1888 Silver Dollar Value

A Complete Beginner-Friendly Guide

If you’ve found or inherited an 1888 silver dollar, you might be wondering what it’s actually worth. The answer depends on three main things:

• The mint mark

• The condition (grade)

• Whether it has any special collector appeal

Most 1888 silver dollars are Morgan dollars — officially known as the Morgan Dollar — one of the most popular U.S. coins ever made.

Let’s break it down clearly.

---

What Silver Dollar Was Made in 1888?

In 1888, the United States produced the Morgan silver dollar only. There were no Peace dollars yet (those started in 1921).

Morgan dollars contain:

• 90% silver

• 10% copper

• 26.73 grams total weight

• 0.7734 troy ounces of pure silver

That silver content gives the coin a built-in melt value — even if it’s heavily worn.

---

1888 Silver Dollar Melt Value

The melt value depends on the current silver spot price.

Formula: 0.7734 × current silver price

Example at different silver prices:

Silver Price	Melt Value
$25/oz	$19.33
$30/oz	$23.20
$40/oz	$30.94
$50/oz	$38.67

Even in poor condition, an 1888 silver dollar is usually worth at least its silver content.

Keep in mind:

• Melt value = raw silver only

• Collector value is often higher

1888 Morgan Dollar Mint Marks

The mint mark is located on the reverse, below the eagle.

Here’s what was produced in 1888:

Mint	Mint Mark	Approx. Mintage	Notes
Philadelphia	None	19,183,000	Most common
New Orleans	O	12,150,000	Very common
San Francisco	S	657,000	Scarcer
Carson City	CC	188,000	Highly collectible

1888 Silver Dollar Value by Mint

1888 (No Mint Mark – Philadelphia)

• Circulated: $30–$45

• Uncirculated: $60–$150+

• Gem MS65+: $200+

Very common date. Most value comes from silver plus condition.

---

1888-O (New Orleans)

• Circulated: $30–$45

• Uncirculated: $70–$200

• High grade examples bring more

New Orleans coins are common but can have weaker strikes.

---

1888-S (San Francisco)

• Circulated: $35–$60

• Uncirculated: $300–$1,000+

Low mintage makes this one significantly more valuable in higher grades.

---

1888-CC (Carson City)

• Circulated: $200–$400+

• Uncirculated: $600–$2,000+

• High grade: Much higher

Carson City Morgan dollars are extremely popular due to their Old West history. Even worn examples carry strong premiums.

---

How Condition Affects Value

Condition matters more than many people realize.

Basic grading levels:

• Good (G-4): Heavy wear

• Fine (F-12): Moderate detail visible

• Extremely Fine (EF/XF): Light wear

• About Uncirculated (AU): Very slight wear

• Mint State (MS60–MS70): No wear

An 1888-S in worn condition might be worth $40.
The same coin in MS65 could be worth over $1,000.

That’s why grading is critical.

---

Special 1888 Morgan Dollar Varieties

There is a famous variety:

1888-O “Hot Lips” Variety

On some 1888-O coins, Liberty’s lips appear doubled due to a die error.

These can bring:

• $100–$300+ depending on grade

Collectors pay extra for recognizable die varieties.

---

Is an 1888 Silver Dollar Rare?

It depends on the mint:

• Philadelphia & New Orleans: Common

• San Francisco: Scarce in high grade

• Carson City: Rare and collectible

Overall, most 1888 silver dollars are not rare, but certain mint marks and high grades are very desirable.

---

Should You Sell or Keep It?

Here are a few practical considerations:

• If it’s common and circulated, it trades close to silver value plus a small premium.

• If it’s uncirculated, it may be worth grading.

• If it has a CC mint mark, consider professional authentication.

Many collectors hold Morgan dollars for:

• Historical value

• Silver exposure

• Long-term collectible potential

Always compare offers before selling.

The 1888 silver dollar value can range from:

• Around $30 (common, circulated examples)

• To several thousand dollars (rare mint marks in high grades)

Start by checking:

1. The mint mark

2. The condition

3. The current silver price

If you’re unsure, a reputable coin dealer or grading service can help determine an accurate value.