This particular coin is a United States silver dollar that was minted in 1890. It belongs to a series of dollars designed by George T. Morgan and minted from 1878 to 1904, and again in 1921. These coins contain approximately 90% silver and 10% copper, contributing to their intrinsic value. As an example, a circulated specimen from this year could be worth considerably more than its face value due to its silver content, condition, and rarity.
The historical significance of this coin stems from its role in the economic and political landscape of late 19th-century America. It represents the resurgence of silver coinage after the Coinage Act of 1873 effectively demonetized silver. Furthermore, its production coincided with the expansion of the American West and the debates surrounding bimetallism. Collectors value it for its historical context, silver content, and the aesthetic appeal of its design. Appreciation in value depends on its mint mark (or lack thereof), condition, and the demand within the numismatic market.
Understanding the historical production figures, factors influencing its grade, and the market forces at play are crucial to appreciating its true worth. Subsequent sections will delve into these topics, providing a detailed analysis of its production and grading, and exploring the current state of its market value.
1. Silver Content
The value and significance of a particular silver dollar minted in 1890 is intrinsically linked to its silver content. Composed of 90% silver and 10% copper, the bullion value of the coin fluctuates with the prevailing market price of silver. This silver content forms a base value, regardless of the coin’s numismatic grade or rarity. Consequently, even heavily worn or damaged examples retain a certain worth based on the weight of the silver they contain. For instance, if silver is trading at $25 per ounce, the intrinsic silver value of the coin can be calculated, providing a baseline price point.
Beyond its metallic value, the presence of silver played a crucial role in the historical context of the coin’s creation. The Coinage Act of 1873, which demonetized silver, sparked considerable debate and political pressure. The Bland-Allison Act of 1878 and the Sherman Silver Purchase Act of 1890 were enacted to mandate the purchase and coinage of silver, partly in response to these pressures. Thus, the very existence of this coin, and its silver content, is a direct result of these legislative actions and the economic climate of the time.
In summary, the silver content is not merely a physical attribute but a defining characteristic that influences the coin’s intrinsic value, historical context, and collectibility. Understanding this connection is vital for both numismatists and investors seeking to assess the coin’s potential worth. While market value based on grade and rarity can fluctuate, the inherent silver content provides a stable foundation for valuation.
2. Mint Marks
Mint marks are critical identifiers on an 1890 silver dollar, denoting the specific United States Mint where the coin was produced. The presence or absence of a mint mark, and its location on the coin, significantly influences its rarity and, consequently, its value within the numismatic market. These marks offer insights into production volumes and geographic distribution of the coins.
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Location and Identification
The mint mark on an 1890 silver dollar is located on the reverse of the coin, below the wreath and above the “D” in “DOLLAR.” Common mint marks found on these coins are “O” for New Orleans, “S” for San Francisco, and no mint mark, which indicates production at the Philadelphia Mint. Each of these signifies a different production quantity and potential rarity.
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Significance of “O” Mint Mark
The “O” mint mark indicates that the coin was struck at the New Orleans Mint. New Orleans-minted dollars often have lower strike quality and may exhibit variations in luster due to the specific conditions at that mint. The survival rate of high-grade “O” mint mark coins is often lower than those from other mints, contributing to potential collector premiums.
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Absence of Mint Mark (Philadelphia)
Coins produced at the Philadelphia Mint do not bear a mint mark. The Philadelphia Mint typically produced the largest quantities of silver dollars, making these examples generally more common than those from the New Orleans or San Francisco Mints. However, condition plays a crucial role; a high-grade Philadelphia-minted 1890 silver dollar can still command a significant premium.
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Significance of “S” Mint Mark
The “S” mint mark signifies production at the San Francisco Mint. The San Francisco Mint was known for producing coins with a strong strike and attractive luster. As such, coins from this mint are often sought after by collectors, and a well-preserved “S” mint mark 1890 silver dollar can be a valuable addition to a collection.
In conclusion, the mint mark, or lack thereof, on an 1890 silver dollar provides critical information regarding its origin, production volume, and potential value. Examining the mint mark is a fundamental step in assessing the coin’s history and worth, and influences the coin’s place in the overall numismatic landscape.
