The Morgan Silver Dollar, minted from 1878 to 1904 and then again in 1921, is one of the most iconic and sought-after coins in American numismatics. Among the various dates and mint marks of the Morgan Dollar series, the 1885 Morgan Silver Dollar holds a special place for collectors and historians alike. In this guide, we will delve into the history of the 1885 Morgan Silver Dollar, its characteristics, and most importantly, its value.
The History of the Morgan Silver Dollar
The Morgan Silver Dollar was minted to replenish the circulating supply of silver dollars, which had been depleted during the Civil War. The coin was named after its designer, George T. Morgan, who worked at the Philadelphia Mint. The Morgan Dollar was a product of the Bland-Allison Act of 1878, which mandated the purchase of silver and the striking of silver dollars.
The 1885 Morgan Silver Dollar
The 1885 Morgan Silver Dollar is notable for being one of the coins in the series with a relatively high mintage. Approximately 17.8 million coins were produced across three mints: Philadelphia, New Orleans, and San Francisco. The coin features Morgan's iconic design, with Lady Liberty on the obverse (front) and an eagle on the reverse (back).
Characteristics of the 1885 Morgan Silver Dollar
- Metal Composition: 90% Silver, 10% Copper
- Weight: 26.73 grams
- Diameter: 38.1 mm
- Mint Marks: S (San Francisco), O (New Orleans), None (Philadelphia)
- Edge: Reeded
Grading the 1885 Morgan Silver Dollar
The value of the 1885 Morgan Silver Dollar largely depends on its condition, which is determined by grading. The Sheldon scale, ranging from 1 to 70, is commonly used for grading coins. Higher grades indicate better preservation of the coin's original mint state, with MS70 being perfect.
Value Guide for the 1885 Morgan Silver Dollar
The value of the 1885 Morgan Silver Dollar varies widely based on its condition, mint mark, and whether it has been certified by a reputable grading service like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
Mint State Values
- MS60-64: These coins, showing some signs of wear but still in good condition, can range from $30 to $150.
- MS65-66: Coins in this range, with minimal wear and good strike, can be worth between $100 and $300.
- MS67 and Higher: These high-grade coins, with nearly perfect preservation, can reach values of $500 to $2,000 or more.
Proof Values
Proof coins, made specifically for collectors and characterized by their mirror-like finish, are rarer and more valuable. An 1885 Morgan Dollar proof can range from a few thousand dollars for lower grades to tens of thousands of dollars for higher grades.
Factors Affecting Value
- Rarity: The scarcity of the coin, including both its mintage and the number of surviving coins in good condition.
- Demand: Coins in high demand, whether for their historical significance or aesthetic appeal, can command higher prices.
- Condition: The better the condition, the higher the value.
- Certification: Coins certified by reputable grading services can increase the value due to the assurance of authenticity and condition.
- Market Trends: The value can fluctuate based on current market trends and the overall health of the numismatic market.
Collecting the 1885 Morgan Silver Dollar
For collectors, the 1885 Morgan Silver Dollar offers a rewarding challenge. Whether you're just starting your collection or are a seasoned numismatist, the combination of historical significance, aesthetic appeal, and potential value increase makes the 1885 Morgan Dollar an excellent addition to any collection.
Tips for Collectors
- Buy from Reputable Dealers: Ensure authenticity and condition by purchasing from dealers who are members of professional numismatic organizations.
- Get Your Coins Graded: Certification can significantly increase the value and provide peace of mind regarding the coin's authenticity and condition.
- Store Your Coins Properly: Use albums, folders, or capsules designed for coin storage to protect your investment.
Conclusion
The 1885 Morgan Silver Dollar is a piece of American history that continues to captivate collectors and historians. Its value, influenced by a variety of factors including condition, rarity, and demand, makes it an intriguing investment opportunity. For those interested in collecting or investing in the 1885 Morgan Dollar, understanding its history, characteristics, and market trends is essential.
Share Your Thoughts
If you have experience collecting or are interested in the 1885 Morgan Silver Dollar, we'd love to hear about it. Share your stories, ask questions, or provide insights into the world of numismatics in the comments below.
What is the significance of the Morgan Silver Dollar in American numismatics?
+The Morgan Silver Dollar is one of the most iconic American coins, symbolizing the period of silver dollar production from 1878 to 1904 and briefly in 1921. It's named after its designer, George T. Morgan, and is highly prized among collectors for its historical significance and aesthetic appeal.
How can I determine the value of my 1885 Morgan Silver Dollar?
+The value of your 1885 Morgan Silver Dollar is determined by factors such as its condition (grade), rarity, demand, and whether it has been certified by a reputable grading service. Consulting a coin dealer or using online resources can help you estimate its value.
Why is the 1885 Morgan Silver Dollar a good investment?
+The 1885 Morgan Silver Dollar can be a good investment due to its historical significance, the inherent value of silver, and the potential for long-term appreciation in value. However, like any investment, it carries risks, and market trends can fluctuate.