The 1890 US Silver Dollar coin is a highly sought-after collectible among numismatists, and its value can vary greatly depending on its condition, rarity, and historical significance. In this article, we will delve into the history of the 1890 US Silver Dollar coin, its design, minting process, and current market value.
History of the 1890 US Silver Dollar Coin
The 1890 US Silver Dollar coin was minted during a period of significant change in the United States. The country was experiencing rapid growth and industrialization, and the demand for silver coins was high. The Morgan dollar, designed by George T. Morgan, was first introduced in 1878 and became one of the most popular silver dollar coins in US history.
The 1890 US Silver Dollar coin was minted in Philadelphia, San Francisco, and New Orleans, with a total mintage of 11.4 million coins. The coin features an obverse design with Lady Liberty on the left side, and a reverse design with an eagle on the right side.
Design and Minting Process
The 1890 US Silver Dollar coin is made of 90% silver and 10% copper, with a diameter of 38.1 mm and a weight of 26.73 grams. The coin features a reeded edge and a mint mark, which indicates the mint where it was produced. The obverse design features Lady Liberty with a Phrygian cap on her head, surrounded by 13 stars, representing the original 13 colonies.
The reverse design features an eagle with outstretched wings, perched on a bundle of arrows and an olive branch. The eagle is surrounded by the inscriptions "UNITED STATES OF AMERICA" and "ONE DOLLAR." The coin's design is a testament to the artistic skill of George T. Morgan, who designed the Morgan dollar series.
Grading and Condition
The condition of the 1890 US Silver Dollar coin plays a significant role in determining its value. Coins that are in good condition, with minimal wear and tear, can command a higher price than those that are worn or damaged. The Sheldon scale, developed by Dr. William Sheldon, is used to grade coins based on their condition.
Coins that are graded MS-65 (Mint State) or higher are considered to be in excellent condition, with minimal imperfections. Coins that are graded AU-50 (About Uncirculated) or lower may have noticeable wear and tear, and their value will be lower accordingly.
Market Value
The market value of the 1890 US Silver Dollar coin can vary greatly depending on its condition, rarity, and demand. According to the Professional Coin Grading Service (PCGS), a MS-65 graded 1890 US Silver Dollar coin can sell for around $1,500. However, a coin that is graded MS-67 or higher can sell for upwards of $10,000.
Rarity and Mintage
The rarity of the 1890 US Silver Dollar coin is another factor that contributes to its value. The coin was minted in three different locations, and the mintage varies depending on the location. The Philadelphia mint produced the most coins, with a mintage of 8.2 million. The San Francisco mint produced 2.1 million coins, while the New Orleans mint produced 1.1 million coins.
Investment Potential
The 1890 US Silver Dollar coin is a highly sought-after collectible, and its value can appreciate over time. However, it is essential to remember that investing in rare coins involves risk, and the market can be volatile. It is crucial to do your research, consult with experts, and buy coins from reputable dealers.
Gallery of 1890 US Silver Dollar Coins
FAQs
What is the composition of the 1890 US Silver Dollar coin?
+The 1890 US Silver Dollar coin is made of 90% silver and 10% copper.
How many 1890 US Silver Dollar coins were minted?
+A total of 11.4 million 1890 US Silver Dollar coins were minted.
What is the value of a MS-65 graded 1890 US Silver Dollar coin?
+A MS-65 graded 1890 US Silver Dollar coin can sell for around $1,500.
We hope this article has provided you with a comprehensive understanding of the 1890 US Silver Dollar coin, its history, design, and market value. If you are interested in collecting rare coins, we encourage you to do your research, consult with experts, and buy coins from reputable dealers.