Have a 1898 Silver Dollar you suspect might be valuable? With our article, you can unlock the mystery behind your coins and learn exactly how much they are worth.
The 1898 Silver Dollar Value is a key to many other coins. Understanding the value of your 1898 Silver Dollar depends on the amount of wear and its condition. Even though they are old, they are not worth as much as a Morgan or Peace Dollar.
To determine an accurate value, several important factors affect the coin's condition, design, and potential flaws that could determine how much you can sell your 1898 Silver Dollar for. Read on to find out.
1898 Silver Dollar Value
The United States released three different 1898 silver dollars: one without a mint mark, and two with the “O” and “S” mint marks. You can easily identify which one you have by looking for the mint mark on the reverse of the coin, located just below the wreath.
- For an 1898 silver dollar without any mint mark, you can expect to receive around $42 in very fine condition. However, if the coin is graded as extremely fine, it may be worth up to approximately $45! Uncirculated coins with an MS 60 grade are estimated at about $60 while those with an MS 65 rating could sell for close to $250.
- The 1898 O silver dollar can be worth up to $220 depending on its condition. Very fine coins are valued at approximately $42, while extremely fine variants sell for about $45 each. Coins in the uncirculated state with a grade of MS 60 cost around $60, and those graded as MS 65 typically go for an impressive price tag of over two hundred dollars!
- The 1898 S silver dollar has an estimated value of $50 in very fine condition, but its worth doubles to around $70 when it is extremely fine. If you happen to have a coin that is uncirculated and achieves the grade MS 60, then your coin can be sold for approximately $450. As if this wasn't impressive enough, coins with a grade of MS 65 could fetch up to an astonishingly high amount of $2,100!
- Only 735 proof coins were ever made and no mint mark! These rare coins are now worth up to a whopping $3,750 – depending on the condition it's in. If you can get your hands on one of these special pieces of history, you won't be disappointed with the value of this valuable collector item.
Circulated or Uncirculated 1898 Silver Coins
The biggest divider between coins is whether they are circulated or uncirculated. A circulated coin has been used in circulation and shows signs of wear. An uncirculated coin is one that was never used and looks as good as new. Uncirculated 1898 silver dollars are worth a great deal more than circulated ones.
Uncirculated coins are more common than those circulated because the former were never used and thus remain in better condition. A coin in poor condition is worth around $30, while rare coins that are in great condition (Uncirculated MS60 and above) can be sold for thousands of dollars—like this MS68DMPL piece that was recently auctioned off for almost $50,000.
Factors that Affect the Value of the 1898 Silver Dollar
The value of the 1898 silver dollar depends on several factors. These include:
- The coin's grade: The grade of a coin is determined by how much wear it has experienced since leaving the mint. Coins in better condition are worth more than those that are less worn.
- The mintage: The number of coins minted also affects the value. A rare coin minted in small quantities may be worth more than one minted in large quantities.
- The coin's condition: The grade indicates how well-preserved the coin is. A coin in extremely fine condition may be worth more than one in very good condition, as it will have fewer defects or signs of wear and tear.
- The coin's rarity: A rare coin will have a much higher value than an ordinary one. The more rare and valuable the coin, the higher the value.
- Internal factors: The coin's composition also affects its value, as does its country of origin. For example, Mexican coins are worth less than U.S.-minted ones because they were often made from cheaper metals such as copper or tin rather than silver or gold.
- External factors: War sometimes produced a shortage of metal with which to make coins; this was the case for certain American coins minted in 1898. A coin owned by a general during the Spanish-American War is more valuable than one that wasn't.
1898 Silver Dollar Error Coins
The 1898 silver dollar error coin is an extremely rare issue that has an unusual obverse design. This coin was struck with a reverse die that was intended for the Morgan dollar, but there are no Morgan dollars that were produced in 1898. The mint accidentally used this reverse die on some of its silver dollars and they were released into circulation. These coins have a reeded edge and are 90% silver, making them worth more than $500 each.
The History Of The 1898 Silver Dollar
The 1898 silver dollar was minted when the United States underwent significant changes. The country was still recovering from a long and bloody Civil War, which had ended only six years earlier. It was in the midst of an industrial revolution.
One of the most important events of this era was the Spanish-American War in 1898. This conflict was fought between the United States and Spain over control of Cuba, Puerto Rico, and Guam. The War ended with Spain losing its Caribbean and Pacific Ocean colonies.
It was also in 1898 that the U.S. Mint released a silver dollar commemorating America's victory in the Spanish-American War. The 1898 dollar is part of the Morgan series. The Morgan dollar was first minted in 1878 and continued to be produced until 1904, with a brief interruption from 1942-1944.
The coins were designed by George T. Morgan and are known for their beauty and considerable value. This particular coin was minted in Philadelphia and has been graded an MS66 by PCGS (Professional Coin Grading Service), meaning it's in near-perfect condition. The Morgan dollar is one of the most popular coins for collectors to buy and sell because of its high quality and low mintage numbers.
Features Of The 1898 Silver Dollar
- Weight and Size
It weighs 0.85940 troy ounces (26.73 grams), making it one of the heaviest silver dollars ever struck by the United States Mint. The coin's diameter measures 38.1 millimeters, while its thickness is 2.4 millimeters thick.
- Metal Composition
The coin has a 90% silver content (0.77343 troy ounces), which makes it one of the most valuable coins in the world today due to its limited availability and high demand among collectors.
- Obverse Side
The obverse of this coin features a beautiful young woman with flowing hair. She is wearing a crown and is draped in an American flag. Her hair, decorated with flowers and wheat, partially covers her face. She also wears a Phrygian cap (a conical felt hat associated in ancient times with Greek fertility rites) that was popular among French revolutionaries during the late 1700s. The inscription “LIBERTY” appears on the crown she is wearing.
- Reverse Side
The reverse of the 1898 silver dollar features the American bald eagle, a symbol of freedom and national pride. The eagle is shown in full flight, with wings spread in a protective gesture and looking towards the viewer's left. It holds an olive branch in its right talon, symbolizing peace. Its left talon is closed around an arrow pointing down at the ground. The word “United States of America” is inscribed below. The motto IN GOD WE TRUST appears above the eagle's head.
Conclusion
The 1898 Silver Dollar is a very popular series, and the key to determining value is to look closely at the surface of the coin for scratches. Most of the 1898 Silver Dollar that you will find dated 1898-S are heavily damaged from mishandling over the years.
