Have you been wondering how much is the 1896 silver dollar value? We’ve wondered about that, too, and you’ve made a wise choice by coming to this page because we already found the answer to that!
In this article, we focus specifically on the 1896 Morgan Silver Dollar, with information about its value, mint mark, and more. We’ll also take a closer look at this coin’s 1896 O and 1896 S variations, which are particularly rare and valuable. Whenever you’re ready, let’s get to know these valuable coins from 1896.
1896 Silver Dollar Value Chart
Refer to the price value chart below from the Greysheet website to determine the current 1896 silver dollar value in today’s retail market.
1896 Morgan Silver Dollar Value Chart
|1896 No Mint Mark Morgan Silver Dollar Value
|1896 O Morgan Silver Dollar Value
|1896 S Morgan Silver Dollar Value
|1896 Proof Morgan Silver Dollar
|1896 No Mint Mark Proof Morgan Silver Dollar Value
1896 No Mint Mark Silver Dollar Value
The Morgan dollar, also known as the Liberty Head dollar, is a popular United States coin with a face value of $1 minted between 1878 and 1904, with an additional run in 1921. Collectors have wanted it due to its association with the Old West and the many date-and-mintmark combinations and varieties known as VAMs. Proof-like and Deep Mirror Proof-Like Morgans are two of the valuable variations of this coin.
In 1896, the United States Philadelphia Mint produced 9,976,000 Morgan Silver Dollars without mintmark. The image was of Lady Liberty’s head and neck from the side, designed by George T. Morgan. He asked an artist named Thomas Eakins to help him make the design more American. Eakins suggested Anna Willess Williams be the model for the coin. Anna agreed to help but didn’t want her name to be used. Later, a newspaper revealed who she was, and she became known as the “silver dollar girl.”
The image of Anna on the coin is surrounded by stars and the Latin words “E PLURIBUS UNUM.” This means “OUT OF MANY, ONE” and represents the idea that the United States was created from many different states coming together.
The reverse features a bald eagle, also designed by Morgan, perched on a fletch of arrows and a sprig of leaves with its wings outstretched. The words “UNITED STATES OF AMERICA” are all separated by the eagle’s wings. The coin also has a wreath tied with a ribbon and the inscription “IN GOD WE TRUST” above the eagle’s head. The country’s name is at the top, and the denomination is at the bottom.
The mint marks for Morgan Silver Dollar are located at the reverse of the coin, but for the 1896 silver dollar minted at Philadelphia, there is no mint mark on either side.
1896 O Morgan Silver Dollar Value
The 1896 O Morgan silver dollar belongs to the category of conditional rarity, a term that describes its unique status within the numismatic world. Although this Morgan silver dollar is commonly found and comparatively inexpensive in lower circulated grades, it is exceedingly uncommon in uncirculated levels, particularly in Gem condition. This makes it one of the 4,900,000 valuable 1896 O Silver Dollar among collectors who understand its value and significance in the broader context of American currency history.
Its mint mark is “O” at the bottom reverse design, indicating that it was minted in New Orleans. All 1896 silver dollar variety weighs 26.73 grams, has a diameter of 38.1 mm, and is composed of 90% silver and 10% copper.
The 1896 O Morgan silver dollar’s value varies based on its grade. At MS66, it is worth $630,000, and at MS65, it is worth $210,000. However, the price decreases as the grade decreases, with the lowest value being $35.00 for an AG3-grade coin. Despite being a common coin, many pieces have poor luster due to being poorly struck, making PLs and DMPLs extremely rare, and no known examples of the 1896 O Morgan silver dollar exist in Gem condition.
Two of these coins were sold at a very higher price than one may not expect. The first coin is an 1896 O (MS66), which sold in 2005 for $345,000! This coin is considered to be one of the finest examples of its kind due to its exceptional quality. It is described as having deficient luster, strike, and surface abrasion, meaning that it lacks a shiny appearance, sharp detail, and visible scratches or wear that can be seen on lesser-quality coins. The fact that it was graded MS66 by PCGS, a respected third-party grading service, further confirms its rarity and high quality.
The second coin is an 1896 MS65 graded, which sold in 2002 for $149,500. While it is still a rare and valuable coin, it is slightly less impressive than the first coin due to its grade of MS65. However, it is noted that the 1896 O silver dollar is particularly hard to find in Gem condition, making this a noteworthy example.
1896 S Morgan Silver Dollar Value
With a mintage of 5,000,000 in San Francisco with a mint mark “S,” the 1896 S silver dollar is another rare and highly desirable variation of Morgan Silver Dollars. While it is also easy to find this coin in circulated grades, finding one in Gem condition (MS69) is extremely difficult. Plus, the DMPL (Deep Mirror Proof-Like Morgans) variation is practically unknown for this issue.
The highest recorded 1896 S silver dollar sale was MS69, Graded by PCGS from the Jack Lee Collection, sold in 2005 at Heritage Auctions for $402,500! Another astounding sale, but that’s little compared to its value in today’s market, which reaches $864,000 for the same grade. You may not have to worry about finding the lowest quality of this 1896 Morgan Silver Dollar variation because even those that have MS60 are worth $3,500 to $4,020.
