For centuries, people all over the world have enjoyed collecting coins. What motivates coin collectors is the history, significance, and value of each coin and their ongoing search for coins to acquire, evaluate, and store.
The remarkable 1880 Morgan silver dollar, made of 90% silver and only 10% copper, is known as the “King of Collectors” coin. Because the value of the 1880 Morgan silver dollar fluctuates over time, it is a valuable addition to any collection. Read on to find out why they are so valuable and how to the value of each coin.
Morgan Silver Dollar History
By the end of the 19th century, the US economy was suffering from the Depression and was in danger. The currency at the time was called Spanish Pieces of Eight. The US government decided that now was the perfect moment to establish the US dollar as a new currency. In doing so, they aimed to stimulate the economy and encourage Americans to spend more money.
Following the Bland-Allison Act in 1878, the US Treasury bought silver for between $2,000,000 and $4,000,000 and began issuing new currency from that year until 1904. Due to a scarcity of silver, the procedure was terminated. In 1921, they were made one more time before they were permanently discontinued.
The one-dollar coins during this time came from a few different US mints, and today they all have different attributes and values. The coin was named after the Mint engraver George T. Morgan.
|San Francisco||1880 S||8,900,000||$23|
|New Orleans||1880 O||5,305,000||$24.85|
|Carson City||1880 CC||495,000||$98|
Features of Morgan Silver Dollar Coin
Regardless of the year they belong to; all Morgan silver dollars have specific attributes:
- They were all designed by George T. Morgan.
- They weigh 0.858 troy ounces (26.68 g)
- Each coin contains 90% silver and 10% copper.
- They have a $1 face value. The thickness of the coins is 0.09 inches, and their diameter is 1.5 inches (38.1 mm) (2.4 mm)
- The reverse design features an eagle with spread wings, an arrow, and an olive branch alongside the words THE UNITED STATES OF AMERICA, IN GOD WE TRUST, and ONE DOLLAR.
- The obverse features a portrait of Liberty facing left with the words E PLURIBUS UNUM above her head.
Some coins have a mint mark carved beneath the wreath on their backside. It stands in for the mint that created them.
1880 Morgan Silver Dollars
Since every mint produced a different number of coins in the same year, their values will vary depending on where they were made. For instance, four different 1880 Morgan silver dollar varieties made by four US mints are easily identifiable.
No Mint Mark 1880 Morgan Silver Dollar
Compared to earlier minting years, only 27,397,355 coins of the 1880 Morgan silver dollar were produced. That immediately influences the value of these coins, as you would have guessed.
The fact that the 1880 Morgan dollar was minted incorrectly is another factor making it more collectible. To save money, it was justifiable and done on purpose. Due to the high cost of minting new coins for the next year, all mints overprinted the 1879 Morgan silver dollar with the 1880 version.
By examining the two final digits of the date-year, you can spot that overdate. Look for the portion of the number 7 that is visible beneath the number 8. The next step is determining if the number 9 is visible beneath 0. These traces are generally evident since they only imprinted the 80 above 79.
Keep in mind that this coin is an extremely valuable and collectible piece of American history, not a fake. Due to its value typically being higher than other Morgan dollar coins, you could even make more money.
1880 S Morgan Silver Dollar
The price of silver directly influences the value of 1880 S Morgan silver dollars, but their survival rate, present condition, and grade are more significant factors. Although 8,900,000 of these coins were made by the San Francisco mint in 1880, the majority are no longer in existence or are in dismal condition.
The coin may therefore be purchased for about $30 in good condition, but when it is graded MS 65, its value rises to nearly $27,000. Be cautious whenever you buy it because it is one of the most often counterfeit American coins.
1880 O Morgan Silver Dollar
Most of this year’s mintage of 5,305,000 Morgan dollars in New Orleans entered the market immediately. All 1880 O Morgan dollars graded at MS 65 are, therefore, renowned conditional rarities and some of the set’s most expensive coins. Eight 1880 O Morgan silver dollars were graded by PCGS at MS 65, with only two at MS 66. Due to their widespread use, many coins are only worth $30, while those in certified MS 65 condition are worth over $22,000. One of them achieved a $41,125 auction record. You shouldn’t expect to find this coin on the market very frequently.
1880 CC Morgan Silver Dollar
Collecting Morgan silver dollars with the CC mint mark is relatively easy because the market always has access to most of the 13 distinct CC Morgans, including the 495,000 pieces produced in 1880.
Your ultimate pricing will depend on the coin quality, but the total cost will be less than $15,000. For instance, 1880 CC Morgan silver dollars in good condition can be purchased for a little more than $150, while coins graded MS 65 can cost up to $1,300.
If rare coins are your preference, consider the following:
- 1880 CC silver dollar with 8/7 reverse of 1878
- 1880 CC silver dollar with 80/79 reverse of 1878
- 1880 CC silver dollar with 8/high 7
- 1880 CC silver dollar with 8/low 7
1880 Morgan Silver Dollar Value
As you might have guessed, the condition and appearance of the 1880 Morgan silver dollar determine its value. The preserved ones are significantly more expensive than the worn-out and used items. Uncirculated coins are highly prized and typically have a high value.
Coins that are good or very good have the lowest prices because they have numerous blemishes, stains, and marks. They have a soft color that isn’t particularly shiny. At least two-thirds of Liberty’s hair should be visible in fine and very fine estimation.
In contrast, an extremely fine grade indicates that the Liberty face and lines are well-preserved and that the ear and hair lines are distinct. You will be pleased to learn that you will almost double your money compared to the highly regarded coin in this situation.
Coins with a mint state of 60 indicate that they have never been used. Although it occasionally has surface stains or marks, it is still in excellent condition. Although the coin is in better condition than MS 60 coins, mint state 65 indicates that it was also not in circulation. It always has a more substantial luster and appears much better.
|1880 Morgan Silver Dollar Value By USA Coin Book|
|Quality||1880||80 over 79||1880 S||1880 O||1880 CC|
|Mint state 60||$60||$551||$60||$107||$551|
|Mint state 65||$502||$1361||$200||$27,973||$1,361|
Morgan Silver Dollars Melting
The Big Melting is a critical factor in why 1880 silver dollars are so renowned and priceless in the world of collectors. The US Government decided to assist Britain in 1918 to resolve the crisis to prevent baking bankruptcy and riots in India.
The Pittman Act mandated the melting of 350 million silver dollars on April 22, 1918. They then traded silver for one dollar per troy ounce with Britain. Due to the melting, Morgan’s silver dollars became rare. As a result of their increasing rarity, particularly in fine condition, the Morgan silver dollar’s value increased among collectors.
Exercise caution when buying or selling 1880 Morgan silver dollars because many factors can affect the price. Although you can’t put a price on sentimental value, some of them have it. However, these coins are a priceless piece of American history and will always be sought-after collectibles.