Expert: Ronald Fern - 11/30/2011

Question
I have a 1896 Morgan coin with a dent in it.  I was wondering if there was any way to fix that without damaging the coin farther.  Also I assume the dent makes it monetarily worthless.

Answer
Hi Josh:

Thanks for the question.

The coin is not worth "fixing". Only scarce to rare coins qualify, due to the expert "fix" price. Your piece is likely a common date 1896P (no mint mark on reverse under eagles tail ) Morgan Dollar, which sells for $35 to $45 in uncirculated grades.

Your coin contains .77 troy ounces of pure silver and a melt value of about $25 with silver at over $32. Dealers would likely pay about $20 for your damaged coin.

Coin "doctoring" is not an acceptable procedure in the collecting community, and you need to note any "fix" when you sell the coin so as not to defraud the buyer of the piece. Collectors want the best condition possible, so this procedure is usually limited to the "rare" coins where very few normal or high grades exist. Expert "fixes" start in the $50 range and go up, depending on the rarity of the coin.

Check eBay listing under US coins in the dollar category to see if coins like yours are listed and what they are going for.

To grade your dollar, see: http://coinauctionshelp.com/How_To_Grade_Morgan_Dollars.html

For prices, see: http://coinauctionshelp.com/Morgan_Dollar_Mintages_Price_Guide.html

For more information on the coin series, see: http://en.wikipedia.org/wiki/Morgan_dollar

If you live close to a local shop, they should offer an opinion as to it's value and if it is authentic at no charge. Remember, should you choose to sell your coin, get at least two estimates from professional coin dealers (PNG). I've listed a link for you to find them in your area. Link: http://www.pngdealers.com/dealersearch.php

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