One of the most common coins to acquire as a collector is the Morgan Silver Dollar. However, evaluating the quality first before paying money for one is essential. If you're curious about the 1885 Silver Dollar value, you've come to the right place!
Although Silver dollars have been around since the late 1700s, the introduction of Morgan silver dollars in the 19th century was an instant success. Even though they were only produced for a short period, American collectors highly sought after these coins. So, what's the 1885 silver Dollar Value? That is what we'll be discussing in this article.
1885 Silver Dollar Value
Morgan silver dollar proofs, struck by the Philadelphia Mint in 1885, are more expensive than ordinary issue coins since they are intended to be flawless representations of their respective kinds. On the coin market, they may sell anywhere from $1,000 and $15,000, with PR 67 examples with cameo fetching over $14,981.
No Mint Mark 1885 Morgan silver dollars weigh in at 0.859 ounces (26.73 g), and their silver content is 0.77344 troy ounce (24.05 g). The minimum you can expect for a typical 1885 Morgan silver coin is $18.72. You can quickly determine how much money your cash is worth by comparing it to the prevailing Silver spot price of $24.21 per 1 silver ounce (31.1 g).
An 1885 O Morgan silver dollar is valued at anywhere from $30 to $60, depending on its condition. However, pieces in immaculate condition are somewhat pricey, ranging from $55 to $1,175, depending on the preservation quality.
Those available in the $21,000-$26,000 range are very uncommon and of excellent quality. The highest-graded example was an MS 68 that fetched $37,600 during Heritage Auctions in 2015.
San Francisco produced only 1,497,000 of 1885 Silver Dollar S. Morgan. Coins in mint condition consistently fetch six figures, while those in circulation fetch less than $200. It’s assumed that dollar coins with the S mint sign are worth $45,000 to $54,000; you may also purchase pieces graded MS 67 from other mints for a few thousand dollars.
The other category is Morgan's Error Coins, which still needed to be minted despite having flaws in the design or manufacturing process. Many Morgan silver dollars were flawless, although some collectors have reported finding examples with defects such as a micro-O mistake, an off-center obverse, or a struck-through obverse.
The rarity and condition of these coins determine their worth. When there are several instances of an error coin, it becomes more sought after because a full set is more likely, thus boosting its value. As more examples of the coin are discovered, interest in it grows, driving up its value.
Why Are Morgan Silver Dollars Popular?
First, Silver is an appealing metal with several beneficial properties. Thus, it is generally considered a valuable investment. Secondly, Morgan silver dollars have a unique and attractive design that makes them stand out visually from other silver coins.
How to Determine The 1885 Morgan Silver Dollar Value?
It is crucial first to determine the damage on the 1885 Morgan silver dollar, even though it may be tricky. The grading system assigns grades to coins, such as extremely fine, uncirculated, and refined.
The “extremely fine” quality is defined by minor design wear confined to the highest points. Only a few hair strands over Liberty's temple and below her cap have been combined, so the overall effect is rather subtle. Additionally, cap folds may show traces of rubbing and have lost a little bit of their roundness.
The uncirculated silver dollar has not been used in trade. The temple and coronet of Liberty's headpiece show the earliest signs of metal loss from wear before the rest of the crown. In this case, your coin should be as it was just minted, with no signs of use.
Morgan silver dollars are in “fine” condition when they show mild wear and loss of detail. Despite the obvious signs of wear, the distinctive patterns on her cap and hair are still easily recognizable. However, the original surface texture is lost and replaced with a smoother one.
Which Characteristics Does the Morgan Silver Dollar Have?
Morgan silver dollars from 1885 are now considered antiques and command hefty prices due to their scarcity and demand. They have Silver content that makes them valuable even in poor conditions.
On the front of the Morgan silver dollar, you'll see Lady Liberty, the year, and the inscription “E PLURIBUS UNUM”, and each of the first 13 states is represented with a star.
The other side features a spread-winged eagle clutching an olive branch with arrows next to a wreath. Lastly, there is a total of 0.77344 troy ounces of Silver, 900 milligrams of fine Silver, and 100 milligrams of copper in one Morgan Dollar.
How Can You Tell A Morgan Silver Dollar Is Fake?
Morgan dollars were issued by the United States Mint solely between 1878 and 1904, then again in 1921. If the year on the front of your coin doesn't match that of the year it was minted, you can be sure it's a fake.
Only five mint marks appear on the obverse of silver dollars across time: O, S, D, and CC. Thus, a counterfeit coin would have a different letter struck underneath the wreath. Again, you must be cautious since some forgers can alter or even delete the mint mark.
The average weight of a worn real coin is 0.85939 silver ounces (26.73 g), but the importance of a fake dollar coin is much lower. Weights of most counterfeit coins range from 0.57871 to 0.70732 ounces of Silver (18 – 22 g).
You may also examine the coins' metal content. Since Silver isn't a magnetic metal and differences in silver content are difficult to see with the bare eye, you may verify your coin's authenticity by examining its magnetic properties. If the counterfeit Morgan is made from aluminum, this will not work.
Where Can You Buy The 1885 Morgan Silver Dollar?
Coin dealers make it easy to purchase Morgan Silver Dollars, but be wary of fraudsters. It would help if you only bought this coin from a reputable vendor, such as on sites like Amazon, eBay, or Numisbids. Keep your silver dollar coins safe after you get them in the mail, and try to handle them sparingly.
Despite their scarcity, 1885 Silver Dollars are among the most expensive coins ever produced. This 1885 silver dollar is found in several varieties, including the O Morgan dollar and the non-Mint mark Morgan dollar. To purchase one, you need to know how coins are graded and only buy from a trustworthy vendor.