In the so late 1800s, silver dollars were supplied as a currency and they were in wide circulation. Among such coins minted in 1879 is now a commodity that’s largely sought after ~ by the collector community. The coin isn’t that rare yet it’s quiet noticeable enough that it’s worth selling and that over there will constantly be buyers for it.
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The worth of the dissension today depends on a variety of components including the truth that it’s make from silver, meaning that the will always be worth at least its worth in silver. It also depends ~ above supply and also demand and the condition of the coin.
History of the coin
The coin has actually a rich background because that came around due to the recently uncovered silver mines the have created a silver- rush in the 1850s. The sudden exploration of silver practically ended the gold rush that was happening in California in ~ the same time.
In stimulate to use the newly found silver, the government used a Bland-Alison Act, which mandates the federal government to acquisition a large amount of silver- from the Comstock Lode mines and use the to develop silver currency.
The 1879 dollar chin was produced by George T. Morgan a renowned silver engraver that has a series of coins called after him. Morgan emigrated to the us from Britain and also was rental to architecture coins for the federal government in 1876.
Mintmarks of 1879 dollar
The silver dollar comes in five mintmarks and also six variations. Every of the mints to represent a different city. The initials that stand for these cities are minted listed below the bow on the backside of the coin or under the tail of the eagle’s right.
These mintmarks currently play a role in deciding the worth of the coin because they space not same rare and the coins v the marks that room less generally tend to be worth an ext to the collectors.
The coins the were produced in Philadelphia mint have no clues whatsoever. The letters “CC” on the earlier of the coin space there to represent a Carson Mint. They are worth more. Those that are marked with the letter S are produced in san Francisco. The letter O represents brand-new Orleans mint, and also the letter D clues Colorado.
The condition of the coin is an additional important component of just how the value of it will be determined. The collectors room usually in search of a coin it is in an excellent condition definition that every the features of the coins deserve to be displayed and noticeable. The coins the aren’t in an excellent condition can also be sold, however they will mainly be valued by the amount of silver used to make them.
There’s a grading device put in place to explain how well the coin is kept and also it too has actually a duty in just how it will certainly be priced.
The coins are well-known as:Very fine if “two-thirds that Liberty’s hairlines from above her forehead her ear are visible.”Extremely fine as soon as the hairline and also ears the Lady Liberty look at strongMS 60 Uncirculated condition – it is a coin that hasn’t been supplied at all, but a few stains and also blemishes space toleratedMS 65 Uncirculated condition – yes sir a strong eye appeal and also a few light call marks are tolerated.PR 63 Proof problem – There are no flaws and also blemishes and also the coin has a reflective surface
The coin that’s been circulated is valued in ~ its price in silver. As is the instance with any type of other precious steels the worth of silver- fluctuates and also when the coin is marketed it’s offered for the price of silver- on the day as soon as the coin is sold. At the moment of this writing, silver- is precious $25.8 per ounce. That way that the coin will most likely be worth around $20.
The silver dollar the 1879 v no mint markings will certainly be worth more and it deserve to go for around $32 if it’s in well condition. If it’ in exceptionally fine problem it have the right to go for around $35. Multiple sclerosis grade uncirculated coin is worth around $70. Uncirculated coin in an ms 65 condition is worth roughly $450.
When it concerns rarer coins that have mint markings the price will certainly go up as well. The coin through a CC marking will it is in worth around $310 in good condition. When it’s in an extremely fine condition the coin will be worth about $775. The coins that haven’t been circulated are worth much more. If it wasn’t circulated and also it has an ms 60 great it have the right to be marketed for $4.000. Uncirculated coin through the multiple sclerosis 65 great is worth $42.500.
When it concerns the coins the are significant with an O mintmark they room worth lot less because they are an ext common and easier come find. In well condition, that worth around $42 for one silver- coin. In very fine condition, the worth around $45. Ms 60 uncirculated silver dollar is worth $120. Multiple sclerosis 65 uncirculated dissension is precious as lot as $2450.
Silver dollars indigenous 1879 that are marked with an S have the right to be sold for around $75 if the in an extremely fine condition. If the coin is in the extremely fine problem it deserve to go for around $100. An uncirculated coin v an ms 60 grade goes for $120 and an ms 65 deserve to go because that $4500.
Proof coins can be sold for about $3200 if yes sir no mintmark on them. There are around 1100 of them in circulation altogether.
How to manage 1879 coin
Since it’s a quite old silver- coin and its value counts on exactly how well kept it is, it’s vital that friend know how to take care of the coin in order come preserve and even if it’s feasible to rise its value. The very first thing to understand is the the coin shouldn’t be cleaned since that’s the best means to prove that it’s old and also that it’s to be used.
If the coin no used before that also is noticeable in that is condition and also once again there’s nothing to execute with it, in order to store the pristine problem of the silver and also the coin. If the coin has been cleaned and also its problem improved many collectors will just pass ~ above the purchase.
The coin need to be handled by the edges and stored in a dry and also dark place. It’s finest not to keep it in a wooden box since it will certainly eventually damages the silver over time. It’s additionally useful to uncover ways to keep it dry and also there are clothing that do simply that and also in i m sorry you have the right to wrap it.
Which one to buy?
This is a challenging question to answer since it depends on a variety of factors. The collectors are looking for these dollars based on their rarity and also they would certainly look because that a dollar that’s been produced in the smallest amount that copies. That way that it relies on i beg your pardon mint was used. Collectors are also looking for a coin that’s kept as much as it can be.
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If you purchasing these coins come resell them, it’s possible to do a benefit from every one of them. The very same rule applies in terms of rarity, yet it’s likewise useful come purchase ordinary coins placed in circulation because their value have the right to go up as soon as the price of silver does.