The value of an 1884 Morgan silver dollar varies significantly depending on its condition (grade), mint mark, and overall rarity.
- Condition/Grade: This is the most crucial factor. A coin in pristine, uncirculated condition (Mint State or MS) is significantly more valuable than one that has been circulated and shows wear. The grading scale for coins ranges from 1 (Poor) to 70 (Perfect Uncirculated).
- Mint Mark: 1884 Morgan dollars were minted in several locations, each identified by a mint mark (or lack thereof for Philadelphia):
– P (Philadelphia): No mint mark is present for coins minted in Philadelphia. These are relatively common.
– O (New Orleans): Coins minted in New Orleans can be harder to find in higher grades due to weak strikes.
– CC (Carson City): Carson City minted coins are generally more valuable due to their lower mintage numbers.
– S (San Francisco): Uncirculated coins from the San Francisco mint are particularly sought after in uncirculated condition, as many were circulated immediately.
- Rarity/Errors: Certain rare varieties or errors in the minting process can significantly increase a coin’s value, for example, doubled dies or clashed dies.
- Melt Value: Morgan silver dollars contain 90% silver, giving them an intrinsic “melt value” based on the current price of silver. As of August 17, 2025, the spot price of silver is around $38.21 per ounce. An 1884 Morgan dollar contains 0.77344 troy ounces of silver.
- Circulated: An 1884 Morgan dollar in circulated condition generally falls between $45 and $63, according to the [NGC Price Guide].
- Uncirculated: Prices for uncirculated coins can range from around $41 to much higher, with pristine examples (MS65 or higher) commanding thousands of dollars.
- High-End Examples: Exceptional examples, such as an 1884-CC Morgan Silver Dollar graded MS66+ by PCGS, can be priced around $2600.
These are general ranges, and the actual value of your specific coin can only be determined by a professional appraisal from a reputable coin dealer or grading service. Local coin experts can be found by searching for “expert coin valuation near me”.
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