As one of the most popular and widely collected classic U.S. coins, the 1889 Morgan silver dollar is a key issue that generates tremendous demand from numismatists. Struck at four different mints and containing nearly an ounce of silver, 1889 Morgans span the spectrum of value from $30 circulated pieces to high-grade rarities commanding six figures.
In this comprehensive guide, we‘ll cover everything a collector needs to know about 1889 Morgan dollars, including:
- The history and context of the series
- Mintages, characteristics, and values for all four issues
- Notable varieties, errors, and other special features
- Strategies for collecting, investing in, and grading these coins
- How and where to buy and sell 1889 Morgans
Whether you‘re a seasoned collector or just starting out, this in-depth guide will equip you with the knowledge and perspective needed to navigate the world of 1889 Morgan dollars with confidence. Let‘s dive in!
Historical Context
The Morgan dollar series traces its roots back to the Bland-Allison Act of 1878, which required the U.S. Treasury to purchase large quantities of silver and strike it into dollar coins. This act was passed in response to pressure from mining interests and silver advocates who wanted to monetize the large silver deposits discovered in the West.
The Morgan dollar gets its name from designer George T. Morgan, who was hired by the U.S. Mint in 1876 and tasked with creating a new silver dollar. His design features a left-facing portrait of Lady Liberty on the obverse and a perched eagle on the reverse, surrounded by a wreath. Morgan‘s classical designs were met with praise and the series ran from 1878 to 1904, with a final batch struck again in 1921.
1889 Mintages and Values
In 1889, the 11th year of the series, Morgan dollars were struck at four mints: Philadelphia (no mintmark), New Orleans (O), San Francisco (S), and Carson City (CC). A total of nearly 35 million coins were produced in 1889, but the mintages varied widely between facilities:
| Mint | Mintage | Average Circulated | MS-63 | MS-65 | Auction Record |
|---|---|---|---|---|---|
| (P) | 21,726,000 | $35 | $125 | $250 | $15,000 |
| O | 11,875,000 | $35 | $140 | $3,000 | $75,000 |
| S | 700,000 | $75 | $450 | $2,500 | $38,812 |
| CC | 350,000 | $500 | $25,000 | $150,000 | $531,875 |
As the mintages show, the 1889-CC is the undisputed key date of the series with only 350,000 coins struck. It‘s one of the most valuable and sought-after Morgan dollars in any grade, with even well-worn examples commanding four-figure prices. An 1889-CC graded MS-68 by PCGS holds the all-time record price for the series at $531,875.
The 1889-S is also relatively scarce with a mintage under 1 million coins. It‘s highly prized in mint state grades. Meanwhile the 1889 (P) and 1889-O issues are much more common, but still very popular with type collectors seeking an example of this classic design.
Strike Types and Varieties
Beyond the four basic issues, 1889 Morgan dollars are collected by strike type and die variety. Some of the most desirable examples are those with prooflike (PL) and deep mirror prooflike (DMPL) finishes. These coins were struck from highly polished dies and have fields that are noticeably reflective, like a mirror.
DMPL examples are the most coveted and valuable, with prices that can be double or triple that of a non-PL coin in the same grade. For example, an 1889-CC graded MS-65 DMPL by NGC brought $264,000 in a 2016 auction. Meanwhile, an 1889-S graded MS-65 PL by PCGS sold for over $20,000 in 2010.
In terms of notable die varieties, the most popularly collected are the VAMs (named for Leroy Van Allen and A. George Mallis). Some of the standouts for 1889 include:
- 1889-O VAM-4 "Oval O" – The mintmark is shaped like an oval instead of a circle.
- 1889-S VAM-22 "Doubled Profile" – Doubling visible on Liberty‘s nose and mouth.
- 1889-CC VAM-3 "Doubled Die Obverse" – Doubling on LIBERTY and stars.
Other varieties that command a premium include the 1889/1889 repunched date and the 1889/8 overdate. Collectors also prize examples with dramatic clashed dies and die cracks or breaks.
Errors and Oddities
Like any coin series, 1889 Morgan dollars are known with an array of minting mistakes and errors that can significantly enhance their value. While errors are scarce in the Morgan series compared to later issues, some major types include:
- Off-center strikes (10-15% or more)
- Clips and planchet irregularities
- Double and multiple strikes
- Broadstrikes and partial collars
- Rotated dies and misaligned dies
- Mated dies and flip-over double strikes
Because of their rarity and visual appeal, error Morgans are highly prized by collectors. A dramatic off-center 1889-O dollar sold for over $10,000 in a 2019 auction, while an 1889-S struck 15% off-center brought $4,700 in 2020. Even a minor clip can add hundreds of dollars to the value of a common date.
Collecting Strategies and Advice
For most Morgan dollar enthusiasts, a basic four-coin set of 1889 issues from each mint is a logical starting point. The Philadelphia and New Orleans examples are readily available in circulated grades, while the San Francisco and especially the Carson City will prove more challenging to locate.
