To most coin collectors, the Morgan dollar is one of the must-haves in their coin collection. This is due to its rich history going back as far as 1878 when it was released. Interestingly, these dollars were made in silver by the United States government in order to boost the price of silver that dropped sharply in the 1870s in an effort to help the mining industry.
In this day and age, as mentioned earlier, this bullion coin is sought after by coin collectors the most apart from Lincoln Cents.
Yet in order to ascertain the coin value, grading by experts can give the owners of this rare and precious coin a decent picture as to how much the coin costs based on its current condition. And most people who have gone through this process will know that grading a coin is indeed a meticulous task, sometimes taking hours of scrutiny by the grader who has to look for flaws that might not be apparent to the naked eye.
Apart from looking for minor or major scratches, the grader will also mandatorily have to look closely at the hair lines, face, hat, eagle, and letters on the coin in detail. Each of these aspects plays an important part in determining the current value and grading of the coin.
Based on the findings of the grader, the silver dollar can receive different types of grading such as VF (Very fine), EF (Extremely Fine), AU (About Uncirculated), MS (Mint State) and (PF) Proof.
The greater the grade, the greater the value. Yet if a coin gets a grade less than VF, the value of the coin will be considered to be the current spot value of silver.
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