The 1895-O Morgan Dollar is one of the most sought-after coins by collectors due to its rarity and historical significance.
This silver dollar was minted in New Orleans in 1895 and is considered one of the rarest coins in the Morgan Dollar series.
With only 450,000 coins produced, the 1895-O Morgan Dollar is highly sought after by collectors.
Its rarity and historical significance make it a valuable addition to any collection.
In this article, we will explore the rarity and value of the 1895-O Morgan Dollar in more detail.
We will look closer at its history and significance and the factors that can affect its value.
So, whether you’re a seasoned collector or just starting, read on to discover everything you need about the 1895-O Morgan Dollar.
Key Takeaways:
1. It is considered one of the rarest coins in the Morgan Dollar Series.
2. The scarcity of the 1895-O Morgan Dollar can be attributed to the economic depression and careless production, resulting in few high-quality specimens available today.
3. Despite its rarity, this coin’s market value and demand can fluctuate depending on conditions and collector interest.
The Rarity of the 1895-O Morgan Dollar
The 1895-O Morgan Dollar is a rare coin that collectors highly sought after.
Minted in New Orleans, Louisiana, the 1895-O Morgan Dollar has a mintage of only 450,000.
The rarity of this coin is due to several factors.
First, the New Orleans Mint only produced Morgan Dollars for a few years, from 1879 to 1904, making any coin from this mint highly collectible.
Second, this coin has a low mintage, meaning fewer coins are available for collectors.
An 1895-O Morgan Dollar in MS67 condition sold for $575,000 at a Heritage Auctions event in 2005.
While not all coins will sell for this much, it is clear that the rarity of the 1895-O Morgan Dollar can make it a valuable addition to any collection.
Overall, the rarity is due to its low mintage and the limited number of surviving specimens.
This rarity makes it a highly collectible and valuable coin for collectors interested in the Morgan Dollar series.
Factors Influencing Its Rarity
- Mintage Volume
- The 1895-O Morgan Dollar was minted in New Orleans in 1895 with a total mintage of 450,000 coins.
- This may seem large, but it is one of the lowest mintages for any Morgan Dollar.
- The low mintage was because silver mining in the United States declined then, and there was less demand for silver dollars.
- Surviving Population
- Despite the low mintage, the surviving population of the 1895-O Morgan Dollar is even lower.
- Only about 150,000 or lower of the original mintage are estimated to exist today.
- This is due to several factors, including hoarding silver dollars during the early 1900s, melting silver coins during World War II, and general wear and tear over time.
- Condition of Coins
- Another factor that influences the rarity of the 1895-O Morgan Dollar is the condition of the coins.
- Many surviving coins are in poor condition due to heavy circulation and mishandling over the years.
- The few coins that have survived in high grades, such as MS65 or MS66, are extremely rare and valuable. A single MS67 example sold for over $575,000 in 2005 and again in 2021 for $528,000!
In conclusion, the rarity of the 1895-O Morgan Dollar is influenced by several factors, including its low mintage volume, the small surviving population, and the condition of the survived coins.
These factors have made the 1895-O Morgan Dollar one of the most sought-after coins among collectors and investors.
Comparison With Other Morgan Dollars
When it comes to the rarity of the 1895-O Morgan Dollar, it is important to compare it with other Morgan Dollars.
While it is not the rarest of all Morgan Dollars, it is still considered a relatively scarce coin compared to the rest of the series.
The mintage of the 1895-O Morgan Dollar was 450,000, higher than other Morgan Dollars such as the 1893-S with a mintage of only 100,000 and 1894 with only a mintage of 110,000.
However, it is still lower than the average mintage of Morgan Dollars, around 2 million coins per year.
In terms of grading, the 1895-O Morgan Dollar is also considered a difficult coin to find in high grades.
The finest known examples of this coin are graded MS66 by NGC and MS67 by PCGS, both extremely rare.
Regarding the coin’s design, the 1895-O Morgan Dollar is similar to other Morgan Dollars.
It features the iconic portrait of Lady Liberty on the obverse and the eagle with outstretched wings on the reverse.
Overall, while the 1895-O Morgan Dollar is not the rarest of all Morgan Dollars, it is still considered a relatively scarce coin compared to the rest of the series.
Its mintage and grading make it a desirable coin for collectors and investors.
Market Value and Demand
Regarding the 1895-O Morgan Dollar, market value and demand are both high.
As mentioned earlier, this coin is considered rare due to its low mintage and the fact that most coins were melted down.
As a result, collectors are willing to pay a premium for this coin.
The value of an 1895-O Morgan Dollar can vary greatly depending on its condition.
As of August 2023, the average value of this coin in average condition is $100+.
However, in uncirculated (MS+) mint conditions, the value can range up to $700,000!
The demand for the 1895-O Morgan Dollar is also high. Despite the bad strikes and lack of finer details, collectors are still interested in adding this coin due to its rarity.
The coin’s history and the story behind its low mintage add to its appeal.
Before you go…
Overall, the 1895-O Morgan Dollar is a rare and valuable coin that collectors highly prize. If you are a serious collector of Morgan Dollars, adding an 1895-O to your collection would be a great accomplishment.
Check out my next article: “1797 Draped Bust Half Dollar: Things to Know!“
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