Did you recently collect an 1896 silver dollar and are wondering what it’s worth? Are you curious about the history of this coin? Or are you even considering buying one but need to learn more first?
Well, that’s what we’re going to talk about today. In this post, we are going to talk about the 1896 silver dollar value, its history, and its key features.
1896 Silver Dollar Details
- Category: Morgan Dollars
- Total Mintage: 19,876,000
- Minting place: San Francisco, Philadelphia, and New Orleans
- Diameter: 38.1 mm
- Weight: 26.73 g
- Fineness: 0.9
- ASW: 0.7734 oz
- Edge: Reeded
- Composition: 90% Silver, 10% Copper
- Melt Value: $16.47 (24th February 2023)
- Reverse Designer: George T. Morgan
- Obverse Designer: George T. Morgan
The Obverse Design of the 1896 Silver Dollar
The main feature of this design is an engraving of Lady Liberty’s head and neck. This was common at the time this coin came out because images of real people had never been used before.
However, it was still a change of style because the previous coin had a picture of Lady Liberty standing. This earned the dollar the nickname “Standing Liberty” dollar.
Another thing that made the 1896 dollar obverse design different is that the version of Lady Liberty used in the picture was a model. Her name was Anna Willess Williams and she was referred to George T. Morgan by his friend, Thomas Eakins.
Ultimately, George decided to use her for the coin because of her American features. She eventually accepted to do the gig only if George kept her identity a secret. Unfortunately, a Philadelphia newspaper eventually revealed Anna’s identity, making her famous.
The Reverse Design of the 1896 Silver Dollar
The backside of the 1896 silver dollar has a bald eagle image. This US symbol is seen standing on arrows and a single circle of leaves. On the top edge of the coin are the words “United States of America” and on the lower one are the words “One Dollar”.
The wings of the eagle land between the words “United” and “States” and “Of” and “America”. Also, the words “In God We Trust” are inscribed above the eagle’s head, right below the words “States Of”.
Also Read: Top 21 Most Valuable 2000 P Sacagawea Dollar Coin Worth Money
1896 Silver Dollar Value Chart
| 1896 Silver Dollar Value Chart | ||||||||
| Mintmark | XF45 | MS63 | MS65 | MS67 | PR50 | PR63 | PR65 | PR67 |
| 1896 No Mint Mark Silver Dollar Value (P) | $50 | $125
Deep Mirror Prooflike: $280
Prooflike: $150 |
$275
Deep Mirror Prooflike: $1,050
Prooflike: $525 |
$1,750
Deep Mirror Prooflike: $25, 000
Prooflike: $1,500 |
$100
|
$3,750
Cameo: $4,400
Deep Cameo: $5,500
|
$7,000
Cameo: $7,250
Deep Cameo: $10,500 |
$17,500
Cameo: $26,500
Deep Cameo: $38,500 |
| 1896 “S” Silver Dollar Value | $625 | $4,850
Prooflike: $15,000 |
$11,750
Prooflike: $30,000 |
$150,000
Prooflike: $225,000 |
N/A | N/A | N/A | N/A |
| 1896 “O” Silver Dollar Value | $100 | $5,750 | $200,000 | N/A | N/A | N/A | N/A | N/A |
1896 Silver Dollar Value and Varieties Guide
1896 No Mint Mark Silver Dollar Value (P)
- Type: Morgan Dollar
- Mint: None
- Minting place: Philadelphia
- Year: 1896
- Edge: Reeded
- Mintage: 9,976,000
- Designer: George T. Morgan
- Face value: $1
- Current value: $50 to $35,000
- %Composition: 90% silver, 10% copper
- Mass: 26.73 g
- Diameter: 38.1 mm
The largest quantity of 1896 silver dollars was minted in Philadelphia; almost 10 million coins. This huge number ensured that you can still get a no-mint 1896 dollar coin on the market today.
If you’re looking for an extremely fine coin with a grading of XF45, you can easily buy one at $50 from independent graders. If you’re looking for a mint state coin though, you’ll have to spend between $125 to $1,750.
Proof-like samples will cost you even more; they can be 10 times more expensive. For instance, an MS67 will cost you $1,750 while a deep-mirror proof-like version can cost you $25,00. An MS68 one can even cost you $35,000.
Interestingly, proof no-mint coins are also available. You can get a PR50 at $100 and a PR67 at $17,500. Deep cameos can cost you as high as $38,500.
1896 “S” Silver Dollar Value
- Type: Morgan Dollar
- Mint: S
- Minting Place: San Francisco
- Year: 1896
- Mintage: 5,000,000
- Designer: George T. Morgan
- Face value: $1
- Current value: $625 to $225,000
- %Composition: 90% silver, 10% copper
- Edge: Reeded
- Mass: 26.73 g
- Diameter: 38.1 mm
The second largest mintage of the 1896 silver dollar was in San Francisco; 5 million pieces. These coins usually have an S mint mark on top of the letters “D” and “O” in the word “Dollar”.
When it comes to circulated coins, these are the most valuable right now. An extremely fine one graded XF45 costs more than $600. Mint state coins cost even more; usually $3000 to $11,700.
One MS69 even went for a whopping $720,000 in a 2020 auction. Interestingly, a lot of mint-state 1896 S dollars are in circulation right now. There are estimated to be 3000 to 5000 MS60 to MS62 coins in circulation.
On the other hand, there are few proof-like 1896 S silver dollars, and they’re expensive. An MS67 one can cost you $225,000.
