1886 Silver Dollar Value Guide

The 1886 Silver Dollar Value

The 1886 silver dollar has a consistent value across the circulation-strike grades up to extra fine. 

Even though the lower grades of this coin are common, they still reach between $36 and $51 for a “Good” grade. 

You can see a huge jump in the mint-state grades. They range from $72 to $237,000. The high values are reflective of the rarity of the higher grades. 

Prooflike, deep (mirror) prooflike, and proof coins increase these values even further.

An N/A for a value below indicates no publicly known examples of that version of the 1886 silver dollar with that grade, or no value information (or not enough) exists for it yet.

Additionally, all values are conservative estimates based on research. Please note all values are subject to change due to the market or circumstances unaccounted for during research and publication. We always recommend doing further research or consulting with a professional.

Melt Value

The 1886 silver dollar’s melt value is approximately $18. The melt value will fluctuate with the market.

Circulation Strike Value Chart

	Coin Names And Coin Values
Grade Names	1886 Morgan Silver Dollar	1886-O Morgan Silver Dollar	1886-S Morgan Silver Dollar
Good – G	$36	$39	$51
Very Good – VG	$37	$42	$63
Fine – F	$39	$46	$88
Very Fine – VF	$43	$54	$127
Extra Fine – XF	$48	$89	$160
About Uncirculated – AU	$52-$66	$122-$517	$205-$317
Mint State – MS	$72-$16,200 (68)	$1,300-$237,000 (65)	$362-$53,000 (67)

Circulation Strike Prooflike (PL) Value Chart

	Coin Names And Coin Values
Grade Names	1886 Prooflike Morgan Silver Dollar	1886-O Prooflike Morgan Silver Dollar	1886-S Prooflike Morgan Silver Dollar
AU 55 PL	N/A	$690	$395
AU 58 PL	N/A	$767	$512
MS 60 PL	$92	$2,800	$657
MS 61 PL	$102	$4,200	$782
MS 62 PL	$125	$8,700	$1,300
MS 63 PL	$175	$13,000	$4,900
MS 64 PL	$212	$27,000	$15,000
MS 65 PL	$382	N/A	N/A
MS 66 PL	$1,200	N/A	N/A
MS 67 PL	$5,700	N/A	N/A
MS 68 PL	N/A	N/A	N/A
MS 69 PL	N/A	N/A	N/A
MS 70 PL	N/A	N/A	N/A

Circulation Strike Deep (Mirror) Prooflike (DPL/DMPL) Value Chart

	Coin Names And Coin Values
Grade Names	1886 Deep (Mirror) Prooflike Morgan Silver Dollar	1886-O Deep (Mirror) Prooflike Morgan Silver Dollar	1886-S Deep (Mirror) Prooflike Morgan Silver Dollar
AU 55 DPL/DMPL	N/A	$2,500	$450
AU 58 DPL/DMPL	N/A	$3,800	$950
MS 60 DPL/DMPL	$145	$6,600	$1,700
MS 61 DPL/DMPL	$175	$8,500	$2,500
MS 62 DPL/DMPL	$202	$13,000	$8,200
MS 63 DPL/DMPL	$332	$33,000	$31,000
MS 64 DPL/DMPL	$512	$77,000	N/A
MS 65 DPL/DMPL	$1,000	N/A	N/A
MS 66 DPL/DMPL	$3,700	N/A	N/A
MS 67 DPL/DMPL	$13,000	N/A	N/A
MS 68 DPL/DMPL	N/A	N/A	N/A
MS 69 DPL/DMPL	N/A	N/A	N/A
MS 70 DPL/DMPL	N/A	N/A	N/A

Proof Strike (PR) Value Chart

1886 Proof Morgan Silver Dollar
Grade Names	Coin Values
PR 58	$1,500
PR 60	$1,900
PR 61	$2,200
PR 62	$2,700
PR 63	$3,800
PR 64	$4,600
PR 65	$6,700
PR 66	$8,700
PR 67	$15,000
PR 68	$33,000
PR 69	N/A
PR 70	N/A

Cameo (CA/CAM) Proof Strike (PR) Value Chart

1886 Cameo Proof Morgan Silver Dollar
Grade Names	Coin Values
PR 60 CA/CAM	N/A
PR 61 CA/CAM	N/A
PR 62 CA/CAM	$3,100
PR 63 CA/CAM	$4,100
PR 64 CA/CAM	$5,500
PR 65 CA/CAM	$8,600
PR 66 CA/CAM	$11,000
PR 67 CA/CAM	$24,000
PR 68 CA/CAM	$45,000
PR 69 CA/CAM	N/A
PR 70 CA/CAM	N/A

