A valuable piece of American numismatic history, this particular coin represents a significant period of silver coinage production. It is a United States dollar coin minted in 1879 featuring a depiction of Liberty on the obverse and an eagle on the reverse. Its creation was authorized by the Bland-Allison Act of 1878.
The allure of this coin lies in its historical significance, silver content, and collectibility. The coins from this era offer a tangible connection to the late 19th century and the economic policies of that time. Their silver composition contributes to their intrinsic value, while their relatively high mintages, particularly from certain mints, make them accessible to a wide range of collectors.
The characteristics of these coins, including mint marks, condition, and variations, are of paramount importance to both collectors and investors. Subsequent sections will delve into grading standards, key dates and mint marks, and the factors that influence their value in today’s market.
1. Mint Mark Location
The mint mark on an 1879 silver dollar signifies the specific United States Mint facility where the coin was struck. The presence and location of this mark are critical factors in determining the coin’s rarity and, consequently, its value. An 1879 dollar minted in Philadelphia carries no mint mark; however, those struck in Carson City (“CC”) or New Orleans (“O”) are clearly marked. These marks are found on the reverse of the coin, below the wreath.
The Carson City Mint produced a limited quantity of these dollars, making the “CC” marked examples significantly more valuable than those from Philadelphia or New Orleans. For instance, an 1879-CC in uncirculated condition commands a substantially higher price due to its scarcity. The location is always the same, but the presence or absence, and the specific mark itself, have a direct impact on desirability.
Understanding the mint mark location and identifying its presence or absence is vital for collectors and investors assessing the value of an 1879 silver dollar. This understanding prevents misidentification and ensures accurate valuation. For example, a coin without a mint mark is not necessarily more valuable than one with an “O” mint mark; the “CC” is the premium one. Misinterpretation leads to incorrect pricing. Accurately determining the mint mark and connecting it to mintage figures is therefore a fundamental step in numismatic evaluation.
2. Silver Composition
The intrinsic value and historical significance of an 1879 silver dollar are inextricably linked to its silver composition. By law, these coins contain 90% silver and 10% copper. This composition, established by the Bland-Allison Act, directly influenced the coin’s initial acceptance and subsequent role in the American economy. The market value is inherently tied to the fluctuating price of silver, impacting its worth as a precious metal beyond its numismatic appeal.
The guaranteed silver content facilitated the coin’s use in international trade and provided a stable store of value during a period of economic uncertainty. For example, during the late 19th century, individuals could rely on the intrinsic value of the silver to maintain purchasing power. Furthermore, the silver content contributes to the coin’s durability, allowing many examples to survive in relatively good condition despite extensive circulation. Its composition protects the coin from natural damage.
Understanding the silver composition of an 1879 silver dollar is essential for accurate valuation and historical context. While numismatic value depends on factors beyond metal content (rarity, condition), the inherent worth of the silver provides a baseline for its market price. Changes in silver prices directly affect the coin’s value, underscoring the importance of this compositional understanding. This knowledge protects investors from overpaying based solely on collector appeal without acknowledging the underlying metal value.
3. Strike Quality
The strike quality of an 1879 silver dollar refers to the sharpness and completeness of the coin’s design details. It is a critical factor in determining the coin’s grade and value. A well-struck coin exhibits crisp features and full details, while a poorly struck coin may show weakness or absence of design elements. Evaluation of strike quality requires careful examination under magnification.
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Full Detail on Hair and Drapery
A strong strike will fully render the fine details of Liberty’s hair and drapery. Weakness in these areas, particularly on the higher points of the design, indicates a less-than-ideal strike. For example, a coin with a fully defined hair bun will command a premium over one where the details are soft or missing. This is because complete details is an immediate indicator of a superior strike and preservation.
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Eagle’s Breast Feathers and Talons
On the reverse, the sharpness of the eagle’s breast feathers and talons is a key indicator of strike quality. A fully struck coin will show distinct feather detail and well-defined talons gripping the arrows and olive branch. Softness in these features suggests a weaker strike. Poor details significantly diminish the visual appeal and collector value.
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Lettering and Denticles
Sharp, clear lettering and well-defined denticles (the small tooth-like projections around the coin’s rim) are hallmarks of a well-struck dollar. Weak or incomplete lettering and denticles suggest a soft strike or worn dies. A coin exhibiting these characteristics is considered less desirable, even if other aspects of its condition are acceptable. Sharpness is a fundamental element of an appealing coin.
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Luster and Cartwheel Effect
The original luster, sometimes referred to as the “cartwheel effect” due to the swirling light reflection when the coin is rotated, is also linked to strike quality. A strong strike helps preserve the coin’s original luster, enhancing its visual appeal. Weakly struck coins often lack this effect, appearing dull or washed out. Maintaining the luster is highly desirable to collectors.
