The Awaited ’86 Morgan Dollar Grade: My Numismatic Deep Dive

I recently spent some time examining photos of an 1886 Morgan silver dollar, and it turned into a fascinating exploration of grading nuances and collector insights. As a coin enthusiast, I love diving into the details of iconic pieces like this, and it reminded me why patience and keen observation are key in numismatics.

My Grading Assessment

After scrutinizing the images, I formed a clear opinion on this Morgan dollar. Here’s what stood out to me:

• A distinct mark on Lady Liberty’s jawline that catches the eye under magnification.
• A noticeable scratch across the eagle’s chest on the reverse, which adds to the wear.
• Subtle light rim toning that gives the coin a unique, appealing character.

Based on these features, I lean toward an MS64 grade. While the coin has great overall eye appeal, those minor hits hold it back from gem status in my view. It’s a solid piece, but not quite pristine enough for MS65.

Practical Grading Tips

Grading Morgan dollars can be tricky, and I’ve learned that even small imperfections matter. For instance, I once saw a PCGS-certified MS65 coin with a glaring gash in the field—it made me question how such flaws slip through. That experience taught me to always cross-check with my own standards. Here’s my advice:

• Focus on high-traffic areas like the jaw and eagle for marks; they’re common detractors.
• Use good lighting and magnification to spot subtle scratches—they can drop a grade by a point or more.
• Remember that toning, like the rim effect here, often adds desirability and can justify a premium, even if the grade isn’t top-tier.

For this ’86 Morgan, I’d say it’s likely MS64, possibly MS63 if the flaws are more pronounced in hand.

Market Insights and Toning Appeal

Light rim toning isn’t just cosmetic—it’s a market driver. Coins with this feature can fetch 10-20% premiums from collectors who chase aesthetic beauty. In today’s market, Morgans with attractive toning are hot commodities, especially in mid-grades like MS64. It’s a reminder that eye appeal often trumps technical perfection, making pieces like this highly sought after.

The Waiting Game in Collecting

Anticipating a grade reveal can feel like an eternity, as I’ve felt with this coin. But in numismatics, patience is part of the thrill. Whether you’re waiting for certification or hunting for the next treasure, it builds excitement and sharpens your skills. My take? Trust your grading instincts, enjoy the journey, and remember that every coin tells a story. Happy collecting—may your finds be as rewarding as this ’86 Morgan!