1896 No Mint Mark Proof Morgan Silver Dollar Value
Proof-like 1896 Morgan silver dollar is highly valued by collectors due to its excellent craftsmanship and rarity. Only 762 of these were minted at the Philadelphia Mint. Most 1896 silver dollars have a distinct contrast, with only a few gems in circulation. 1896 silver dollars rated PR67 or higher are even rarer, and collectors who aim to complete registry sets eagerly seek coins with grades of PR69 or higher.
In terms of value, the 1896 proof Morgan Silver Dollar’s worth varies based on its grade, with a range of $1,250 to $24,000 for regular proof coins, $2,960 to $45,600 for cameo coins, and $3,750 to $72,000 for deep cameo coins. The highest recorded sale for this coin was a PR69 Ultra Cameo which was sold at Heritage Auctions in 2006 for $126,500. Another notable sale was a Deep Cameo 1896, sold at American Numismatic Rarities (ANR) in 2005 for $92,000.
1896 Morgan Silver Dollar Grading
Today, it’s very rare to find the 1896 Morgan Silver Dollar in a higher grade like in MS68 from this video. You will typically find them in three grades: MS63, MS65, and MS67.
MS63 has minor impairments and visible contact marks but still has attractive eye appeal. MS65 is a high-quality coin with few small contact marks, above-average eye appeal, and an undisturbed mint luster. MS67 is a rare and exceptional coin with almost perfect original mint luster, only three or four minimal contact marks, and superb eye appeal. The obverse and reverse of each grade vary in the presence of wear, distracting marks, and detail.
Rare 1896 Morgan Silver Dollar Error Lists
Check out this video for the rarest 1896 Morgan Silver Dollar to help you understand why it’s so highly treasured among coin collectors.
1. 1896 Morgan Silver Dollar Lamination Error
A lamination error occurs when the metal used to make a coin separates in layers, causing a piece of the coin’s surface to peel away. This can happen before or after the minting press strikes the coin.
In the case of the 1896 dollar coin from Philadelphia with a lamination error on Liberty’s cheek, despite the error, the coin was still assessed as MS64 by NGC and was sold at auction for $70.
2. 1896 Morgan Silver Dollar Partial Collar Error
An 1896 Morgan Silver Dollar evaluated by PCGS with a Mint State 61 grade has something called the “Tilted Partial Collar” mint error. It has a golden/lilac tone, visible luster, and a scratch on Liberty’s neck. The partial collar strike is good; only 9,976,000 were ever produced, but not all have the same error as this one. From the Stack’s Bowers Gallery, some MS62 1896 Silver Dollar also got nearly the same error on the collar, but instead of titled, it was broken at 12, 6, and 9 o’clock positions.
3. 1896 Morgan Silver Dollar Struck Through Error
This Morgan Silver Dollar error indicates that there is a visible defect on the coin caused by a foreign object that was struck onto the coin’s obverse side during the minting process in 1896. A particular piece of this coin with the same error has been graded as MS64 by NGC, according to the Heritage Auction website.
The 1896 silver dollars are not limited to our list above, but be aware that in 2005, PCGS announced that all 1896-O, 1900-O, and 1902-O Silver Dollars with “Micro O” mintmarks were determined to be counterfeit. This determination was made after discovering common die markers across all three dates. Please exercise caution when purchasing these coins and ensure they have been authenticated by a reputable expert.
1896 Morgan Silver Dollar FAQs
Q1: How do you find the mint mark on a 1896 silver dollar?
To find the mintmark on an 1896 Morgan Silver Dollar, you should look at the reverse side of the coin, just below the ribbon that ties the eagle’s tail feathers. The mintmark will be either an “S” for San Francisco or an “O” for New Orleans. The lack of a mintmark means that it was from Philadelphia.
The presence of these mintmarks is an important aspect that significantly impacted the 1896 silver dollar’s value, with those minted in San Francisco generally commanding a higher value due to their rarity and the fact that they were struck with special dies that produced a proof-like finish.
Q2: What’s the value of a 1896 silver dollar?
The NGC Price Guide provides an estimate of the value of a coin based on its condition and other factors such as rarity and demand. As of the March 2023 update, a circulated 1896 Morgan Dollar can be worth anywhere between $34 to $63. However, rare coins, especially those unblemished and uncirculated specimens of the 1896 Silver Dollar, can sell for up to $18,500 or more.
We trust that this article has provided you with valuable insights and addressed your queries regarding the significance of the 1896 Silver Dollar value. Should you require additional information or are interested in other coins, we have a wealth of knowledge and resources to help you.
We recommend conducting thorough research and seeking advice from reliable experts before investing in rare coins like the 1896 Morgan Silver Dollars. With our comprehensive coverage and your newfound knowledge, you’ll be well on your way to becoming a proficient numismatist.