Collectors with a bigger budget may want to pursue an 1889 set in mint state, perhaps in MS-63 or MS-64. At that level, the CC becomes a major rarity, as does the S to a lesser extent. Prooflike and DMPL examples are an ambitious goal, as are coins in ultra gem grades like MS-66 and 67. A complete 1889 VAM set is theoretically possible but would be a massive undertaking.
When assembling any Morgan dollar set, it‘s generally advisable to buy certified coins in the best condition you can comfortably afford. Focus on eye appeal and originality in addition to technical grade. Be patient and cherrypick for quality – there‘s no rush to finish a set and the hunt is part of the fun.
For registry set collectors, both PCGS and NGC offer competitive 1889 Morgan sets to build. These include everything from basic circulation strike sets to DMPL and VAM collections. Participating in a registry is a great way to document your coins and measure your progress against other collectors.
Investing and Market Trends
As with any rare coin, the best 1889 Morgans for investment purposes are high-grade examples of the scarcer issues. Over the long term, MS-65 and finer examples of the 1889-CC have shown a strong and consistent track record of price appreciation.
The 1889-S is another issue that has performed well, along with the ultra grade (MS-67/68) tiers of otherwise common dates like the 1889 (P) and O. Prooflike and DMPL examples are also good targets, as are rare varieties in high grade.
In recent years, the market for 1889 Morgans has been robust, with record prices achieved for key dates and exceptional pieces. The emergence of registry set collecting has put additional pressure on the top end of the market. Sight-seen coins with CAC approval seem to be in particularly high demand.
As always, buy the best you can afford from reputable sources. Stick with PCGS and NGC-certified coins. Ancient and Chinese coins are an attractive alternative investment. Be patient and don‘t rush into a purchase, as many collectors have been stung by counterfeit Morgans over the years.
Grading and Authentication
As mentioned, third-party certification is a must for valuable Morgan dollars like the 1889-CC. PCGS and NGC are the most trusted grading services and their holders offer assurance of authenticity and grade.
When grading mint state coins, pay close attention to strike, luster, and surface preservation. The high points to check for wear include Liberty‘s cheek, hair, and the eagle‘s breast feathers. The fields should be clean and mark-free on gem examples.
Some key things to watch out for are cleaned and artificially toned coins, as well as those with hidden problems like marks or repairs. Questionable pieces should always be authenticated by professionals. Familiarize yourself with known counterfeits and altered coins.
Buying and Selling
For collectors looking to buy 1889 Morgan dollars, the best sources are typically specialized dealers and auction houses. Many retailers maintain a diverse inventory of certified Morgans in all grades and price ranges. Coin shows and conventions are great opportunities to view prospective purchases in person.
The major auction companies like Heritage, Stack‘s Bowers, and Legend Rare Coin Auctions are also excellent places to find 1889 Morgans, especially scarce varieties and high-grade specimens. These firms hold several signature sales each year, often with impressive selections of Morgan dollars.
For more common issues, online marketplaces like eBay and Collectors Corner can yield good deals on circulated 1889 Morgans. Just be sure to stick with certified coins or those from top-rated sellers. Buying raw coins online is risky, especially for key dates.
When it comes time to sell, it‘s advisable to go through the same reputable channels. While you may get lucky with a private sale, you‘ll generally get the best price by consigning your coins to an auction house or selling them to a specialist dealer. Consider getting your coins CAC-verified to maximize their value.
Clubs and Resources
Some of the best educational resources and networking opportunities can be found through the many dedicated Morgan dollar collector clubs. Here are a few of the most active organizations:
- Society of Silver Dollar Collectors (SSDC)
- National Silver Dollar Roundtable (NSDR)
- Carson City Collectors Club (C4)
- San Francisco Historical Society‘s Granite Lady Collectors Club
- New Orleans Silver Dollar Collectors
Other valuable sources of information include the PCGS CoinFacts and NGC Coin Explorer websites, as well as reference books like the "Guide Book of Morgan Silver Dollars" and Leroy Van Allen‘s "Comprehensive Catalog and Encyclopedia of Morgan & Peace Dollars."
Don‘t forget the many Morgan dollar forums and Facebook groups, where you can connect with fellow collectors, get advice, and buy, sell, and trade coins. Some of the most popular online communities include the PCGS and NGC registry set forums, CoinTalk, and the Silver Dollar Forum.
Key Takeaways
-
The 1889 Morgan dollar is a significant key date issue with the potential for six-figure prices.
-
The Carson City issue is the most valuable by far, followed distantly by the San Francisco coin.
-
Strike types like prooflike and deep mirror prooflike are highly coveted, as are rare VAM varieties.
-
Mint errors are scarce but command substantial premiums when they do appear.
-
High-grade examples of the CC and S issues are the best candidates for investment.
-
Collecting an 1889 Morgan set is a challenge but highly rewarding pursuit.
-
Buy certified coins from reputable sources and focus on quality and eye appeal.
In the final analysis, the 1889 Morgan dollar is a classic issue that epitomizes the enduring appeal of this iconic series. With its combination of rarity, historical significance, and silver content, it‘s a coin that will always be in demand among collectors. Whether you‘re building a complete set or just looking for a single high-grade example, 1889 Morgans offer something for everyone. Happy hunting!
