The Silver dollars minted between 1878 and 1904 are in high demand because of their beautiful and unique appearance. Only a select few varieties of 1888 silver dollars have the potential to fetch substantially greater prices. Want to know which ones? Then keep reading！
What is the 1888 Silver Dollar Value? The increasing demand by collectors for the Morgan silver dollars is a good indicator that your coin might increase in value significantly. The 1888 silver dollar is a beautiful alternative for affordable mint-state coins.
In this article, you will learn more about the value of the 1888 silver dollar, its background, features, and more.
The Value of 1888 Silver Dollar Varieties
1888 Non-Mint Silver Dollar
The Philadelphia mint minted the most 1888 Morgan silver dollars, totaling 19,183,000. The average value of a circulating coin is between $30 and $60, with higher prices for those stored in better condition. The dollar's state and specifics determine its worth, although high-grade coins may be worth a fortune.
1888 Morgan Silver Proof Dollar
While most of the coins are attractive, they lack the striking cameo contrast that would make them truly stand out. Pieces with moderate cameo contrast are valued at $25,000–$30,000, while those with high cameo contrast command prices in the $50,000–$60,000 range.
The 1888 S Silver Dollar
Only 657,000 pieces were struck at the San Francisco mint, making them value from $75 to $5,100, depending on their state of preservation. With prices ranging from $22,000 to $26,400, only serious collectors with unlimited funds can afford to purchase coins in the highest grades.
The 1888 O Silver Dollar
The price of a Morgan dollar with the O mint mark in uncirculated condition may vary anywhere from $60 to $15,000. In 2016, the 1888 O Silver dollar M.S. 66+ topped the auction block at Legend Rare Coin Auctions.
1888 Proof Silver Dollar
In 2021, an amazing auction record was set for an 1888 Proof Morgan silver dollar – $16,450. It was struck at the United States Mint in Philadelphia. This exquisite coin is highly sought-after by collectors and investors alike, as it is a rare example of an iconic American coin.
Morgan Dollar Variations
The V.A.M. Morgan dollar is a collection of rare die variations highly sought after by coin collectors. The initials V.A.M. stand for Van Allen and Mallis, the two collectors responsible for discovering and cataloging the coin varieties.
The “Scarface” and “Hot Lips” Morgan dollars, two of the most well-known and popular Morgan dollar variations, are included in the 1888-O mintage.
O “Scarface” 1888 Morgan Dollar
An obverse dies crack that begins in the area of the dot between the letters E and PLURIBUS is what makes the “Scarface” Morgan dollar. The break creates a “scar” across Liberty's nose and face, slanting downward and rightward. Cracks and scars on coins may vary in length and depth depending on how near the die came to breaking during striking.
The highest price fetched for an 1888-O Morgan silver dollar in an auction in 2023 was $19,200.
1888 “Hot Lips” Morgan Dollar
Hot Lips Morgan dollars are named so because of the excessive die doubling on Liberty's lips. You may see a whole pair of upper lips layered on specific samples. This coin had a significant role in popularizing collecting different types of Morgan dollars and has a V.A.M. 4 rating.
Which Are the Different Conditions Of the 1888 Morgan Silver Dollars?
A wide variety of 1888 Morgan Silver coins are available, and their values range widely according to their quality. Circulating and uncirculated samples of the silver dollar may fetch significant amounts, with the latter bringing just a fraction of the former.
To be considered “uncirculated,” a coin must retain every original feature. It is okay for silver dollars to have scratches and cracks from being handled and stored. Lady liberty's chin, neckline, and hair above and below and the whole coin still have the original mint shine, attesting to its uncirculated quality.
However, once the dollar gets into circulation, these spots are the first to show wear; they become dull and smooth. They are worth between $30 and $300.
A silver dollar in “very excellent” condition has some noticeable but not extensive wear, and the pattern and metal have worn away varying degrees. Liberty's hair may have lost some finer texture and coloration, most noticeably around the temples and at the nape of her neck.
The cap's folds also exhibit wear on the crown due to repeated handling. They may be worth between $30 and $100.
Silver dollars classified as “fine” have noticeable signs of mild wear over the whole coin. Liberty's hair is visibly thinning below and above the ear, with broad, flat areas replacing the formerly fine lines. When you flip it over, you'll see that the wreath's leaves are highly flat, the eagle's neck feathers have blended, and the very top of the wings is missing any detail.
1888-S dollars in “fine” condition are scarce and cost more than $200.
The Background of the 1888 Silver Dollars
The 1888 Morgan Silver dollars got their name from George T. Morgan, who designed them. George picked Anna, a teacher from Philadelphia, to portray lady liberty. The Morgan silver dollars are pretty unique and beautiful. They emerged due to the passing of the Sherman Silver Purchase Act and the Bland-Allison Act.
What Are the Features Of the 1888 Silver Dollar?
The face of the coin depicts Lady Liberty in the center, with seven stars to her left and six stars to her right. Along the upper rim of the coin is the inscription E*PLURIBUS*UNUM, while the lower edge has the mint year.
The coin's tail displays an eagle with its claws on an olive branch and three arrows. In addition, IN GOD, WE TRUST is written over the words UNITED STATES OF AMERICA. Underneath the wreath is the mint mark, and on the left is a single letter M for the designer's initials.
This coin is 90% silver and comprises 24.06 grams of precious metal. In addition, each piece is 1.5 inches wide and exactly 0.09449 inches (2.4 mm) thick for a total weight of 0.85939 +/- 26.73 g.
You may find a wide selection of 1888 silver dollars from reputable vendors. Knowing their grades, which may vary from uncirculated to excellent, can help you assess their worth. Since the uncirculated version was never in circulation, its quality is unparalleled.