How much is a silver dollar worth? Asked Dennis
I have 3 silver dollars at home. Recently, I went to a flea market where I was told that some silver dollars can be extremly valuable. I know that my dad bought silver dollars from time to time, many years ago but I never saw him spending more than 10 bucks for such a coin. My dad also has no clue about the value. He just bought them for me, my brother and my cousines. We got them for X-mas and to other occations. I had lots of this coins but do you know what I did? I sold them at the beginning of the 2000s as eBay popped up. I don’t want to think about the money I could have lost. Alex, I sent you some photos. How much is a silver dollar worth? And do you see a rare Silver Dollar in my small lot?
Dennis from Aurora in Colorado
Dear Dennis, Silver Dollars are an important part of the numismatic history of the US. Silver Dollars are minted since 1794. Very early minted Silver Dollars are very rare and extremely expensive. I was working with a couple of very early silver Dollars before. I remember one Silver Dollar very clearly. It was a very special coin in very fine quality. It came from a huge coin collector’s inheritance and was sold for a little more than $21,000. But Dennis, such coins are unbelievably rare. It’s like hitting a lottery jackpot when you own such a coin by accident. But Dennis, you own 3 nice Silver Dollars and relating to one of your coins, I have very good information for you.
reDollar appraiser, Alex Fordham
Dennis wants to know, how much is a silver dollar worth?
Dennis: I sold most of my Silver Dollars in the early 2000s, as eBay popped up. It was a convenient way to get some extra cash for my juvenile idiocy. I was young and cash for ice cream and hanging out with friends was hard to acquire. My Silver Dollars were a great cash resource. But now I was told that some dollars can be a cash cow and therefore I sent you some photos of my Silver Dollars. How much is my silver dollar worth?
Alex: I’m happy to help you with your concern. Two coins you sent me are so-called Morgan Silver Dollars. This coin which was minted 1976 is an Eisenhower Dollar. The Morgan Silver Dollar coin is a very popular and well known silver coin, here in the US. Morgan coins were minted between 1878 and 1904, in 1921 and between 1840 and 1873. Did you know that in total about 657 million Morgan coins were minted? They are called Morgan coins, honoring George T. Morgan who has designed the coin. Your 1889 Morgan Silver Dollar is not rare or special. Such a coin sells for about $20. But your 1890, “O” minted Silver Dollar is interesting to me. “O” shows us that this coin was minted in New Orleans. It’s a rare coin and it seems to be in good condition. I think that this coin can sell for about $250, maybe also for a bit more if the condition is really fine, what I guess, and if there are no rim nicks or other damages.
Dennis: Oh my goodness. That’s money for a coin my dad spent not more than $10 for. I don’t want to think about the coins I already auctioned. Maybe I sold more valuable coins without knowing.
Alex: That’s questionable but possible. I recommend you to stop thinking about that. I tell you, you’re a lucky man owing an 1890 “O” minted Morgan Silver Coin.
Dennis: Don’t get me wrong. I’m very thankful having such a coin (laughing). What about the 1976 silver coin?
Alex: This coin is not a Morgan Dollar. It’s a nice Eisenhower Dollar. Such coins were minted between 1971 and 1978 but aren’t made of silver. It’s a copper-nickel coin showing Dwight D. Eisenhower on the reverse. The obverse honors and reminds of the Apollo 11 mission. This coin sells between $3 and $30, depending on the condition and coinage.
Dennis: Oh, I thought this is a silver coin. This are bad news, but I’m very happy to know that I have a small treasure here. What about other US silver coins? How much are other silver dollars worth? I ask you because I also have some other different silver coins here. Can you list other interesting silver coins for me?
Alex: It would be better to send some photos to me so that I can take a look on your other coins. There are numberless of interesting coins circulating. I’m collecting silver coins since years and there are always new coins to discover. Recently, I had a small silver coin collection here in my laboratory: a 1809 Capped Bust half dollar (value: around $85), a 1882 CC graded Morgan (value: around $450), a 1876 Trade Dollar “120 GRAINS, 900 FINE” (value: around $200), a 1922 Grant Memorial half silver Dollar (value: around $120), a very special 2011 United States Army Commemorative silver Dollar (value: around $25) and a very valuable 1925 Stone Mountain half dollar in finest quality (value: around $840). I know from many customers that they find rare coins from time to time on the flea market. Maybe you begin to buy silver dollars from time to time?
Dennis: Maybe I’ll do that someday.