Behind every American coin lies a fascinating piece of history. The iconic Carson City Silver Dollar is a prime example. This legendary silver coin tells the story of westward expansion, burgeoning industrialization, booming capitalism, and increasing silver demand.
What is a Carson City Silver Dollar?
A Carson City Silver Dollar can refer to any one of several silver dollars minted at the Carson City Mint in Nevada. This short-lived branch of the US Mint produced a number of silver dollars between 1870 and 1893. Despite opening its doors in 1863, production took a while to kick off due to the austerity following the Civil War.
In 1870, the Seated Liberty Dollar became the first coin struck at the mint. Production lasted until 1873 when it was replaced by the Trade Dollar which saw five years of minting. The final silver dollar denomination produced by the mint was the Morgan Silver Dollar. This iconic iteration enjoyed the longest stretch of minting between 1878 and 1893 with a short hiatus from 1885 and 1889. The Morgan Dollar is easily the most popular and sought-after of the Carson City silver dollars.
How much is a Carson City dollar worth?
While a Carson City Silver Dollar only carries a face value of $1, its inherent worth far exceeds its nominal value. These coins hold exceptional numismatic worth owing to their historic significance, considerable scarcity, and strong demand among investors and collectors. These combined factors contribute to substantial inherent value, resulting in Carson City Silver Dollars commanding respectable prices.
There are various factors affecting the value of a Carson City Silver Dollar including the type of coin (i.e. Seated Liberty, Trade, or Morgan Silver Dollar), availability, condition, and historical value. For example, a Carson City uncirculated silver dollar is automatically going to be priced higher due to its rarity and grading. When compared to most American coinage, silver dollars bearing the CC mint mark consistently excel in these aspects, further elevating their desirability.
Looking at previous auctions, a Carson City Silver Dollar can fetch anywhere between a couple hundred to several thousand dollars. Before selling or buying a CC silver dollar, it’s advisable to speak with an experienced coin dealer to gain an accurate determination of value.
What is the most valuable Carson City dollar?
The value of coins consistently changes with fluctuations in demand, availability, and other relevant factors. However, the highest-valued Carson City Silver Dollar sold for just under $900,000 in 2013. The 1889 Morgan Silver Dollar received an MS-68 rating despite having been minted over a century ago.
How many Carson City Silver Dollars were made?
Nearly 14 million silver dollars were minted at the Carson City Mint, although only a small fraction of survives today. Morgan Dollars comprise the overwhelming majority of the initial mintage with 13,766,041 coins produced. The productions of Seated Liberty and Trade Dollars pale in comparison with 19,288 and 124,500 mintings respectively.
The 2021 Carson City Morgan Dollar
In 2021, a series of modern Morgan Dollars were minted bearing the unmistakable CC mint mark. Misleadingly, these coins weren’t produced at the iconic Carson City Mint which hasn’t minted a single coin in decades. Instead, the coins were minted in Philadelphia. The US Mint emblazoned the 2021 Morgan Dollars with the CC mint mark “in recognition of the historic Mint facility.” This is the only set of coins that features the sought-after CC mark without actually having been manufactured there. If you’re looking for a bonafide Carson City Morgan Dollar, make sure it was minted between 1878 and 1893.
Is it worth investing in a Carson City Silver Dollar?
Although a Carson City Silver Dollar can fetch high prices, its investment decision really depends on an individual’s long-term goals and budget. The benefits of these classic coins include steady price action, respectable value increase, high numismatic value, and decent liquidity. Before pulling the trigger on a Carson City Silver Dollar, it’s advisable to speak with a precious metals expert to make sure it aligns with your investment goals. The advisors at Scottsdale Bullion & Coin would be more than happy to help you through this process. You can contact us by calling toll-free at 1-888-812-9892 or using our live chat function. We can help you determine which precious metals assets are best given your specific circumstances.