1889 Morgan Silver Dollar Value: How Much Is It Worth Today?
Morgan Silver dollars are one of the most interesting and sought-after coins for a number of reasons. They have a fascinating and recognizable design and are made of silver, which instantly inflates their value.
It means the coins can be sold for their worth in silver, depending on the current price.
Although some of the dates, such as the 1889 Morgan dollar, had high mintages, many of the Morgan dollars were melted, making some of the varieties very rare and collectible. Let’s dive into this coin’s history, varieties, value, and errors.
1889 Morgan Silver Dollar Value Chart
|Mint Mark||Fine||Extra Fine||MS 60||MS 65|
|Silver No Mint Mark Silver Dollar||$25-$30||$50||$60||$450|
|1885 O Silver Dollar||$35-$40||$40-$60||$203||$1,000-$2,500|
|1885 S Silver Dollar Value||$35-45||$130||$300||$1,000- $3,000|
|1885 CC Silver Dollar||$1,000-$1,500||$3,000-$5,000||$25,000-$30,000||$200,000-$300,000|
1889 No Mint Mark Morgan Silver Dollar Value
The Morgan dollars were named after the designer who created the obverse and the reverse design, George T. Morgan. These coins were minted first from 1878 to 1904, and production was halted. However, the coins made a brief comeback in 1921.
The Morgan dollar was the first silver coin to be minted after the passage of the Coinage act of 1873, which ended the production of free silver. Many citizens lived under the concept of free silver, which allowed them to trade silver bullion for coins.
However, this changed when the Bland-Allison Act was passed in 1878, authorizing the coinage of the standard silver dollar and restoring its legal tender.
Talking of the history of the coin’s design in 1878, the U.S. Mint, led by Henry Linderman, initiated the change of the silver coin’s design and began his search for the most skilled designer to create the new design.
He contacted and contracted C.W. Fremantle to find the engraver and suggested George T Morgan, who had already made a name for himself as a capable, creative, and able sculptor.
After the Director of the Mint, Linderman, and Morgan agreed, Morgan arrived in Philadelphia and began working on his design.
The obverse design is a piece of art featuring Liberty’s bust or face profile facing left. Lady Liberty’s hair on the coin is depicted as very thick and curly, furnished with capitalized inscription LIBERTY, seemingly appearing as Liberty’s crown.
The model for the Liberty’s bust was said to be Anne Willes Williams, a teacher, and philosopher from Philadelphia. Morgan claimed that her facial profile was nearly perfect. Furthermore, his idea was to show an American woman rather than classical Greek-style figures.
Lady Liberty is surrounded by the American motto “E PLURIBUS UNUM,” struck alongside the upper side of the rim. The motto translates to “Out of many, one,” It was the official U.S. motto, commonly found on many coins.
On the lower rim is the mintage date “1889,” We can also see the stars surrounding the date and Lady Liberty. The reverse is pretty packed and features an American Bold Eagle with outstretched wings in the coin’s center.
The eagle holds two arrows in his talons and an olive branch and is surrounded by a Laurel wreath.
The second American motto, “IN GOD WE TRUST,” is struck above the eagle’s head. On the upper rim of the coin, we can see the inscription “UNITED STATES OF AMERICA.”
The denomination “ONE DOLLAR” is at the bottom of the coin, struck alongside the lower rim.
The mint mark is located above the denomination, precisely between the letters “D” and “O.”
Like other Morgan dollars, the 1889 Morgan Silver dollar’s metal composition is 90% silver and 10% copper. The melt value of the coins is around $19, and the coin’s weight is 26.73 grams or 0.8594 troy ounces and 24.05 grams of silver or 0.7734 troy ounces.
The total mintage of the 1898 Morgan Silver dollar is over 35,750,000 million, which was a pretty high mintage for the Morgan dollar. The 1889 Morgan Silver dollars were struck at four facilities: New Orleans, Carson City, Philadelphia, and San Francisco.
The Philadelphia Mint had the highest mintage-21,400,000, and the second highest mintage was in New Orleans, where over 12 million of these coins were struck! The San Francisco Mint produced only 700,000, while the lowest mintage was in Carson City-350,000. The Philadelphia Mint
The Morgan dollars produced in Philadelphia do not have a mint mark. The 1889 No Mint Mark Morgan Silver dollars are common in lower grades, and due to their metal composition, they are always attractive to collectors.
In an average state, the price of the 1889 No Mint Mark Morgan Silver dollar ranges between $25 and $30. In fine and extra fine condition, the price ranges between $35 and $45. In MS 60, 1889 No Mint Mark Morgan Silver dollar is worth around $60; in MS 65, it can reach $450.
1889 S Silver Morgan Dollar Value
The San Francisco Mint had the second lowest mintage in the series and struck only 700,000 of the 1889 S Morgan Silver dollars. Therefore, the 1889 Morgan Silver dollars with an “S” mint mark are rare and highly coveted.
Even in lower grades, the value of these coins is pretty high; in fine condition, they can cost from $35 to $40. Those specimens with S mint marks that are in extra fine condition can cost around $130.
The 1889 S Morgan Silver dollar in mint states can be worth a small fortune; for example, in MS 60, this coin can be worth around $300 or higher.
The same specimen in MS 63 can cost around $500 or higher. If the coin has a proof-like designation, the price can go up to $830. If you have the 1889 S Morgan Silver dollar in MS 65 with a deep mirror proof-like designation (abbreviated as DMPL), consider yourself lucky!
These pieces can cost around $2,500.
If you are wondering what the meaning of ‘deep mirror’ and ‘proof-like is,’ do not worry! It is a type of designation given to Morgan coins meant for circulation, but it still has an unusually clean field with frosted devices, resembling a proof coin.
