The Dollar Coin That Is Worth Up To $100,000

If you are the superstitious type, you might think the only way to wealth and prosperity is by doing something like tossing a coin in a fountain and wishing for the money to fall in your lap. Before you do that, check to make sure your coin isn't actually already worth $100,000. Several rare dollar coins are actually worth thousands of dollars by today's standards, depending on how well it has been kept.

In fact, there are several ways to determine if you have a rare coin on your hands, including a Morgan Dollar. Rarity and condition are the biggest measurements for the overall worth of a rare coin, with Morgan Dollars being no exception. They are sought after by collectors for their bigger-than-average size, historical significance, and the high level of silver that goes into making one. But not all Morgan Dollars fetch a high value at auction — it takes a well-maintained 1895 Morgan Dollar to go for hundreds of thousands of dollars currently.

According to PCGS, the 1895 Morgan Dollar is typically referred to as the "King of Morgan Dollars" because it is so rare, which also makes it very valuable as well. The 1895 $1 (Proof) was originally minted in Philadelphia, composed of 90% Silver, 10% Copper, and finding genuine ones on the open market are hard to come by. That's because while it is on record that 12,000 Mint State business examples were originally struck, though to date none of the business strike coins have been found and in all likelihood, coin collectors believe the examples melted, never going into circulation.

That meant that only 880 Proofs were ever released of the 1895 Morgan Dollar and a few counterfeit coins, reported CoinWeek. One fake 1895 Morgan Dollar was even found to have 95% silver. Though real Morgans contain 5% less than the forged one, that much silver puts them in the same ranks as other American coins made from gold that are now worth a fortune. Authentic 1895 Morgan Dollars have sold for record breaking prices including a PR66 CAM that went for $120,000 and a PR67+ DCAM which was auctioned for a whopping $269,500.

As money becomes more digitized in the modern era, coins are becoming less and less common, with some like the penny under threat of being erased from circulation in the near future. This means that those coins still in existence can be worth more today than ever, though they can often be difficult to find and often these coins are considered trash instead of valuable.

Knowing the value of coins you might have lying around can be tricky, which is why it is best to get a professional authentication of worth by a trusted individual or organization. Many different variables are taken into account when undergoing a coin certification and grading process, including but not limited to receiving, grading, encapsulation, as well as shipping. If you think you have found a 1895 Morgan Dollar, the next best step would be to find a local authenticator in your area who is trusted and can let you know if your coin is worth a small fortune.