Ultra/Deep Cameo (UC/DCAM) Proof Strike (PR) Value Chart

1886 Ultra/Deep Cameo Proof Morgan Silver Dollar
Grade Names	Coin Values
PR 60 UC/DCAM	N/A
PR 61 UC/DCAM	N/A
PR 62 UC/DCAM	N/A
PR 63 UC/DCAM	N/A
PR 64 UC/DCAM	N/A
PR 65 UC/DCAM	N/A
PR 66 UC/DCAM	N/A
PR 67 UC/DCAM	$48,000
PR 68 UC/DCAM	N/A
PR 69 UC/DCAM	N/A
PR 70 UC/DCAM	N/A

What Makes An 1886 Silver Dollar Valuable?

The 1886 silver dollar is a common coin for the Morgan series. But several things can make it more valuable. 

Let’s start with grading.

Grading

The highest mint-state coins from New Orleans start in the low thousands and reach over $230,000. Even those from Philadelphia and San Francisco go from $72 to over $50,000 in the mint-state range. 

About-uncirculated grades are a little lower in value, ranging from $52 to $517.

Lower grades of the 1886 silver dollar, such as “Good” or “Very Good,” will be worth less than the higher grades because they are common. 

Rarity

The Mint minted 1886 silver dollars approximately 31,423,886 times across all of its versions. Please see the following list for the breakdown for each version:

• 1886: 19,963,000 minted in Philadelphia^1-2
• 1886-O: 10,710,000 minted in New Orleans^3-4
• 1886-S: 750,000 minted in San Francisco^5-6
• 1886 Proof: 886 minted in Philadelphia^13-14

The 1886 silver dollar is not rare, especially the version minted in Philadelphia. 1886 is one of the most commonly found Morgan dollars. 

As a result, you can find a wide variety of these Morgan dollars, from the lowest grades to the highest. This lack of rarity does not help the value outside of the highest mint-state grades and its rarer versions, such as the prooflike and proof coins.

Mint Marks

The U.S. Mint minted 1886 silver dollars in 3 locations: 

• Philadelphia (no mint mark)^1-2 
• New Orleans (“O” mint mark)^3-4 
• San Francisco (“S” mint mark)^5-6

The New Orleans version is the most valuable, selling for hundreds of thousands of dollars at the highest mint-state grades.

The San Francisco version is the next most valuable, followed by the Philadelphia version.

Strike Types

There are circulation and proof strikes for the 1886 silver dollar.^17-18

The U.S. Mint only minted the proof strikes in Philadelphia.  

You can find cameo and ultra/deep cameo versions of the proof strike. The ultra/deep cameo versions are twice as valuable as the cameo because they are rarer. 

In general, proof strikes tend to be more valuable than circulation strikes because fewer exist, and the Mint takes greater care with their minting process. 

The 1886-O circulation strikes are an anomaly to this due to their rarity.

Some proof coins have a grade below 60. These are still proof coins, but they’re called impaired proofs because they have been circulated or show wear in some way.²⁴

Design Variations

The 1886 silver dollar has no design variations.

Special Designations

The 1886 silver dollar has two special designations: prooflike and deep (mirror) prooflike.^2,4,6-12

These are coins struck with the circulation-strike process.^29-30 However, the quality of the strike gives them proof coin qualities.^29-30

Prooflike coins are more valuable than regular circulation-strike coins, and deep (mirror) prooflike coins are more valuable than those.

Error Coins 

There are several examples of error coins for the 1886 silver dollar. These will typically be worth more than circulation-strike coins.

Several struck-through error coins have been found for the 1886 silver dollar.⁴⁰ 

This happens when an object (such as debris) is between the die and the planchet at the time of striking. The item then leaves an impression on the coin, which is not supposed to be there.³⁸  

A struck-through error does not tend to increase the value of the coin.

Rotated dies are also a known error coin for this year of the Morgan dollars.⁴¹ These are often from the New Orleans Mint. This kind of error generally increases the value of the coin.

Die Varieties

VAM die varieties of the 1886 silver dollar will be more valuable. 