1896 “O” Silver Dollar Value
- Type: Morgan Dollar
- Mint: O
- Minting place: New Orleans
- Year: 1896
- Mintage: 4,900,000
- Designer: George T. Morgan
- Face value: $1
- Current Value: $100 to $200,000
- %Composition: 90% silver, 10% copper
- Mass: 26.73 g
- Diameter: 38.1 mm
- Edge: Reeded
New Orleans produced the lowest number of coins; 4.9 million. You can’t even find many of them in high grades, and if you do they’re usually expensive. While an extremely fine one (XF45) costs around $100, mint-state ones usually go for $3,000 to $200,000.
Keep in mind that proof-like versions of this dollar are rare; deep mirror proof-like ones are even rarer. To avoid being scammed, always check for O marks on these coins. This is usually on top of the “D” and “O” in the word “Dollar”.
Also Read: Top 19 Most Valuable Silver Eagles Worth Money
1896 Silver Dollar History
The 1896 silver dollar is one of a series of coins called Morgan dollars. The images on these coins were all designed by a man called George T. Morgan. They were first produced in 1878 and continued to be minted every year until 1904.
After a long break, they were again minted for one year in 1921 and another year in 2021 as a collector’s item. If there’s one thing you need to know about the 1896 silver dollar though, it’s that it was minted in higher quantities than the coins immediately before it.
While the 1896 silver dollar had a total mintage of almost 20 million pieces, the 1895 0ne had a mintage of less than 1 million. The 1894 one had over 3 million pieces while the 1893 one had less than 1.5 million.
These low mintage quantities were an effort to deal with the inflation of the time; a direct result of previous laws that flooded the market with coins.
Fortunately, the economy had begun to recover by 1896, making the mint more willing to produce dollars in high quantities again.
Also Read: Top 19 Most Valuable Morgan Dollars Worth Money
1896 Silver Dollar Grading
Coins like the 1896 silver dollar are usually graded by independent agencies like PCGS and NGC. These graders use a scale running from 1 to 70, with the latter being the best condition a coin can be in.
Beyond the number scale, coins also get a word to describe their state. For instance, a grade one coin is known as poor. Combining the number and word descriptions give you a grade of Poor 1. This can be abbreviated PO1.
Other words that can be used to explain the state of a coin include good, extremely fine, and mint state. Common grades are mint state 60 (MS60) and extremely fine (XF45). To further understand coin grading check out this PCGS YouTube video.
List of 1896 Silver Dollar Errors
1. 1896 Silver Dollar Curved Clip
A curved clip is a minting error that occurs when the planchet strip is not moved farther along enough after the blanks are punched out. This causes overlap between the punched-out holes and the blanking dies.
Ultimately, this error leaves you with a coin that has curved-out areas. An MS60 1896 silver dollar coin with this error can sell for around $80 at auctions.
2. 1896 Silver Dollar Strikethrough
A strikethrough error happens when something foreign gets into the coin press before the striking is done. This results in a coin with an indentation where the object is pressed on the coin.
Sometimes the object even remains stuck on the coin. In such cases, the error is referred to as “strike through and retained”. While these coins are highly valuable, some collectors end up removing the foreign body and cleaning them, significantly devaluing them.
This is what happened to an 1896 EF45 silver dollar that was graded by ANACS recently. It was labeled as “struck through debris cleaned” and sold at a little over $130.
3. 1896 Silver Dollar Partial Collar
A partial collar error is a result of striking a coin using a blank that doesn’t sit correctly in the collar die. The impact of this is that some of the metal pushes its way out of the collar and creates a steeped edge.
Such coins can fetch quite a lot at auctions; one recently sold for over $300.
4. 1896 Silver Dollar Lamination
A lamination error results in a part of the metal coin flaking off or even cracking. It usually happens because the metal alloy being used has been contaminated. As such, the flaking/cracking can happen before/after the coin is struck.
An 1896 MS64 no-mint silver dollar with such an error on its obverse side was recently sold at an auction for around $70. The flaking on the coin went across Lady Liberty’s cheek.
1896 Silver Dollar FAQ
What makes an 1896 silver dollar rare?
Generally, 1896 silver dollars aren’t rare, especially those minted in Philadelphia. The ones minted in San Francisco (S) and New Orleans (O) are rarer than these because they were minted in lower quantities.
Also, proof-like versions of the 1896 silver dollar are rarer than the other ones. This is especially noticeable when it comes to “S” and “O” mint coins.
Is an 1896 silver dollar pure silver?
An 1896 silver dollar is made of 90% silver and 10% copper. This was a common composition choice at the time it was minted. All Morgan dollars have this composition; most coins minted in 1935 and before have it too.
Where is the mint of an 1896 silver dollar?
The mint mark of an 1896 silver dollar is found on its reverse side. You will see it on the bottom of the coin on top of the letters “D” and “O” in the word “DOLLAR”. If the mark is an “O” the coin was minted in New Orleans. If it’s an “S” it was minted in San Francisco.
What year silver dollars are the most valuable?
The most valuable silver dollars to date are those minted in 1794. One of them is even the most expensive coin to be sold to date. 1794 Flowing Hair Silver Dollar was sold in 2013 for a little over $10 million.
This coin gets its name from the fact that it features an image of Lady Liberty with flowing hair on its obverse side. However, its value is high because it was the first type of coin to ever be minted in the United States, and it’s in short supply.
In that year, the Mint started operations by producing only 1,758 silver dollars. Experts estimate that there are only 120 to 130 of these coins left.