3. Condition
The condition of an 1890 silver dollar is a primary determinant of its value to collectors and investors. Numismatic grading standards provide a structured framework for assessing the degree of preservation and wear, influencing the coin’s market price considerably.
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Grading Scales and Standards
Professional grading services, such as the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS), assign grades based on the Sheldon scale, ranging from 1 (Poor) to 70 (Perfect Mint State). This scale considers factors such as surface preservation, strike quality, luster, and the presence of any post-minting damage. For example, a coin graded MS-65 (Mint State Choice) exhibits above-average luster and minimal imperfections, while a coin graded AG-3 (About Good) shows significant wear and may have some details partially obscured. The assigned grade directly correlates with the coin’s value.
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Impact of Wear and Damage
Wear and damage, resulting from handling and environmental factors, can significantly reduce the value of an 1890 silver dollar. Scratches, abrasions, cleaning marks, and corrosion detract from the coin’s aesthetic appeal and diminish its grade. Even minor imperfections can affect the premium a collector is willing to pay. For instance, a coin with noticeable hairlines from improper cleaning may be valued significantly less than an otherwise identical coin without such damage. Corrosion, even if minimal, might cause serious damage to coin surface and reduce its value.
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Luster and Eye Appeal
Luster, the way light reflects off the surface of a coin, is a crucial element in determining its grade and appeal. Original mint luster is highly prized, indicating that the coin has not been cleaned or handled extensively. “Eye appeal” encompasses the overall attractiveness of the coin, including its color, toning, and the sharpness of its details. Coins with vibrant luster and attractive toning tend to command higher prices. For example, an 1890 silver dollar exhibiting cartwheel luster and iridescent toning may be more desirable to collectors than one with dull surfaces and no toning.
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Strike Quality
Strike quality refers to the sharpness and completeness of the coin’s design details. A well-struck 1890 silver dollar exhibits crisp features and well-defined lettering. Weak strikes, which can occur due to insufficient pressure during the minting process, result in less distinct details and can negatively affect the coin’s grade. Certain mints, such as the San Francisco Mint (“S” mint mark), were known for producing coins with strong strikes, making those examples particularly desirable.
The interplay between these factors dictates the final assessment of an 1890 silver dollar’s condition and, subsequently, its market value. Collectors prioritize well-preserved examples with strong strikes and original luster, while coins exhibiting wear, damage, or weak strikes are generally valued lower. Proper handling and storage are essential for preserving the condition and value of these historical artifacts.
4. Rarity
The rarity of an 1890 silver dollar is a crucial determinant of its value, influencing collector demand and market prices. Rarity arises from a confluence of factors, including mintage figures at different mints, the attrition rate due to melting or loss, and the survival of coins in higher grades. The interaction of these elements establishes the relative scarcity of specific varieties, thereby impacting their desirability among numismatists. A coin considered common in circulated grades can become highly sought after in uncirculated condition, exemplifying how condition amplifies the effect of inherent scarcity.
For instance, an 1890-CC (Carson City) silver dollar, while not applicable in this specific year, demonstrates this principle clearly. The Carson City Mint produced a limited number of silver dollars, many of which were subsequently melted under the Pittman Act of 1918. This act significantly reduced the number of these coins, leading to substantial premiums for surviving examples. Similarly, for the 1890 dollars, while the Philadelphia Mint produced a larger quantity, finding examples in exceptional condition becomes increasingly difficult with time. This scarcity of high-grade examples increases their market value, as collectors prioritize preservation and aesthetic appeal.
Understanding the interplay between mintage figures, preservation rates, and collector demand is essential for assessing the true rarity and potential value of an 1890 silver dollar. While some varieties may be readily available in lower grades, the scarcity of high-grade specimens drives a competitive market, highlighting the significance of rarity in determining numismatic worth. This understanding is essential to comprehend the true worth of the coin and its relevance to numismatists.
5. Designer
The aesthetic and historical significance of the 1890 silver dollar is inextricably linked to its designer, George T. Morgan. His vision and skill shaped the coin’s iconic imagery, influencing its enduring appeal and contributing to its status as a symbol of American coinage.
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Morgan’s Background and Training
George T. Morgan was a British-born engraver who trained at the Royal Mint in London before immigrating to the United States in 1876 to work as an assistant engraver at the Philadelphia Mint. His European training instilled a meticulous attention to detail and a classical aesthetic, evident in his subsequent coin designs. This foundation equipped him to undertake the significant task of redesigning the silver dollar, contributing to a departure from earlier American coin designs.
