Silver dollars have been an essential part of American history since the country’s early days. These coins were first minted in 1794 and widely used throughout the 19th century. Apart from use in trade and commerce, they were also popular as gifts and tokens of affection.
The value of silver dollars fluctuated over time, but they remained a valuable commodity. In 1804, the value of one silver dollar was equivalent to about 24 cents in today’s money. By 1873, the value had risen to about $1.29.
Are you curious about the value of an 1884 silver dollar? It might be worth more than you think! Learn all about this coin’s history, current market trends, and rarity in this comprehensive article on the 1884 silver dollar value. Find out why it’s a popular collectible item and how its price has fluctuated over the years.
Table of Contents
- 1 Overview of the 1884 Silver Dollar
- 2 The 1884 Silver Dollar History
- 3 How Much Is an 1884 Silver Dollar Worth in 2023?
- 4 What Makes an 1884 Silver Dollar Valuable?
- 5 Factors Affecting the Value of Silver Dollars
- 6 Is an 1884 Silver Dollar Rare?
- 7 1884 Silver Dollar Error
- 8 Where Is the Mint Mark on an 1884 Silver Dollar
- 9 1884 Silver Dollar O
- 10 1884 Uncirculated Silver Dollar
- 11 1884 Silver Dollar Value Uncirculated
- 12 Grading System for 1884 Silver Dollars
- 13 Places to Buy and Sell 1884 Silver Dollars
- 14 1884 Silver Dollar Value FAQs
- 15 Conclusion
Key Takeaways
- The 1884-O Morgan Silver Dollar has an estimated value of $33 in average condition and can be worth $63 to $204 or more in uncirculated (MS+) mint condition.
- The coin composition is 90% silver, 10% copper, 38.1mm in diameter, and 26.73g in weight.
- The main factors determining a coin’s worth are errors and the mint mark.
Overview of the 1884 Silver Dollar
Year: 1884
Melt Value: $15.32
Price: $30.00 – $250.00+
Contents: Silver 90% (0.7735 oz.) & Copper 10%
Face Value: $1 (USD)
Minted at: Carson City, Philadelphia, San Francisco, and New Orleans
Mintage: 28,136,875
| Mintage Figures | Price | |
| 1884 | 14,070,000 | $35+ |
| 1884-CC | 1,136,000 | $200+ |
| 1884-O | 9,730,000 | $35+ |
| 1884-S | 3,200,000 | $40+ |
| 1884 Proof | 875 | $3,000+ |
| Total | 28,136,875 |
Related: 1864 2 Cent Coin Value
The 1884 Silver Dollar History
The Morgan silver dollar mintage began in 1878, five years after the Coinage Act of 1873 abolished silver coinage use and stopped the practice of “free silver “minting. A Morgan silver dollar represents the return of silver coinage in United States currency thanks to the Bland-Allison Act, which required the Treasury to procure between two and four million dollars worth of silver per month.
The government minted the Morgan silver dollar until 1904, when a silver shortage caused stoppage up to 1920. 1921 was the last year for the coin and the first year for its successor, the Peace Dollar. Both faces of the coin were created by engraving Master George T. Morgan.
A ring of stars surrounds the profile bust picture of Liberty in the center of the obverse. “E PLURIBUS UNUM” appears in the ring’s upper portion, and the year of mintage appears at the bottom.
On the reverse, an outstretched eagle holding a bundle of arrows and an olive branch is depicted while encircled by a wreath. “In God, We Trust” is the motto displayed over the eagle’s head.
The word “UNITED STATES OF AMERICA” runs along the upper rim, and beneath the wreath, the denomination “ONE DOLLAR” may be seen on the 1884 Morgan dollar.
Philadelphia reported the highest number of silver dollars struck in 1884 (no mint mark present), .with a total of 14,070,875 coins.
In second place was the New Orleans Mint (signified by an “O” beneath the wreath base on the reverse), which produced 9,730,000 coins. Due to its relatively short operating lifespan, New Orleans is a less common mint mark than others, so some consider the coins produced here more valuable.
The coin in line is denoted by an “S,” signifying San Francisco, where 3,200,000 silver dollars were minted. Rare examples of high uncirculated grades from this mint remain in existence.
