The 1881 Morgan silver dollar was issued in four different mints: Philadelphia, Carson City, San Francisco, and Denver. Each mint’s history of producing Morgan silver dollars is unique. Not all dates were minted at each mint, and Philadelphia Morgan dollars are sometimes referred to without a P. This is because the Philadelphia mint never produced proofs of their coins. Hence, Philadelphia Morgan silver dollars are generally referred to as the “P”-less Morgan.
While the 1881 Morgan silver dollar was the first Morgan silver dollar, there are some errors that have been reported on the coin. The year 1881 is one such example of an error on this coin. While the original minting of the Morgan silver dollar began in 1878, the coin did not end until 1904. It was again produced in 1921, and is considered a rare, collectible coin. The Morgan dollar was the first silver coin made in the United States since the 1873 Coinage Act ended the practice of “free silver,” where people who held silver bullion could have it struck into coins for a small fee.
A Morgan silver dollar begins in either Uncirculated or Good condition. The two grades are determined by judging the wear on a coin. The more details remain, the more valuable an 1881 Morgan silver dollar is. However, some collectors are willing to pay a slightly lower price for a coin with some flaws in its design. A speck of gold on a coin may be a more valuable example.
While the 1881 Morgan silver dollar is a common coin, it is important to note that it contains several flaws. Some have raised areas or the mintmark is not round. A fake 1881-S Morgan silver dollar is identified by raised areas on the periphery and incorrect mintmark shapes. A genuine 1881-S Morgan dollar, for example, would be worth around $110 in MS 64. One NGC grader spotted a fake 1881-S coin in a submission a while back.
A Morgan silver dollar checklist will include mint marks and variations. A checklist begins with 1878 and goes through all subsequent years. There is a checklist of error and variation for every year of the series. The list of mistakes is extensive and never ends. With a little bit of research, you can find a coin you like. And by learning about Morgan silver dollars, you’ll soon be on your way to building a unique collection.
An 1881 Morgan silver dollar graded MS 67 sold in August 2011 for more than $46,000. This type of coin is highly desirable to collectors who want to add value to their collections. Proof coins are also worth a lot more than average-grade coins. So, it’s worth investing in a decent 1881 Morgan proof coin in MS-65 grade. But if you’re thinking of buying one of these silver dollars, be prepared to spend much more than you initially planned.
Many of these early Morgan silver dollars have been characterized by flaws. In particular, the reverse design is weakly struck at the highest points, which means that it isn’t as attractive as it could be. Because of this, a coin like this is classified as a one-year design type. But the overall quality of these coins is a good sign. However, there are many more errors that need to be addressed.
The first Morgan Dollar to be issued in 1881 was flawed and not of high grade. Its value increased when the Morgan Dollar was sold in the Treasury Hoard in 1964. The mint in Philadelphia eventually stopped producing them, but this didn’t stop the influx of Morgans. This resulted in a shortage of top-quality Morgan Dollars. It was also important to note that the mint in New Orleans melted millions of Morgans without considering their scarcity.