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The Design Elements and Symbolism
Morgan’s design features a profile of Lady Liberty on the obverse, modeled after Anna Willess Williams, a Philadelphia schoolteacher. The reverse depicts an eagle with outstretched wings, clutching arrows and an olive branch, symbols of military strength and peace. The inclusion of “E Pluribus Unum” and “In God We Trust” reflects the national motto and growing religious sentiment of the time. These elements combine to create a powerful visual representation of American identity and values during the late 19th century. The particular rendering and composition, a result of Morgan’s artistic choices, define the coin’s aesthetic impact and differentiate it from other coin designs.
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Influence on American Coinage
The Morgan silver dollar represented a shift in American coinage design. Its classical influences and meticulous detailing set a new standard for artistry on American currency. The design proved popular and enduring, remaining in production for several years and influencing subsequent coin designs. The widespread circulation and recognition of the Morgan dollar helped establish Morgan as a prominent figure in American numismatic history. Even today, collectors appreciate the coin for its aesthetic appeal and historical significance, a testament to Morgan’s enduring impact.
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Legacy and Recognition
George T. Morgan served as the Chief Engraver of the United States Mint from 1917 until his death in 1925. His legacy extends beyond the silver dollar, encompassing other coin and medal designs. The Morgan dollar, however, remains his most recognizable and celebrated work. His initials, “GTM,” appear on the coin, a subtle acknowledgement of his contribution. The ongoing popularity of the Morgan silver dollar among collectors ensures his continued recognition as a pivotal figure in the history of American numismatics.
In summary, the 1890 silver dollar serves as a tangible representation of George T. Morgan’s artistic talent and historical context. His design choices shaped the coin’s enduring appeal, contributing to its status as a valuable and iconic piece of American history. The coin is more than just a piece of currency; it is a reflection of Morgan’s skill, the values of the time, and the evolution of American numismatic design.
6. Historical Context
The 1890 silver dollar existed within a complex web of economic, political, and social forces that profoundly influenced its production, distribution, and ultimate value. Understanding this historical context is not merely academic; it is fundamental to grasping the coin’s significance as more than just a monetary unit. The Coinage Act of 1873, which demonetized silver and effectively placed the United States on a gold standard, generated significant controversy, particularly among silver mining interests and agrarian populations in the West. This act, known as the “Crime of ’73,” ignited a political battle over bimetallism, advocating for the use of both silver and gold as monetary standards. Consequently, the Bland-Allison Act of 1878 and the Sherman Silver Purchase Act of 1890 were enacted to mandate the government’s purchase of silver for coinage. The 1890 silver dollar is a direct artifact of these legislative actions, representing the government’s attempt to appease silver advocates and stabilize the economy.
The Sherman Silver Purchase Act, in particular, played a pivotal role in the coin’s creation. This act required the U.S. Treasury to purchase 4.5 million ounces of silver each month, which was then coined into silver dollars. While intended to boost the silver market, the Act inadvertently led to a drain on the nation’s gold reserves, as individuals redeemed the silver dollars for gold. The oversupply of silver and the resulting financial instability contributed to the Panic of 1893, a severe economic depression. The crisis ultimately led to the repeal of the Sherman Silver Purchase Act, effectively ending the mass production of silver dollars for a time. The 1890 silver dollar, therefore, serves as a tangible reminder of the complex economic policies and their unintended consequences during this tumultuous period.
In summary, the historical context surrounding the 1890 silver dollar underscores its significance as a product of specific economic and political circumstances. The coin’s existence is inextricably linked to the debates over bimetallism, the silver mining industry, and the government’s efforts to manage the nation’s monetary policy. Appreciating this context enhances our understanding of the coin’s value, not only as a collectible item but also as a symbol of a pivotal era in American history. Examining the mintage figures from different mints and their relation to the broader economic landscape further enriches our understanding of the coin’s place in history.
7. Numismatic Value
Numismatic value, in the context of an 1890 silver dollar, extends beyond the coin’s intrinsic silver content. It encompasses a complex assessment of historical significance, condition, rarity, and collector demand. These factors interplay to determine the coin’s worth within the numismatic market, often significantly exceeding its bullion value.
