Discover the value of your 1890 Morgan Silver Dollar and learn about its historical significance, rarity, and current market value. This is a must-have for collectors and investors!
The hobby of collecting coins is not just rewarding financially but also enjoyable in its own right. The actual silver content of rare Morgan silver dollars gives them a reasonable possibility of increasing in value. What is the 1890 Morgan Silver Dollar Value? So, if you're curious, keep on reading!
What is the 1890 Morgan Silver Dollar Value? Values for circulating 1890 Morgan Dollars range from $34.50 to $63 on the NGC Guide Price as of January 2023. However, 1890 S Morgan Silver Dollars in perfect, uncirculated condition may fetch as much as $20,000 on the open market.
In this article, you will learn more about the value of different varieties of 1890 silver dollars, the criteria for evaluating them, and much more.
1890 Morgan Silver Dollar Value
1890 S Silver Dollar
An uncirculated coin with a mint mark of Philadelphia or New Orleans is worth roughly $50 in XF45 condition. Uncirculated coins are also readily available in large numbers, and it is believed that between 2,000 and 3,000 MS65 examples exist, with over 1,000 having been certified by PCGS. Additionally, only 5% of dollar coins with a profound proof-like appearance are rated MS65 or above.
A coin-graded MS65 is $1,000, whereas a proof-like specimen of the same grade is worth more than twice that much.
1890 CC Silver Dollar
Despite the 1890 dollar's widespread availability in circulated condition, collectors reserve a particular place in their hearts for coins struck in Carson City. There is still a premium for circulated coins over those from other mints; a coin rated XF45 may fetch as much as $325 on the secondhand market.
At MS65, there is a dramatic decrease in numbers, and it's estimated that between one thousand and two thousand coins of this grade survive. Today, a coin-graded MS65 is worth almost $5,500. MS66 puts the price tag at $36,000. Surprisingly, the PCGS has rated one specimen as MS66+, valuing it at $60,000.
1890 O Silver Dollar
There are a lot of coins in mint condition, although the majority are lower grades. In the range of MS60 to MS62, it is believed that there exist from 100,000 to 200,000 coins.
The coins begin to degrade at the MS64 level, and locating a perfectly struck MS65 specimen might be challenging. The number of coins with such a profound mirror-proof quality is small at just approximately 3%. If you come across an MS65DMPL, you can expect to pay something like $12,000.
1890 (P) Silver Dollar
An appealing coin, certified as very fine (XF45), may be purchased for about $50. They're harder to get by in pristine condition. Although “jewel quality” is a lofty standard, many instances are available up to MS64. More than five thousand coins have been rated MS64 by PCGS, and you should expect to spend close to $165 for one.
MS66 is the highest quality, even without proof, and PCGS has recorded seven such coins, with an estimated $15,000.
Two MS66 coins seem like proofs which is a hefty premium since each coin is worth $26,500. The highest-rated example of a profound mirror proof has a value of $22,500 and has been assigned the grade MS65+DMPL.
Error and Varieties on the 1890 Silver Dollar
The “tail bar” dollar was a type of dollar coin produced at the Carson City mint in 1890. It had a deep scratch on the back, starting at the eagle's tail and ending at the laurel wreath's end. However, these coins are very collectible regardless of their condition. The PCGS grading scale from 1 to 70 assigns a value of $225 to a coin with a grade of 10. MS65+ is the pinnacle of grading standards and represents the most excellent known instances. The PCGS rated two dollar coins at this level, each worth $45,000.
Die breaks or fractures in the die may be seen in a few coins. Some of the dies used to make Morgan dollars in 1890 were worn out because of the high volume of coins produced. One piece from NOLA had an overabundance of metal along the edge due to a broken die. The NGC certified it as XF40, bringing $90 at auction.
Coins with off-center strikes are valuable due to their rarity and the fact that they were produced with a manufacturing fault. Over $5,000 was paid at auction for a Morgan dollar from 1890 that was struck 5% off center in New Orleans.
1890 Silver Dollar Features
The Roman goddess Libertas, known as Lady Liberty in the United States, is shown on the obverse of the 1890 Silver Dollar. She has a Phrygian crown and a hair band that reads “Liberty.”
If you flip it over, you'll see an eagle holding arrows on an olive branch, as on the great seal of the U.S. These emblems represent the United States' rise to global prominence and its firm dedication to a deep desire for peace accompanied by the preparation for conflict. The arrows stand for bravery in battle, while the olive branch has been a peace sign since ancient Egypt.
To determine how much an 1890 Silver Dollar is worth, you need to look at the coin's condition and mintmark. Only four places in the United States produced Morgan Dollars in 1890; New Orleans, San Francisco, Carson City, and Philadelphia. 1890 Silver Dollar may have one of the following mintmarks.
- No Mark Philadelphia Mint
- (S) San Francisco
- (O) New Orleans Mint
- (CC) Carson City
Why Is the 1890 Morgan Silver Dollar Rare to Find?
According to the Professional Coin Grade Service, less than 10% of original Morgan Dollars might survive in circulation. Then fewer than 3,804,251 of all 38,042,514 silver coins struck in 1890 are still in circulation, hence why the 1890 Silver Dollar is now a highly sought-after antique.
Conclusion
According to the NGC Guide Price for January 2023, an 1890 silver dollar is worth between $34.50 and $63. When determining their worth, you should consider the current silver price and the dollar's condition. Off-center strikes, die breaks, and tail bars are some of the errors of the 1890 silver dollar.
