Home >> Collecting >> Coin Collecting

Grading Silver Dollars

Silver dollars were composed of pure silver until Congress enacted the Coinage Act of 1965, designed to diminish or eliminate the amount of silver in American coins. The final dollars made of 100 percent silver were the Morgan and Peace silver dollars, last minted in 1936. The American Numismatic Association created a scale by which to grade coins; published in 1978, the "Official ANA Grading Standards for United States Coins" established a definitive system that has standards for circulated as well as uncirculated, mint condition coins.

Things You'll Need

Silver dollar(s)
Magnifying glass
"The Official American Numismatic Association Grading Standards of United States Coins"

Instructions

How to Grade Silver Dollars
- 1
  Determine the type of silver dollar by noting the mint date and design of the coin. Images to look for include the "Lady Liberty" head with flowing hair or seated "Lady Liberty" in a flowing robe.
- 2
  Use the magnifying glass to examine the coin in detail.
- 3
  Determine if the coin is circulated or uncirculated. An uncirculated coin will be in mint condition, with no sign of wear. Very few silver dollars are uncirculated.
- 4
  Look for evidence of wear. Higher-grade silver dollars have clear details and few signs of wear. Hairlines and tiny lines or scratches, usually caused by cleaning, diminish the grade.
- 5
  Look at the mint luster, which is the shine on the coin. Higher-grade coins appear more satiny.
- 6
  Examine the relief, the part of the coin's design that is raised above the surface. On a higher-grade coin, the relief will stand out with sharp, clear edges.
- 7
  Consult "The Official American Numismatic Association Grading Standards of United States Coins" or other numismatic references or websites to help determine the grade.

Coin Collecting