Morgan Dollar 1896: Design, Mintage, and Collectibility

While some coins gain popularity over time, others quickly become favored choices among numismatists, and Morgan 1896 dollar coins definitely belong to the latter group. Inherently iconic, the Morgan dollar has always captivated enthusiasts of all sorts, thanks to its symbolic meaning in terms of economic significance and artistic aspirations hidden in the precious metal of the coin.

1896 Morgan silver dollar PCGS 65 and over has a special place in the hearts and collections of numismatists. But what does it look like? Is there any free coin identification? How popular can it be today, and which conditions are the most valuable? 

What Does It Look Like? Design of the 1896 Morgan Dollar

The American coinage of the XIX century was full of masterpieces represented with the use of metal plates on which the portraits or profiles were struck and polished. The design of the 1896 Morgan dollar is a masterful example of this phenomenon, too. Generally speaking, the coin, created by George T. Morgan, depicts Lady Liberty on the obverse side and an eagle on its reverse. 

To be more precise, the obverse features a left-facing profile of Lady Liberty (originally inspired by a schoolteacher, Anna Willess Williams) with a Phrygian cap and the inscription “Liberty” on it. The reverse depicts an eagle with outstretched wings, an olive branch in its talons, and the inscription “In God We Trust” above. 

Interestingly, most researchers note how realistic and well-detailed the texture of Lady Liberty’s hair is that it can be surely considered a real work of art. 

Mintage Figures and Legislative Background

Philadelphia Mint (No mintmark): 9,976,000 coins

New Orleans Mint (“O”): 4,900,000 coins

San Francisco Mint (“S”): 5,000,000 coins

As shown above, there were struck great volumes of 1896 coins, though each instance should have contained 90% silver. Nevertheless, the amount of coins preserved in good or relatively good condition is not great at all. But what are the main procedures or legal actions responsible for the Morgan Dollar series' existence? 

As such, the United States moved toward the gold standard when the Coinage Act of 1873, which its critics labeled the "Crime of 1873", essentially put an end to unrestricted silver production (which silver miners were not really fond of). As a response to silver miners and the growing need for inflationary policies, congress established the Bland-Allison Act of 1878, which presupposed that the U.S. Treasury had to buy $2–$4 million worth of silver every month and turn it into silver dollars. 

The Morgan Dollar was created in 1878 as a result of these actions and legal requirements.

Condition and Rarity (Overview and Tips)

An 1896 Morgan Dollar's rarity and overall condition are the key factors in determining how much collectors are willing to pay for it. Despite being a rather common issue in the series, the 1896 Morgan dollar worth​ is significantly influenced by strike quality, grade, and mintmark, too. Using the conventional numismatic scale, Morgan Dollars, including the 1896 issue, are rated from Poor (P-1) to Mint State (MS-70). 

Circulated Grades (Good to Extremely Fine): 1896 Morgan Dollars in circulated condition often display wear on the highest points, such as the feathers of the eagle and Liberty's hair. Good (G-4), Very Good (VG-8), and Extremely Fine (EF-40) are common grades for coins that are in circulation. 1896 Morgan silver dollar price​ of such a condition usually ranges from $45 to $90.

Uncirculated Grades (Mint State): Mint State or uncirculated coins (rated MS-60 to MS-70) might include light surface abrasions or bag marks, but uncirculated or "Mint State" coins do not exhibit any wear at all. Hence, the worth of uncirculated 1896 Morgan Dollars can go up to $400 or more for higher-grade examples (MS-65) and approximately $90 for lower Mint State grades (MS-60). 

Prooflike (PL) and Deep Mirror Prooflike (DMPL): Certain uncirculated Morgan Dollars, referred to as Prooflike (PL) or even Deep Mirror Prooflike (DMPL), always feature a mirror-like finish. These coins are rarer and fetch higher prices from $150 to $1,500, just like those with mistakes, e.g., 1982 quarter error coins.

By the way, the rarest 1896 Morgan coin may cost $3,500 or more! This should be MS-65 and struck in San Francisco.

Should you wish to learn even more about the 1896 Morgan coin, we recommend that you install the Coin ID Scanner app and explore its vast coin database to discover even more facts and figures regarding this numismatic creation. Users may utilize the software to rapidly identify and assess their money with the help of the camera on their phone. 

The app is an all-inclusive resource for both new and experienced collectors, with complete details on rarity, value, and historical context not to mention. The Coin ID Scanner software does facilitate coin identification and grading (though without certificates), giving information about a coin's condition according to the requirements of the industry. Standards are great, but Coin ID Scanner is greater.

Sources: 

1. https://www.ngccoin.in/variety-plus/united-states/dollars/morgan-dollars-1878-1921/?page=1 

2. https://www.pcgs.com/coinfacts/coin/1896-1/7240