The 1897 Morgan Dollar is a significant collectible coin from U.S. history, produced at the Philadelphia Mint with over 2.8 million coins struck that year. Despite its high mintage, many of these coins were melted down due to the Pittman Act of 1918, which adds to their scarcity today. This guide provides insights into the 1897 Morgan Dollar, its value, and notable specimens to watch for in auctions or private collections.
Overview of the 1897 Morgan Dollar
| Specification | Details |
|---|---|
| Country | United States |
| Year of Issue | 1897 |
| Mint Location | Philadelphia (no mintmark) |
| Mintage | 2,822,000 |
| Alloy Composition | 90% Silver, 10% Copper |
| Weight | 26.73 grams |
| Diameter | 38.10 mm |
| Edge | Reeded |
| Designers | George T. Morgan (obverse and reverse) |
Why the 1897 Morgan Dollar is Popular Among Collectors
The 1897 Morgan Dollar holds a unique position in American numismatic history, appealing to both beginner and seasoned coin collectors. Its high silver content and classic design make it a must-have, while its rarity in higher grades adds to its value and intrigue.
Market Data and Noteworthy Specimens
The value of the 1897 Morgan Dollar varies greatly depending on its grade. Here are some notable specimens and their values in recent years:
| Grade | Auction Details | Sale Price |
|---|---|---|
| PCGS MS67+ | Heritage Auctions, Lot 3662, September 2020 | $10,500 |
| PCGS MS67+ CAC | Heritage Auctions, Lot 4771, April 2017 | $23,500 |
| PCGS MS67 | Heritage Auctions, Lot 2241, September 2024 – The Puccini Collection | $6,600 |
| PCGS MS66DMPL | The Carson Silver Collection, Heritage Auctions, Lot 1180, December 2009 | $18,400 |
| NGC MS66DPL | Heritage Auctions, Lot 3217, December 2019 | $10,200 |
Rare Mint Condition Coins
The finest known examples, graded PCGS MS68 or above, are especially valuable and rare. The population of MS67 and MS68 coins has increased over the years, yet they still remain highly sought after.
Notable Collections Featuring the 1897 Morgan Dollar
Several famous collections have featured high-grade 1897 Morgan Dollars, making these coins even more attractive to collectors. Here are a few key collections:
- The Puccini Collection – Known for coins with vivid rainbow toning.
- The Citizen Bold Collection – Featured brilliant uncirculated pieces in MS67 grade.
- The Larry H. Miller Collection – Held an MS67 CAC graded coin, adding significant value to this coin’s history.
Why Collectors Value the 1897 Morgan Dollar
The 1897 Morgan Dollar is not only a piece of American history but also a coin that reflects the nation’s legacy in silver currency. While millions were minted, surviving coins in top condition (like MS67 or MS68) are rare, making them highly valuable. Its classic design by George T. Morgan is another reason collectors love this coin, as it represents a timeless piece of artistry and skill from the U.S. Mint.
Conclusion
The 1897 Morgan Dollar is a fascinating collectible that appeals to both new and advanced collectors. Its history, rarity in higher grades, and beautifully designed silver composition make it a standout in U.S. coinage. As values continue to appreciate, now is a great time to consider adding an 1897 Morgan Dollar to your collection or to learn more about its rich background.
FAQ’s
What makes the 1897 Morgan Dollar valuable?
The 1897 Morgan Dollar is valuable due to its rarity in high grades, classic design, and historical significance. Many were melted in 1918, increasing its scarcity today.
Where was the 1897 Morgan Dollar minted?
This coin was minted at the Philadelphia Mint, which is why it has no mintmark.
How much silver is in the 1897 Morgan Dollar?
The coin is made of 90% silver and 10% copper, with a total weight of 26.73 grams.