If you’ve got an 1889 Morgan Silver Dollar, you might be sitting on a small fortune. This coin, which looks quite ordinary, can actually be worth thousands or even hundreds of thousands of dollars!
Some of these coins have sold for as much as $880,000 at auction, making it one of the most valuable coins out there.
In this article, we’ll explore what makes the 1889 Morgan Dollar so special. You’ll learn about the different mint marks, grading systems, errors, and unique features that could boost your coin’s value significantly.
A Glimpse Into History: The Morgan Dollar
The Morgan Silver Dollar was designed by George T. Morgan and was minted from 1878 to 1904, with one final year of production in 1921.
The 1889 edition holds particular significance as it was produced during a time of economic shifts and debate over the use of silver in American currency. This year saw millions of these coins minted at various U.S. locations, including Philadelphia, San Francisco, New Orleans, and Carson City.
Despite its large mintage, many coins from 1889 were melted down in later years, making surviving ones more valuable. Their scarcity, coupled with their history, has made them highly sought after by collectors today.
Key Features of the 1889 Morgan Silver Dollar:
- Material: 90% silver, 10% copper
- Weight: 26.73 grams
- Diameter: 38.1 mm
- Designer: George T. Morgan
- Mint Marks: ‘CC’ (Carson City), ‘S’ (San Francisco), ‘O’ (New Orleans)
- Total Mintage: 34.6 million coins
What Affects the Value of Your 1889 Morgan Dollar?
- Mint Marks: Each mint had a different production quantity, and the location where your coin was produced plays a big role in its value. The Carson City mint produced the fewest coins, making these among the most valuable.
- Philadelphia Mint: No mint mark. Coins from here are the most common, but higher-grade ones can still fetch several thousand dollars.
- New Orleans Mint (O): These coins are slightly rarer, especially in mint condition, making them more valuable.
- San Francisco Mint (S): This mint produced fewer coins, adding value, particularly in higher grades.
- Carson City Mint (CC): Coins with the “CC” mint mark are the rarest and can sell for hundreds of thousands of dollars in top condition.
- Coin Grading: The condition of your coin can greatly impact its value. Coins are graded on a scale from Poor (P-1) to Perfect Mint State (MS-70). Even slight variations in the coin’s wear and tear can make a big difference in price. Uncirculated coins are particularly valuable, while those in mint condition (MS65 or higher) can command sky-high prices.
- Proof Coins: Proof coins, especially those with cameo or deep cameo finishes, are rarer and more detailed than regular strikes. These special versions were produced with higher quality and sell for significantly more than regular coins.
- Minting Errors: Coins with unique errors, such as off-center strikes or die rotation, can be worth much more than a regular 1889 Morgan Dollar. Error coins are rare, making them highly desirable to collectors.
- VAM Varieties: VAMs are unique varieties of Morgan Dollars caused by differences in the dies used during production. For the 1889 Morgan Dollar, certain varieties, like the “Doubled Ear,” can increase its worth substantially.
How to Spot a Valuable Coin
Examine the details closely. The condition of Lady Liberty’s hair, the eagle’s feathers, and the general wear on the coin will give you clues about its grade. Also, look out for mint marks or any unusual features that could indicate a minting error or special variety.
Final Thoughts
The 1889 Morgan Silver Dollar is more than just a piece of American history—it could be a treasure waiting to be discovered.
Whether you have a coin with a rare mint mark, a unique error, or one in pristine condition, you could be in for a big payday. It’s always a good idea to get your coin graded by a professional service to understand its true value.
Ethan is a passionate rare coin collector with years of experience uncovering the stories and history behind unique coins. His insightful articles are a go-to for anyone curious about coin values or their fascinating backstories.