Last Updated on March 30, 2022
The 1896 silver dollar coin is the Morgan silver dollar, which was issued in the year 1896. It is primarily composed using silver, which is why it is known as the silver dollar coin. Since most of the composition of the 1896 silver dollar has been of silver, the worth of this dollar coin tracks that of the silver spot market.
So, as silver becomes more valuable, the base value of the 1896 silver dollar coin also becomes higher. This is due to the fact that not only does this dollar coin hold a numismatic value, but it is also regarded as silver bullion.
How Much Is The 1896 Silver Dollar Worth?
Since the 1896 silver dollar value tracks the value of silver in terms of its weight in silver, the base value of this silver dollar coin, in its circulated condition, is at minimum equivalent to its worth in silver weight. This base worth is calculated using the value of silver melt, which, as of stands around at 19.75 dollars.
This value is derived from the value of silver in the spot market, which currently stands at 25.53 dollars for each ounce of silver.
Apart from being valued as silver bullion, the 1896 silver dollar coin also holds numismatic value, which is why the condition it is in also greatly dictates its value. So, an 1896 silver dollar coin, the condition of which is considered to be extremely fine, which does not have any mint mark, is known to have a value of anywhere around 30 dollars.
Coins that are categorized to be in uncirculated condition have a better aesthetic appeal, which is why their numismatic value is also higher than coins that are in circulated condition. This is why an 1896 silver dollar coin that is in uncirculated condition and within the MS 60 grade has a value that is much higher, which is around 50 dollars.
That is not all; the 1896 silver dollar value can even go around 160 dollars if the coin is in uncirculated condition and falls within the MS 65 grade.
1896 O Silver Dollar
The 1896 O silver dollar coin is one of the several series of the 1896 silver dollar coin itself. The worth of this series is higher than that of the basic series. So, an 1896 O silver dollar coin in a condition known as very fine will have a value of 42 dollars. If the coin is regarded to be in an extremely fine condition, then the value of the coin can be around 45 dollars.
However, the value goes even higher if the coin is in uncirculated condition and falls within the MS 60 grade, which can then be around 1,700 dollars. In fact, the 1896 silver dollar value for this series can even go up to around 160,000 dollars if the coin is considered to be in MS 65 grade.
The 1896 S Silver Dollar
The 1896 S silver dollar coin is another series for the same coin, where a coin in very fine condition can have a value of around 75 dollars. This value can even go up to around 250 dollars if the coin is considered to be in an extremely fine condition.
That is not all; if the 1896 S silver dollar coin is in uncirculated condition and in the MS 60 grade, then the worth can increase to 2,600 dollars. This value could go up to 9,500 dollars if the grade increased from MS 60 to MS 65.
1896 Silver Dollar Proof Coins
The proof coin series for any coin is known to be much more valuable and unique for any coin series, which is also the case with the 1896 silver dollar coin. So, a coin that is in PR 63 condition and does not have a mint mark on it can have a value of around 3,000 dollars.
This is due to the fact that proof coins for the 1896 silver dollar coin are much rarer than that of other coins, as there were only a total of 762 proof coins minted for this particular coin.