Hey everyone! I recently inherited an 1893-S Morgan Silver Dollar, and I’m both excited and a bit nervous about the whole selling process. It’s been sitting in my grandfather’s safe for years, and I can’t say I’ve dabbled much in the world of rare coins. From what I can tell, it looks to be in pretty good condition, but I’m no expert and don’t want to sell myself short.
I’ve done some initial research and see that the 1893-S is considered one of the key dates in the Morgan series, but I’m unsure about the specifics of grading and how that affects the value. I’ve seen prices range quite a bit from $1,000 to over $10,000, depending on the grade. Do any of you have tips on how to assess its condition more accurately or suggestions on reputable appraisers? I’m really looking to find out its fair market value before taking any steps towards selling it.
What’s your experience with key date coins like this? How did you determine the value of your pieces? I’d love to hear any personal stories or advice you might have!
Great to hear about your 1893-S Morgan! It’s definitely a significant piece in numismatics, and you’re correct about the price variability. The value really hinges on the grade, which can be quite subjective without professional appraisal. I recommend getting it graded by a reputable service like PCGS or NGC. They can provide a detailed assessment, and their grades are well-recognized in the market.
- Check recent auction results for similar coins.
- Consult price guides for a general idea.
- Consider submitting it to a grading service before selling.
Let me know if you need help finding a local appraiser!
15 Likes
I just want to say that the 1893-S is a sweet coin! My grandfather had one, and when he passed, I was shocked at how much it was worth. Depending on the condition (like Mint State or Proof), the value does vary. Have you had a chance to take a closer look to determine if it might be Uncirculated? That can make a huge difference!
5 Likes
Thanks @CoinGuru121! I appreciate the advice on grading. I was thinking of contacting NGC since they have a good reputation. I will definitely look into recent auction prices as well.
2 Likes
I’ve sold a few key date coins before. What I found helpful was checking USMint for the historical context and rarity of the coin. Plus, taking it to a local coin show can be a great idea because you’ll find both buyers and seasoned collectors who can offer immediate insights and sometimes better prices than online. Good luck!
7 Likes
Yes, definitely assess the condition! I had a similar experience, and mine was graded EF-40 when I thought it was better. You might think it’s Gold, but if it’s in the Good grade range, it’ll sell for less than you imagine! So take a careful look. Also, always clean it before any evaluation! Just kidding! Don’t clean it! 
4 Likes
I would add that you should also look for any toning or unique marks on the coin, as these can significantly affect the value. If the coin has any proof-like qualities (mirror-like surfaces), it can fetch a higher price even if it’s not technically a proof coin. Getting familiar with PCGS and NGC grading systems can help you understand where your coin might fit. Hope that helps!
3 Likes
Thanks, @OldCollector83! The cleaning joke gave me a good laugh! 
I’ll be extra careful with it. I think I’ll gather some friends to help me look it over before I send it out for grading.
1 Like
That’s a solid point, @NumismaticNerd95! Shine a light on it at different angles to see the surfaces; sometimes that’s where surprises lurk. I had one that looked uncirculated, but once I got it graded, I was surprised by the result. Definitely don’t skip the lighting aspect! Good luck with the grading!
2 Likes
I’ve seen local dealers offer very fair prices for key date coins if you have solid proof of its grading. They usually have better insights into the current market trends too. Just remember to check multiple places. Always trust but verify!
6 Likes
One more thing! Make sure to keep the coin in a safe holder while you’re waiting to get it graded. It can really help maintain its condition and, as a result, its value. A simple 2x2 holder can work in the meantime.
4 Likes