The value of an 1888 U.S. dollar coin varies significantly based on several factors, including the mint where it was produced, its condition or grade, and any unique varieties or errors.
Here’s a breakdown of the value of 1888 dollar coins:
- 1888 Morgan Silver Dollar (Philadelphia Mint, no mint mark):
– Circulated condition: Generally ranges from $45.50 to $63, with some sources listing values as low as $30.
– Uncirculated condition: Can fetch as much as $18,500.
– Average Grade: 63.
- 1888-O Morgan Silver Dollar (New Orleans Mint, “O” mint mark):
– Circulated condition: Valued between $45.50 and $63, with some sources listing values between $35 and $100.
– Uncirculated condition: Can reach prices as high as $13,750.
– “Hot Lips” Variety (VAM-4): This error coin features doubled lips on Liberty’s profile, a result of a misaligned double strike.
– Circulated (VF-XF): $300 – $400.
– Uncirculated (MS-60): Can reach $12,000.
– Top Grade (MS-62): Around $20,000.
– “Scarface” Variety (VAM-1B): This variety features a prominent die break that resembles a scar on Liberty’s face.
– Mid-grade examples: Can reach hundreds of dollars.
– High-grade examples (MS-64): Extremely rare and command top prices at auction.
– Examples include one certified by PCGS as UNCIRCULATED MINT STATE 63/64 sold for $10,800 on eBay, and another PCGS MS63 coin with CAC certification sold for $24,979.96.
- 1888-S Morgan Silver Dollar (San Francisco Mint, “S” mint mark):
– This is the rarest of the 1888 Morgan Dollars due to a low mintage of 657,000 coins.
– Circulated condition: Worth between $70 and $350, with some sources listing Good condition coins for $50 – $60.
– Uncirculated condition: Starts at around $300 and can reach thousands.
– Pristine uncirculated condition: Can sell for as much as $31,000.
– Market dynamics show that rarity drives the price of these coins even in lower grades.
- 1888 Gold Dollar (Philadelphia Mint, no mint mark):
– Circulated condition: Valued between $225 and $425.
– Uncirculated condition: Can sell for as much as $19,500.
– Average Grade: 63.
- Mint Mark: The mint where the coin was struck significantly impacts its value. The “S” mint mark (San Francisco) is the rarest and therefore the most valuable.
- Condition/Grade: Uncirculated coins, especially those in high Mint State (MS) grades, are the most sought-after and expensive. The table below provides a general price guide based on coin condition.
- Rarity and Variety: Error coins and certain varieties, such as the “Hot Lips” and “Scarface,” can fetch significantly higher prices.
- Mintage: Lower mintage numbers generally lead to higher values.
- Learn how to identify key value factors, including mint marks and varieties.
- Consider collecting strategies like a date set (all three mints) or focusing on specific varieties.
- Look for top-quality coins, especially those graded MS65 or higher, as their value is likely to increase with age.
- Deal with reputable dealers or auction houses to ensure authenticity.
- Never clean old silver dollars, as it can damage the coin and decrease its value.
- Monitor silver prices and stay informed about market trends.
How much is a dollar in 1888 worth today?
Thanks for asking. $1 in 1888 is equivalent in purchasing power to about $33.84 today, an increase of $32.84 over 137 years. The dollar had an average inflation rate of 2.60% per year between 1888 and today, producing a cumulative price increase of 3,283.84%.
How can I tell if my 1888 silver dollar is real?
Thanks for asking. If the newly purchased coin does not meet the standard diameter (38.1mm) and standard weight (26.73 grams), it’s counterfeit. If you determine the coin you purchased is counterfeit, use the return policy of the platform on which you purchased the fake to return it and be reimbursed.