It's an altered coin. What value would you put on it? An old dealer friend gave it to me for $7.50 about 30 years ago. The 1895 without a mint mark, would be a proof. I'm sure this is not a proof. If not messed with the proof would be a $30,000 coin. The O mint coin would be about $500 and the S mint about $700 in this grade. Someone had to be crazy to have messed with this coin. How do you put a value on a coin with a removed mint mark? I took these images about 20 years ago. I'll take better ones, one of these days.
There's a limited market for a coin like this. Not only will there be few buyers for it compared to an "intact" 95-O or 95-S, but you have to trust that the buyer isn't someone who's going to try to sell it right away as an impaired proof 95 to an unsuspecting novice "investor." It's probably worth junk box money, maybe a little more for someone who just has to have it for their Dansco or something.
You mean on an 1895 Morgan Dollar with a removed mint mark that had the life beaten off it. You need to get it graded. As is, about all one can say is, you should probably get your money back. You need a TPG on it so everyone in your market, provided there even is one, can see where it stands. You know going in it's not going to straight-grade, but that's, of course, not the point. This is an altered coin. Let the market graders tell you about your market. Supposing, just at the worst end, they wouldn't touch this thing with a 10' pole, that their label on it would be that utterly repulsive to them. You would at least have that documentation on your market for it. At a step up, it slabs "Genuine Details," "Erased Mint Mark," or otherwise "Altered and Cleaned." You've at least an honest market defined for it. If you're serious about valuing it, that's how I think I'd proceed. If any coin deserves an opinion from a TPG, I think this one does. Lest, in my opinion, at least, you're pulling numbers out of a hat.
Sadly, I think the piece is a bullion piece now.... I am not a varieties guy but wonder if there are any identifiers that would identify the mint?
Looking at the mint mark area I can see marks in the mint mark area so I would think its a genuine 1895 Silver Dollar
It's an altered coin and crudely done in terms of both art and accuracy. Collecting value is nil except as a curiosity piece. Unfortunately, as a curiosity piece in the area of counterfeits, it's not a very interesting or instructive piece. Overall, I don't see any market for this piece beyond bullion value. Although you can never say for certain that you won't find a buyer who's interested in pieces like these. But such a buyer is likely to be fully aware of just how little value these pieces have and is unlikely to be willing to pay more than a pittance.
I have been looking to upgrade my well worn but honest 1895 O so I have been closely watching these on ebay. Severely damaged ungraded Os and Ss are easily going for ~$250-$350.
Did you read what I was responding to? Do you agree the "value" is contingent upon more than but "a removed mint mark?" OK, now we're going places. For purposes of reference...
I was thinking about the ethical and legal ramifications of selling this coin. Then I realized that one of only two situations where I would be willing to sell this coin would be to someone who conducts counterfeit and altered coin detection classes. Someone who does so under the auspices of a respected numismatic association. Such people exist and they put on classes for the ANA, typically at their Summer Seminar. The other situation would be sale to an ethical "dark cabinet" collector and researcher. And I guess there's a third and that's the melt pot.
Shall we discuss the moral implications of adding a mintmark back to a coin like this? I'd vote for "C", "CC", or "D".