1896 Morgan Silver Dollar

Morgan Silver Dollars from the latter half of the 1890s are not nearly as expensive as those from the first half and, most particularly, the middle part of the decade. 1896 Morgan Silver Dollars are quite reasonable in price as compared to issues from 1893, 1894, and 1895. While the San Francisco issue from 1896 is a fairly expensive coin in all grades, the regular-issue Philadelphia and New Orleans pieces can be bought in the lower circulated grades for only a small premium over their melt value.

The 1896 Morgan Silver Dollar was produced in three mints: New Orleans, Philadelphia, and San Francisco. The New Orleans Mint used an "O" and the San Francisco Mint an "S”. The main mint in Philadelphia did not use a mintmark. Proof examples of Morgan Dollars from all years, including 1896, are rare which makes them expensive.  

1896 Morgan Silver Dollar Mintage Figures

•          1896: 9,976,000; $35+
•          1896-O: 4,900,000; $35+
•          1896-S: 5,000,000; $100+
•          1896 Proof: 762; $3,000+

Because of high mintage figures, the 1896 and 1896-O Morgan Silver Dollars should not be difficult to locate and can be safely bought raw nearly anywhere. The 1896-S dollar, given its scarcity on the market, should be purchased as slabbed because there are a large number of counterfeit and altered silver dollars on the market. Given the relatively high volume of 1896 Morgan Dollars available, you shouldn’t feel rushed into purchasing the first one you see. Unless you are focusing your efforts on collecting a low-grade set of Morgan Dollars, hold out for higher-end pieces if your budget and tastes warrant.