The 1895 Morgan silver dollar, minted at the Philadelphia Mint, is one of the most famous and valuable coins in the Morgan dollar series. Although records indicate 12,000 business strikes were minted, none have ever been found, making the 1895 Morgan dollar known only by its 880 proof strikes. This rarity and mystery have earned it the nickname "The King of Morgan Dollars."
The 1895 Morgan dollar was minted during the final years of the Morgan series, which ran from 1878 to 1921. The Philadelphia Mint reportedly produced 12,000 business strikes in 1895, but no known examples exist. Only 880 proof coins were officially struck, and around half of those are believed to still exist today. Theories suggest that the business strikes may have been melted down under the Pittman Act of 1918 or that leftover 1894 dies were mistakenly used to mint the coins.
| Specifications | |
|---|---|
| Size | 38.1 millimeters |
| Denomination | 1 USD |
| Gross Weight | 26.73 grams |
| Actual Silver Weight | 0.7734 troy ounces of silver |
| Fineness/Composition | 90% silver, 10% copper |
| Diameter | 38.1 millimeters |
| Thickness | 2.4 millimeters |
| Specific Gravity | ~10.34 |
| Numismatic Price Range | $37800 - $269500 |
The obverse of the 1895 Morgan dollar features George T. Morgan's iconic portrait of Liberty, wearing a Phrygian cap adorned with wheat and cotton, symbolizing liberty and agricultural abundance. The reverse depicts an eagle with outstretched wings, clutching arrows and an olive branch, representing both strength and peace. The inscriptions include "E Pluribus Unum," "In God We Trust," and "United States of America." There is no mintmark since it was minted in Philadelphia.
The 1895 Morgan silver dollar is a numismatic treasure due to its extreme rarity and the mystery surrounding its business strikes. Its high value and desirability are driven by the small number of proof coins available. Collectors highly prize this coin, with even low-grade proof examples commanding tens of thousands of dollars. The lack of business strike examples further adds to the allure of this iconic coin, cementing its place as one of the most significant and sought-after coins in American numismatics.
The 1895 Morgan dollar is one of the most expensive coins in the Morgan dollar series. Proof grades in circulated conditions range from $37,800 (Proof 25) to $46,000 (Proof 55). Uncirculated (Mint State) proof coins are far more valuable, with prices ranging from $53,200 (Proof 61) to auction records exceeding $150,000 for Proof 66 examples. Deep Cameo (DCAM) proof coins fetch even higher premiums, with auction records reaching $269,500 for a Proof 67+ DCAM.
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