Are you lucky enough to get a hold of one of these coins? If you are then you are probably asking yourself – what’s the 1889 Silver Dollar value? Luckily, you are at the right place at the right time. That’s what we’re here to find!
The 1889 Morgan silver dollar is one of a very popular series of $1 coins among collectors. These coins were made of 90% silver and 10% copper which makes them a safe investment from the start. Each one weighed a little under 27 grams so they can fetch you a nice amount of money even as junk silver!
Morgan dollars were first minted in 1878 and the last series was minted in 1904. Due to the fact that these coins are over 100 years old, and made from precious metal, their value is undoubtedly high. Just look at their worth in weight in silver and you’ll figure out why collectors are crazy over these coins.
However, there is a major difference between the prices of uncirculated and circulated coins. For instance, the 1889 Morgan Silver Dollar in the circulated condition is estimated to be worth between $35 and $345, while those in mint state are $35,500.
A lot of circulated coins are still in good condition and suitable as collecting examples. Here is the list of the top 3 common coins worth investing in:
Step this way if you are eager to learn more!
Why Is The 1889 Morgan Silver Dollar Coin Special?
There are a few reasons why these coins hold such high value and why numismatics consider them as special. First of all not many coins were minted in Carson City and New Orleans Mint facilities. All coins that are carrying these mint marks are considered rare gems, and one among them is the 1889 Morgan silver dollar.
Also, Morgan dollar coins were the first silver dollars minted after the legislation act which had the purpose of controlling the issue over the number of silver coins in production. So instead of being produced as and when needed, the number of silver coins was limited to agreed totals. This gives them a significant historical value being the first among many.
Lastly, some variations of the 1889 coin, like those with “prooflike” and “deep mirror prooflike” finishes, are scarce and regarded by collectors as being unique.
Price Guide For Common 1889 Morgan Silver Dollar Coins Worth Investing
Even though if you look at the minting volume these 1889 Morgan Silver Dollars are relatively common coins, therefore, not considered particularly rare, they are regardless very valuable.
However, the value can vary depending on the coin’s condition, rarity, and demand. Morgan silver dollar coins are generally worth more than their silver content due to their historical background. So let’s dive in and find out more.
In the table below we enlisted regular, as well as error varieties, and their current prices on the coin market.
1889 no mint mark Morgan Silver Dollar coin value
Morgan silver dollars that were minted in Philadelphia come without a mint mark, which is placed on the reverse side. The mintage volume was massive, over 22 million coins were released into circulation. They are still relatively easy to find.
Generally speaking, Morgan dollars are pretty expensive coins. What dictates their price is the quality and condition. The good thing is that even at higher grades, these coins can still be found, usually with the grade MS63, which costs from $130 and up.
Even a circulated coin, worth around $50, thanks to the silver content that can be melted. Collectors will pay premium prices for coins that are “prooflike”, or “deep mirror prooflike”.These coins sell from $175 to $450.
An 1889 Morgan dollar from Philadelphia in the mint state can bring you a large sum of money. The best example is 1889 Morgan Silver $1 with grade MS68 sold for $74,750.
1889-S mint mark Morgan Silver Dollar coin value
In 1889 San Francisco minted around 700,000 Morgan silver dollars was minted, which is a considerably smaller amount compared to the previous mint facility. This makes them much rarer and therefore more valuable. You’ll recognize them by the “S” mint mark on the reverse side of the coin.
A circulated 1889-S Morgan $1 will be worth at least $130. While those in a mint state, or “prooflike” and “deep mirror prooflike” coins will sell for premium prices. For instance, a coin with grade MS63 is estimated to be worth over $500. If it’s “prooflike” the coin will be worth about $800, and the “deep mirror prooflike” variety will sell for over $2,000. The auction record for an 1889-S with grade MS65 was a price tag of $38,812.
1889-O mint mark Morgan Silver Dollar coin value
Morgan Silver dollars with an “O” mint mark on the reverse side were minted in New Orleans. Here almost 12 million coins were struck and released into circulation. That high mintage volume keeps prices relatively modest for coins in circulated condition.
An 1889 Morgan silver $1 in extremely fine circulated condition is estimated to be worth around $60. Coins in the mint state as well as “prooflike” or “deep mirror prooflike” varieties will cost significantly more. For instance, an MS64 1889 $1 will be worth around $1,000 apiece. The auction record is a price tag for 1889-O MS65 $1 which fetched $84,000.
1889-CC mint mark Morgan Silver Dollar coin value
In 1889 a Morgan silver $1 was also minted in the Carson City facility. These coins carry a “CC” mint mark and were produced in a very modest mintage volume of only 350,000. That means, finding this over the 100-year-old coin in good condition is pure luck.
Even circulated coins with “CC” mint mark will cost four figures. A coin in extremely fine condition sells for at least $5,000, and as usual, coins that are “prooflike” or “deep mirror prooflike” go over $5,000 easily. A good example of how valuable this coin is even in lower grades is MS63 1889-CC $1 sold for $75,000!
However, the auction record goes to 1889 Morgan Silver $1 with grade MS68 which was sold for $531,875!
Most valuable 1889 Morgan Silver Dollar coins on the coin market
The Main Features Of The 1889 Morgan Silver Dollar Coins
The design for this unique coin was composed in 1878 by a designer named Morgan from London, which had a role of Assistant Engraver in the US Mint. However, his design was inspired by the beauty of Lady Liberty.
This is why you’ll find a portrait of Lady Liberty on the obverse side of the coin. This design also provided some continuity with the previous dollar design – the Standing Liberty. A fun fact is that he based his image of Liberty on a woman called Anna Willess Williams.