The final minting of silver dollars took place in Carson City (designated by a “CC”). This mint mark is more sought-after by collectors than in New Orleans because of its scarcity.
This issue’s composition is typical for the series: 90% silver, 10% copper, 38.1mm in diameter, and 26.73g in weight.
How Much Is an 1884 Silver Dollar Worth in 2023?
The NGC Price Guide estimates that a circulating Morgan Dollar from 1884 is worth between $33 and $63 as of February 2023. However, 1884 Silver Dollars in flawless, uncirculated condition can get up to $34500 on the open market.
Related: 1896 Silver Dollar Value
What Makes an 1884 Silver Dollar Valuable?
The 1884 Silver Dollar is Valuable due to the coin’s condition, rarity, and mint mark. The mint mark indicates the rarity of the coin. For instance, the 1884 silver dollar from Carson City mint, which bears the signature “CC,” is highly valued by coin collectors globally. This is because the US treasury sanctioned the production of only a million pieces that year from the mint.
In some cases, the coins produced in San Francisco with the mark “S” have the highest value if you find them in uncirculated condition. For example, in November 2020, an auction sold an 1884 Silver dollar with MS68 grade at $750,000.
Factors Affecting the Value of Silver Dollars
If you are new to the world of numismatics and coin collecting, you could wonder why nearly identical pieces of 1884 silver dollar coins have different price ranges. Here are the factors that can impact your coin values:
- Grade/Condition
The condition of your coin is the weightiest factor that could impact its value. If your coin has been in circulation more, the more it will wear its design and weather in the process. Greater wear of coins equates to depreciation.
Coin grading is usually a complex process. Therefore, collectors view it as an art form and a skill. Collectors and investors enlist Third Party Grading Services (TPGs) and will be required to obtain grade assignments and evaluations of their coins from professionals before selling or buying coins. Higher-grade coins from the same mint, date, and variety will fetch higher prices. Coins are graded on a scale of 1 to 70.
- Rarity
The coin’s rarity affects the prices of the 1884 Silver Dollar to a great extent. The 1884 Silver dollar is readily available until the lower end of the mint state. However, getting the gem is complex and rare in higher grades or MS66.
- Demand Among Collectors
In circulated condition, tens of thousands of 1884 Silver Dollar pieces are available to cater to demand, and many more are available in uncirculated condition.
The location of a coin’s mint mark can significantly affect its value and rarity. For silver dollars, the most common mint marks are “S” for San Francisco, “CC” for Carson City Mint, “D” for Denver, and “O” for New Orleans Mint. Coins from Philadelphia bear no mint mark.
Coins from Philadelphia were proof or specimen coins and were valuable to coin collectors. Whether you have a specific date, semi-key date, or rare silver dollar depends heavily on the mint where the coin was produced.
Related: 1889 Morgan Silver Dollar Value – Mint Mark, No Mint, City
Is an 1884 Silver Dollar Rare?
Yes, it’s rare. The 1884 Silver dollar is readily available on the mint state’s lower end. However, it becomes more difficult to find the rare gem in MS66 or a better state.
1884 Silver Dollar Error
The procedure used to create Morgan Silver Dollars involved hammering hardened dies over metal blank sheets in such a way as to leave the intended pattern’s mirror image on the metal blank. As a result, notable errors that form on the coin include the following:
- 1884-P VAM-3
The engraver’s initials “m” is followed by a sizable dot on both sides of the coin. The date is also placed closer to the right on the front side. In January 2022, an MS-63 grade coin fetched $325.00 at auction.
- 1884-P VAM-4
Like VAM-3, a dot follows the engraver’s initials on both sides of the coin. In contrast to the dot on VAM-3, it is considerably smaller this time. Additionally, the dot’s position has changed. In May 2019, it was sold at auction for $449.00.
- 1884-O VAM-6
The “O” in the mint mark looks double-punched. The original mint mark’s left side is curved, and the re-punched “O” appears to have shifted to the left and bottom. In May 2018, an MS-66 grade VAM-6 coins brought $3,250 at auction. Another $650.00 illustration of the doubling error.
