The Rarity of the 1885 Silver Dollar

When we dig deep into the realm of coin collecting, certain gems capture our attention. Among those, the 1885 silver dollar holds a special place. Produced over a century ago, these coins have a unique blend of history and rarity. What makes them so rare? Let’s dissect the backstory.

Widespread Melting in the Pittman Act of 1918

The first significant factor revolves around the implementation of the Pittman Act of 1918. Quick history lesson here, this law basically gave the government liberty to melt down millions of silver dollars. The silver was then used to mint subsidiary coinage and for selling to Britain who desperately needed it because of World War I. The 1885 silver dollar was a primary victim of this legislative decision, making its original population drop significantly.

Low Original Mintage

Moving on, another compelling factor is their low original mintage. The 1885 silver dollar had a fairly low production run to begin with, even before the Pittman Act came into play. The three mints in operation during that year – Philadelphia, Carson City, and San Francisco – produced different quantities, with Carson City minting the fewest. Lower mintage implies fewer coins for collectors, thereby increasing its desirability and rarity.

The CC Mystery

Specifically, the treasured 1885-CC (Carson City) silver dollar tells an interesting tale. It’s more prized and elusive, given that only 228,000 were minted compared to the combined millions from the other mints. It paints a clear picture why the CC coin holds a dear spot in every Morgan silver dollar aficionado’s collection.

Collector Fever

Further worsening the scarcity situation is Collector Fever. Once a coin attains an iconic status, collectors all over the world start hunting for it. These serious collectors don’t stop at just possessing the coin, they also seek high-grade examples. Once they’ve acquired it, it rarely comes back into the market. This essentially ‘locks up’ good quality coins and makes it even harder for others to find them, thus adding to the rarity.

The Condition Rarity

Now let’s focus on another rarity aspect, the condition rarity. Most surviving 1885 silver dollars have seen a fair share of circulation, carrying wear, scratches, or other forms of damage. Finding an example in uncirculated condition or even better, in pristine Mint State-65 or above, is an uphill task. This unavoidable lifecycle factor again makes the coin a rare treasure to locate.

Counterfeits and forgeries

Last, but certainly important, is the rise of counterfeits and forgeries. A surge in forgeries, especially from certain Asian countries, makes locating a genuine 1885 silver dollar more challenging. Modern scanning and forging techniques make these replicas look uncannily similar to the real deal, tricking even seasoned collectors. Thus, always buy from reputable dealers and get a second opinion if needed. This is not just true for 1885 silver dollars, but any rare or valuable coin.

The story of the 1885 silver dollar is steeped in historical decisions, production variables, and market dynamics. The interplay between these factors results in a coin desirable yet elusive. Be it the Pittman Act, low original mintage, collector fever, condition rarity, or the increase in counterfeits, these elements have contributed to a unique chapter in the world of numismatics.