The VAMs were created by Leroy Van Allen and A. George Mallis, “VAM” being taken from their last names. The lists catalog different die varieties found in the Morgan and Peace dollars.

Some examples for the 1886 silver dollar are:

• 1886 VAM-1A (line in “6” and slight doubling on Lady Liberty’s ear on the obverse side (the front))²⁰
• 1886 VAM-1C (shifted date on the obverse side and clash marks on the reverse side)²¹
• 1886-O VAM-1A1 (clashed “E” on the reverse side by eagle’s tail feathers plus additional clash marks on both sides)²²
• 1886-S VAM-2 (repunched and slightly tilted “S” mint mark on the reverse side)²³

GSA Hoard

The U.S. General Services Administration (GSA) released approximately 3 million Morgan dollars from the U.S. Treasury. They auctioned these to the public mainly in the 1970s and the start of the 1980s.

These Morgan dollars are referred to as the GSA Hoard. 

Most of the GSA Hoard were from Carson City. However, the 1886 silver dollar is also part of the GSA Hoard.

These coins were in a plastic holder in a black box with a certificate of authenticity. Inside the box was a note from the president at the time, Richard Nixon.

Many removed the GSA Hoard coins from their packaging because the holders were not popular at the time of sale. However, these coins should still be identified as coming from the GSA Hoard.

The 1886 silver dollars from the GSA Hoard will be worth more than the regular coins.   

^{Sources: 26-28}

Composition

Made of 90% silver, the 1886 dollar is worth its weight in silver. 

The current market price for silver is $18, but this fluctuates. 

We do not recommend melting your coin, though, as they are more valuable when sold rather than melted.

How Do You Know If You Have A Valuable 1886 Silver Dollar?

The best way to know if you have a valuable 1886 silver dollar (or any coin) and to get that value out of it is to have it professionally certified.

However, you can look for many elements to get you started in determining what coin you have.

Let’s start with grading.

Grading

A loupe is often helpful when assessing the grade of your coin.

Look for higher grades of this coin. They will have fewer scratches and marks, be well-struck, and have a better luster.²⁵  

You can more easily find the lower grades, which are more worn, show imperfections, and have a lower strike quality, but they are less valuable as a result.²⁵

However, even the lowest grades are still worth over $30.  

Mint Marks

There are 2 mint marks to look for: “O” from New Orleans and “S” from San Francisco.

1886 silver dollars struck in Philadelphia have no mint mark.

You will find the mint mark above the “D” and “O” of “Dollar” on the reverse of your coin.

Strike Types

Be cautious of the many poorly struck 1886 silver dollars. These will be less valuable. 

Proof coins will be of much better quality than their circulation-strike counterparts. Their details are all sharp, and they have next to no imperfections.^29-30

In the cameo versions of the proof strike, you will see a mirror-like finish on the coin’s field, and the design element (such as Lady Liberty) will be frosted.^29-30 This creates a contrast that makes the device stand out and appear more raised from the coin. 

For the ultra/deep cameos, you will see more of an even frosting and mirroring on the coin.^29-30 So, the contrast between the frosty device details and the mirrored field is even more evident than that in the cameos.  

Design Variations

The 1886 silver dollar has no design variations.

Special Designations

Determining prooflike and deep (mirror) prooflike coins from proof coins isn’t easy. Doing so means keeping in mind that prooflike and deep (mirror) prooflike coins are circulation-strike coins with proof qualities.^29-30 Hence, their names. 

So, they will have a reflective look but not other proof-strike characteristics.

Error Coins

Here’s what to look for in 1886 silver dollar error coins.

Struck-Through Errors

Look for any imprints or impressions on your coin that are not part of the coin’s original design.³⁸ Sometimes, they are a very clear impression. Other times, they are a little less obvious. 

In the case of struck-through debris coins (several of which have been found in the 1886-O silver dollars), you can often see sharp lines and grooves. This is a result of the debris between the die and the planchet.

These struck-through errors are quite common and do not tend to increase the value of your coin.  

Rotated Die Errors

You will know if you have this error coin because the obverse and reverse sides of the coin will not match.³⁹ One side of the coin will be offset clockwise or counterclockwise by a certain amount of degrees. 

This error will increase the value of your coin because of its uniqueness.

Die Varieties

Die varieties can be challenging to determine. As a result, we always recommend working with a professional for these.

However, below are some identifiers you can look for to get you started.

Let’s start with the 1886 VAM-1A die variety.