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Grade and Condition Premium
The assigned grade significantly impacts its numismatic value. Coins in higher grades, such as Mint State (MS) 65 or above, command substantial premiums due to their exceptional condition, original luster, and minimal imperfections. For instance, an 1890 silver dollar graded MS-65 might be worth hundreds or even thousands of dollars, while a circulated example in Good (G) 4 condition may only be worth a fraction of that amount, primarily based on its silver content. Professional grading by reputable services like PCGS and NGC is essential for establishing the coin’s grade and, consequently, its market value.
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Mint Mark Rarity
The mint mark, or lack thereof, contributes to its numismatic value. Coins minted at the New Orleans (“O”) or San Francisco (“S”) Mints, particularly those with low mintage figures or a high survival rate in excellent condition, are often more valuable than those from the Philadelphia Mint (no mint mark). The rarity of a particular mint mark can significantly increase its appeal to collectors and, as a result, its market price. For example, an 1890-S in uncirculated condition is typically more sought after and valued higher than an 1890 from Philadelphia in similar condition.
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Historical Significance and Collector Demand
Its historical context also influences its numismatic value. As a product of the late 19th-century debates over bimetallism and the Sherman Silver Purchase Act, the coin represents a tangible link to a pivotal period in American economic history. This historical significance enhances its appeal to collectors interested in American history, increasing demand and driving up prices. Furthermore, the overall popularity of Morgan silver dollars among collectors creates a consistent market for these coins, sustaining their numismatic value.
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Errors and Varieties
The presence of mint errors or design varieties also adds to its numismatic value. Examples with significant errors, such as double dies, off-center strikes, or planchet defects, can be highly prized by collectors specializing in error coins. The rarity of these errors and the specific characteristics of the variety can substantially increase its market price. Identifying and authenticating these errors requires specialized knowledge and expertise.
These facets collectively determine the coin’s numismatic value. While its intrinsic silver content provides a base value, the interplay of grade, mint mark rarity, historical significance, and the presence of errors or varieties defines its true worth in the collector’s market. This market is influenced by the historical time, demand, and economic health of the nation.
8. Production Location
The location where an 1890 silver dollar was minted is a critical factor in determining its value and historical context. The United States Mint operated several branches during this period, each contributing uniquely to the coin’s story and influencing its scarcity.
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Philadelphia Mint
The Philadelphia Mint, operating without a mint mark on the coin itself, typically produced the largest quantities of silver dollars. As the primary mint, its output often served to meet the bulk of the nation’s coinage needs. Although Philadelphia-minted 1890 silver dollars are generally more common than those from other locations, examples in exceptionally high grades can still command significant premiums due to their scarcity in pristine condition. The Philadelphia Mint’s production reflects the broader economic demands of the nation during this era.
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New Orleans Mint (“O” Mint Mark)
The New Orleans Mint, identified by the “O” mint mark, often produced silver dollars with varying strike quality and luster compared to other mints. Environmental conditions and operational practices at the New Orleans Mint contributed to these differences. Coins bearing the “O” mint mark may exhibit unique characteristics that distinguish them within the series. The New Orleans Mint had a specific role of minting for southern United States.
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San Francisco Mint (“S” Mint Mark)
The San Francisco Mint, denoted by the “S” mint mark, typically produced silver dollars known for their strong strikes and attractive luster. The San Francisco Mint’s location near the silver mines of the West influenced its operations and coin quality. The “S” mint mark often signals a higher level of quality in strike and luster, making these coins particularly desirable to collectors.
In conclusion, the production location, as indicated by the mint mark or its absence, offers valuable insights into the 1890 silver dollar’s origin, production volume, and potential quality. These factors collectively contribute to its overall value and place within the numismatic landscape. Understanding the distinct characteristics associated with each mint enhances the appreciation of these historical artifacts.
Frequently Asked Questions
This section addresses common inquiries regarding the characteristics, value, and historical context of the 1890 Morgan silver dollar.
Question 1: What is the composition of the 1890 Morgan silver dollar?
The coin comprises 90% silver and 10% copper. This composition contributes to its intrinsic value, which fluctuates with the prevailing market price of silver.
