The latter half of the 1880s was a time of higher-than-usual production figures for Morgan Silver Dollars, and the 1886 Morgan Silver Dollar was no exception. With more than 30 million Morgan Dollars minted during that year alone, 1886 Morgan Dollars are among the most commonly seen in the market place today, even in light of the mass melting the series experienced under the Pittman Act of 1918.
The 1886 Morgan Silver Dollar was produced in three mints: New Orleans, Philadelphia, and San Francisco. The New Orleans Mint used an "O" and the San Francisco Mint an "S”. The main mint in Philadelphia did not use a mintmark. Proof examples of Morgan Dollars from all years, including 1886, are rare which makes them expensive.
1886 Morgan Silver Dollar Mintage Figures
- 1886: 19,963,000; $35+
- 1886-O: 10,710,000; $35+
- 1886-S: 750,000; $100+
- 1886 Proof: 886; $3,000+
Perhaps the first thing that jumps out at you about the list above is the absence of any Carson City mint issues. This was the case during most of the latter half of the 1880s, though as you will also notice the San Francisco Mint issue takes the semi-key date spot that Carson City Morgan Dollars usually own for most of years during which they were produced. Whether you are buying a single Morgan Dollar for inclusion in a type set or one of each date-and-mintmark combination for series set, always buy the best you can afford. Even the 1886 Morgan Silver Dollar issued by the Philadelphia Mint is no exception. With plenty of dollar coins from this year to go around, that gives collectors and investors the opportunity for great deals on high-end examples. Interestingly, the branch mint Morgan Dollar issues from 1886, while reasonably affordable in the lower grades, are highly expensive in the upper grades.