1885 Silver Dollar Coin Value: How Much Is It Worth?

By | December 5, 2022

In 1885, around 28 million of dollars were struck for circulation according to U.S. records, down over 60% from years right after the passage of the Bland-Allison Act (Thurman, 1894). This low 1885 date of issue along with the melting of older coins over the ensuing decades makes any surviving 1885 silver dollars rare and highly sought-after by modern collectors and investors. Since the Carson City mint produced 228,000 Morgan silver dollars in 1885, surviving pieces in the mint state are rare. The most valuable are scarce deep mirror proof-like specimens worth an impressive $75,000 to $90,000. The US Mint destroyed all error coins before releasing them into circulation as pieces that couldn’t meet technical requirements.

All Morgan silver dollars produced from 1878 to 1904, particularly those minted in the 19th century, are highly collectible and desirable among collectors nowadays. The initial silver dollar mintage hycm reviews was never too high because of the limited silver amount in the US Mint’s reserves. Despite the high mintage, 1885 no mint-mark silver dollars are quite valuable even in the circulated state.

  1. Treasury to buy silver bullion worth 2-4 million dollars each month at the prevailing market price.
  2. Discovering rare mintmarks and high condition all contributes to 1885 Morgan silver dollar value.
  3. Today there is a wide range of common to rare coin values found in your box of old coins.
  4. CAC has approved just two coins at MS68 from the other grading services and, as of March 29, 2024, has graded two coins at MS67.
  5. This scarcity and low supply creates high demand from collectors looking to add one of these rare coins to their collection.

Even though some collectors report a few errors, like obverse struck through, off-center, and micro-O error, the fact is that Morgan silver dollars typically came without imperfections. The survived 1885 Morgan silver dollars of 9,185,000 produced in New Orleans typically cost $30 to $60, depending on the degree of wear. On the other hand, pieces in the mint state are expensive and cost $55 to $1,175, depending on the preservation level.

proof Morgan silver dollar value

Treasury to buy silver bullion worth 2-4 million dollars each month at the prevailing market price. Examine the coin under magnification to check for proper reeding along the edge. Authentic coins feature a mint mark either above the DO in “Dollar” on the cryptocurrency broker canada reverse (for New Orleans mint) or below the eagle’s tail feathers (for Philadelphia or San Francisco mints). Determining if an 1885 silver dollar is genuine involves carefully examining the coin for proper weight, dimensions, designs, and markings.

What Makes A 1885 Silver Dollar Rare

However, you can check your coin’s magnetic characteristics since silver is not a magnetic metal. The most pricey is the one in an MS 68 grade sold at Heritage Auctions in 2015 for $37,600. The 1885 silver dollar has a reeded edge, while the inner rim features decorative ridges throughout the coin’s fxdd review diameter. Learning about the features of the 1885 silver dollar can help you quickly determine if your coin might be valuable. 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.

Collector Demand and Market Values

The 1885 Morgan silver dollars have value as both numismatic coins and as silver bullion. Morgan silver dollars, including those struck in 1885, have the reputation of being perfectly struck. As such, there aren’t many Morgan silver dollar errors in circulation. In circulated condition, expect between $35.50 and $200 for your 1885-S Morgan silver dollar, depending on the grade. Rare examples in mint state are worth slightly more, with an MS65 bringing as much as $2,900 and a gem-quality MS67 fetching as much as $62,500.

The obverse of the 1885 Morgan silver dollar

CAC has approved just two coins at MS68 from the other grading services and, as of March 29, 2024, has graded two coins at MS67. Although 1885-CC Morgan dollars were struck for circulation, very few actually were released into commercial channels. Indeed, its likely that most, if not all of the Carson City Mint’s coin holdings were transferred to either the San Francisco Mint or other Treasury facilities for longterm storage. 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 $27.00 per ounce. Metal composition – You can hardly notice a difference in silver content with the naked eye.