The 1882 coin value is a fascinating subject for collectors and investors who appreciate both history and precious metal coinage. During this year, the United States Mint produced two highly collectible coins: the 1882 Morgan Silver Dollar and the 1882 Gold Dollar. Each holds unique appeal, with values determined by their condition, mintmark, rarity, and demand among numismatists.
Whether you’re evaluating a family heirloom, considering a purchase, or simply interested in historical U.S. currency, understanding the true value of an 1882 coin requires looking beyond just its face value or weight in precious metal. This article will provide a comprehensive breakdown of the 1882 coin value, with in-depth coverage of Morgan dollars, gold dollars, and the major factors that influence prices.
The Historical Backdrop of 1882 Coinage
Before diving into specific values, it’s important to recognize the era in which these coins were minted. In 1882, America was in the midst of economic recovery from the Civil War and large-scale westward expansion. Silver and gold were central to U.S. monetary policy, and the Morgan Dollar, first minted in 1878, had become the dominant silver coin in circulation.
Meanwhile, the smaller gold dollar coin, minted from 1849 to 1889, was already seeing its role diminish due to practicality—it was too small for daily transactions, making it more of a collector’s item even in its own time.
Both coins from 1882 reflect the artistry, minting practices, and economic priorities of the United States during this era, ensuring their continued value among modern collectors.
1882 Morgan Silver Dollar Values
The 1882 Morgan Silver Dollar is one of the most collectible coins in American numismatics. Designed by George T. Morgan, it features Lady Liberty on the obverse and an eagle with outstretched wings on the reverse.
Values vary widely depending on mintmark, grade, and rarity.
Philadelphia Mint (No Mintmark)
- Circulated examples: Typically range between $45.50 and $63.
- Uncirculated coins: Prices can climb significantly, with some Mint State specimens reaching up to $20,000.
As the Philadelphia Mint produced large numbers of coins, circulated pieces are relatively common. The real value emerges in higher uncirculated grades.
Carson City Mint (CC)
The 1882-CC Morgan Silver Dollar is among the most sought-after due to its limited mintage and association with the historic Carson City Mint, which played a key role in striking Western U.S. silver coinage.
- Circulated coins: Generally range from $100 to $255.
- Uncirculated condition: Can soar to $45,000 or more for pristine examples.
Because of their scarcity and historic appeal, Carson City coins often generate excitement at auctions and coin shows.
New Orleans Mint (O)
The 1882-O Morgan Dollar was struck in New Orleans, a mint often noted for slightly weaker strikes but still beloved by collectors.
- Circulated coins: Worth around $45 to $63.
- Uncirculated coins: Extremely high-grade specimens may reach $40,000.
Certain varieties, such as the overstruck “O/S” mintmark, drastically increase value (discussed later).
San Francisco Mint (S)
The 1882-S Morgan Dollar boasts high-quality craftsmanship, with well-struck details and exceptional luster.
- Lower Mint State grades: Begin around $50.
- MS65 examples: Typically bring over $200.
- Pristine gem examples (MS67 and above): Can climb much higher at auction.
San Francisco coins are generally easier to find in strong uncirculated condition, making them a popular entry point for Morgan collectors.
Rare Varieties and Errors
One of the most famous varieties is the 1882-O/S Overstrike, where an “O” (New Orleans) mintmark was stamped over an “S” (San Francisco) mark.
- These rare varieties have commanded prices as high as $32,900 at auction.
For serious collectors, these error coins are highlights of any Morgan Dollar collection.
1882 Gold Dollar Values
The 1882 Gold Dollar is much rarer than the Morgan Dollar due to low mintages and its relatively small size. Despite containing less gold than larger U.S. denominations, its numismatic value often greatly exceeds its precious metal content.
Circulated Condition
- Average market value usually falls between $225 and $485 depending on grade.
Uncirculated Condition
- Pristine uncirculated 1882 gold dollars, particularly in higher Mint State levels, can fetch upwards of $15,500 at auction.
Unlike the Morgan Dollar, the gold dollar’s rarity lies not only in its age but in the fact that so few were struck and even fewer survived in high-grade condition.
Key Factors That Impact 1882 Coin Value
Understanding what drives the 1882 coin value requires looking at multiple aspects of rarity and collectibility.
1. Mintmark Location and Importance
- CC (Carson City): Always commands high premiums due to history and scarcity.
- O (New Orleans): Known for varieties and errors, often appealing to detail-focused collectors.
- S (San Francisco): Valued for consistent striking quality.
- No Mintmark (Philadelphia): Common, but still valuable in higher Mint State grades.
2. Coin Condition (Grading)
The grading scale, developed by the Sheldon System, plays a pivotal role:
- Good to Fine (G–F): Heavy circulation, modest value.
- Very Fine to Extra Fine (VF–XF): Noticeable details, higher value.
- About Uncirculated (AU): Minimal wear, significantly boosted pricing.
- Mint State (MS60–MS70): No wear, sharp details, high luster, and dramatic value increases.
For an 1882 coin, even a small bump in grade can mean hundreds or thousands of dollars in additional value.
3. Rarity and Mintage
- Lower mintage years and mintmarks (particularly Carson City coinage) naturally increase scarcity.
- Rare varieties and overstrike errors can multiply the value beyond standard examples.
4. Precious Metal Content
- Morgan Dollar: Contains 0.7734 troy ounces of silver, giving it a baseline value tied to silver prices.
- Gold Dollar: Contains 0.04837 troy ounces of gold, though its numismatic value far exceeds bullion value.
5. Collector and Market Demand
Finally, market trends and collector interest can swing the 1882 coin value up or down. Popular mints like Carson City often remain consistently strong in demand.
Recommendations for Collectors
If you’re considering buying or selling an 1882 coin, here are some expert tips:
- Get a Professional Appraisal: Work with a reputable coin dealer or grading service for accurate values.
- Use Price Guides for Reference: Trusted sources like the NGC Price Guide and the PCGS Price Guide provide useful benchmarks.
- Avoid Cleaning Coins: Cleaning can drastically decrease a coin’s value by damaging its natural patina.
- Preserve Properly: Store coins in secure holders to avoid scratching or tarnishing.
- Do Your Research: Before purchasing or selling, understand market fluctuations and rarity factors.
Conclusion: Is an 1882 Coin Valuable?
In short: Yes, 1882 coins are valuable—sometimes extremely so.
- An average circulated 1882 Morgan Silver Dollar may only bring $50–$60, but rare Carson City mint examples or high-grade uncirculated coins can climb well into the five-figure range.
- The 1882 Gold Dollar, while smaller, commands strong premiums due to rarity, with top-level examples worth over $15,000.
- Unique varieties and errors make certain coins even more desirable.
The 1882 coin value ultimately reflects both historical significance and current collector demand. For anyone who owns or plans to acquire one, proper grading and preservation are essential to capturing its true worth.
If you believe you have an 1882 Morgan or Gold Dollar in your possession, the best next step is to consult an expert appraiser and explore its current market standing. You may be holding a fascinating—and potentially very valuable—piece of American history.
