The 1896-O Morgan Silver Dollar is a popular coin among collectors, valued for its history and rarity in high grades. Although nearly 5 million coins were struck at the New Orleans Mint, most entered circulation and experienced heavy wear.
History of 1896 O Morgan Silver Dollar
Designed by George T. Morgan, the Morgan Silver Dollar was minted from 1878 to 1921. Many 1896-O dollars were later melted under the Pittman Act, reducing the number of surviving coins. Additional examples were discovered in U.S. Treasury vaults during the 1950s and 1960s, but most showed signs of handling. As a result, well-preserved coins, especially those graded MS-66, are exceptionally rare and highly prized by collectors.
As a result, there are now few excellent situations.
Some of these coins came to light again in Treasury vaults in the 1950s and 60s. However, due to their heavy wear, high-grade coins are hard to find. The coin discussed here is one of the finest known, graded MS-66 and tied for the best graded at PCGS.
Specifications
- Category: Morgan Dollars (1878-1921)
- Mint: New Orleans
- Obverse Designer: George T. Morgan
- Reverse Designer: George T. Morgan
- Composition: Silver
- Fineness: 0.900
- Weight: 26.73 grams
- ASW (Actual Silver Weight): 0.7734 ounces
- Melt Value: $23.45 (as of 6/20/2024)
- Diameter: 38.1 mm
- Edge: Reeded
Basic Design
Obverse
The 1896 O Morgan Silver Dollar’s obverse has an image of Liberty facing left. She wears flowers in her hair and a cap with a little crown over it. Liberty is surrounded by the words “E Pluribus Unum” and “1896.” The border is circled by thirteen stars, which represent the original thirteen colonies.
Reverse
The reverse side shows a beautiful eagle with its wings spread wide, clutching arrows in its talons, with an olive branch. Over the head of the eagle, the phrase “In God We Trust.” The phrases “One Dollar” and “United States of America” are inscribed along the border, and a wreath surrounds the eagle. The New Orleans Mint can be identified by the “O” mint mark under the wreath.
Rarity and Condition
Despite the high mintage, most 1896 O Morgan Silver Dollars are found in lower grades due to extensive circulation. Coins in VG (Very Good) to EF (Extremely Fine) condition are common and affordable. AU (About Uncirculated) coins are also accessible and frequently found in collections.
However, a Mint State (UNC) coin is difficult to find. The majority of Mint State coins are graded MS-61 or MS-62, usually with important abrasions. Higher grades like MS-65 are rare and have a high cost.
Value of 1896 O Morgan Silver Dollar
The value of an 1896 O Morgan Silver Dollar depends on its condition. Well-worn coin copies can be purchased for almost the melt value, roughly $23.45. In AU condition, these coins are more reasonable but always sought after. Mint State coins begin at four-figure prices and can get five figures for high-grade examples. An MS-65 coin is listed with an important premium, reflecting its rarity and desirability.
Also Read – 1895 O Morgan Silver Dollar: A Guide for Coin Enthusiasts
Conclusion
Both beginner and experienced collectors find the 1896 O Morgan Silver Dollar to be pleasing. Having well-preserved coins and its history make it a mysterious work of numismatic history. The 1896 O Morgan Dollar is a coin that is great to pursue, regardless of how you’re trying to add a circulating coin to your collection or observe a high-grade gem.