3 Proven Strategies To Identify 1879 Silver Dollar Value

Silver dollars from 1879 are treasures for collectors due to their historical significance and potential value. Whether you're an avid collector or a curious enthusiast, knowing how to evaluate the worth of these coins can significantly enhance your collection or inform your investment decisions. This article will guide you through three proven strategies to identify the value of an 1879 Silver Dollar, arming you with the knowledge needed to make informed decisions about these fascinating pieces of American history.

Strategy 1: Mint Marks and Rarity

Understanding Mint Marks

Every coin collector knows that mint marks are critical indicators of a coin's origin and can drastically affect its value. For 1879 Silver Dollars:

• No Mint Mark: Coins without a mint mark were produced at the Philadelphia Mint, which is the most common type for this year, making them less rare.
• CC Mint Mark: The Carson City Mint in Nevada marked its coins with "CC". These coins are highly sought after due to the limited production in 1879.
• O Mint Mark: New Orleans Mint coins carry the "O" mark, slightly more common than CC but still valuable.
• S Mint Mark: The San Francisco Mint used "S", and these coins are relatively common but still valued for their historical significance.

Assessing Rarity

To understand the rarity:

• Mintage Numbers: Coins with lower mintage figures are naturally rarer. For example, the Carson City coins have a much lower mintage compared to Philadelphia.
• Survival Estimates: Not all coins struck have survived to the present day. Knowing the estimated number of surviving coins can give insight into rarity.

Practical Example

Imagine you have an 1879 Silver Dollar with a CC mint mark. Here's how you might assess its value:

• Rarity: With only about 756,000 struck, CC coins are considerably rare.
• Value: In lower grades (AG3), a CC 1879 Silver Dollar could still fetch around $300, whereas in MS65, its value could jump to several thousand dollars.

<p class="pro-note">🔍 Pro Tip: Always check the coin's edge for a reeded or smooth edge, as this can also be a tell-tale sign of certain rare varieties.</p>

Strategy 2: Grading and Condition

Understanding Coin Grading

The grade or condition of a coin plays a pivotal role in its valuation:

• Sheldon Scale: Coins are graded from Poor (P-1) to Perfect Mint State (MS-70).
• Common Grades for Collectors: Focus on:
  • Good (G-4): Many coin details are worn flat.
  • Very Good (VG-8): Outlines of major design elements still visible.
  • Fine (F-12): All major design details are evident but not sharp.
  • Uncirculated (MS-60 to MS-70): Coins with mint luster, no wear, varying in quality.

Signs of Wear

Observe for:

• Wear on High Points: Features like the eagle's wing tips or Liberty's hair are often the first to show wear.
• Rim Integrity: Look for any nicks, bumps, or wear on the rims.
• Bag Marks and Damage: Handling or storage marks can detract from value.

Troubleshooting Grading

• Professional Grading Services: For coins with potential high value, consider third-party grading by services like PCGS or NGC.
• Authenticity: Beware of counterfeit coins, which might not have the subtle details that a professional can identify.

Practical Example

You have an 1879-S Silver Dollar:

• Condition: If it's in Fine condition (F-12), you could be looking at roughly $400. However, if it's in Mint State (MS-65), the value could be upwards of $2000.

<p class="pro-note">🔎 Pro Tip: Use a magnifying glass or loupe to examine the finer details, like the texture of Liberty's hair or the feathers on the eagle.</p>

Strategy 3: Market Demand and Trends

Monitoring Market Trends

The coin market is dynamic, with values fluctuating due to:

• Collector Interest: Specific coins might become trendy, driving up demand.
• Economic Conditions: General economic stability affects collectors' willingness to spend on numismatics.
• Anniversaries or Events: Historical anniversaries or events related to the coin's era can boost interest.

Staying Informed

• Numismatic Publications: Read books, magazines, and newsletters like Coin World or Numismatic News for current market trends.
• Online Forums and Social Media: Engage with collectors online to stay abreast of emerging trends or issues like authenticity concerns.
• Auction Results: Regularly review auction results from reputable coin dealers or auction houses.

Practical Example

If there's a sudden surge in interest in 1879 Morgan Silver Dollars:

• Price Impact: An MS-63 grade coin might sell for $450 when demand is low but could rise to $700 during a peak interest period.

<p class="pro-note">📊 Pro Tip: Keep track of auction records for similar coins over several years to observe trends and anticipate future value growth.</p>

Tips for Effective Collecting

• Diversify: Collect coins from different mints, grades, and conditions to reduce risk.
• Documentation: Keep detailed records of purchases, sales, and grading reports.
• Networking: Attend coin shows and auctions to expand your knowledge and network with experts.

<p class="pro-note">📝 Pro Tip: Always handle your coins with gloves to prevent skin oils from tarnishing the silver surface over time.</p>

In summary, determining the value of an 1879 Silver Dollar involves assessing mint marks and rarity, understanding the coin's grade, and keeping an eye on market trends. These strategies, when combined with expert knowledge and a touch of passion, can turn a simple coin into a valuable asset. If you're inspired to delve deeper into the world of coin collecting, explore related tutorials for more in-depth insights and continue your numismatic journey.

<p class="pro-note">🎯 Pro Tip: Remember that patience is key in coin collecting; the value of your coins can appreciate significantly over time, so view each piece as a long-term investment.</p>

<div class="faq-section"> <div class="faq-container"> <div class="faq-item"> <div class="faq-question"> <h3>How do I know if my 1879 Silver Dollar is real?</h3> <span class="faq-toggle">+</span> </div> <div class="faq-answer"> <p>Look for fine details in the design, weight (around 26.73 grams), and consider professional certification for valuable coins.</p> </div> </div> <div class="faq-item"> <div class="faq-question"> <h3>What's the difference between a CC and an S mint mark?</h3> <span class="faq-toggle">+</span> </div> <div class="faq-answer"> <p>The "CC" mark signifies the Carson City Mint, known for lower mintages and thus greater rarity, while "S" indicates San Francisco, which minted more coins making them less rare.</p> </div> </div> <div class="faq-item"> <div class="faq-question"> <h3>Can the value of a coin fluctuate dramatically?</h3> <span class="faq-toggle">+</span> </div> <div class="faq-answer"> <p>Yes, coin values can fluctuate due to changes in market demand, collector interest, historical anniversaries, or economic conditions. Always stay informed about current trends.</p> </div> </div> <div class="faq-item"> <div class="faq-question"> <h3>Should I clean my 1879 Silver Dollar?</h3> <span class="faq-toggle">+</span> </div> <div class="faq-answer"> <p>Avoid cleaning coins, as it can decrease their numismatic value. However, if it's for aesthetic preservation, use approved methods like soaking in mild soap and water or consult a professional.</p> </div> </div> <div class="faq-item"> <div class="faq-question"> <h3>What's the best way to store Silver Dollars?</h3> <span class="faq-toggle">+</span> </div> <div class="faq-answer"> <p>Use inert materials like plastic coin holders or capsules, avoid PVC, and store in a cool, dry, dark place to prevent tarnishing or damage.</p> </div> </div> </div> </div>