Expert: Ronald Fern - 5/25/2010

Question
i have found a 1888 silver with E. PLURIRUS. UNUM ON ONE SIDE AND AMERICAN EAGLE ON THE OTHER SIDE, I WANT TO KNOW IF ITS WORTH ANYTHING

Answer
Hi Tammy:

Thank you for the opportunity to answer your question.

It is difficult to answer without photos or seeing the coin, but I'll try. If you want to ask a follow-up question by providing photos of the coin, I'll modify the answer, if required. Of course, you can try to grade the dollar yourself by comparing it to the grading site I provide.

The value depends date, mint mark and condition. The date you state is considered one of the more common Morgan dollars. The mint mark is found on the reverse of the coin directly below the eagles tail. In 1888, coins were minted with no mint mark (Philadelphia), an "O" mint mark (New Orleans), and a "S" mint mark (San Francisco). Your coin contains a little over three fourths an ounce of pure silver. The dollar was struck in .900 fine silver. With silver at little over $18.00 a troy ounce, your dollar has a melt value of about $14.00.

See Link for melt value: http://www.coinflation.com/silver_coin_values.html

To grade your coins: http://coinauctionshelp.com/How_To_Grade_Morgan_Dollars.html
                
For date and specs. see: http://coinauctionshelp.com/page44.html
                 
Values and mintages: http://coinauctionshelp.com/Morgan_Dollar_Mintages_Price_Guide.html

According to a recent issue of "Coin Values" Magazine, your coin with no mint mark or an "O" mint mark, would have a retail value of between $18 in Good condition to $50 in Uncirculated condition.  A coin with a "S" mint mark is worth more, as fewer coins were struck. If your coin has a "S" mint mark, it would have a retail value of between $75 in Good condition to $325 in Uncirculated condition. There are also several VAM varieties of the 1888-O dollar that are worth a premium. They are identified as VAM 1-B, "Scarface", and VAM 4, "Hot Lips". If your dollar has an "O" mint mark, let me know and I'll give you more information on the VAM varieties.

You may want to check ebay listings under US coins in the Morgan dollar category to see what these coins are going for. If you live close to a coin shop, they should offer you an opinion as to the condition, and value at no charge. Always try and get at least two opinions and try and deal with PNG dealers if possible. If you should decide to sell your coins to a dealer, remember they will offer about 50% to 60% of the retail value, but usually a little more with your "S" mint mark silver dollar. Here's a link to find one in your area: http://www.pngdealers.com/dealersearch.php

For dollar history and facts, see: http://en.wikipedia.org/wiki/Morgan_dollar
                             
Hope this helps. Again, if you want to send a photos of your coin, I'll review and update my original reply, as required.

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Thank You and Good Luck in your collecting.