Discover the value of your 1891 silver dollar with our comprehensive guide. Learn about its historical significance, rarity, and market value to help you determine its worth.
One of the most valuable coins finds for any U.S. silver dollar series is the 1891 Silver. Many factors determine exactly how valuable your 1891 Silver Dollar is worth, including the mintmark and the grade of your coin. However, even in circulated grades, these coins are quite collectible due to their extreme scarcity.
Since many date and mint mark combinations are available, it makes it difficult for the average person to know the value of these coins. Your hours of looking up individual silver dollar values or spending tons of money on dealers may be for nothing if you need the right information. Read on to find out the dollar value of this coin.
The Value of 1891 Silver Dollar
While the value of an 1891 Silver Dollar may not be clear, it is still worth something. The coin's silver content makes it worth at least as much as its face value in precious metal. Given its silver content, a worn-out coin is worth at least as much as the metal it contains. This coin's current silver melt value is $18.53 as of January 20, 2023.
The melt value shown above is calculated from the current silver spot price of $23.95 per ounce.
The 1891 silver dollar without a mint mark is worth approximately $40 in excellent condition. In pristine condition, it is worth around $42. In uncirculated condition, these coins will sell for about $100. Silver dollars are less popular or valuable than gold or platinum, but they are still worth collecting because of their historical significance.
However, this is only its ordinary value; I will describe its real collectible value in detail in the content below.
The Collectible Value of 1891 Silver Dollar
The 1891 Silver Dollar is an iconic collectible of the late 19th century. It was minted at now-famous U.S. Mints in Philadelphia, San Francisco, and Carson City and is one of the most sought-after coins among collectors today.
- Fine: There are no visible imperfections in the design.
- Very fine: The hairline on Liberty's forehead extends past her eyes, while the rest of her head is covered by a scarf.
- Extremely fine: The lines and edges of Liberty's hair and ears look sharp.
- MS 60 uncirculated: No signs of wear. The coin is in good condition but may have a few blemishes on its surface. The highest price ever sold at auction in 2018 was $1,625.00.
- MS 65 proof-like: This coin has an extreme shine and attracts attention. There may be light speckles of dirt or markings on the object, but they do not affect its appearance. It was incredible that one of the items auctioned in 2021 fetched an astonishing price of $7,800.00!
- PR 63 proof: This coin has minor imperfections and small blemishes. It is often seen in mint sets and proof sets. The value is also up to $3,221.
- Error coins: Errors can occur either during production due to misalignment of the dies, wrong orientation of blanks, or incorrect settings of presses, or they may be intentional mint errors with a variety of causes, including ‘trial strikes’ and experimental issues. An 1891 silver dollar with the iconic “spitting eagle” design was sold at auction for $40,000!
Factors to Determine the Value of the 1891 Silver Coin
The value of an 1891 silver dollar coin is based on several factors, including:
Condition
The condition of your coin will greatly affect its value. Coins in perfect condition will typically sell for more than those that are not in good condition. You should also check to see if there are any scratches or dents on your coin before you sell it or trade it with another collector.
Mint Mark
Another factor that affects the value of a coin is its mint mark. The San Francisco mint was responsible for creating this coin, and it has an S stamped on the bow of Liberty. This makes it rare than other coins from this era because fewer were created at one location. It also increases its value since there is no S mint mark on any other coin from 1891 or before that year.
Strike
The strike refers to how well-defined a coin is when it is struck by a die. If a coin has a poor strike, it will have weak details like fine lines or even entire letters that are not fully visible.
Luster
Luster refers to how bright and shiny a coin appears when held up against light sources such as windows or lamps. The more luster a coin has, the more valuable it will likely be because this means that there are fewer imperfections on its surface (for example scratches).
The History Of The 1891 Silver Coin
The 1891 silver dollar was minted during economic turbulence in the United States. The country was amidst a severe recession, with unemployment rising. Businesses were failing, and people feared that the panic of 1893 was about to happen again.
The government raised more money to reduce its debt and pay off creditors who owed it to the government. It also wanted to reduce its reliance on borrowing funds from European investors. They responded to the economic crisis by passing the Sherman Silver Purchase Act in 1890.
The Silver Purchase Act required the government to buy a certain amount of silver each month to increase the money supply, which would stimulate the economy. The U.S. Treasury issued more silver coins to stabilize the economy.
The Act immediately affected the prices of goods and services across America as more money became available for consumers and businesses. This increased spending helped boost economic activity during this time of crisis.
Features Of The 1891 Silver Dollar Value
Metal Composition
The 1891 Silver Coin was a small coin minted by the United States Mint. It was made of 90% silver and 10% copper.
Weight and Size
It weighs 26.73 grams with an Actual Silver Weight (ASW) of 0.7734 Troy ounces of pure silver and has a diameter of 1.5 inches (3.8 cm).
Obverse Side
The coin's obverse side featured Lady Liberty on the front, with an eagle on the back. The 1891 Silver Coin is a one-year-only design that was struck for circulation in the United States. This coin is a departure from all the other silver dollars produced during this period, and it is worth more than its face value due to its rarity.
Reverse Side
The reverse side of the coin shows an eagle with its wings spread wide, surrounded by a wreath that is only partially visible. The eagle has been a symbol of America since colonial times, and in this design, it represents freedom and liberty. This image is surrounded by a wreath of olive branches and oak leaves. The words “UNITED STATES OF AMERICA” are at the top of the coin, while “ONE DOLLAR” is found at the bottom.
Conclusion
The answer to many questions by collectors may be different because each coin has its own story. What is certain is that these coins are rare and command high prices when in the right condition.