Question 2: Where can the mint mark be found on the 1890 Morgan silver dollar?
The mint mark, if present, is located on the reverse side of the coin, positioned below the wreath and above the letters “DOLLAR.” Different mint marks indicate the specific mint where the coin was produced.
Question 3: How does the condition affect the value of the 1890 Morgan silver dollar?
Condition significantly impacts the coin’s numismatic value. Higher-grade examples, exhibiting minimal wear and original luster, command considerably higher prices than heavily circulated specimens.
Question 4: What do the different mint marks signify on the 1890 Morgan silver dollar?
An “O” mint mark indicates production at the New Orleans Mint, an “S” denotes the San Francisco Mint, and the absence of a mint mark signifies that the coin was minted in Philadelphia. Each mint mark corresponds to different mintage figures and potential rarity.
Question 5: What is the historical significance of the 1890 Morgan silver dollar?
The coin’s production coincided with the debates over bimetallism and the Sherman Silver Purchase Act. It represents a tangible link to the economic and political landscape of late 19th-century America.
Question 6: How are 1890 Morgan silver dollars graded?
Professional grading services, such as PCGS and NGC, assess the coin’s condition using the Sheldon scale, ranging from 1 to 70. Factors such as surface preservation, strike quality, and luster are considered during the grading process.
In summary, assessing the value of an 1890 Morgan silver dollar necessitates consideration of its silver content, mint mark, condition, historical context, and numismatic grade. Professional evaluation is recommended for accurate valuation.
The next section will explore resources for further research and authentication.
Tips for Collectors of the 1890 Morgan Silver Dollar
This section presents essential considerations for individuals involved with collecting this particular coin, ensuring informed decisions regarding acquisition, preservation, and valuation.
Tip 1: Verify Authenticity. Prior to acquisition, confirm the coin’s authenticity. Counterfeit examples exist, often replicating the appearance of genuine coins. Independent verification from a reputable numismatist or grading service can mitigate the risk of acquiring a fraudulent specimen.
Tip 2: Research Mintage Figures. Familiarize yourself with the mintage figures for each mint (Philadelphia, New Orleans, San Francisco) of the year. Lower mintage numbers typically correlate with increased rarity and potential value, influencing acquisition strategies.
Tip 3: Understand Grading Standards. Comprehend the Sheldon grading scale and the criteria used by professional grading services. Accurate assessment of a coin’s condition is essential for determining its market value and preservation requirements.
Tip 4: Inspect for Surface Alterations. Carefully examine the coin’s surface for signs of cleaning or other alterations. Artificial cleaning diminishes a coin’s numismatic value, even if it enhances its immediate visual appeal. Original, uncleaned surfaces are generally preferred by collectors.
Tip 5: Consider Third-Party Grading. Submit coins of significant value or those intended for long-term investment to reputable third-party grading services (PCGS, NGC). Encapsulation and authentication by these services provide assurances of grade and authenticity to prospective buyers.
Tip 6: Store Coins Properly. Employ archival-quality holders, albums, or slabs for storage. Exposure to environmental elements such as humidity and pollutants can degrade a coin’s surface and diminish its value. Proper storage is critical for long-term preservation.
Tip 7: Monitor Market Trends. Track auction results and price guides to stay informed about current market values. Fluctuations in silver prices and collector demand can impact the value, informing future buying and selling decisions.
Adherence to these guidelines can enhance the collector’s ability to make informed decisions regarding the acquisition, preservation, and valuation of these historical artifacts. Knowledge and diligence are paramount.
The following section provides resources for further research and professional consultation.
1890 Morgan Silver Dollar
This exploration has detailed various facets of the 1890 Morgan silver dollar, ranging from its composition and production origins to its numismatic value and historical context. The significance of mint marks, the impact of condition, and the influence of the designer, George T. Morgan, have all been examined. This analysis underscores the coin’s multifaceted nature and its importance within the broader field of numismatics and American history.
The 1890 Morgan silver dollar, therefore, represents more than just a piece of currency. It serves as a tangible artifact of a pivotal era in American economic and political history. Further research and engagement with numismatic experts are encouraged to fully appreciate the complexities and enduring value of this iconic coin. Prudent collecting and preservation efforts are critical to ensuring its continued legacy for future generations.
