The 1895-O Morgan Silver Dollar is one of the most challenging date-and-mintmark combinations in the Morgan Dollar series. It is a condition rarity, meaning examples are very hard to find near the top of the grading scale, and even low mint-state coins are easily worth thousands of dollars. All but the numerous circulated 1895-O Morgans are worth hundreds of dollars.
Recently, the Numismatic Guaranty Company (NGC) received a purported example of an 1895-O Morgan dollar. Overall, it seemed to match what was expected from Morgan, except for one small detail: the date. Even from a distance, the area around the 5 had an odd appearance.
History of 1895 O Morgan Silver Dollar
The 1895-O Morgan Silver Dollar is legendary among coin collectors. A genuine example in the same condition as a manipulated one could sell for $500 or more. In contrast, Morgan dollars from other years in the 1890s are common, and examples in similar conditions can be found for under $50. The financial incentive to create a phony 5 in the date is clear.
In the 1890s, Morgan dollars were struck by the New Orleans Mint yearly. For the 1895-O, most examples were retained in federal vaults and melted later. However, more than 100,000 pieces probably entered commercial channels, accounting for the typically encountered worn survivors in today’s market. Mint State coins are elusive and often display poor striking quality and unattractive surfaces.
Specification
- Year: 1895
- Mint Mark: O
- Type: Morgan Silver Dollar
- Price: $350.00 – $165,000.00+
- Face Value: 1.00 USD
- Produced: 450,000
- Edge: Reeded
- Silver Content: 90%
- Silver Weight: 0.7735 oz.
- Melt Value: $24.47
Basic Design
Obverse
The obverse of the Morgan Dollar features a profile view of Lady Liberty looking to the left. She is wearing a cap and a small crown with flowers tucked in her hair. The words “Liberty” and “E Pluribus Unum” are inscribed, with the date “1895” at the center bottom. Thirteen stars surround the coin, representing the original 13 colonies.
Reverse
The reverse side of the Morgan Dollar represents a hairless eagle with wings spread, arrows, and an olive branch in its talons, representing peace and war. The inscriptions “United States of America,” “In God We Trust,” and “One Dollar” are present on it.
Rarity and Condition
In the world of numismatics, the coiners’ work at the New Orleans Mint in 1895 was of poor quality. Workers had little incentive to create quality coinage, knowing most 1895-O Morgan Silver Dollars were unwanted and would likely go into bulk storage. Consequently, the coins were produced with spaced dies to minimize die wear and breakage, resulting in poor-quality strikes with dull luster.
Despite this, the data can be found in various grades, from well-worn to choice AU. An attractive AU example can be affordable, and higher-grade coins (MS-60 to 62) can be found with some frequency. However, above MS-63, the date becomes much harder to find and more expensive. A superior-quality 1895-O Morgan dollar will have detailed hair above Liberty’s ear and strong breast feathers on the reverse.
Value of 1895 O Morgan Silver Dollar
The value of an 1895-O Morgan Silver Dollar is based on its rarity and condition. For example, low mint-state grades are easily worth thousands of dollars, while heavily circulated coins still bring hundreds, and the unique mint-state coins, like an MS-66, are very rare and command premium expenses.
Also Read – 1893 O Morgan Silver Dollar: A Numismatic Rarity
Conclusion
The 1895-O Morgan Silver Dollar is highly valued by collectors due to its rarity and historical significance. Knowing all the details and variations of this coin will help both novice and expert enthusiasts acknowledge its value and brilliance. Examine it carefully if you ever chance with an 1895-O Morgan; real ones are extremely rare.