Before going into any detail as to how to grade this coin and what it may be worth, an important bit of advice: This coin, or any other old coin to be precise, should under no circumstance be cleaned. Cleaning coins can remove the protective surface and cut the value of a coin down by up to 90%. With that out of the way, it is time to have a look at this particular coin.
- 1878 Morgan Silver Dollar
The year stated identifies it as being minted in the first of five mint runs of the Morgan Silver dollar. It has not been stated whether the coin has a mint mark, which should be situated slightly above and more or less between the letters D and O of the word DOLLAR on the coin. If there is no mark, the coin was minted in Philadelphia. An 'O' would identify the mint as New Orleans, while a 'CC' would mean the coin has been minted in Carson City and could therefore be worth a lot more. As these coins consist of 90% silver, even an incredibly worn coin can be worth four times its face value.
Coins are graded on a scale from zero to 70, depending on their
condition. A coin in good condition would be a Grade four, while an uncirculated coin in mint condition, for example, may be a Grade 70.
Depending on its condition and the mint mark, if any, this coin could be worth anything between $30 and $150, which is the value of the coin minted in Carson City. The safest way to get a more precise answer would be to contact a dealer who is an ANA member for a professional, honest estimation of the value of this coin.
