Expert: Ronald Fern - 6/20/2010

Question
Hi! I was given an 1889 Morgan Silver Dollar and since I have never collected coins before, I have tried to find as much info about this coin on the internet. The one thing I can not find, is that my coin does not say "One Dollar" on the back. It just has the cc mark. Is this a misstamp? I can't figure out the value since I have not found another one missing that part. Thank you so much for your help! :)

Answer
Hi Cindi:

Thanks for your question.

It is really hard to say what you have without a photo or more of a description, but I'll try. Condition is very important in establishing the value of your piece. If you want to give me more information on the size, weight or diameter and thickness of your piece and perhaps add a photo, I'll revise my answer, if required.

From your limited description of the piece, and the fact that you say your item DOES NOT say "ONE DOLLAR", you may have a one troy ounce .999 Fine Silver Round. Many of these are struck with designs very similar to our U.S. coinage. They are a popular way to hold silver bullion, and these "generic" pieces usually sell for about 50 cents to a dollar over the spot price of silver. They are struck by private mints, so they do not qualify as coins. Many of the "generic" designs are produced in the millions. Any toning should not affect the value. The "CC" you mention is likely not a mint mark, but the initials of the company that made the coin or round.

Scarce to rare pieces may bring up to double the melt value, but most trade right around it, plus or minus a few dollars. At the current rate of silver, around $19.00, your round is likely worth about $21 to $22 to an interested collector.

You may also want to check out these links on silver bars and rounds:
http://www.rivercitycoins.com/silverrounds/celebrity/celebrityrounds.html
http://bullion.nwtmint.com/silver.php

You may want to check eBay listings under US coins in the Dollar category to see if your coin is listed and what it is 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 coin to a dealer, remember they will offer about 50% to 60% of the retail value.  Here's a link to find one in your area: http://www.pngdealers.com/dealersearch.php
                      
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Thank You and Good Luck in your collecting.