1886 Morgan Dollar
Guidelines for Collecting:
The 1886 silver dollars produced at the Philadelphia Mint are very common as the 19,963,000 circulation strike mintage broke all previous records for the denomination. Quantities were released by the Treasury over a long period of years. In the 1950s, anyone finding a $1,000 bag of 1886 dollars may have thrown it back like a fisherman tossing back an undersized trout. Today, examples are available in both worn and Mint States grades. Most are well struck, but due to the overuse of dies, more than a few surviving Mint State coins are grainy and show metal flow lines. Generally, the luster on the 1886 is quite dull.
Availability in Circulated Grades:
EF and AU coins abound and may be obtained at a small cost above “melt” in many instances.
Availability in Mint State Grades:
There is no shortage of Mint State coins, even in the upper MS-65 and 66 levels. Look for a nice MS-65 with bold luster and a solid strike for the optimum “bang for your buck.”
Availability in Proof:
Always available in most grades but look for a pleasing specimen with cameo contrast; a diligent search will prove rewarding in the long run.
The example to the left was sold by Stack's Bowers Galleries in the August 2018 ANA Auction, where it realized $15,000.
1886 Morgan Dollar Auction Highlights
 NGC PF-68 CAM Sold for $34,800 View Lot 3104 |  NGC PF-67 CAM, CAC Sold for $21,150 View Lot 10156 |  PCGS PR-67+, CAC Sold for $18,000 View Lot 4139 |