Assessing strike quality is an essential skill for collectors and investors interested in 1879 silver dollars. Understanding the elements that contribute to a strong or weak strike allows for more accurate grading and valuation. Strike quality, when considered alongside other factors like mint mark and preservation, dictates the ultimate worth. It provides a tangible measure of minting precision and subsequent preservation.
4. VAM Varieties
VAM varieties, an acronym for Van Allen-Mallis varieties, denote distinct die variations found within specific years and mint marks of Morgan silver dollars, including the 1879 issue. These variations arise from subtle differences in the dies used to strike the coins, such as repunched mint marks, doubled dies, or other minor errors. The identification and cataloging of VAM varieties represent a specialized area of numismatics, adding another layer of complexity and collectibility to the 1879 silver dollar series. For instance, an 1879-S dollar with a repunched mint mark may be designated as a specific VAM variety (e.g., VAM-4), differentiating it from a standard 1879-S issue and increasing its potential value to specialized collectors. The existence of VAM varieties creates a demand for detailed numismatic knowledge and careful examination of individual coins.
The importance of VAM varieties lies in their ability to transform a common date and mint mark into a significantly more valuable and sought-after coin. Collectors specializing in VAMs meticulously search for these minute die differences, often using high magnification and specialized reference materials. This intense scrutiny and the potential for discovering a rare or previously undocumented variety, such as an 1879-O with a unique die crack pattern (hypothetical example), drives interest in this area of numismatics. Furthermore, the study of VAMs provides valuable insights into the minting processes and die-making techniques used during the late 19th century. They reveal details of how the coin was crafted.
Understanding VAM varieties in the context of 1879 silver dollars requires patience and a willingness to invest time in research and examination. While the majority of 1879 dollars encountered will not be significant VAM varieties, the possibility of finding a rare example remains a compelling draw for many collectors. The challenge lies in accurately identifying and attributing the VAM, which necessitates a strong understanding of die characteristics and the use of recognized VAM catalogs. This pursuit connects the broader appreciation of the 1879 silver dollar to the meticulous study of subtle die variations, enhancing both the historical and monetary value for the specialized collector.
5. Original Luster
Original luster, in the context of an 1879 silver dollar, refers to the mint-fresh surface sheen imparted during the striking process. This luster is a result of the microscopic flow lines created as the dies impress the design onto the silver blank. Its presence is a primary indicator of a coin’s uncirculated condition and significantly influences its numismatic value. A coin with intact original luster will exhibit a vibrant, swirling “cartwheel” effect when rotated under light. This visual characteristic is a direct consequence of the minting process and subsequent lack of wear.
The preservation of original luster directly correlates with the coin’s handling and storage history. Environmental factors, improper storage, and cleaning can all diminish or obliterate this delicate surface feature. For example, an 1879-CC silver dollar stored in a humid environment may develop toning or discoloration, obscuring the original luster and reducing its grade. Similarly, attempting to clean a coin to remove toning will invariably damage the surface, permanently destroying the original luster and significantly devaluing the coin. Conversely, a coin carefully preserved in a protective holder from the time of its minting may retain nearly all of its original luster, increasing its appeal to collectors.
Understanding the significance of original luster is crucial for accurately grading and valuing 1879 silver dollars. While other factors like mint mark and strike quality contribute to a coin’s worth, the presence and quality of its original luster serve as a powerful indicator of its overall condition and rarity. A coin retaining its original luster signals it hasn’t been actively in circulation. Recognizing and protecting this feature is essential for maintaining and potentially increasing the long-term value of these historic coins. Therefore, knowledgeable collectors prioritize coins with intact luster, recognizing its rarity and aesthetic appeal.
6. Mintage Figures
The mintage figures for the 1879 silver dollar are a critical determinant of its scarcity and, consequently, its value to collectors. These figures represent the total number of coins struck at each mint facility: Philadelphia (no mint mark), Carson City (“CC”), and New Orleans (“O”). Variations in mintage quantities directly influence the relative rarity of coins from each mint. For example, the 1879-CC dollar, with a significantly lower mintage than the 1879 dollar from Philadelphia, commands a higher premium due to its relative scarcity. These figures reflect the economic conditions and minting priorities of the time, which impact the coin’s current value.
Mintage figures directly affect the availability of the coin in various grades. A higher mintage generally indicates a greater survival rate, offering collectors more opportunities to acquire examples in different conditions. Conversely, lower mintage figures often translate to fewer surviving examples, particularly in higher grades. The 1879-O dollar, while not as scarce as the 1879-CC, still possesses a mintage figure that contributes to its collector value. Knowing the mintage quantity allows informed purchasing decisions; for instance, understanding that the Philadelphia mint produced a large quantity of 1879 dollars enables collectors to focus on acquiring examples with exceptional strike quality or unique characteristics.
