The first American silver dollars with an appealing design were the Morgan silver dollars, produced between 1878 and 1904. These coins, made at four mints—Philadelphia, New Orleans, Carson City, and San Francisco—remain collectible and incredibly well-liked.
The condition of each specimen and the mint mark will determine the price of an 1882 Morgan silver dollar. Due to low production that particular year, coins produced in Carson City and proofs made in Philadelphia are uncommon and always expensive.
Additionally, finding a piece in mint condition is difficult because the vast bulk of coins was circulated for many years.
1882 Morgan Silver Dollar History
Before the Coinage Act of 1873, silver owners could collect as much silver as they wished and deliver it to mints to be printed into legal tender. As a result, too many silver dollars were made and circulated in the market.
The silver dollar ultimately lost value as inflation increased. The 1873 Coinage Act was enacted to demonetize silver bullion and end the free coinage of silver. So, in 1876, the mint’s director embarked on a mission to redesign all of the country’s silver coins in circulation.
The mint director began looking for skilled sculptors to aid in creating and executing the new minting plans. After that, the Philadelphia mint assigned George Morgan to the project as an assistant engraver.
Morgan produced engravings superior to those of the chief engraver at the Philadelphia Mint. In 1878, he developed the first workable strike at the Philadelphia mint, which he showed to the president, treasury secretary, and mint director. At the end of the 19th century, the iconic dollar was designed to represent the nation’s rapid industrialization and expansion.
Features Of The 1878 Morgan Silver Dollar
What sets Morgan silver coins apart from other kinds of silver coins? The subtle, distinctive characteristics of the currency are the first thing that every coin collector will notice.
The image on the coin is a profile bust of a symbolically significant Miss Liberty. Philadelphian teacher Anna Williams was chosen as the official model for the Liberty portrait.
On the reverse, Miss Liberty’s likeness looks to the left. She is donning a “LIBERTY” hair band over her head. Her hair is made up of curly strands overlapping her collar and curved downward. Above Liberty’s head, E PLURIBUS UNUM is inscribed along the coin’s upper rim, with two glaring dots separating the three words. Just below Liberty’s neck, along the lower rim, is inscribed the coin’s mintage year, “1878.” The 1878 Silver Dollar’s obverse also features 13 stars.
The coin’s center features a picture of an eagle with wings spread out on the coin’s reverse side. The eagle is perched atop an olive branch and a couple of arrows. The phrase “In God we trust” is calligraphed directly above the perched eagle and is situated on a floral wreath on its wings.
The words “UNITED STATES OF AMERICA” are written in curved letters along the upper rim. Along the lower rim of the coin and under the ribbon is block lettering that reads, “ONE DOLLAR.” The 1882 silver coin’s reverse face also features two identical stars.
On each side of the silver dollar, there are three important slogans. They include the following:
E PLURIBUS UNUM
The Latin phrase means “one out of many.” The phrase, seen on many US coins, describes how many states united to form a unitary state.
IN GOD, WE TRUST
An expression that Americans used, particularly during the American Civil War, to express their fervent religious beliefs
This popular catchphrase and guiding principle emphasize the importance of the people’s liberties.
The mint mark is a defining characteristic that distinguishes coins and shows where they were made.
Morgans were produced in 1882 by four mints. As a result, the following coins have various mint marks below the wreath that is positioned beneath the eagle feet on the reverse:
- There is no mint mark on coins produced in Philadelphia.
- S for pieces produced in San Francisco
- O for coins minted in the New Orleans mint
- CC for the Carson City mintage
Weight And Dimensions
In contrast to other coins, such as the Wheat Penny or the Lincoln Wheat Cent, the 1884 dollar is a composite of two silver pieces. It weighs 26.73 grams and measures 38.1 mm in diameter.
A silver dollar from 1878 contains 90% silver and 10% copper.
|1882 Morgan Silver Dollar|
|Compound||90% silver and 10% copper|
|Coin weight||0. troy ounces (26.73 g)|
|Silver weight||0.77344 troy ounces (24 g)|
|Coin diameter||1.5 inches (38.1 mm)|
|Coin thickness||0.09449 inches (2.4 mm)|
1882 Morgan Silver Dollar Types
Many people are unaware how much cleaning the collectible coin lowers its price. Because they are typically washed and improperly cleaned, you should avoid low-grade specimens with highly reflective surfaces.
1882 CC Morgan Silver Dollar
This coin was valuable because only 1,133,000 Morgans were produced in Carson City in 1882 and were out of circulation for a long time. The rarest date remained rare after the 1970s mass sales of 605,000 pieces.
Due to excessive abrasions that developed after eight decades of storage in large canvas bags, their price may be lower than expected. The most expensive example in MS 65 grade was auctioned off for $46,000.
1882 O Morgan Silver Dollar
In 1882, New Orleans produced 6,090,000 Morgan silver dollars, but they all had weak strikes. Despite that flaw, the cost of these coins is not cheaper than that of specimens produced by other mints. The MS 65 grade piece is surprisingly expensive, and the MS 68+ bid at an incredible $108,688, breaking the auction record.
