If you have an 1883 silver dollar, read on to learn more about what it’s worth and how you can determine its value.
The 1883 silver dollar is a popular coin among collectors. If you have one of these coins, you may be wondering about its present worth. In this blog post, we will explore the value of the 1883 silver dollar. We will also discuss what factors affect the value of a coin and how you can determine the value of your coin.
1883 Morgan Silver Dollar Current Value
The value of a Morgan silver dollar depends on its condition, date, and mint mark. Uncirculated coins with no wear are worth the most, followed by circulated coins in good condition. Coins from certain years and mints are also more valuable than others. For example, the 1883-S Morgan silver dollar is one of the series's rarest and most valuable coins.
While most Morgan silver dollars are worth only a few dollars above their melt value, some exceptional examples can be worth thousands or even tens of thousands.
The Morgan silver dollar was minted from 1878 to 1904 and again in 1921. It was designed by George T. Morgan, after whom the coin was named. The Morgan silver dollar contains 90% silver and 10% copper and is considered one of the most beautiful American coins ever minted.
1883 Morgan Silver Dollar Design
The Morgan silver dollar was first minted in 1878 and was designed by United States Mint Assistant Engraver George T. Morgan. The coin's obverse features a profile portrait of Lady Liberty, while the reverse (back) depicts an eagle with wings outstretched.
Minting of the Morgan silver dollar continued until 1904, after which the US government halted time production of the coin for nearly two decades. In 1921, the minting of silver dollars resumed with the release of the Peace dollar, which featured a similar design to the Morgan dollar.
Today, collectors and investors seek out Morgan silver dollars for their value. The coins are highly sought-after for their rarity and historical significance and can be worth hundreds or even thousands of dollars each.
Uncirculated 1883 Morgan Silver Dollar
A few things determine the value of an 1883 Morgan silver dollar in uncirculated condition. Here are some determinants:
The Coin's Condition
The coin's overall condition, graded on a scale from 1 to 70, with 70 being a perfect coin. An 1883 Morgan silver dollar in uncirculated condition will fetch a much higher price if it grades at 60 or above than if it grades lower.
Strike Condition of the Coin
A well-struck coin will have all the design details well-defined, while a poorly-struck coin may be missing some details or have them blurred. Again, a well-struck 1883 Morgan silver dollar in uncirculated condition will be worth more than one that isn't as well-struck.
Coins with good luster tend to be more valuable than those without, all other things being equal. Luster is determined by how much light reflects off the coin's surface and how evenly it does so. Coins with poor luster may look dull or even spotted.
Coin’s Visual Appeal
The coin’s aesthetics is a somewhat subjective measure, but it refers to how pleasing the coin looks to the naked eye. A coin with great eye appeal will be worth more than one that doesn't look as nice, even if it has better technical qualities in terms of condition and strike.
Extremely Fine 1883 Morgan Silver Dollar
An extremely fine 1883 Morgan silver dollar is a coin minted in 1883 and is in excellent condition. It is made of 90% silver and 10% copper and has a diameter of 38.1 mm.
The coin's obverse features a portrait of Lady Liberty with the date, while the reverse depicts an eagle with wings outstretched. These coins are highly sought after by collectors and can be worth hundreds or even thousands of dollars.
Good Condition Morgan Silver Dollars
When it comes to Morgan silver dollars, the coin's condition is everything. A coin in good condition will always be worth more than one in poor condition, no matter the design or year. Take a look at the overall appearance of the coin. If it looks worn or damaged in any way, it is likely not in good condition.
Check for any obvious signs of damage, such as scratches, nicks, or dents. These can all potentially devalue a coin. Finally, take a close look at the details of the design. If they are wearing away or difficult to see, this also indicates that the coin is not in good condition.
Information of 1883 Morgan Silver Dollar
The 1883 Morgan Silver Dollar was minted in Philadelphia and San Francisco and is made of .900 fine silver. It contains .7734 troy ounces of silver. The coin was designed by George T. Morgan, after which it is named, and its obverse (front) features a profile portrait of Lady Liberty. The reverse (back) depicts an eagle with outstretched wings. The coin has a diameter of 38.1 mm and a thickness of 2.4 mm.
