If you have been searching to know the 1891 Morgan Silver dollar value, then look no further, you have made the right stop. This article was written specifically to help end your search.
The value of this coin varies significantly in the market as a result of different factors such as grade, mint, rarity, and preservation of pieces.
We have created this guide to give you adequate information on the value of this coin. Considering the fact that over 23,000,000 pieces were produced in that year, this coin is one of the cheapest on the market.
Although the 1891 CC Morgan Silver Dollar pieces are relatively rare, and highly prized by collectors, they cost more than other mints of this year. Putting all these varying factors into consideration, especially with the truckload of numerous differing answers on the internet, we have effectively answered this nagging question “How much is a 1891 Morgan Silver dollar worth?”
Most Valuable 1891 Morgan Silver Dollar
The Most Valuable 1891 Morgan Silver Dollar was Sold on Jan 5, 2006 for: $195,500.00
The 1891 Morgan Silver Dollar
|Metal Composition||90% Silver – 10% Copper|
|Mint Marks||None (Philadelphia)
CC (Carson City)
S ( San Francisco)
O ( New Orleans)
|Designer||George T Morgan|
|Obverse design||Lady Liberty|
Generally, The Morgan Silver Dollar nicknamed Cartwheels because of their large size and weight are still very popular and desired among collectors. In a bid to assemble a complete collection of this coin, collectors go after every year of them they can find.
Although the Pittman Act destroyed over 270 million Morgan Silver Dollars and caused a decline in the number of coins available, this task can be a bit daunting.
1891 Morgan Silver Dollars: History
The Morgan Silver Dollar, named after its designer George T Morgan, who was the United States Mint Assistant, was minted from 1878 to 1904, and a reissue was done in 1921.
In more recent times, in 2021, the US Mint began production of the Morgan’s Silver Dollars; this was done initially to celebrate the 100th anniversary of the conclusion of the design’s final use but there are plans to start an annual release from 2023.
This was the first standard silver dollar minted since the passage of the Coinage Act of 1873; this act put an end to the free coining of silver and production of the Seated Liberty dollar.
This 1891 silver dollar was authorized by the Bland-Allison Act which stated that the Treasury would purchase between two and four million dollars worth of silver at market value to be coined into dollars each month.
In the early 1960s, uncirculated Morgan dollars were found in their original bags in the Treasury vaults. People started buying large quantities and hoarding them; this eventually removed it from circulation.
In 1891, over 23 million of this silver coin were minted from four different mints which included Philadelphia, New Orleans, Carson City, California, and San Francisco.
1891 Morgan Silver Dollar Design
On this side of the coin is inscribed “E. PLURIBUS UNUM 1891.” which means out of many. It depicts Lady Liberty with a crown on her head facing left. Also notable are the 13 stars on this side of the coin.
This side of the coin features an eagle with its head turned left, its wings wide spread, clasping arrows, and an olive branch with its feet. Inscribed on this side of the coin is “ONE DOLLAR, UNITED STATES OF AMERICA, IN GOD WE TRUST”. About two-thirds of the eagle is surrounded by a wreath.
The 1891 Morgan Silver Dollar – Mint Marks
There are four mints of this dollar and to identify where the coins were struck, you should check for the mint mark, they are usually marked on the reverse side of the coin just beneath the wreath, right above and in between the “D” and “O” in “Dollar”. They vary from S, CC, and O according to where it was struck. Only the Philadelphia mint that has no mint mark.
1. 1891 CC silver dollar (Carson City)
This is the rarest of all the 1891 Morgan Silver dollars It was beautifully done with sharp edges and lovely luster. A large number of them were hidden in vaults and put back into use in the 1940s. The 1891-CC Morgan Silver Dollar is worth $99 in average condition and can be worth up to $5,712 or more in mint condition.
2. 1891 O Morgan Silver Dollar
The 1891 O Morgan silver dollar is said to have many flaws from production. However, it is a highly valued coin, especially when in Mint Condition. The 1891-O Morgan Silver Dollar is one of the most valuable of all United States coins, with an estimated value of $33 in average condition, and can be worth $233 to $8,516 or more in Uncirculated (MS+) Mint Condition.
