The 1891-S Morgan Dollar is a rare and valuable coin that holds a special place in the hearts of coin collectors. It was minted during a time when silver dollars were commonly used, but only a limited number of these coins were made, making them highly sought after today. In this article, we’ll explore the reasons why the 1891-S Morgan Dollar is considered so rare and valuable, and how you can determine its worth if you own one.
What is the 1891-S Morgan Dollar?
The 1891-S Morgan Dollar is part of the Morgan Dollar series, which was first introduced in 1878. These silver coins were made by the United States Mint and were widely circulated during the late 19th and early 20th centuries. The “S” in the name refers to the mintmark, which indicates that the coin was made in San Francisco.
The 1891-S Morgan Dollar features a portrait of Lady Liberty on the front and an eagle on the back. It is made of 90% silver and 10% copper, which gives it both historical and monetary value. The coin’s design is one of the reasons why it remains a favorite among collectors.
Key Features of the 1891-S Morgan Dollar
| Feature | Description |
|---|---|
| Material | 90% Silver, 10% Copper |
| Obverse Design | Portrait of Lady Liberty |
| Reverse Design | American Eagle with the words “United States of America” |
| Mint Year | 1891 |
| Mintmark | “S” for San Francisco |
| Diameter | 38.1 mm |
| Weight | 26.73 grams |
Why is the 1891-S Morgan Dollar Rare?
Several factors contribute to the rarity of the 1891-S Morgan Dollar. Let’s take a closer look at these reasons.
1. Low Mintage
The 1891-S Morgan Dollar had a relatively low mintage compared to other years in the Morgan Dollar series. Only around 100,000 of these coins were minted, making it one of the rarest coins in the series. Low mintage numbers mean fewer coins are available, which makes the remaining coins highly valuable.
2. High Demand Among Collectors
Coin collectors are always looking for rare and unique coins to add to their collections, and the 1891-S Morgan Dollar is a top choice. Its rarity, historical significance, and beautiful design make it highly desirable. As more collectors look for this coin, its demand continues to rise, driving up its value.
3. Silver Content
The 1891-S Morgan Dollar is made from 90% silver, which adds intrinsic value to the coin. As silver prices fluctuate, the value of silver coins like the 1891-S Morgan Dollar increases. This makes the coin even more valuable, especially when silver prices are high.
4. Condition of the Coin
The condition of the coin plays a significant role in determining its value. Coins that are in excellent or uncirculated condition are worth much more than those that are heavily worn or damaged. The 1891-S Morgan Dollar is often found in worn condition, which makes those in better shape even more valuable to collectors.
5. Historical Significance
The Morgan Dollar series is one of the most famous and iconic coin series in American history. The 1891-S coin was minted during a time when silver was an important part of the U.S. economy. As such, it holds historical value, which further increases its appeal and worth.
How to Determine the Value of the 1891-S Morgan Dollar
If you are lucky enough to own an 1891-S Morgan Dollar, you might be wondering how much it’s worth. The value of the coin depends on several factors, including its condition, demand, and silver content. Here is a table showing the estimated value of the coin based on its condition:
| Condition | Estimated Value |
|---|---|
| Good (G-4) | $200 to $350 |
| Very Fine (VF-20) | $500 to $700 |
| Extremely Fine (EF-40) | $1,000 to $2,000 |
| Uncirculated (MS-60) | $3,000 to $5,000 |
The value can vary depending on the coin’s condition, with those in uncirculated or excellent condition fetching the highest prices. If you’re not sure about your coin’s condition, it’s a good idea to have it appraised by a professional.
Conclusion
The 1891-S Morgan Dollar is a rare and valuable coin that continues to be highly sought after by collectors. Its low mintage, historical significance, silver content, and increasing demand all contribute to its high value. If you own one of these coins, it’s important to take care of it and understand its potential worth. Whether you’re a seasoned collector or just starting, the 1891-S Morgan Dollar is a treasure to have in any collection.
FAQ’s
1. Why is the 1891-S Morgan Dollar considered rare?
The 1891-S Morgan Dollar is rare because only about 100,000 were minted, making it one of the lowest mintage coins in the series.
2. How can I tell the value of my 1891-S Morgan Dollar?
The value of the coin depends on its condition. Coins in better condition, like uncirculated ones, are worth more.
3. What is the silver content of the 1891-S Morgan Dollar?
It is made of 90% silver and 10% copper, which adds to its value, especially when silver prices are high.
4. Why do collectors want the 1891-S Morgan Dollar?
Collectors value it for its rarity, historical significance, and beautiful design. It is also made of silver, which makes it more valuable.