The Iconic 1889 Silver Dollar: Valuable Collectible Or Sentimental Hoard?

The 1889 Silver Dollar, also known as the Morgan Dollar, is a coin that has captured the imagination of collectors and enthusiasts for over a century. With its intricate design and historical significance, this coin has become a cherished artifact for many.

However, the question remains: is the 1889 Silver Dollar a valuable collectible or simply a sentimental hoard for coin collectors?

To answer this question, we must delve into the history and features of the 1889 Silver Dollar, as well as examine its rarity and valuation in the modern marketplace. By exploring these factors, we can gain a better understanding of the cultural and economic significance of this iconic coin and determine whether it truly deserves its status as a valuable collectible or if it is simply a cherished keepsake for those who appreciate its unique design and history.

Brief History

The brief history of the 1889 silver dollar, a large-sized coin with a 90% silver composition and iconic design featuring Liberty and an American bald eagle, spans from its production in 1878 to 1904 and in 1921 across various mint marks.

The coin was designed by George T. Morgan and features a portrait of Lady Liberty on the obverse and an American bald eagle on the reverse.

The coin was minted in Philadelphia, New Orleans, San Francisco, and Carson City with matching mint marks.

Valuations for the 1889 silver dollar vary based on condition and mint mark, with the coins from Carson City being particularly valuable due to their rarity.

Proof coins graded MS65 or higher are extremely rare and valuable.

The coin is over 120 years old and becoming harder to come by, with only around 2.5 million surviving today and only 7,000 in uncirculated condition.

The design of the 1889 silver dollar is iconic and has made it a popular collectible among coin enthusiasts.

Design and Features

One notable characteristic of the 1889 coin is its large size, with a diameter of 38.1 millimeters and a weight of 26.73 grams. The design, created by George T. Morgan, features Lady Liberty on the obverse, with her hair flowing freely and a Phrygian cap on her head, symbolizing freedom. The reverse showcases an American bald eagle, with its wings spread wide, holding arrows and an olive branch, symbolizing military readiness and peace, respectively.

The 1889 silver dollar is a beautiful representation of American artistry and history. The intricate details of the design, coupled with the large size of the coin, make it an incredibly collectible and valuable item. As seen in the table below, the value of the 1889 silver dollar can vary greatly depending on the mint mark and the condition of the coin. However, despite its potential value as a collectible item, dollar coins have never been popular in general use, and are often hoarded by collectors for sentimental reasons or their potential future worth.

Mint Mark	Condition	Value
Philadelphia	Circulated	$22,000
New Orleans	Circulated	$28,500
San Francisco	Circulated	$35,000
Carson City	Circulated	$400,000

Read about 1889 Indian Head Penny

Valuation and Rarity

Valuation and rarity of the 1889 silver dollar are dependent on factors such as mint mark and condition, with some coins reaching high values in the hundreds of thousands of dollars. Here are some key points to consider when evaluating the value and rarity of the 1889 silver dollar:

1. Mint mark: The mint mark on the coin can greatly impact its value, with coins minted in Carson City often being the most valuable due to their limited production numbers.

2. Condition: The condition of the coin is also important, with uncirculated coins being the most valuable. Even minor imperfections or wear can significantly lower the value of the coin.

3. Rarity: With only around 2.5 million surviving today, the 1889 silver dollar is considered a relatively rare coin. However, some variations and mint marks are rarer than others, leading to even higher values.

Overall, the value of an 1889 silver dollar can vary greatly depending on these and other factors. Collectors and investors should carefully evaluate the specific coin they are considering purchasing or selling to determine its true value.