The 1896 Silver Dollar is worth more than its face value, due to its rarity and silver bullion content. Continue reading if you want to know how much is an 1896 Silver Dollar worth.
- Type: Morgan Dollar
- Country: United States
- Year: 1896
- Face Value: 1 USD
- Silver Weight: 0.7734oz
- Metal Composition: 90% silver – 10% copper
Introduction to the 1896 Morgan Silver Dollar
The 1896 Morgan Silver Dollar is an iconic coin that holds a significant place in the history of American currency. As part of the Morgan Dollar series, it is an example of the rich cultural and economic heritage of the United States.
History of the Morgan Dollar Series
The Morgan Dollar series, named after its designer George T. Morgan, was minted from 1878 to 1904 and again in 1921. The coins were produced in response to the growing demand for silver in the western United States and served as the country’s primary silver coin for circulation. The Morgan Dollar series remains one of the most popular and collectible coin series in the world, and the 1896 Morgan Silver Dollar is a prized example of this iconic series.
1896 Silver Dollar Design & Analysis
The 1896 Morgan Silver Dollar is a stunning coin, with a number of unique physical characteristics that set it apart from other coins in the Morgan Dollar series.
The obverse side of the coin features a portrait of Lady Liberty, facing left, with a crown of cotton and wheat on her head, along with the inscription 1896 – E PLURIBUS UNO LIBERTY. This depiction of Lady Liberty was inspired by Anna Willess Williams, a Philadelphia schoolteacher, who posed as the model for the portrait.
The reverse side of the coin features an eagle with outstretched wings, surrounded by a wreath of oak and laurel leaves, and the inscription UNITED STATES OF AMERICA – IN GOD WE TRUST – ONE DOLLAR. The eagle symbolizes the strength and patriotism of the United States, making the 1896 Morgan Silver Dollar a true representation of American values and ideals.
Other Distinct Features
In addition to its intricate design, the 1896 Morgan Silver Dollar is also notable for its size, weight, and metal content. The coin measures 38.1 millimeters in diameter and weighs 26.73 grams. It is composed of 90% silver and 10% copper, making it a valuable piece of American history and an ideal addition to any coin collection.
Mint Marks and Values of the 1896 Morgan Silver Dollar
1896 Silver Dollar No Mint Mark
The 1896 Morgan Silver Dollar with no mint mark was struck at the Philadelphia mint with a total mintage of 9,976,000.
In terms of silver value alone, a Morgan Silver Dollar that is made of 90% silver would be worth approximately $18 based on the spot price of silver of $23 per ounce. The 1896 silver dollar with no mint mark is worth around $37 in fine condition and around $42 in very fine condition. Its value increases to around $46 in extremely fine condition. Uncirculated coins with an MS 60 grade have a price of around $68, while those with a grade of MS 64 are worth around $1,599.
1896-S Silver Dollar
The 1896 S Dollar was struck at the San Francisco mint with a total mintage of 5,000,000.
The 1896 S silver dollar is worth around $86 in fine condition and around $155 in very fine condition. Its value increases to around $385 in extremely fine condition. Uncirculated coins with an MS 60 grade are worth around $2,600, while those with a grade of MS 64 can sell for around $6,790.
1896-O Silver Dollar
The 1896 O Dollar was struck at the New Orleans mint with a total mintage of 4,900,000.
The 1896 O silver dollar is worth around $39 in fine condition and around $45 in very fine condition. Its value increases to around $54 in extremely fine condition. Uncirculated coins with an MS 60 grade are worth around $1,780, while those with a grade of MS 64 can sell for around $40,000.
Where to Find the Mint Mark
The mint mark for the 1896 Silver Dollar can be found on the reverse, beneath the wreath.
1896 Silver Dollar Value Chart
|Uncirculated MS 60
|Uncirculated MS 64
|1896 (No Mint Mark)
Note: The values listed are approximate and can vary depending on various factors such as market conditions, rarity, and demand.