1889 O Silver Morgan Dollar Value
The 1889 Silver Morgan dollars coined in New Orleans have the “O” mint mark. The total mintage in New Orleans was around 12 million, the second highest, which means that these coins are pretty common and can be easily found.
The 1889 O Silver Morgan dollars in lower grades are not particularly valuable, but pieces in mint states cost big bucks and are very rare. The Morgan dollar with the “O” mint mark in fine state costs around $35 and $40.
In extra fine condition, it can cost between $40 and $60. As always, the 1889 O Morgan Silver dollars in mint states are worth much more, and if they have a designation such as DMPL, the price can reach a four-figure price such as 1,000 or higher.
You can find the 1889 O Morgan Silver Dollar in MS 64 very quickly and easily, and if the coin has the DMPL designation, it can be worth around $1,000 because there are around 2,000 of those specimens, according to the PCGS.
These coins are rare in MS 65 and higher, and only a few specimens have been reported. In MS 65, the 1889 O Morgan Silver Dollar can cost around $2,000 or higher, depending on whether it has the DPLM designation, significantly boosting the price.
For example, the 1889 O Morgan Silver dollar in MS 66 without any designation costs around $52,000, and only two exist. According to the PCGS, there are around 33 pieces of 1889 O Silver Morgan dollars with DMPL or P.L. designation.
The highest amount paid for the 1889 O Morgan Silver dollar was in an auction in 2019, and the collectors paid a jaw-dropping $84,000.
1889 CC Silver Morgan Dollar Value
If you are looking for a highly valuable Morgan dollar, the ones with the “CC” mint mark are, without a doubt, the most valuable and sought-after pieces. The Carson City Mint generally produced fewer coins than other mints, rendering these specimens a very expensive rarity.
As noted, the mint in Carson City made only 350,000 pieces of Morgan Silver dollars, and finding those today can be challenging. The 1889 CC Silver Morgan dollar in lower grades is also valuable and can cost up to $1,000 or higher in fine condition.
For the Morgan Silver dollar with CC mint mark in extra fine condition, expect to pay between $3,000 and $5,000. You have found a golden goose if you have the 1889 CC Silver Morgan dollar with the DPLM or P.L. designation.
These coins already have a high value, and these designations can boost the price even more. The pieces in MS 63 with the DMPL designation can cost from $25,000 to $30,000.
According to the USA Coin Book, in MS 60, the 1889 CC Morgan Silver dollar can be worth around $25,000. The same specimen in MS 65 can be worth around $200,000.
The highest amount paid for the 1889 CC Morgan Silver in MS 64 was in 2022, and the collector paid another jaw-dropping amount-$230,000. Also, remember that the coin was designated DMPL, which affects the price significantly.
However, the 1889 CC Morgan Silver Dollar in MS68 was probably the highest grade for this variety. This piece was sold for over $800,000.
1889 Proof Silver Morgan Dollar Value
The Philadelphia Mint also struck 811 Morgan Silver dollars in 1889, and these pieces are also very rare and valuable, especially in higher grades, such as PR 68.
In case you are not familiar with proof coins, those are early samples of a coin produced with a different hubbing process to create coins of great quality. The proofs are not meant for circulation but rather for archival purposes, hence why they have a high-quality strike, excellent toning, and details.
The price of the 1889 Proof Morgan Silver dollars is around $3,000 and can go up higher or lower. Such a specimen in PR 61 was sold for $1,400 at an auction, but at the same time, the 1889 Proof Morgan Silver dollar in PR 64 was sold for 3,600.
The highest amount paid for a proof coin was at the Heritage auction in 2006, and the collector paid an astonishing $34,000 for the 1889 Proof Morgan Silver dollar in PR 68.
1889 Morgan Silver Dollar Grading
Grading these coins might seem very challenging, and numerous factors come into play when establishing the grade and worth! Some of those include a level of preservation, strike, mint mark, total mintage number, and others!
Rare 1889 Morgan Silver Dollar Error List
The 1889 Morgan Silver dollar is not particularly known for having many errors. However, a variety of these coins, called VAMs, are very expensive and usually come with an error.
1889 Morgan Silver Dollar 10% Struck Off Center Error
This error is very expensive, and many collectors look for a Morgan dollar with 10% struck off center. The defects happen when the planchet is positioned incorrectly between the dies, resulting in the 10% struck-off center error.
1889 No Mint Mark Morgan Silver Dollar in MS 62 with this error for over $6,000 at an auction, but the price can even go higher depending on the mint state.
1889 Morgan Silver Dollar Curved Clip Error
How does when this error happen? Planchets are struck out of a large sheet of metal, and sometimes the sheet of metal does not advance enough and ends up clipping something that had already been cut out.
The value of the error also depends on the size of the clipped area, and this defect does not boost the price particularly. The No Mint Mark 1889 Morgan Silver dollar in MS 61 with the curved clip was sold for $100.
1889 Morgan Silver Dollar Rotated Dies Error
The rotated die error occurs when one die is not positioned correctly with the other die, so during the minting process, one side ends up being rotated at the wrong degree. These errors are very common on circulated 1889 Morgan dollars.
1889 Silver Morgan Dollar FAQ
How do I know if my 1889 silver dollar is real?
There are many counterfeits on the market, so it happens that people get a fake Morgan dollar. The best way to determine whether it is real is by using a magnet to establish the metal composition.
Since fake coins are not made of precious metals such as gold and silver, and considering that these precious metals are not magnetic, this will determine whether you have a fake dollar.
How rare is an 1889 Morgan silver dollar?
The total mintage of the 1889 Morgan Silver dollar is around 34 million, which means that these coins are common in lower grades. The rarest pieces are those with a CC mint mark or high grade, such as MS 66 or higher.