One of the most well-known coins ever produced by the US Mint is the “Morgan silver dollar.” Between 1878 and 1904, as well as for one more year in 1921, the Morgan dollar was minted. They bear the name George T. Morgan, who designed them. The price of an 1890 Morgan silver dollar ranges from $20 for coins in good condition to $120 for uncirculated coins. The $1 coin is a 91.67 percent fine and contains—77344 ounces of pure silver.
Because the coin’s interior is made entirely of fine silver, no base metals have been added. The metal would cost about $11 per ounce if sold as raw silver. A Morgan dollar’s value is influenced by its condition, scarcity, and whether a third party has graded it.
Find the history, features, and prices of 1890 Morgan silver dollars in this post.
What is The 1890 Silver Dollar Coin?
1890 The Morgan silver dollar is a member of the Morgan silver dollar family. The coin was created in 1890 by the US Mint based on an illustration by English engraver George T. Morgan. Morgan had his girlfriend, Anna Willess Williams, pose as Liberty.
The total weight of a Morgan silver dollar is 26.73 grams, and its diameter is 38 mm. Morgan silver dollars are 90% silver and 10% copper alloy. Since their inception, Morgan silver dollars have been commonly used in the US for all financial transactions involving one-ounce assets. The federal mint no longer produces the coins, but you can still buy them at coin shops or auctions. They also have numismatic value depending on their condition.
Reason For Minting
The 1890 silver dollar was produced to compete with foreign trade dollars, which were accepted everywhere goods were bought and sold. President Grover Cleveland and Congress were under pressure from coin collectors to approve the dollar coin. They claimed at the time that the trade dollars had a value greater than a dollar in some locations.
However, the United States did not win the contest because most states continued to accept their coins rather than the Morgan dollar.
When the 1890 Morgan silver dollar was added to the Smithsonian Museum’s National Numismatic Collection, it had a special place in history. Many coins were removed from circulation in 1913 with the establishment of the Federal Reserve.
From 1873 to 1935, there were even more years during the Great Depression when no silver dollars were produced. The Smithsonian received its first 1890 Morgan silver dollar directly from the currency distribution division of the Treasury Department sometime after 1935. The mint donated the coin after it was saved from melting down.
The cost of silver increased in the United States in 1873. As a result, the government decided to halt silver dollar production. Simply put, silver was too expensive for commercial transactions.
The price of silver then dropped once more in 1877. Congress attempted to maintain the use of the Morgan dollar in 1878 by demonetizing it for commercial transactions while allowing its use for private holdings.
As a result, people could accumulate these coins instead. Since the coins were no longer acceptable as currency or for use in business transactions, hoarding could keep them out of circulation. Because people hoarded the coin, it continued to be used by the general public even though it was no longer legal tender.
The minting of this coin ended in 1904 when the government changed the Morgan silver dollar’s composition.
After that year, they were no longer minted, but in 1921, people bought them privately and hoarded them. Due to this, a few Morgan silver dollars continued to be in use well into the 1940s, making them still valid for payment. And even though they are no longer in use, these coins continue to be valid forms of payment.
Features Of 1890 Morgan Silver Dollar Coin
Between 1878 and 1904, the Morgan silver dollar was produced, with the final year of production being 1921. The one-dollar coin’s distinctive design is made up of several elements. Its front side features a female portrait called “Liberty,” who is wearing a Phrygian cap and has her hair tied back into a bun with feathers on each side of her face. An
An American eagle with a cluster of arrows on its right claw is depicted on the coin’s reverse side. Here are other details on the coin:
Portrait On The 1890 Morgan Silver Dollar
The United States Mint held a competition to find design concepts for a new silver dollar. Designer George T. Morgan won the $2,500 prize-money competition. Morgan used Anna Willess Williams, his girlfriend, as a model for Liberty. As a result, he depicted Lady Liberty on the obverse of this coin while wearing a wreath that read “Liberty” and was pearl-studded.
A left-facing image of Lady Liberty is depicted on the front, or “obverse.” To make her look as realistic as possible, the artist, George T. Morgan, gave the figure rounded edges and shading. She wears a crown that reads “LIBERTY.” She also carries in her left arm oak and laurel branches, which are emblems of civil and military glory.
The “UNITED STATES OF AMERICA” inscription and design features (letters, stars, and date) surround the portrait.
On the back, or “reverse,” there is a decorative eagle with its wings spread and 13 stars, which stand in for the original 13 states. The eagle holds an olive branch in its beak, a sign of peace, and war-themed arrows in its talons.
An inscription, E PLURIBUS UNUM, is between its head and tail, which means “one out of many.” The base of the shield, which the eagle holds in its left talon, has the denomination (ONE DOLLAR).
At the bottom of the coin, a laurel wreath surrounds the face value and the coin’s silver content.
The 1890 Morgan silver dollar bears the “P” mintmark of the Philadelphia Mint, indicating that it was produced at the US Mint’s main facility in Philadelphia, Pennsylvania. Some of these coins were also produced by the San Francisco Mint, but they are scarce. Only three coining presses were operating for the US government then, and more were required to meet the demand for silver dollars.
Weight, Dimensions, and Metal Content of 1890 Silver Dollar
The coin is redder in color than the nickel dollars we are accustomed to because it is made up of 90% silver and 10% copper.
The 1890 silver dollar weighs 26.73 grams and measures 38 mm in diameter.
Value Of Coin 1890 Morgan Silver Dollar
The 1890 silver dollar has a one-dollar denominational face value, and you can read that on the back of the coin.
How Much Is An 1890 Silver Dollar Worth?
The price of the coin ranges from $20 to $2000. However, the value of a Morgan silver coin is determined by its rarity and condition.
What Is The Value Of The Metal In An 1890 Morgan coin?
The 1890 silver dollar is made up of 90% silver and 10% copper. This coin has a 38 mm diameter and weighs 26.73 grams. So, each coin contains around 0.77344 ounces of pure silver.
How Much Does The 1890 Morgan Silver Dollar Cost At The Pawnshop?
A Fine-condition 1890 silver dollar will get between $15 and $150 at the neighborhood pawn shop. However, the cost may differ based on the dealer and the rarity of your coin.
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What Determines The Price Of A 1890 Silver Dollar?
An 1890 silver dollar’s value is influenced by several variables, including but not limited to:
Prices Of Silver
Changes in the silver price can significantly impact the worth of an 1890 silver dollar. Your coin’s worth increases as the price of silver climbs.
Grade of the Coin
A coin’s grade is determined by many elements, including the strike, toning, and surface condition. An uncirculated 1890 silver dollar is sometimes worth three times as much as an uncirculated example in “Good” condition.
Some coins were struck with the wrong planchet. However, a mistruck coin is more valuable than a poor-quality 1890 silver dollar and has the same value as a standard specimen of the same kind and year, and the value increases as the grade do.
In Conclusion: Is Collecting 1890 Silver Dollars Worth It?
The 1890 silver is a part of a sizable series that bears the name of their designer. Additionally, the artist used his wife’s face as a model for Liberty.
Today, over 10 million silver coins of the 1890 mint year are in circulation. But does the coin still have any value?
The 1890 silver dollar is valuable as a collectible. Depending on the coin’s grade, fine pieces can be purchased for anywhere from $15 to $190.