Factors that Affect the Value of the 1896 Morgan Silver Dollar
Condition and Grading
The value of an 1896 Morgan Silver Dollar is greatly influenced by its condition and grading. A coin’s condition, which is determined by its wear and tear, affects its overall appearance and its rarity. Coins that have been well-preserved, with minimal wear and tear, are considered to be in higher condition and are therefore more valuable. Grading, on the other hand, is the process of evaluating a coin’s condition on a numerical scale, with 1 being the lowest and 70 being the highest. Coins that are graded MS 60 or higher, meaning they are in uncirculated condition, tend to be the most valuable due to their rarity and pristine appearance. The value of an 1896 Morgan Silver Dollar can vary greatly depending on its condition and grading, with fine condition coins being worth around $37 for the 1896 silver dollar with no mint mark and uncirculated coins with a grade of MS 64 being worth anywhere from $1,599 for the 1896 silver dollar with no mint mark to $40,000 for the 1896 O silver dollar.
Rarity and Demand
Another factor that affects the value of the 1896 Morgan Silver Dollar is its rarity and demand. As with many other collectible items, the value of a coin increase with its scarcity. In general, the 1896 Morgan Silver Dollars that were produced at the San Francisco and New Orleans mints are rarer and therefore more valuable than those produced at the Philadelphia mint. Additionally, the demand for coins from certain time periods or with specific features can also play a role in determining their value.
Errors and Varieties
The 1896 Morgan Silver Dollar also has its fair share of errors and varieties that affect its value. These errors include Partial Collar, Lamination, and Strike Through.
The Partial Collar error occurs when the blank sits incorrectly in the collar die. As a result, some of the metal from the planchet escapes past the collar, giving the edge of the coin a stepped appearance. A recent auction saw an 1896 dollar from New Orleans with a partial collar error sell for over $300. It was graded AU55 (almost uncirculated) by the PCGS.
Lamination errors result from problems with the planchet, the disc of metal on which the coin is struck. Contamination of the alloy often causes the metal to crack or flake off, leading to lamination errors that can happen either before or after the coin is struck. An 1896 dollar struck in Philadelphia with a lamination error on the obverse sold at auction for $70, graded MS64 by the NGC.
Strike-Through errors occur when a foreign body gets into the coin press and the coin is struck through the object, leaving a mark on the coin surface. An 1896 dollar struck in Philadelphia with a thick line snaking through Liberty’s chin and neck was graded MS63 by the PCGS and sold at auction for $175.
How much is a 1896 silver dollar worth now?
An 1896 silver dollar without a mint mark is worth around $37 in fine condition and $68 in uncirculated condition with an MS60 grade. Meanwhile, an 1896-O silver dollar in uncirculated condition with an MS64 grade can be worth around $40,000. An 1896-S silver dollar in uncirculated condition with an MS64 grade can be worth around $6,790.
What makes a 1896 silver dollar rare?
Factors that can make a 1896 silver dollar rare include its condition, rarity, and the type of mint mark. For example, a 1896 silver dollar in uncirculated condition with an MS64 grade is considered rare and can be worth thousands of dollars.
Where is the mint mark on a 1896 Morgan Dollar?
The mint mark on a 1896 Morgan Dollar can be found on the reverse side of the coin, near the ribbon in the wreath. The mint mark indicates where the coin was struck, and can be an “O” for New Orleans, an “S” for San Francisco, or no mint mark for Philadelphia.
How much is a 1896 O Morgan Dollar worth?
In uncirculated condition with an MS60 grade, a 1896 O Morgan Dollar is worth around $1,780. Meanwhile, in uncirculated condition with an MS64 grade, it can be worth around $40,000.
What is the value of an 1896 S Morgan silver dollar?
In uncirculated condition with an MS60 grade, an 1896 S Morgan silver dollar is worth around $2,600. Meanwhile, in uncirculated condition with an MS64 grade, it can be worth around $6,790.
What does the S stand for on a Morgan silver dollar?
The “S” on a Morgan silver dollar stands for San Francisco, which is the mint where the coin was struck. The mint mark is used to indicate where the coin was made and can be used to determine its rarity and value.