The valuation of an 1882 Morgan dollar struck at the Philadelphia Mint, denoted by the absence of a mint mark, hinges primarily on its condition and rarity. Coins in circulated grades, exhibiting wear from use, generally command prices reflecting their silver content plus a premium for collectibility. Uncirculated examples, retaining their original mint luster, achieve significantly higher values.
The historical significance of these dollars lies in their role as standard coinage during a period of expanding American commerce and the ongoing debate surrounding bimetallism. The Philadelphia Mint, as the primary facility, produced a large quantity of these coins; however, superior condition specimens are sought after by numismatists. The inherent worth as precious metal and the tangible connection to American history contribute to its appeal.