into the value of the 1885 Morgan Silver Dollar. Here are some recent auction results for high-grade 1885 Morgan Silver Dollars:
- MS65: $1,200 (Heritage Auctions, 2020)
- MS66: $2,500 (Stack's Bowers, 2019)
- MS67: $5,000 (NGC, 2018)
- MS68: $10,000 (PCGS, 2017)
Collectibility and Investment
The 1885 Morgan Silver Dollar is a highly collectible coin, sought after by numismatists and investors alike. Its historical significance, beauty, and rarity make it a valuable addition to any coin collection.
As an investment, the 1885 Morgan Silver Dollar can be a wise choice. Its value tends to appreciate over time, making it a good option for those looking to diversify their investment portfolio.
However, it's essential to keep in mind that the value of the 1885 Morgan Silver Dollar can fluctuate depending on market conditions and demand. As with any investment, it's crucial to do your research and consult with a financial advisor before making a decision.
Gallery of 1885 Morgan Silver Dollar
Frequently Asked Questions
What is the mintage of the 1885 Morgan Silver Dollar?
+The mintage of the 1885 Morgan Silver Dollar is 17,787,000 (Philadelphia), 9,185,000 (New Orleans), and 1,497,000 (San Francisco).
What is the value of the 1885 Morgan Silver Dollar?
+The value of the 1885 Morgan Silver Dollar depends on its condition, rarity, and demand. Prices can range from $20 to $2,500 or more, depending on the grade and provenance.
Is the 1885 Morgan Silver Dollar a good investment?
+The 1885 Morgan Silver Dollar can be a wise investment, as its value tends to appreciate over time. However, it's essential to do your research and consult with a financial advisor before making a decision.
In conclusion, the 1885 Morgan Silver Dollar is a highly collectible and valuable coin, sought after by numismatists and investors alike. Its historical significance, beauty, and rarity make it a valuable addition to any coin collection. Whether you're a seasoned collector or just starting out, the 1885 Morgan Silver Dollar is definitely worth considering.