If you’re a coin collector or have inherited a collection, you might possess a hidden gem: the 1984-S $1 Olympic Silver Dollar. This commemorative coin, minted to celebrate the XXIII Olympiad held in Los Angeles, has garnered significant interest among numismatists. In certain conditions, it has fetched prices exceeding $8,000. Let’s delve into the details of this coin, its history, and what factors contribute to its high value.
Historical Background
The 1984 Summer Olympics marked a significant event in Los Angeles, prompting the U.S. Mint to issue commemorative coins. The 1984-S $1 Olympic Silver Dollar was part of this initiative, featuring the entrance of the Los Angeles Memorial Coliseum on its obverse and a perched American eagle on the reverse. Designed by sculptor Robert Graham, this coin holds both historical and artistic significance.
Mintage and Specifications
Understanding the coin’s specifications is crucial for collectors:
| Specification | Details |
|---|---|
| Mint Mark | S (San Francisco) |
| Composition | 90% Silver, 10% Copper |
| Weight | 26.73 grams |
| Diameter | 38.1 mm |
| Mintage | 1,801,210 (Proof), 116,675 (Uncirculated) |
The proof versions, known for their mirror-like finish, were minted in higher quantities compared to the uncirculated versions.
Factors Influencing Value
Several factors determine the coin’s market value:
- Condition (Grade): Coins are graded on a scale from 1 to 70. A coin graded PR70DCAM (Proof 70 Deep Cameo) represents a perfect proof coin with deep cameo contrast. Such coins are rare and highly sought after.
- Rarity: While the overall mintage was substantial, coins in perfect condition are scarce. The rarity of high-grade specimens significantly boosts their value.
- Market Demand: The numismatic market’s dynamics, including collector interest and economic factors, influence the coin’s price.
Notable Sales
Historical auction records highlight the coin’s potential value:
- In April 2013, a 1984-S $1 Olympic Silver Dollar graded MS70 (Mint State 70) sold for $9,400 at a Heritage Auctions event.
- In March 2005, a PR69DCAM (Proof 69 Deep Cameo) example fetched $2,990.
These figures underscore the coin’s potential worth, especially in pristine condition.
Assessing Your Coin
If you own this coin, consider the following steps to determine its value:
- Professional Grading: Submit your coin to a reputable grading service like PCGS or NGC. A professional grade provides an accurate assessment of its condition.
- Market Research: Review recent auction results and dealer listings to gauge current market trends.
- Consult Experts: Engage with numismatic experts or dealers for personalized insights.
Conclusion
The 1984-S $1 Olympic Silver Dollar is more than a piece of history; it’s a potential treasure for collectors. Coins in exceptional condition have achieved remarkable prices, sometimes exceeding $8,000. If you possess this coin, a thorough evaluation could reveal its true worth.
What makes the 1984-S $1 Olympic Coin valuable?
Its value stems from a combination of factors: historical significance, limited mintage, and the rarity of high-grade specimens.
How can I determine the grade of my coin?
Submitting your coin to professional grading services like PCGS or NGC will provide an official grade, essential for assessing its market value.
Where can I sell my 1984-S $1 Olympic Coin?
You can sell through reputable coin dealers, auction houses, or online platforms specializing in numismatic items. Ensure you research and choose a trustworthy venue to achieve a fair price.
