Chances are, if you have a collection of silver dollars or you are looking to get into the collectibles market for silver dollars, that you have come across many confusing and contradictory things in your research. One website may tell you that Carson City minted coins are among the most valuable, while another will say exactly the opposite.
Tougher still, it is nearly impossible to get an accurate approximation of how much a specific coin is worth without going into a coin dealer and having it appraised. Then, the problem becomes trusting that dealer, who may be undercutting the true value of the coin in the hope that you will sell it to him. So, how is the amateur collector of silver dollars to know precisely what his coins are worth? Here are a few places you can start your search.
How to Determine the Condition of Your Coin
There is a consensus among appraisers of silver dollars as to what constitutes a condition scale for coins. The scale ranges from 1 to 70, with 1 being the lowest, worst condition and 70 being completely unworn and premium. The highest possible score for a worn coin, one that has been put into circulation, is 59, and it can drop as low as 1. Generally, any coin that was put into circulation must be immaculate to be scored in the 50s on the scale, and these coins are rare, given the amount of time that has transpired since their minting.
How to Determine the Mint That Produced the Coin
Where silver dollars were minted is nearly as important as the coins’ condition in determining value. This is because different mints circulated a wildly varying number of coins from year to year. For example, the Carson City Mint may have only minted 750,000 silver dollars in 1871, but in 1872, they minted nearly three times that number. This goes a long way toward increasing the value of the 1871 Carson City dollar, and makes the 1872 worth much less. The mintmark appears on the back of the coin, beneath the tail feathers of the eagle, between the “D” and the “O” in the word “DOLLAR.”
CC – Carson City
D – Denver
O – New Orleans
S – San Francisco
No Mark – Philadelphia
For coins that bear no mintmark at all, these were minted in the Philadelphia Mint.
An Overview of the Rare Years
The rarest years for the production and circulation of silver dollars are:
1795
1796
1801
1854
1871 – Carson City
1872 – San Francisco
1881 – Carson City
1886 – San Francisco
1893 – San Francisco
1921
1928
1934 – San Francisco
This is just an example of some of the rarest years, and is by no means a comprehensive list. For a good place to start on your search for the rare years of your silver dollars, find one of the many reputable online sites that cater to collectors and traders. These will give you the best information possible and help you start that collection.