3. 1891 S Morgan Silver dollar (San Francisco)
San Francisco Mint is the second least mint that was produced. The 1891-S Morgan Silver Dollar, in average condition, is estimated to be worth $33. In uncirculated (MS+) mint condition, it can be worth as much as $83 to $1,770 or more.
4. 1891 Philadelphia
This is the highest populated 1891 coin. This mint was also made in proof coins; only 650 Proof coins were made. While the 1891 P Morgan Silver Dollar is one of the most popular US coins, it can be worth as much as $33 in average condition and can be worth more than $88 to $9,140 in uncirculated (MS+) mint condition. The proof version of the coin is worth even more: it can be worth up to $3,220 in perfect condition.
Only 650 of these coins were made in 1891, hence very valuable and it was in the Philadelphia mint. Being one of the lowest mintages the value is very high and it is sold for approximately $1000 – $3000 or more. Its condition also contributes to its price. You should buy from a reputable dealer to avoid buying counterfeit coins.
Grades of 1891 Morgan Silver Dollar
Good coins are usually heavily damaged coins with chippings, scratches, bad shapes, and some details of the coins wiped out. Coins graded as Good are usually very dull, have a lot of wear, and are void of any luster. Even though they are in poor condition they are still sold for the purpose of completing collections and also because of the silver.
In the Fine grade of coins you will find coins that have been in circulation for a long period of time and have incurred some wear, scratches, and smoothness as a result of many exchanges of hands but have managed to stay in good shape and avoided serious damages.
Extremely Fine Grade
This grade is usually given to coins that have been in circulation for only a short period of time. They are usually almost perfect and have a few scratches and no wear on their surfaces.
With no luster lost, its original luster and texture intact, to have coins in the uncirculated condition is every collector’s dream to have. Coins that are in uncirculated condition have never been used in the open market, have no wear, are in excellent condition, and are as good as new. Although they are highly desired, they are also very rare and as a result, are very valuable and cost more than the other coins.
1891 Silver Dollar Error
There is an error version of the 1891 Morgan silver dollar, it is called the “spitting eagle” this is because of where the error occurs. It’s a die gorge mint error right at the opening of the mouth of the eagle, it definitely seems like it was perfectly positioned to make it seem like the eagle was spitting. The perfect picture I must say! You can find this error on the reverse side of the 1891 cc Morgan silver dollar (Carson City mint)
If this will affect the 1981 Morgan Silver dollar value it is hard to tell as there are many other deciding factors.
Frequently Asked Questions
How much is a 1891 Silver dollar worth?
There are many factors that can affect the 1891 Morgan silver dollar value. How these coins are valued is determined by factors like the grade, rarity, condition, and preservation of the coins. It can range from $28 if it is in good condition to over $9000 if it is in uncirculated condition.
What is the rarest 1891 Morgan Silver Dollar?
The rarest mintage of the 1891 Morgan Silver dollar is the Carson City (marked cc); only over 1.5 million of this was produced.
Is an 1891 Morgan Dollar rare?
No, generally speaking, the 1891 Morgan silver dollar is not rare, over 23 million of these coins were produced
Are there any 1891 Morgan Dollar errors?
Yes 1891-CC Spitting eagle, in this error coin the eagle appears to be spitting because there’s a mark very close to its beak.
Are there any Proof coins for 1891 Morgan Silver dollars?
Yes, there are 1891 Morgan Silver dollar Proof coins, although they are scarce since only 650 of them were made in the Philadelphia Mint,
Why are some 1891 Morgan Silver dollars not mint marked?
The 1891 Morgan Silver Philadelphia mints were produced without marks, so all 1891 Morgan Silver Dollar coins you see without mint marks are most likely Philadelphia mints.
If you are looking to sell an 1891 silver dollar and you are wondering what the value is, one piece of advice I can give to you is, no matter how tempting it is, do not clean your coin. As contradictory as this may sound, this will significantly reduce any 1891 silver dollar value or any coin at all. No matter how significant the tarnish or dirt is, these coins should be left in their original state. You might be unable to sell your coin if you clean it.
The 1891 Morgan Silver dollar value depends largely on all the factors listed in this article. Carefully go through as this will help you tremendously on whatever decision you need to make if you would like to buy or sell a 1981 silver coin.