Value of 1885 Morgan Dollar Rare Silver Dollar Buyers

The New Orleans Mint, which had a storied history dating back to the antebellum period, struck 9,185,000 Morgan silver dollars in 1885. Coins from this southern branch mint often exhibit a distinctive appearance, with softer strikes and more muted luster than their Philadelphia counterparts. In circulated condition, expect between $37 and $325 for your 1885-S Morgan silver dollar, depending on the grade. Rare forex broker 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. The degree of wear (hopefully none at all) is a little hard to gauge but is one step that needs attention. Following the lead of collectors, examine the condition of your 1885 dollar closely.

Most surviving circulated examples are graded good to fine, but even these are worth good money. You can expect between $560 and $785 for 1885-CC circulated silver dollars. In its circulated condition, an 1885 no-mint mark dollar is worth between $32 and $70. These coins fetch more in their mint state, from $75 for a piece graded MS60 to $65,000 for gem-quality specimens graded MS69 and above. Morgan silver dollars are some of the most collectible in the history of United what etoro is all about States coinage.

Where to Sell Your 1885 Silver dollar ?

Learning about the features of the 1885 silver dollar can help you quickly determine if fundamental analysis approach your coin might be valuable. Metal composition – You can hardly notice a difference in silver content with the naked eye. However, you can check your coin’s magnetic characteristics since silver is not a magnetic metal. Finally, a silver shortage stopped production in 1904, and this lovely coin disappeared from use after one more attempt in 1921.

A compromise was reached, and in 1878, the Bland-Allison Act authorized the U.S. Treasury to buy silver bullion worth 2-4 million dollars each month at the prevailing market price. The most pricey is the one in an MS 68 grade sold at Heritage Auctions in 2015 for $37,600. Many Mint State 1885-CCs suffered from storage, and their train ride from Nevada to Washington DC.

S Morgan Dollar AU-58 PCGS

• Many rare and valuable dates and mintmark combinations are found throughout the entire 1878 through 1921 history of Morgan silver dollars.
• Morgan silver dollars are some of the most collectible in the history of United States coinage.
• Circulated coins, on the other hand, will show unmistakable signs of wear on the high points.
• The degree of wear (hopefully none at all) is a little hard to gauge but is one step that needs attention.
• Following the lead of collectors, examine the condition of your 1885 dollar closely.

Factors such as toning, strike sharpness, and eye appeal can also influence a coin‘s perceived value within a given grade. In this article, we explain everything you need to know about the 1885 silver dollar value. We will explore the worth of each variety and discover errors that can increase your coin’s value by hundreds or thousands of dollars. Collectors who pursue the many VAM (Leroy C. Van Allen and A. George Mallis) varieties may find several die variations to pursue from 1885. Discovering rare mintmarks and high condition all contributes to 1885 Morgan silver dollar value.

The Value of a 1885-CC Morgan Dollar

1885-CC Morgan dollars are available up to MS66, priced around $2,000. The few higher grade examples fetch prices in line with their rarity. Prices are high, and basically flat across the spectrum of circulated 1885-CC Morgans, a reflection of just how rare they are. Circulated coins, on the other hand, will show unmistakable signs of wear on the high points. The details, high points and fields will be smooth on low-grade circulated examples and slightly more visible as you go up the grading scale. You might be glad to discover that the 1885 silver dollar is worth more than face value.

The 1885 silver dollar with no mint mark is worth around $48 in very fine condition. In uncirculated condition the price is around $70 for coins with an MS 60 grade. This is especially true for rare coins, where there are fewer sales and greater variations in sale prices. For all of these reasons, the prices in these guides are designed to serve merely as one of many measures and factors that coin buyers and sellers can use in determining coin values. The 1885 S silver dollar is worth around $55 in very fine condition.

SELLING YOUR PRECIOUS METALS

Morgan silver dollars, as a series, are highly popular with collectors today. These now very old silver dollars are large in size, striking in design, available and represent good value with many reasonably priced. 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. Few were seen in the great Morgan dollar disbursement at the Treasury Department in 1962–1964, before someone there realized Carson City silver dollars were worth much more than face value. The last 1885-CC Morgans were sold in the GSA Morgan dollar sale of 1980.

Nowadays, the 1885 silver dollar value is high due to the limited number on the market. The coin has luster, but there may be a few stains, abrasions, or surface marks. 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 $29.84 per ounce. The reverse of the Morgan Dollar has an eagle in the center with its wings spread and a wreath surrounding. Lady Liberty’s left-facing portrait wearing a Phrygian cap features prominently on the obverse of the 1885 silver dollar.

Assistant chief coin engraver, George Morgan, began drafting designs for the new silver coin in 1876, and by March of 1878, the coin’s production was already underway. At the suggestion of his friend, Morgan used Anna Willess Williams, a teacher of Philosophy, as the model on the coin’s obverse. The Sherman Silver Purchase Act of 1890 increased the amount of silver the Treasury could buy, but a stock market crisis caused the Act to be repealed in 1893. The Mint 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.

The gold rush of the 1850s to 1860s led to the discovery of large silver deposits in the West. Please check our grading guides to know your coin scale, It’s the necessary step to know the exact value of your coin. The words UNITED STATES OF AMERICA occupy the upper half of the coin’s inner rim on the reverse while the denomination, ONE DOLLAR, appears along the rim at the bottom. The motto E PLURIBUS UNUM appears at the top around the coin’s rim while the date, 1885, is imprinted at the bottom. Minting year – The US Mint produced Morgans only during the period from 1878 to 1904 and later in 1921.

228,000 Morgan silver dollars were minted in Carson City in 1885, making them valuable on the current coin market. Even those in circulated condition cost $450 to $660, while pieces in perfect condition often reach a price of $600 to $8,400. In the 1940s and 1950s, Texas casino owner Ted Binion amassed a massive collection of silver dollars, including many 1885 Morgans.

Silver Dollar Grading

1885 did not mark the end of the Carson City Mint or its production of silver dollars. In 1889, the Treasury Department reversed course, and coinage resumed. In 1890, the Carson City Mint struck the most Morgan Dollars in the branch mint’s history. The Carson City Mint’s second act would be short, striking its final gold and silver coins in 1893.