How Much is a 1896 Morgan Silver Dollar Worth? (Price Chart)

In 1896, three mints, including Philadelphia, New Orleans, and San Francisco, produced Morgan silver dollars. Nowadays, these coins have different values depending on their condition and printed mint marks representing each mint’s first letter.

You should give specific consideration to your 1896 S coin since its value goes higher more significantly among collectors than any other. If the coin condition is high, you can get lots of money for it. So, let’s check 1896 Morgan silver dollar value and its characteristics.

1896 Morgan Silver Dollar Grading

1896 Morgan Silver Dollar Grading

Grading Morgan silver dollars from all dates and periods is a skill that is very hard to perfect. Even experienced coin collectors can spend years learning details about a particular coin.

The problem is that the grading procedure and rules are not well defined, but they are more the expression of someone’s opinion and capability to describe the coin’s condition. Some collectors follow a few established rules, but they are still not precise and widely accepted.

However, all included collectors usually come out with the same or similar result. You can quickly agree with or without rules because anyone can undoubtedly see changes on each 1896 Morgan silver dollar. That is especially right when there is a big value gap between grades.

Most numismatists agreed on the Sheldon coin grading scale over time, and they are helpful in precise coin descriptions. Studying this guide will undoubtedly help you understand all those terms and the accuracy of the grading system.

1896 Morgan Silver Dollar Condition

1896 Morgan Silver Dollar Condition

Keep in mind that determining the 1896 Morgan silver coin condition is crucial to its price. However, you should also pay attention to the date and the mint mark on the coin surface.

1896 Morgan silver dollar

Location Year Minted Value
Philadelphia 1896 9,976,000 $35+
Philadelphia 1896 proof 762 $3,000+
San Francisco 1896 S 5,000,000 $100+
New Orleans 1896 O 4,900,000 $35+
Total 1896 19,876,762 /

Uncirculated 1896 Morgan silver dollar

You can say that the 1896 Morgan silver dollar is uncirculated, meaning that the coin is not from commercial usage. It should look like the brand new one without any signs of wear.

About uncirculated 1896 Morgan silver dollar

A coin in this group has minor indications of wear, but all the details are still visible. Only the highest dollar points are slightly blended. There is no more luster present, but all fine details are well-defined.

Extremely fine 1896 Morgan silver dollar

You can be sure that your 1896 Morgan silver dollar is in extra fine condition when it has slight signs of wear but is still pretty fine defined and sharp. Some crucial points to check are the one behind the Liberty’s ear and the large blossoms above. They should look nice with minimal traces of minor usage.

Very fine 1896 Morgan silver dollar

You can see only slight signs of wear are present, and the overall coin condition is still pretty good. Lady’s hair details are evident and readable, with only minor damage and slight blending on the coin edge.

Fine 1896 Morgan silver dollar

Even though signs of usage are visible, the major points of the silver dollar coin are sharp enough. The crucial spot to examine is the hair behind the Lady’s ear. Basically, you can’t see a big difference between coins in extra fine and fine conditions besides the traces of regular use.

Very good 1896 Morgan silver dollar

This coin is usually worn out, but the design is still intact. Significant elements are easy to read, but they are also flat, and there are not enough details present. The coin’s highest points and edges and Lady’s hair are pretty flattened, and only the outer hairline is well-defined.

Good 1896 Morgan silver dollar

You can say that your 1896 Morgan silver dollar is in good condition when lines over its surface become faded and almost invisible. Letters around the edge are worn but still readable.

Coins from this lower grade are often without hairlines over the Lady’s face. Signs of extra usage lower their price, and it is usually equal to the current silver value.

About good 1896 Morgan silver dollar

These coins have many damages and worn signs, but the date should be readable. Liberty’s head is almost flattened with the surface, and you can only notice a few details. The rim is usually much closer to the center and blends with the lettering.

1883 Morgan Silver Dollar Types

1883 Morgan Silver Dollar Types

1896 Morgan silver dollar without a mint mark

If you can’t find any mint mark on your silver dollar, you can be sure that it probably comes from Philadelphia mint. It was the first and only one mint in the US for a long time, so there was no need to print any mint mark.

