Uncirculated coins with a grade of MS 65 can sell for around $1,450. One type of coin that you should be aware of is the extremely fine grade. This coin usually commands a higher price than other grades because it is in better condition than most coins. Another valuable grade is “uncirculated.” A silver https://www.forex-reviews.org/ dollar that is considered “uncirculated” has never been used in trade.
They are often referred to as the “investment dollar” because of their high value and metal purity. With a mintage of only 228,000, the 1855-CC silver dollar is considered the rarest Morgan after the 1903-O silver dollar. 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. MS 65 Uncirculated condition- There is strong luster and eye appeal.
New Orleans Mint (O)
- Very fine- About two thirds of Liberty’s hair lines from above her forehead her ear are visible.
- Today, it is considered a scarce issue, especially in MS65 and above, but not a truly rare mintage.
- The most valuable are scarce deep mirror proof-like specimens worth an impressive $75,000 to $90,000.
- In its circulated condition, an 1885 no-mint mark dollar is worth between $32 and $70.
- As a result of the late release, 1885-O silver dollars are widely available in high grade.
- Besides coins from the regular strike, the Philadelphia mint produced 930 Morgan silver dollar proofs in 1885.
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 Day trading signals 1890 increased the amount of silver the Treasury could buy, but a stock market crisis caused the Act to be repealed in 1893.
- With a mintage of only 228,000, the 1855-CC silver dollar is considered the rarest Morgan after the 1903-O silver dollar.
- Since the San Francisco mint struck a modest 1,497,000 Morgan silver dollars in 1885, you can expect high prices, particularly for well-preserved coins.
- Millions upon millions of 1885-O Morgan dollars were still sitting in the vaults of the New Orleans Mint when it was shut down in 1909.
- One type of coin that you should be aware of is the extremely fine grade.
- PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points.
- Despite these coins being struck more than 130 years ago, circulated examples are still in good shape.
- The 1885 Morgan silver dollar is a fascinating and valuable piece of American numismatic history.
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The hair at Liberty’s temple and coronet is typically where any worn metal first becomes visible in Morgan silver dollars. In addition to the regular strike of 1885 silver dollars, the Philadelphia mint produced proof coins specially struck for collectors. In the 1960s and 1970s, the U.S. government sold millions of uncirculated Morgan silver dollars that had been sitting in Treasury vaults for decades. This event, known as the GSA (General Services Administration) Hoard, released a flood of high-quality coins into the market, including many 1885-CC dollars.
It‘s important to note that grading is a subjective process, and even bitmex review experienced collectors and graders may have slightly different opinions on a coin‘s grade. Factors such as toning, strike sharpness, and eye appeal can also influence a coin‘s perceived value within a given grade. As a coin collector and expert, I‘ve always been fascinated by the 1885 Morgan silver dollar. This classic American coin, with its rich history and stunning design, has captured the hearts of numismatists for generations. The New Orleans mint struck an estimated 9 million silver dollars in 1885. Grading Morgan silver dollars involves examining the high points on the obverse and reverse for signs of wear.
Many Mint State 1885-CCs suffered from storage, and their train ride from Nevada to Washington DC. The copious bag marks prevent these coins from getting a higher grade. This is regrettable, since most of them have sharp strikes very good luster. Millions upon millions of 1885-O Morgan dollars were still sitting in the vaults of the New Orleans Mint when it was shut down in 1909. Most of those uncirculated Morgan dollars ended up in storage vaults at the Philadelphia Mint.
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In addition to being valuable, error coins are fun to collect because you can see something unexpected on each one you own. The value of the coin might, and frequently does, depend on whether a mint mark is present. However, as every coin is unique, there is no established rule of thumb for this. In certain circumstances, the mint mark may raise the value, while in other circumstances, a no-mint-mark mistake may do so.
The Value of a 1885-CC Morgan Dollar
These coins, which were sold in special GSA holders, remain popular with collectors today. Now that we‘ve explored the historical context and importance of grading let‘s take a closer look at the current market value of 1885 Morgan silver dollars. The following table provides a comprehensive overview of prices for various grades and mint marks, based on recent auction results and dealer listings. Many 1885 silver dollars are valuable in circulated and uncirculated condition due to the coin’s silver content. But, proof silver dollars and uncirculated 1885-CC silver dollars are the most valuable in the series because of their scarcity.
Value of 1885 Silver Morgan Dollar
This date is common through MS66, due to the millions that spent their entire existence in bank bags. The value of these rare coins depends on their condition and rarity. If there are multiple examples of an error coin, its value increases because it’s more likely that it’s a complete set. As the number of known examples increases, so does the amount of interest in that coin type. Basically, they’re coins that were struck during a design or production error.
Since the San Francisco mint struck a modest 1,497,000 Morgan silver dollars in 1885, you can expect high prices, particularly for well-preserved coins. While those in circulated condition typically cost under $200, rare coins in the mint state always reach significant sums. As you can see, the value of an 1885 Morgan silver dollar can vary greatly depending on its condition and mint mark. The 1885-CC, with its low mintage and historical significance, commands the highest prices across all grades. The 1885-S, known for its quality and eye appeal, also fetches a premium, particularly in higher Mint State grades. With so many mint state coins readily available, collectors typically focus on the scarce circulated grades, such as the 1885-CC and 1885 Proof silver dollars.