Historical Background
The 1889 dollar coin, also known as the Morgan dollar, holds a prominent place in American numismatics. Authorized by the Bland-Allison Act of 1878, the Morgan dollar was minted from 1878 to 1904 and again in 1921. Its distinctive design, featuring the bust of Liberty on the obverse and the American eagle in flight on the reverse, was created by George T. Morgan.
Characteristics and Specifications
The 1889 dollar coin has the following characteristics:
- Composition: 90% silver, 10% copper
- Weight: 26.73 grams
- Diameter: 38.1 millimeters
- Thickness: 2.8 millimeters
- Obverse: Liberty facing left, inscribed with “LIBERTY” and the year “1889”
- Reverse: American eagle in flight, surrounded by the inscription “UNITED STATES OF AMERICA,” “ONE DOLLAR,” and “E PLURIBUS UNUM”
Rarity and Mintage
The 1889 dollar coin was minted in four different mints: Philadelphia, San Francisco, Carson City, and New Orleans. The Philadelphia Mint produced the majority of coins, with a mintage of 14,346,125. The San Francisco Mint produced 9,609,000 coins, while the Carson City Mint produced 2,387,000 coins. The New Orleans Mint minted 1,487,000 coins.
Grading and Value
The value of an 1889 dollar coin depends primarily on its condition and rarity. As with all coins, the higher the grade, the higher the value. The following table lists the different grades and their corresponding values:
| Grade | Value |
|---|---|
| Poor | $20 |
| Fair | $30 |
| Good | $50 |
| Very Good | $80 |
| Fine | $120 |
| Very Fine | $200 |
| Extremely Fine | $400 |
| Uncirculated | $600 |
| Mint State | $2,025 |
Special Varieties
In addition to the standard 1889 dollar coin, there are several special varieties that can command higher prices. These varieties include:
- Proof coins: Proof coins are struck with special dies and are intended for collectors. They have a mirror-like finish and are typically worth more than regular coins.
- Trade dollars: Trade dollars were minted specifically for use in international trade. They have a slightly different design than regular dollars and are often worth more.
- Commemorative coins: Commemorative coins are minted to commemorate special events or anniversaries. They are typically worth more than regular coins.
Investing in 1889 Dollar Coins
Investing in 1889 dollar coins can be a profitable endeavor, but it is important to do your research before you buy. Factors to consider include the condition of the coin, the rarity of the variety, and the overall market demand.
If you are new to coin investing, it is advisable to consult with a reputable coin dealer who can help you choose the right coins for your investment portfolio.
Conclusion
The 1889 dollar coin is a valuable and historic coin that holds a special place in American numismatics. Its timeless design and historical significance make it a desirable collectible for both investors and collectors alike. Whether you are looking to add to your collection or simply want to learn more about this fascinating coin, the 1889 dollar coin is sure to impress.
FAQs
What is the most valuable 1889 dollar coin?
The most valuable 1889 dollar coin is the 1889-CC Prooflike dollar, which sold for $1.84 million in 2013.
How many 1889 dollar coins were minted?
A total of 27,829,125 1889 dollar coins were minted.
What is the difference between a Morgan dollar and a Peace dollar?
Morgan dollars were minted from 1878 to 1904 and again in 1921, while Peace dollars were minted from 1921 to 1935. Morgan dollars have a different design than Peace dollars, with Liberty facing left on the obverse and the American eagle in flight on the reverse. Peace dollars have Liberty facing right on the obverse and the American eagle at rest on the reverse.
Tables
Table 1: Mintage Figures for 1889 Dollar Coins
| Mint | Mintage |
|---|---|
| Philadelphia | 14,346,125 |
| San Francisco | 9,609,000 |
| Carson City | 2,387,000 |
| New Orleans | 1,487,000 |
| Total | 27,829,125 |
Table 2: Values of 1889 Dollar Coins by Grade
| Grade | Value |
|---|---|
| Poor | $20 |
| Fair | $30 |
| Good | $50 |
| Very Good | $80 |
| Fine | $120 |
| Very Fine | $200 |
| Extremely Fine | $400 |
| Uncirculated | $600 |
| Mint State | $2,025 |
Table 3: Special Varieties of 1889 Dollar Coins
| Variety | Description |
|---|---|
| Proof coins | Struck with special dies and intended for collectors |
| Trade dollars | Minted specifically for use in international trade |
| Commemorative coins | Minted to commemorate special events or anniversaries |
Table 4: Tips for Investing in 1889 Dollar Coins
| Tip | Description |
|---|---|
| Do your research | Learn about the different grades, rarities, and values of 1889 dollar coins |
| Consult with a coin dealer | A reputable coin dealer can help you choose the right coins for your investment portfolio |
| Buy coins in the best condition you can afford | The higher the condition of the coin, the higher its value |
| Store your coins properly | Coins should be stored in a cool, dry place to prevent damage |
| Be patient | Investing in coins takes time and patience. Don’t expect to get rich quick |