Related: Coin Appraisals – How to Make The Right Choice
Where Is the Mint Mark on an 1884 Silver Dollar
Not all silver dollars from 1884 bear a mint mark. If your coin contains a mint mark, it will be on the back, directly above the letters “DOLLAR” and “O.” Coins that lack a mint mark were produced in Philadelphia. The letters “CC,” “O,” and “S” stand for Carson City, New Orleans, and San Francisco, respectively.
1884 Silver Dollar O
The 1884 Silver Dollar O is made of silver and has a diameter of 38.1 mm. The coin has a plain edge and a reeded edge. The coin’s obverse features the head of Liberty facing left, with the date “1884” below her neck. The word “LIBERTY” is above her head, while the motto “IN GOD WE TRUST” is below her neck. The coin’s reverse features an eagle perched on a branch, with the words “UNITED STATES OF AMERICA” and “ONE DOLLAR” around the coin’s edge.
According to USA Coin Book, the 1884-O Morgan Silver Dollar has an estimated value of $33 in average condition and can be worth $60 to $204 or more in uncirculated (MS+) mint condition.
Related: 1882 Silver Dollar Value
1884 Uncirculated Silver Dollar
The 1884 Silver Dollar was designed by George T. Morgan and contained 0.7734 oz of silver. The obverse side features a bald eagle clutching a bundle of arrows and an olive branch. They are surrounded by “United States of America,” “In God We Trust,” and “One Dollar.”
The coins minted in Philadelphia Mint contain no mintmark. The diameter is 38.1mm, the Bullion weighs 0.7734 troy, reeded edges, and a thickness of 3.1mm.
According to the NGC Price Guide release on February 2023, coin collectors can find the coins in pristine, uncirculated condition on the open market for as much as 34,500.
1884 Silver Dollar Value Uncirculated
The 1884 silver dollar value uncirculated exhibit a distinctive luster or sheen and show no trace or wear. This makes them the most sought-after by coin collectors due to their value. Coin in pristine, uncirculated condition can trade for as much as $34,500 during auctioning or in open markets.
Related: A Deep Dive Into the 2 Dollar Bill – From Pop Culture To Presidential Portraits
Grading System for 1884 Silver Dollars
The grading system for 1884 silver dollars differs from what you might be used to. Here, the grade is based on the coin’s condition, with circulated coins worth less than those in pristine condition. Uncirculated coins are worth the most, followed by circulated but in mint condition (About Uncirculated), then Extremely Fine, Very Fine, Fine, all the way to Good. Coins that have been cleaned or damaged will be worth less than those that haven’t.
| Grade/Condition | Value in $ (USD) |
| Good G(4) | 25 |
| Very Good V.G. (8) | 31 |
| Fine F(12) | 37 |
| Very Fine V.F. (20) | 43 |
| Extremely Fine E.F. (40) | 46 |
| About Uncirculated A.U. (50) | 48 |
| Uncirculated MS(60) | 58 |
| Brilliant Uncirculated MS(65) | 403 |
| Proof PR(63) | 3,218 |
Places to Buy and Sell 1884 Silver Dollars
You can buy and sell 1884 silver dollars in a few different places. One option is to use an online marketplace like eBay or Amazon. You can also find local coin dealers interested in buying or selling your coins. Heritage Auctions is another option for selling your coins. They are one of the world’s largest auction houses and dealers in various collectibles, including coins.
Related: 2021 Quarter Errors – An Illustrated Guide
1884 Silver Dollar Value FAQs
What Is the Value of an 1884 Silver Dollar?
1884 Morgan Silver coins can range in value from $30.00 to $250.00 on average. However, in rare cases, they can reach six figures quickly.
What Is the Most Valuable 1884 Silver Morgan Dollar?
An 1884-S Morgan Silver Dollar with a grade of MS-60+ can fetch a lot of money every time. An 1884-S Morgan Silver Dollar with a grade of MS-68 was auctioned for $900,000.
Conclusion
1884 Silver Dollars are highly sought-after collectibles due to their historical value and rarity. While the coins vary in condition, they can be worth greatly depending on how well-preserved they are. Those looking to add 1884 Silver Dollars to their collection should research pricing before buying or selling these coins, as prices can fluctuate significantly based on quality and availability. With proper care and maintenance, these coins can continue to be appreciated over time for future collectors.
