The Morgan Silver Dollar, minted from 1878 to 1904 and again in 1921, is one of the most iconic and popular coins in the United States. The 1891 Morgan Silver Dollar, in particular, is a highly sought-after coin among collectors due to its unique characteristics and relatively low mintage. In this article, we will explore the value guide for the 1891 Morgan Silver Dollar, including its history, design, mintage, and pricing.
History of the Morgan Silver Dollar
The Morgan Silver Dollar was designed by George T. Morgan, an assistant engraver at the Philadelphia Mint, and was first minted in 1878. The coin was created to utilize the large amounts of silver being mined in the United States, particularly in Nevada, and to provide a circulating dollar coin that was not as large as the earlier Seated Liberty dollar.
The Morgan Silver Dollar was minted for 26 years, with a total mintage of over 657 million coins. However, due to the Pittman Act of 1918, which required the melting of millions of silver dollars to provide silver for the war effort, many Morgan Silver Dollars were destroyed, making certain dates and mint marks more scarce.
Design of the 1891 Morgan Silver Dollar
The 1891 Morgan Silver Dollar features a portrait of Lady Liberty on the obverse (front) side, with a crown of wheat and cotton on her head. The reverse (back) side features a bald eagle, with outstretched wings, clutching an olive branch and arrows.
The coin is composed of 90% silver and 10% copper, with a diameter of 38.1 mm and a weight of 26.73 grams. The edge is reeded, with 187 reeds.
Mintage of the 1891 Morgan Silver Dollar
The mintage of the 1891 Morgan Silver Dollar was relatively low, with only 8,693,556 coins produced at the Philadelphia Mint and 2,787,250 coins produced at the San Francisco Mint.
Pricing of the 1891 Morgan Silver Dollar
The value of the 1891 Morgan Silver Dollar depends on several factors, including its condition, rarity, and demand. Here are some general price ranges for the 1891 Morgan Silver Dollar:
- Good (G4): $15-$30
- Very Good (VG8): $25-$50
- Fine (F12): $40-$80
- Very Fine (VF20): $60-$120
- Extra Fine (EF40): $100-$250
- About Uncirculated (AU50): $150-$350
- Mint State (MS60): $250-$500
- Mint State (MS65): $500-$1,000
- Proof (PR60): $1,000-$2,000
- Proof (PR65): $2,000-$5,000
Please note that these prices are estimates and can vary depending on the specific coin, its condition, and the market demand.
How to Determine the Value of Your 1891 Morgan Silver Dollar
To determine the value of your 1891 Morgan Silver Dollar, you should consider the following factors:
- Condition: The condition of your coin is crucial in determining its value. Coins that are in better condition, with minimal wear and tear, are generally more valuable than those that are worn or damaged.
- Rarity: The rarity of your coin can also impact its value. Coins with lower mintages, such as the 1891 Morgan Silver Dollar, are generally more valuable than those with higher mintages.
- Demand: The demand for your coin can also impact its value. Coins that are in high demand, such as those with unique characteristics or those that are hard to find, are generally more valuable than those that are readily available.
Where to Buy and Sell 1891 Morgan Silver Dollars
There are several places where you can buy and sell 1891 Morgan Silver Dollars, including:
- Online marketplaces: Online marketplaces such as eBay, Amazon, and Etsy are popular places to buy and sell coins.
- Coin shops: Local coin shops and dealers can also be a good place to buy and sell coins.
- Auctions: Coin auctions can be a good place to buy and sell rare and valuable coins.
- Online forums: Online forums and communities, such as Reddit's r/coins, can also be a good place to connect with other collectors and buy and sell coins.
Gallery of Morgan Silver Dollars
Frequently Asked Questions
What is the value of a 1891 Morgan Silver Dollar?
+The value of a 1891 Morgan Silver Dollar can vary depending on its condition, rarity, and demand. On average, a 1891 Morgan Silver Dollar can be worth anywhere from $15 to $1,000 or more.
How can I determine the value of my 1891 Morgan Silver Dollar?
+To determine the value of your 1891 Morgan Silver Dollar, consider its condition, rarity, and demand. You can also consult with a coin expert or appraiser to get a professional assessment.
Where can I buy and sell 1891 Morgan Silver Dollars?
+You can buy and sell 1891 Morgan Silver Dollars online marketplaces, coin shops, auctions, and online forums.
In conclusion, the 1891 Morgan Silver Dollar is a highly sought-after coin among collectors due to its unique characteristics and relatively low mintage. To determine the value of your 1891 Morgan Silver Dollar, consider its condition, rarity, and demand. You can also consult with a coin expert or appraiser to get a professional assessment.
Gallery of Morgan Silver Dollar 1891 Value Guide
