The 1896 Morgan silver dollars have value as both numismatic coins and as silver bullion. Keep reading to learn more about these coins.
Specifications
Type: Morgan Silver Dollar
Year: 1896
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .77344 oz.
Total Weight: 26.73 grams
Current Silver Bullion Value: $24.17
The US minted the 1896 silver dollar with no mint mark and also the 1896 O silver dollar and 1896 S silver dollar. The mint mark, when present, can be found on the reverse side of the coin below the wreath.
| Series | Location | Quantity Minted |
|---|---|---|
| 1896 | Philadelphia | 9,976,000 |
| 1896 O | New Orleans | 4,900,000 |
| 1896 S | San Francisco | 5,000,000 |
Value
This coin in circulated condition is worth at least its weight in silver. The silver melt value for this coin is $24.17. This melt value is calculated from the current silver spot price of $31.25 per ounce.
The 1896 silver dollar with no mint mark is worth around $48 in very fine condition. In extremely fine condition the value is around $49. In uncirculated condition the price is around $70 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $225.
The 1896 O silver dollar is worth around $55 in very fine condition. In extremely fine condition the value is around $85. In uncirculated condition the price is around $2,000 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $185,000.
The 1896 S silver dollar is worth around $165 in very fine condition. In extremely fine condition the value is around $525. In uncirculated condition the price is around $3,500 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $11,500.
Proof coins with no mint mark are available and they are each valued at around $3,750 in PR 63 condition. There were only 762 proof coins minted.
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Grading System
Very fine- Two thirds of Liberty's hair lines from above her forehead to her ear are visible.
Extremely fine- Liberty's hair lines and ear look strong.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
MS 65 gem uncirculated- There is strong luster and eye appeal. A few light contact marks are present but they are barely noticeable.
PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. There are no major flaws.
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