The image of Liberty is surrounded by 13 stars, one for each founding state. If you look at the bottom, you’ll find a minting date engraved following the rim of the coin. On the top side of the coin Latin motto, “E pluribus unum” which means “From the many, one” was engraved. This motto refers to the unbreakable bond and unity of the states.
On the reverse side of the coin, you’ll find an image of the American bald eagle. The eagle is standing on the bundle of arrows, with wings fully outstretched. He is circled with wreath made of two olive branches. The first edition of Morgan Dollar had an eagle with eight tail feathers. However, this was changed to seven tail feathers the following month.
Alongside the rim of the coin the “United States of America” is engraved, while the denomination “One Dollar” is placed at the bottom rim. Also, the motto “In God we trust” is written above the eagle’s head in the Gothic script which was unusual for that time.
An 1889 Morgan silver dollar is minted on a planchet made from 90% silver and 10% copper. Keep in mind a real coin has a reeded edge! This coin was minted in four mints – Philadelphia, San Francisco, Carson City, and New Orleans.
List Of Errors Found On 1889 Morgan Silver Dollar Coins?
Error coins are an inevitable occurrence in the minting process. Even today, when technology evolved, you’ll come across a coin with a flaw. Now, we all know that back in the day, coins were partially minted by hand as well, so errors were in abundance.
These errors are very valuable and unique, and a lot of collectors are willing to pay large amounts of money for them, Here is the list of the most common minting errors found in the 1972 Lincoln Penny series. Read on to learn more.
- 1889 Morgan Silver Dollar off-center strike error – An off-center error occurs when the coin isn’t struck in the exact center of the blank planchet. The result is an image that is out of alignment with the edge. These error coins are worth a few thousand dollars, the highest price was achieved on auction and the coin was sold for $6,462.
- 1889 Morgan Silver Dollar double strike or incomplete strike error – This unique error occurs when the coin is struck twice by the dies. As a result, we get a design that is doubled or overlapped. On the other hand, we can also end up with a coin that has a weak strike or an incomplete strike. This happens when the dies fail to fully stamp the design. These error coins are very rare and valuable.
- 1889 Morgan Silver Dollar clipped planchet error – When you incorrectly place a blank planchet into the coining press chances are high it will come out as a clipped planchet error. This is when a portion of the edge is removed by the machine so it looks straight.
- 1889 Morgan Silver Dollar die break error – When the striking die break, the design ends up deformed or with gaps in it. This is called a die break error and it is not so uncommon or valuable as some other errors.
- 1889 Morgan Silver Dollar die crack error – When the dies used to strike the coins fracture but do not break off completely it causes a deformed design. Some pieces of coin end up missing as well.
- 1889 Morgan Silver Dollar repunched mint mark error – This one is logical. When the mint mark is punched onto the die at least two times, and usually multiple times, it appears doubled or ends up overlapping. This is known as a repunched mint mark error and it is pretty popular among collectors.
Where Can You Trade Valuable 1889 Morgan Silver Dollar Coins?
Now is the time to learn the difference between where you can and where you should trade your coins! When it comes to selling and buying old coins made from precious metals you can never be too much careful
The reason is that these coins hold not only a historical value, they also have a bullion value – meaning they are always worth more than their face value due to the melt value of precious metal they are made of.
You have two options – trade online or trade in person. If you choose to trade in person make sure you visit a specialized coin shop, pawn shop, or some specialized coin show where you’ll work with professionals.
In case you are willing to try your luck on the Internet, make sure you choose a reliable dealer. Here is our list of auction houses and coin web pages that are proven and reliable – Heritage Auctions, PCGS, Coins For Sale, Stack’s Bowers, or Littleton Coin Company.
If you want to get informed about the price ranges, supply, and demand, the best place to look for that information are web pages like eBay, Etsy, and LiveAuctioneers. However, if you tend to buy coins here make sure you look for feedback, comments, or anything else that can help you find out if the seller is reliable.
FAQ
Where is the mint mark located on the 1889 Morgan Dollars?
Even though most coins carry a mint mark on the obverse side, the Morgan dollar is a different case. You’ll find an “O”, “CC”, or “S” mint mark on the reverse side, or no mint mark at all if the coin is minted in Philadelphia. The symbol is placed close to the wreath of olive branches that encircles the eagle.
Which Morgan Dollar coins are worth collecting?
The price and value are always determined by various factors such as – rarity, quality, condition, grade, historical background, minting material, and a number of variables. That leads us to the conclusion that some series of Morgan silver is more valuable than others.
The 1889 Morgan silver dollar is unquestionably prized among collectors, there are some Morgan silver dollar years that are even more valuable. Those are 1893, 1895, and 1896. These minting years have low mintage numbers and their price are conditioned by the rarity.
There Are Over 531,875 Reasons Why You Should Look For 1889 Morgan Silver Dollar
Collecting silver coins is a very profitable hobby, due to the fact that these are very popular among collectors. Also, since they are made from silver you’ll rarely be at risk of losing money considering they will be worth more than a face value no matter the condition.
Surely one of the most popular silver coins among collectors is the Morgan silver dollar so why wouldn’t you challenge your luck and try collectem all?
Hopefully, this article answered some of your burning questions about the 1889 Silver Dollar value. We have high hopes that it will help you figure out how to handle your precious coins and where you can trade them risk-free.
In case you know some information that we didn’t mention here, please do not hesitate to share your opinions and advice in the comment section below. Good luck and happy hunting!
