Jason S. writes: I recently found an 1897 silver dollar. It is not in top condition, but I still know that it is worth some money. I would like to know how much it is worth.
The Morgan Dollar dated 1897 was minted in Philadelphia (no mint mark), New Orleans (O), and San Francisco (S). Average circulated pieces are only worth about $23 and this only because the century dollars are popular and they have a considerable silver value. The date is only valuable in Almost Uncirculated grades or higher with the 1897-O being the rarer of the three
An uncirculated ’97-O would bring anywhere from $300 in MS60 to many thousands of dollars in gem grades. The reason for the great disparity in price is the scarcity of uncirculated pieces. I guess there weren’t many collectors of this coin in 1897 to preserve them for posterity. The same fate may befall our own copper nickel Washington Quarters that everyone believes are common. In the future, they may be as scarce in uncirculated grades as the 1897-O Morgan is today.