This particular United States coin, minted in 1897 at the New Orleans Mint (indicated by the “O” mint mark), represents a Morgan Silver Dollar. It contains approximately 0.77344 troy ounces of pure silver. Its face value is one dollar, but due to its silver content, historical significance, and condition, its actual value significantly exceeds that amount. Collectors often seek out examples in various grades of preservation.
The historical significance lies in its era of production and the economic conditions surrounding silver coinage at the time. The Bland-Allison Act of 1878 and the Sherman Silver Purchase Act of 1890 mandated the government to purchase large quantities of silver, leading to the mass production of these silver dollars. The “O” mint mark indicates a specific production location, influencing the coin’s rarity and desirability. Its value is often determined by factors such as mintage figures, survival rates, and the presence of errors.
