Investing in 1878 CC Morgan Silver Dollar

Investing in rare coins can feel like an adventure. You aren’t just putting money into an investment displayed on a screen but also purchasing a piece of American history. 

Rare coins often become scarcer over time, so in many cases, a coin’s value can continue to climb for years after you buy it. While some collectors purchase coins without ever intending to sell them, rare coins can also yield a significant return on investment when you correctly time your purchase and sale.

One of the most fascinating investment coins is the 1878 Carson City (CC) Morgan silver dollar. Here’s a closer look at the 1878 CC Morgan silver dollar value, its history and how to invest.

1878 CC Morgan Silver Dollar Value

If you have experience investing in rare coins, you already understand they can have tremendously different values. Those variations are based on factors like a coin’s condition and the location of the mint that made the coin.

Auction records of 1878 CC Morgan silver dollars reveal that these coins can sell for around $50 in well-worn condition. However, coins in pristine condition – those with an American Numismatic Association grade of MS-67 or above – can sell for $30,000 or more.

Of course, the value of 1878 CC Morgan silver dollars often falls somewhere between these two extremes. Even finding a coin in fair condition is impressive. It’s remarkable that a coin has survived more than a century in circulation and still appears relatively unscathed.

History of the 1878 CC Morgan Silver Dollar

Silver dollars are not as prominent as they once were. However, the Morgan silver dollar symbolizes America’s expansion into the West and its subsequent rise to global power.

The Morgan Silver Dollar was created due to the passing of the Bland-Allison Act of 1878. This law was meant to stimulate economic growth after the Panic of 1873, a depression that plagued the U.S. and Europe. The law required the U.S. government to buy $2 million to $4 million in silver each month and mint it into dollar coins.

As an assistant engraver, the Philadelphia Mint’s George T. Morgan designed the coin. He decided on an image of Liberty for the front and an eagle for the reverse. However, in a departure from the work of many coinmakers of the time, Morgan chose to seek out an American woman to pose as Liberty. 

Until this point, most depictions of Liberty personified had been based on Greek-inspired designs. Morgan chose a schoolteacher named Anna Williams to model for the coin.

If it hadn’t been for the Bland-Allison Act, these coins might have only been made at the Philadelphia Mint. However, the quota set by the act was high enough that the United States needed to use four different mints to meet it. In 1878 alone, there were about 22,758,000 Morgan dollars minted across these four mints:

• San Francisco: Mint mark of “S”
• Carson City: Mint mark of “CC”
• Philadelphia: No mint mark
• New Orleans: Mint mark of “O”

Any 1878 Morgan dollar is a piece of history. However, collectors have consistently valued Carson City Morgan dollars more highly than those made at other mints. Part of that is because relatively few Morgan dollars, about 2,212,000, were minted in Carson City. Coin retailers estimate that about 40,000 of the original coins still exist.

However, much of the value of CC Morgan dollars has to do with the mystique of the American West. Carson City was (and still is) considered emblematic of America’s Western expansion. When you hold an 1878 Morgan dollar, you hold a piece of that legacy.

How to Check if Your 1878 CC Morgan Silver Dollars Are Valuable

Like many rare coins, the value of an 1878 Morgan dollar depends heavily on its condition and a few other factors. Here’s how to check the 1878 CC Morgan silver dollar value:

Condition

Most coins are assessed using coin grading systems. The higher the grade, the more valuable your coin will be. It’s virtually unheard of to find a Morgan silver dollar uncirculated, but the closer it is to uncirculated condition, the more valuable it’s likely to be.

Date

The year a coin was made impacts its value. Because 1878 was the first year CC Morgan silver dollar coins were produced, this is generally the most valuable production year.

Mint Marks

A mint mark will tell you where your coin was made. For instance, if your 1878 Morgan dollar has a “CC” mark, it was made at the Carson City Mint, which generally means it’s more valuable than Morgan dollars made at other mints. 

Mint Errors

Mint errors might be inconsequential to most people, but they’re an exciting and potentially lucrative discovery to coin collectors. For example, double strikes, an error where the die used to make the coin hit it twice, can cause a coin to appear distinctive and, therefore, more valuable.

How to Buy and Sell the 1878 CC Morgan Silver Dollar

Buying and selling rare coins and other collectibles is more challenging than buying and selling other investments. To maximize the return on your investment, you must be able to keep purchase prices to a minimum while making as much as you can from a sale.

If you want to purchase 1878 CC Morgan silver dollars, coin shows and online auction sites can be a good place to start. Coin shows also allow you to connect with other collectors who may be able to offer you additional tips.

Before determining that you possess an 1878 silver dollar worth a certain amount, you should always have it professionally appraised. If you have an exceptionally rare or valuable Morgan dollar, consider selling it through an auction house instead of arranging the sale yourself.

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The 1878 CC Morgan Silver Dollar: More Than Just an Investment

Investing in rare coins can be an enjoyable hobby and a lucrative investment opportunity. Some coins are even worth millions. If you’re interested in learning about history and potentially making money in the long run, 1878 CC Morgan dollars are worth a look.

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