The 1879 Morgan Silver Dollar stands as a testament to American numismatic history, captivating collectors and investors with its blend of rarity, historical significance, and potential value. This comprehensive guide delves deep into the intricacies of this coveted coin, offering expert insights and valuable information for both seasoned collectors and newcomers alike.
Historical Context: The Birth of a Numismatic Icon
The Morgan Silver Dollar, named after its designer George T. Morgan, was first minted in 1878. The 1879 issue, being only the second year of production, holds a special place in the hearts of collectors and historians.
- Minted during the "Free Silver" era
- Reflects the economic and political climate of post-Civil War America
- Represents a pivotal moment in U.S. monetary policy
Rarity Analysis: Is the 1879 Silver Dollar Truly Rare?
While not the rarest of Morgan dollars, the 1879 issue presents unique opportunities for collectors:
- Overall Rarity: Moderate, with exceptions for certain mint marks and conditions
- Condition Rarity: High-grade specimens can be exceedingly rare
- Mintage Variations: Significant differences across minting facilities
Rarity by Mint Mark
-
1879 (Philadelphia – No Mint Mark)
- Mintage: 14,807,100
- Rarity: Common in lower grades, scarce in high mint state
-
1879-CC (Carson City)
- Mintage: 756,000
- Rarity: Key date, highly sought after in all grades
-
1879-O (New Orleans)
- Mintage: 2,887,000
- Rarity: Moderate, scarce in high grades
-
1879-S (San Francisco)
- Mintage: 9,110,000
- Rarity: Common, except for the rare "Reverse of 1878" variety
Comprehensive Value Guide
The value of an 1879 Morgan Silver Dollar can vary dramatically based on several key factors:
Primary Value Determinants
- Mint Mark
- Condition (Grade)
- Varieties and Errors
- Market Demand
Detailed Value Breakdown
| Mint Mark | G-4 | VF-20 | XF-40 | MS-60 | MS-65 | MS-67 |
|---|---|---|---|---|---|---|
| No Mark | $48 | $58 | $71 | $100 | $681 | $4,700 |
| CC | $522 | $835 | $3,525 | $6,908 | $27,145 | $155,000 |
| O | $48 | $60 | $78 | $155 | $2,907 | $38,000 |
| S | $53 | $61 | $71 | $120 | $291 | $3,500 |
Note: Values are approximate and subject to market fluctuations. Proof coins and rare varieties may command significant premiums.
Rare Errors and Varieties: The Holy Grails of 1879 Morgans
Some of the most valuable 1879 Morgan dollars are error coins and rare varieties:
-
1879-CC "Capped Die"
- Caused by a die cap error
- Value Range: $160 (low grade) to $120,000 (DMPL MS-65+)
-
1879-S "Reverse of 1878"
- Features the earlier reverse design
- Value Range: $60 (low grade) to $50,400 (MS-66)
-
Doubled Die Errors
- Can occur on both obverse and reverse
- Premiums vary based on prominence and location
-
Off-Center Strikes
- Highly sought after by error collectors
- Value increases with degree of off-center strike
Expert Tips for Identification and Authentication
To properly identify and authenticate your 1879 Morgan Silver Dollar:
- Date Examination: Verify the 1879 date on the obverse
- Mint Mark Location: Check for mint mark on reverse, below the wreath
- Weight Verification: Should weigh 26.73 grams (± 0.097 grams)
- Diameter Measurement: Confirm 38.1 mm diameter
- Edge Inspection: Look for reeded edge with 180-190 reeds
- Magnetic Test: Silver is non-magnetic; beware of counterfeits
- Use of Magnification: Examine fine details and potential errors
Preservation Techniques for Maximum Value Retention
Proper care is crucial for maintaining the value of your 1879 Morgan Silver Dollar:
- Store in a cool, dry environment (Ideal: 50-70°F, 40-50% relative humidity)
- Use non-PVC, archival-quality holders or albums
- Handle coins by the edge, avoiding contact with faces
- Never clean your coins – leave this to professionals if necessary
- Consider professional grading and encapsulation for valuable specimens
Investment Potential and Market Trends
The 1879 Morgan Silver Dollar offers solid investment potential:
- Historical Significance: Represents a pivotal era in American economic history
- Silver Content: Contains 0.77344 troy ounces of silver
- Collector Demand: Steady interest ensures ongoing market liquidity
- Rarity in High Grades: MS-65 and above coins show strong appreciation
Recent Auction Results
| Date | Variety | Grade | Sold Price |
|---|---|---|---|
| Jan 2023 | 1879-CC | MS-65 DMPL | $96,000 |
| Mar 2023 | 1879-S Rev of 78 | MS-64 | $18,000 |
| Jun 2023 | 1879 No Mint Mark | PR-66 DCAM | $22,800 |
Where to Buy and Sell 1879 Morgan Silver Dollars
- Reputable coin dealers (e.g., American Numismatic Association members)
- Major auction houses (Heritage Auctions, Stack's Bowers)
- Online marketplaces (eBay, APMEX) – exercise caution and verify authenticity
- Coin shows and conventions (ANA World's Fair of Money, FUN Show)
The Numismatist's Perspective: Why the 1879 Morgan Matters
As a seasoned US coin collecting expert, I can attest to the enduring allure of the 1879 Morgan Silver Dollar. Its significance goes beyond mere monetary value:
- Represents a transitional period in American coinage design
- Offers a tangible connection to late 19th-century American history
- Presents diverse collecting challenges across mint marks and varieties
- Serves as an excellent entry point for new collectors into the world of classic US coins
Conclusion: The Timeless Appeal of the 1879 Morgan Silver Dollar
The 1879 Morgan Silver Dollar is more than just a coin; it's a piece of American history you can hold in your hand. While not all 1879 dollars are rare, certain varieties and high-grade specimens can be extremely valuable. The key to maximizing the value of your 1879 Morgan Silver Dollar lies in proper identification, preservation, and an understanding of the nuanced market dynamics.
Whether you're a seasoned collector expanding your Morgan dollar set or a curious newcomer drawn to the allure of classic American coinage, the 1879 Morgan offers a fascinating glimpse into numismatics. It combines the potential for both enjoyment and investment, making it a cornerstone of many prestigious collections.
Remember, the world of coin collecting is ever-evolving. Stay informed, engage with the collecting community, and above all, enjoy the journey of discovery that each 1879 Morgan Silver Dollar represents. Who knows? The next great numismatic treasure might be waiting in your very own collection.