1886 VAM-1A

An 1886 VAM-1A has a line in the “6” of the date on the obverse side (the front).²⁰ It resembles a die gouge. Lady Liberty’s ear also shows slight doubling. 

1886 VAM-1C

An 1886 VAM-1C has the date slightly shifted to the left on the obverse side.²¹ On the reverse side, you can see a series of sideways “V” clash marks next to the laurel wreath. 

Some coins show 3 “V”s, and others only show 2.

Clash marks occur when a die clash happens. A die clash happens when two dies strike each other without a planchet (the plain metal disk that the dies strike into a coin) between them.

In other words, clash marks result from part of a die’s design transferring to another when they strike each other, then that part of the design transfers to the wrong side of the coin.

1886-O VAM-1A1

An 1886-O VAM-1A has one notable clash mark.²² This is an “E” from “Liberty” on the coin’s obverse side, showing by the eagle’s tail feathers on the reverse side.

You can also see parts of “B” and “R” as well as other potential clash marks.

1886-S VAM-2

An 1886-S VAM-2 has a distinct, slightly titled “S” mint mark.²³ You can see faint traces of the previous mint mark underneath the final one.  

GSA Hoard

The 1886 silver dollars GSA Hoard still in their plastic holder and box with a certificate of authenticity are worth more.^26-28 

Check for damage on the box, as it will lower the value. 

Even if the original packaging is missing, the certificate of authenticity should accompany the coin. 

How To Spot A Fake 1886 Silver Dollar

Unfortunately, forgeries of the 1886 silver dollar exist.³¹ Many times, these take the shape of an added mint mark. 

For example, forgers take the readily available mint-state Philadelphia coins and add an “O” or “S” mint mark, which are more valuable versions.

They may add other mint marks as well, such as a “CC” mint mark. This is an easy fake to spot as no such mint mark exists for 1886 silver dollars (they weren’t minted there).

You can also look for areas of discoloration, which occur when forgers glue mint marks on.

Additionally, double-check the authenticity of the coin someone is trying to sell you. You can always ask them to get it certified or do so yourself.

Additional Information About The 1886 Silver Dollar

History

1886 saw silver drop to its lowest price since the Bland-Allison Act and the start of Morgan dollar production. 

Philadelphia broke records for production this year, and even New Orleans minted over 10 million. But while this is one of the most commonly found Morgan dollars, the New Orleans mint-marked coins are a different story.

While common in the lower grades, the higher grades of the 1886-O silver dollar are incredibly rare and reach a premium on the market. 

It is estimated that between 6 and 8 million New Orleans coins were melted. It is suspected this happened due to the 1918 Pittman Act.

The Pittman Act ordered the melting of millions of silver dollars so they could be turned into bullion for sale. As a result, vast quantities of sealed bags of Morgan dollars at the mints became casualties of the Pittman Act. 

Most 1886-O coins available today were out in circulation and thus worn, resulting in lower grades.

Additionally, 1886 marks a poor year for striking quality from the New Orleans Mint. So many of the coins that do remain are not aesthetically pleasing. 

Later, the U.S. Treasury released many 1886 silver dollars in the 1950s and 1960s. They released so many Philadelphia versions that they became exceptionally undesirable, even for their face value.

^{Sources: 1-6,17-18,34}

The Coin’s Obverse Side

Lady Liberty’s left profile fills the center of the obverse side of the 1886 silver dollar. She wears a cap, a headband showing the word “Liberty,” and flowers in her hair. 

“E Pluribus Unum” follows the rim’s curve above her head. “E Pluribus Unum” is Latin for “Out of many, one,” and it’s the motto of the United States Of America. 

The year “1886” is at the bottom of the coin. 

Stars separate the words on each side. 

Morgan’s initial “M” is located at the base of Lady Liberty’s neck. 

^{Sources: 1-2}

The Coin’s Reverse Side

The reverse side of the 1886 silver dollar features a heraldic eagle. The eagle holds 3 arrows and an olive branch. 

Above its head are the words “In God We Trust”. 

Below the eagle is a laurel wreath tied with a bow. This is where the mint mark is. On the left loop of the bow is Morgan’s initial “M.” 

Circling the coin’s rim is “United States of America” at the top and “One Dollar” at the bottom. A single star separates these two. 

^{Sources: 1-6}

Sources

1886 Silver Dollar Value Guide Sources