This Silver Dollar May Be Worth Thousands of Times Its Face Value—Here's How to Tell

COINS can be worth thousands of times their face value if they possess a few desirable characteristics. This is the case for a silver dollar coin, which is up for auction now with the current highest bid at an astounding $135,000.

A silver dollar coin is currently up for auction, with the highest bid currently sitting at an astounding $135,000.

But while this may seem like an astronomical sum for a $1 coin, there are a few key details that make this coin incredibly valuable to collectors.

The coin in question is an 1895 Morgan Dollar, and it’s being sold by Heritage Auctions.

The auction is set to end in 13 days, so there’s still time for the coin’s value to climb even higher.

So, what makes this coin worth so much?

It all comes down to a critical strike detail.

The silver dollar coin is a proof coin, which means it was struck specifically for collectors.

As a result, it boasts a greater detail and a more reflective surface than regular circulation coins.

To create a proof coin, special dies and polished blanks are used, and the coin is typically struck multiple times to create a highly detailed image.

In the case of the 1895 Morgan Dollar, this process has created a strong contrast between the frosted Lady Liberty face on the obverse and the shiny background.

Only 880 proof versions of the 1895 Morgan Dollar were produced, and no authenticated circulation strikes have been found, making it highly rare.

A few other details on the 1895 coin contribute to its value.

The silver dollar is graded at 67 on the Sheldon scale for proof coins, which ranges from one to 70.

This means the coin is in near-flawless condition.

Additionally, the coin's proof strike is particularly pronounced, as the coin is labeled as having a "Deep Cameo" effect.

This deep effect occurs when the coin's frosted and mirrored visual elements are highly contrasted.

The silver dollar is also classified as being an "Enigmatic Series Key," which refers to the coin's strike date.

Morgan Dollars were minted from 1878 to 1904 and again in 1921.

The Morgan Dollar for auction was produced in 1895, which is considered a key date in the series and one of the rarest.

Other coins are considered highly desirable by collectors thanks to a few key details.

A "red" detail on the front of a Lincoln penny could make it worth $20,000.

Plus, a specific design on the back of your dime could make it worth $218,500.