1897 Morgan Silver Dollar

Ok, so I think this coin is in pretty good condition. You can see details in the coin. So with poor condition it seems that the value is typically below the silver melt value. However with better condition coins I have not figured out how to figure their value. All tips and pointers would be gladly accepted.

Thanks a lot!

 

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Start with a silver coin is ALWAYS worth it's melt value but selling it for that is another story.
As for figuring their actual value, the easiest way is to buy the current Red Book and look the coin's value up. This however will change each year. In the end it's simply a matter of how much you can get someone to pay you for it. Most dealers will not pay higher then their grey sheets (dealers version of red book) which is anywhere from 60-90% of redbook value.

 

What is redbook value compared to melt value typically?

 

Try here: www.numismedia.com

 

Depends on how out of date the Red Book is. Silver prices change constantly. The Red Book is released yearly several months after its pricing has been set.

 

My dealer pays melt!

 

thats a nas coin.

 

Nas?

 

nas A.K.A nice.

example: thats a nas car

red neck way of saying nice.

 

Sweet!

 

yeah, one problem.... im no red neck....
now back to the subject

i like that coin, jelousy setting in.......

 

That's a nice Morgan. I would call it an XF-45, but it looks like it took a fairly harsh cleaning sometime in the past. So XF details would be the grade. Is this your first Morgan Loto?

 

why does cleaning a coin lower its value?

 

There are several reasons. Most collectors want their coins in with its original patina because it tells some of the history of the coin. Cleaning can hide modifications made to the coin (like removing a mint mark for instance). It just looks unnatural and so on.

 

i kinda like it when people clean the coin. but if it lowers the price im all good with that!.

 

I should mention that the are proper ways of cleaning coins, but usually the best thing to do is just give them a quick bath in some acetone. It is not recommended for copper coins, for those use verdi-care. Never rub your coins with anything abrasive, this includes clothes, paper towels and your fingers, all can leave scratches across the surface of the coin.

You should really know what you are doing before attempting to clean your coins or you can destroy the value.

 

what about vinager with salt for pennys?

 

I do not advocate cleaning coins, so those are the only suggestions that I will give, but you may want to read this thread. http://www.cointalk.com/t205352/

 

Actually...

It is one of 10 Morgan's that I have.

 

Worth melt. It is a very harshly cleaned very common date Morgan that would get no grade, due to damage. I would say VF details harshly cleaned.