Value Depending on Coin’s Condition
Circulated Morgans trade for between $20 and $50, depending on the condition. Uncirculated examples can be worth much more, ranging from $100 to over $1,000 for coins in pristine condition.
Morgan Silver Coin Grading
Mint state Morgans are graded on a 70-point scale by professional coin grading services like NGC and PCGS. Coins that grade MS60 to MS63 are considered common and are worth $100 to $250 in most cases.
Those that grade MS64 and higher are scarce and command prices of $500 and up. The most valuable Morgans are those that grade MS65 or higher; these coins can be worth several thousand dollars or more.
1883 Morgan Silver Dollars with No Mint Mark
The Morgan silver dollar, minted from 1878-1904 and then again in 1921, is one of the most popular silver dollars amongst collectors. Many people are interested in Morgan silver dollars because they are relatively inexpensive and easy to find. However, some Morgan silver dollars are more valuable than others. One such example is the Morgan silver dollar with no mint mark.
Morgan silver dollars with no mint mark are typically worth more than other Morgan silver dollars because they are rarer. Only a handful of these coins are minted yearly, so they are not as common as additional Morgan silver dollars. If you have a Morgan silver dollar with no mint mark, you can sell it for up to $300.
1883 CC Morgan Silver Dollar
Coins minted at the Carson City Mint (CC) are among the most desirable of all Morgan silver dollars. That’s because Carson City Morgans were minted in smaller quantities than coins from other mints. For example, just over one million CC Morgans were struck in 1883, compared to more than five million Morgans struck at the Philadelphia Mint that same year.
The value of a particular CC Morgan silver dollar also depends on its condition. Collectors place great importance on a coin's condition or “grade” when determining its value. A coin in excellent condition with no visible wear will be worth more than a heavily circulated coin with numerous scratches and dings.
Some CC Morgan silver dollars are worth more than others because they are rare. One such variety is the 1883-CC “tail bar” variety, which is so named because of a small horizontal bar that extends from the bottom of the “9” in the date. The variety is quite rare, can command a hefty premium over other 1883-CC Morgans, and can sell for more than $500.
1883 O Morgan Silver Dollar
The coin's reverse depicts an eagle with wings outstretched, clutching an olive branch and arrows in its talons. The coin was designed by George T. Morgan, who is also responsible for designing the obverse of the coin, which features a profile portrait of Liberty. The coin was minted in New Orleans and had a base value of $18.83. However, in 2020 it was auctioned for $60000.
1883 S Morgan Silver Dollar
The obverse side of the coin features a portrait of Liberty, designed by George T. Morgan. The date is below the portrait, while the word “LIBERTY” appears above it. Thirteen stars surround the image, representing the thirteen original colonies.
The coin's reverse side bears an image of an eagle with outstretched wings, surrounded by the words “UNITED STATES OF AMERICA” and “ONE DOLLAR.” The letter “S” mint mark appears to the right of the eagle's tail feathers.
Mintmarks were not used on Morgan dollars minted between 1878 and 1904; however, coins minted in 1921 bear a small “D” mintmark below the wreath on the reverse side, indicating that they were struck at the Denver Mint facility. Philadelphia-minted coins do not have a mintmark. In 2003 the 1883 S Morgan was auctioned for $74750.
1883 Morgan Silver Dollar Errors
A few different types of Morgan Silver Dollar errors can affect the coin's value. There are quite a number of such. Below, we have captured some of the most common ones:
- The first is a doubled die error, which occurs when the die used to strike the coin is misaligned, causing the image on the coin to be doubled. It is a relatively rare error and can often add a significant premium to the coin's value.
- Clipped Planchet: This error occurs when a portion of the metal plank used to strike the coin is missing. It results in an irregularly shaped coin and can significantly increase its value.
- Numerus striking error: It occurs when multiple coins are struck by the same die, resulting in what is known as numerous striking errors. These are generally much more common than the other two errors but can still add a premium to the coin's value.
The 1883 Morgan silver dollar is a highly sought-after coin by collectors due to its age and scarcity. While the average 1883 Morgan silver dollar value is around $500, some examples have sold for as much as $1,200. So, if you come across one of these coins, be sure to get it appraised by a professional before selling it. With the right care, an 1883 Morgan silver dollar can last for generations.