The impact of mintage figures extends beyond mere scarcity. These figures provide valuable insight into the historical context surrounding the coin’s production, reflecting economic policies and minting practices of the era. Studying mintage figures in conjunction with other factors, such as strike quality and VAM varieties, offers a holistic understanding of the 1879 silver dollar’s numismatic value. The accurate interpretation of mintage data is thus essential for both novice and experienced collectors seeking to build informed and valuable collections. The scarcity shapes collectibility.
Frequently Asked Questions
This section addresses common inquiries regarding the 1879 Morgan Silver Dollar, providing clarity on various aspects of its value, history, and collectibility.
Question 1: What factors primarily determine the value of an 1879 Morgan Silver Dollar?
The value is influenced by mint mark (or absence thereof), condition (grading), strike quality, the presence of any notable VAM varieties, and prevailing silver prices. The “CC” mint mark signifies a coin from the Carson City Mint. It is rare and valuable. The Philadelphia coin has no mint mark.
Question 2: How does the silver content of an 1879 Morgan Silver Dollar affect its worth?
As a 90% silver coin, its intrinsic value is directly tied to the current market price of silver. This provides a base value, with numismatic value (rarity, condition) adding to it.
Question 3: Where can one locate the mint mark on an 1879 Morgan Silver Dollar?
The mint mark, if present (Carson City “CC” or New Orleans “O”), is located on the reverse of the coin, below the wreath. Philadelphia-minted coins bear no mint mark.
Question 4: Is cleaning an 1879 Morgan Silver Dollar advisable?
Cleaning is generally discouraged as it can irreparably damage the coin’s surface, diminishing its original luster and significantly reducing its numismatic value. Preservation is preferred over restoration.
Question 5: What are VAM varieties, and how do they impact value?
VAM varieties are die variations arising during the minting process. Rare and well-documented VAMs can substantially increase a coin’s value to specialized collectors.
Question 6: Does the presence of original luster affect the coin’s value?
Yes, original luster is a crucial indicator of uncirculated condition. A coin with strong, original luster typically commands a higher premium than a comparable coin with diminished or absent luster.
Understanding these factors is essential for assessing the true value and historical significance of an 1879 Morgan Silver Dollar.
The next section will discuss strategies for collecting and preserving these coins.
Tips for the Collector of 1879 Morgan Silver Dollars
Successfully navigating the complexities of collecting these coins requires a strategic approach. These tips can improve knowledge and preservation skills.
Tip 1: Prioritize Knowledge Acquisition: Before acquiring any examples, conduct thorough research. Familiarize yourself with grading standards, mint mark locations, VAM varieties, and historical mintage figures. Knowledge mitigates risks.
Tip 2: Establish Grading Expertise: Accurate grading is paramount. Study the official grading standards utilized by reputable grading services. Compare examples across different grades to discern subtle differences in wear and surface condition.
Tip 3: Focus on Specific Mint Marks: Consider specializing in coins from a particular mint. Concentrating on the Carson City (“CC”) issues, for instance, requires deep knowledge of this mint’s specific characteristics and potential die variations.
Tip 4: Exercise Prudence Regarding Cleaning: Avoid cleaning coins. Cleaning invariably damages the original surface and diminishes numismatic value. Preserve coins in their current state.
Tip 5: Implement Proper Storage Protocols: Employ archival-quality holders or albums specifically designed for coin preservation. These protect from environmental damage and prevent deterioration.
Tip 6: Consult with Numismatic Professionals: Seek the guidance of experienced numismatists or reputable coin dealers. Their expertise can prove invaluable in identifying authentic coins, evaluating condition, and assessing fair market prices.
Tip 7: Document Acquisitions Meticulously: Maintain a detailed inventory of your collection. Record purchase prices, grading information, and any pertinent details about each coin’s provenance or unique characteristics.
Adherence to these tips will enhance collecting and preservation. A knowledgeable, cautious, and strategic approach increases the likelihood of building a valuable collection.
The final section concludes this exploration of the 1879 Morgan Silver Dollar, summarizing its key attributes and enduring appeal.
Conclusion
The preceding analysis has explored the diverse facets of the 1879 Morgan Silver Dollar, from its minting history and silver composition to its complex grading standards and the significance of VAM varieties. The value of each piece hinges upon a confluence of factors, with condition, mint mark, and the presence of original luster being paramount considerations. Understanding these nuances is vital for both seasoned numismatists and novice collectors alike. Knowledge of the coin’s qualities enables sound decision-making within the numismatic market.
The 1879 Morgan Silver Dollar remains a tangible link to a pivotal era in American history, representing not only a monetary instrument but also a cultural artifact. Collectors are encouraged to approach this pursuit with diligence and informed discernment, recognizing the inherent historical and potential financial value these coins possess. Continued research and careful preservation will ensure that these pieces of American heritage endure for future generations.