1882 S Morgan Silver Dollar
Depending on their condition, preserved Morgan dollars from the San Francisco Mint of 9,250,000 pieces in 1882 are worth anywhere between $30 and $200. Even the most costly MS 68+ coin sold at auction was worth only $27,025.
Error 1882 Morgan Silver Dollar O Over S
This error coin was the first American coin produced in the US Mint with an over-mint mark and one of the most popular Morgan silver dollar coins ever made. The issue first surfaced at the Philadelphia mint towards the end of 1881.
A few dies with San Francisco mint marks on the obverse of the 1882-O/S Morgan dollar were accidentally overpunched with the O mint mark that belonged to the New Orleans mint while being produced. As a result, the mint mark O was struck over the letter S on an O silver dollar.
On the coin market, pieces in lower grades occasionally show up, but those in superb condition are uncommon. High-grade specimens are expensive, so you should budget up to $10,000 for the MS 65 piece.
1882 Morgan Silver Dollar Grading
The Morgan silver dollar, made between 1878 and 1921, is the coin with the longest circulation history in the US Mint’s history. Many collectors regard its intricate design as the best and most favored of all the silver dollars made in America. With the Morgan coins, too many factors can influence their value, making it challenging to make an educated guess without seeing a specific coin.
It is wise to have an 1882 Morgan silver dollar evaluated before buying it. Coins that have been graded are typically worth more.
When you dealing with a coin that is more than 100 years old, the first thing you should do is examine it for damage. Although having it graded by a professional is the best option, you can also perform a basic inspection yourself.
Uncirculated – Because this Morgan silver dollar was never in circulation, it still has its original texture, luster, and fine details. All the features, including Lady Liberty’s chin, neckline, and hair around the ear, are unaltered except for minor contact abrasions with other coins.
Extra fine – The first place with a smooth and dull texture is Lady Liberty’s chin and the hair strands around her ear. That indicates that the coin was in use for a while. While this specimen is still a great and less expensive option for the coin in uncirculated condition, only close inspection will reveal light indications of wear over fine details.
Fine – Such a coin was in circulation for longer but suffered little physical damage. There is a moderate loss of detail, light surface scratching, and a worn-down texture. The deepest lines are now hidden by merged hair, leaving only the outlines of wheat ears and cotton blossoms.
Good – The surface of a Good grade Morgan dollar has many dings and chips from years of circulation, and the design is mostly flattened. The coin rim is mostly gone, and Liberty’s forehead, hair, and cheek are almost entirely joined to the cap. Although most collectors would not pick this specimen as their first choice, there are times when it is their only option.
|1882 Morgan Silver Dollar Value*|
|Quality||1882 CC||1882 O||1882 S||1882 O over S|
|Good||$143 to $179||$40.5 to $52||$40.5 to $52||$40.5 to $52|
|Very good||$156 to $195||$46 to $57||$46 to $57||$46 to $57|
|Fine||$176 to $211||$48.5 to $58||$48.5 to $58||$48.5 to $58|
|Very fine||$182 to $250||$49 to $59||$49 to $59||$54 to $65|
|Extra fine||$221 to $277||$51 to $61||$51 to $61||$58 to $78|
|AU||$364 to $429||$57 to $75||$57 to $75||$74 to $188|
|MS 60||$455 to $500||$68 to $81||$68 to $81||$260 to $292|
|MS 61||$455 to $500||$74 to $88||$68 to $81||$266 to $300|
|MS 62||$455 to $500||$88 to $94||$72 to $86||$292 to $325|
|MS 63||$455 to $500||$94 to $108||$99 to $104||$358 to $422|
|MS 64||$514 to $551||$130 to $150||$115 to $128||$780 to $910|
|MS 65||$682 to $785||$618 to $942||$240 to $260||$8,750 to $10,100|
|MS 66||$1,440 to $1,650||$3,250 to $6,250||$422 to $486||/|
|MS 67||$5,620 to $9,750||$31,200 to $36,000||$1,220 to $1,370||/|
|MS 68||/||$60,000 to $78,000||$3,750 to $4,880||/|
Where to Get Or Sell 1973 Half Dollars?
The most valuable coins are available on eBay. In addition to thousands of different types of coins, the website provides a broad range of purchasing options. The sizes and shapes of coins vary greatly.
Using third-party grading services, you can purchase certified coins on eBay. These businesses will grade your coin and authenticate it. You can then choose the level of authentication that best meets your needs. eBay is a great place to start your search because it has a huge selection of collectible coins and is easy to use.
It’s also possible to list your item and wait for offers from other users; the process is fairly straightforward. You can also sell your coins on unofficial websites like eBay Classifieds or Craigslist.
However, because these third-party services typically attract fewer buyers and may take significantly longer to list your item, they may not be as reliable as selling directly on eBay.