Once the government set up other mints, they utilized an alternate mint mark to determine where each coin came from. However, those from Philadelphia still stayed without any mint marks. The very first coin with the mint mark of Philadelphia appeared in 1942.

1896 Morgan silver dollar value by USA Coin book
Quality 1896 1896 S 1896 O
Good $27 $60 $30
Very good $33 $64 $37
Fine $39 $75 $42
Very fine $45 $82 $47
Extra fine $47 $243 $51
About uncirculated $50 $864 $179
Mint state 60 $60 $2,346 $1,678
Mint state 65 $285 $20,039 $192,226
Proof 63 $3,144 / /

1896 proof Morgan silver dollar

This marvelous Superb Gem has excellent designing components and shows profound reflectivity. Its platinum-white color is gorgeous, with an inconspicuous trace of vanilla tones close to the line.

This coin is expertly created, which can please even the most demanding collectors. While proof Morgan’s silver dollars made from 1888 to 1893 are often ugly, those that appeared between 1896 and 1898 are among the most wonderful ones.

The Philadelphia mint used specific treatment in the preparation process of dies during that period. As a result, proof Morgans are the most strikingly and desirable coins for collectors and dealers, among other accessible ones.

1896 Morgan silver dollar value by Gainesville coins
Quality 1896 1896 S 1896 O
Very fine $41 $94 $41
Extra fine $42 $436 $81
About uncirculated $46 $1.250 $195
Mint state 61 $57 $3,000 $1.810
Mint state 63 $74 $3,880 $4,440
Mint state 65 $162 $11,200 $163,400
Auction record $18,213

(MS 68)

$402.500

(MS 67)

$345,000

(MS 68)

Nowadays, these coins are among the best survivors from this glorious time, with just seven models graded by PCGS in the Deep Cameo class. You can find this undoubtedly remarkable quality in only 762 remaining coins worldwide.

1896 O Morgan silver dollar

1896 O Morgan silver dollar

The silver price directly determines 1896 O Morgan silver dollar value, but most of its price will come from the condition, grade, and mintage.

As you have probably known, the mintage is the number of produced coins, while the survival rate is the number of still existing units. The interrelationship between these two values directly affects the number of coins in circulation and their price.

The grade will show you the silver dollar condition that ranges from Basal state 1 to MS 70 and its wear level. For instance, one 1896 O Morgan silver dollar in good condition is worth about $30, while the one with the MS 64 grade can reach $40,000.

The 1896 O Morgan silver dollar grade will also depend on the grading institution since grading services differ in their quality.

1896 Morgan silver dollar value by JM Bullion
Coin Extra fine quality Uncirculated quality
1896 Morgan dollar $39 $41
1896 S Morgan dollar $220 $775
1896 O  Morgan dollar $43 $160

 

1896 S Morgan silver dollar

1896 S Morgan silver dollar

The most significant part of 5 million minted 1896 S Morgan silver dollars was in use by the 1950s. Interestingly, no one paid much attention to these coins until the middle 1960s.

Therefore, a considerable amount of coins that survived show lots of marks and usage scratches. As a result, the most attractive 1896 S Morgan silver dollar is from late-date San Francisco mintage. Most of them have excellent strikes and charming brilliance.

Be careful with fake 1896 S Morgan dollars with a counterfeit S mint mark bonded on cheap Philadelphia mint coins.

The PCGS believes that about half a million 1896 S Morgan dollars exist in all possible grades. Only 28,000 of these coins are in mint state, while only 156 are graded MS 65 or higher.

1896 Morgan silver dollar value by CoinStudy, 9/6/2021
Coin Quality
Good Fine Extra fine Uncirculated
1896 Morgan dollar $22.39 $22.39 $24.68 $45.54
1896 O Morgan dollar $27.42 $29 $34.92 $1,034
1896 S Morgan dollar $27.42 $29 $190 $1,831

You can see how rare mint state 1896 S Morgan dollars are when realizing that NGC graded only one as MS 67. PCGS additionally graded one MS 67 and one at an extraordinary MS 69.

Summary

The 1896 Morgan silver dollar belongs to the group of rarer coins. Collectors are ready to pay considerable money for those in good condition or pieces with a higher grade. A few 1896 Morgan silver dollars reached impressive records on auctions.

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