1886 US Coins: Values & Mintages

US coinage in 1886

The Indian Head cent portrait was adjusted partway through 1886, creating the Type 1 and Type 2 varieties, told apart by where the last feather of the headdress points.

How many coins were made in 1886

Counting the circulation issues on this page, US mints struck 59,001,498 coins dated 1886 across 10 issues. That is 32% more than in 1885 (44,541,227). In 1887 the figure rose to 109,858,354.

By mint: Philadelphia 47,334,974 (80%, up from 33,587,537), New Orleans 10,710,000 (18%, up from 9,185,000) and San Francisco 956,524 (1.6%, down from 1,540,690).

Those coins held about 24,783,072 troy ounces of pure silver and 242 troy ounces of gold.

1886 coins by denomination

Cents: 17,650,000 struck in 1 circulation issue of the Indian Head Cent, up 50% on 1885.

Nickels: 3,330,290 struck in 1 circulation issue of the Liberty Head "V" Nickel, up 126% on 1885.

Dimes: 6,583,208 struck in 2 circulation issues of the Seated Liberty Dime, up 156% on 1885. The scarcest is the 1886-S (206,524) and the most plentiful the 1886 (6,376,684).

Quarters: 5,000 struck in 1 circulation issue of the Seated Liberty Quarter, down 63% on 1885.

Half Dollars: 5,000 struck in 1 circulation issue of the Seated Liberty Half Dollar, down 3.8% on 1885.

Dollar Coins: 31,423,000 struck in 3 circulation issues of the Morgan Silver Dollar, up 9.5% on 1885. The scarcest is the 1886-S (750,000) and the most plentiful the 1886 (19,963,000).

Gold Coins: 5,000 struck in 1 circulation issue of the Gold Dollar, down 55% on 1885.

Every 1886 circulation issue at a glance

• 1886 Seated Liberty Quarter: 5,000 struck, 2nd lowest of 108 in the series, down from 13,600 in 1885.
• 1886 Seated Liberty Half Dollar: 5,000 struck, 6th lowest of 116 in the series, similar to 1885.
• 1886 Gold Dollar: 5,000 struck, 19th lowest of 75 in the series, down from 11,156 in 1885.
• 1886-S Seated Liberty Dime: 206,524 struck, 34th lowest of 116 in the series, up from 43,690 in 1885.
• 1886-S Morgan Silver Dollar: 750,000 struck, 16th lowest of 96 in the series, down from 1,497,000 in 1885.
• 1886 Liberty Head "V" Nickel: 3,330,290 struck, 4th lowest of 34 in the series, up from 1,476,490 in 1885.
• 1886 Seated Liberty Dime: 6,376,684 struck, more than 89% of the series' 116 issues, up from 2,532,497 in 1885.
• 1886-O Morgan Silver Dollar: 10,710,000 struck, more than 78% of the series' 96 issues, similar to 1885.
• 1886 Indian Head Cent: 17,650,000 struck, 22nd lowest of 54 in the series, up from 11,761,594 in 1885.
• 1886 Morgan Silver Dollar: 19,963,000 struck, more than 95% of the series' 96 issues, similar to 1885.

Indian Head Cent: Recovery and the 1886 portrait change

Production rebounded in 1879 as the surplus cleared and the economy recovered, rising from 16 million that year to about 39 million in 1880 and 1881. Proof mintages climbed into the thousands as collecting grew. After a dip in 1885, output passed 45 million in 1887 and 57 million in 1890, the largest yet.

The key variety of this era is the 1886. Early in the year the obverse hub was changed: on Type 1 coins the last feather of the headdress points between the I and C of AMERICA, while on Type 2 coins it points between the C and A. Type 2 is scarcer. The 1888/7 overdate is a major rarity. Bronze from this period often survives with attractive red and brown color. The higher mintages make most dates easy to find in Extremely Fine and better.

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Liberty Head "V" Nickel: No CENTS, racketeers and two low mintage keys

Charles Barber's Liberty Head nickel replaced the Shield design in 1883. The first reverse showed only a Roman numeral V with no word CENTS. Some people gold plated these coins and passed them as five dollar gold pieces, earning them the name racketeer nickels. Within a few months the Mint added CENTS below the wreath and moved E PLURIBUS UNUM above it.

Many No CENTS nickels were saved as novelties, so they are common in high grades, while 16 million With CENTS coins followed. Output fell sharply in 1885 and 1886 as demand weakened, with only 1.5 million in 1885 and 3.3 million in 1886, making them the key dates of the series. Both are usually found worn to Good or Very Good. Gold plated 1883 No CENTS nickels are period novelties rather than Mint errors.

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Seated Liberty Quarter: Small mintages in the final years

By 1879 the country had more quarters than commerce needed. The Mint was also busy with silver dollars under the Bland-Allison Act. Philadelphia struck only 13,600 business strikes in 1879 and just 5,000 in 1886, the low point. Collectors and speculators saved many of these coins, so survivors are often uncirculated and frequently prooflike.

San Francisco struck 1,216,000 in 1888, the only branch mint quarter of the 1880s. In 1891 production surged again at Philadelphia, San Francisco and New Orleans. The 1891-O, with 68,000 struck, was the first New Orleans quarter since 1860 and is scarce. Philadelphia made several hundred to more than a thousand proofs every year of the period. For several dates the proofs are easier to locate than business strikes of the same year.

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Seated Liberty Half Dollar: Tiny mintages in the final years

From 1879 to 1890 Philadelphia struck business strike halves in very small numbers, roughly 4,400 to 12,000 a year, while silver dollars absorbed most of the bullion. Branch mints made no halves at all in these years. Proofs were struck every year alongside the business strikes and survive in comparable numbers.

Collectors and dealers saved many of these coins when new, so they survive in uncirculated grades more often than mintages suggest. Many business strikes are prooflike, which can make them hard to tell from proofs without close study of the rims and devices. In 1891, the final year, Philadelphia struck about 200,000. That date is the most available of the period in circulated grades. Charles Barber's design replaced Seated Liberty in 1892.

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Morgan Silver Dollar: Sherman Act years and the early keys

Philadelphia struck about 20 million dollars a year in the late 1880s, but some branch mint dates were small. The 1889-CC, at 350,000, is a key. San Francisco's 1886-S, 1888-S and 1889-S all fell below one million. The Sherman Silver Purchase Act of 1890 replaced Bland-Allison with larger silver purchases, though dollar coinage fell once the act stopped requiring it in 1891. Much of the bullion was paid for with Treasury notes rather than coined at once.

Mintages dropped sharply in 1892 and 1893. The 1893-S, with only 100,000 struck, is the key business strike of the series and a common target for altered mint marks and counterfeits. The 1892-S is plentiful in worn grades but rare uncirculated. Carson City stopped coining after 1893, making the 1893-CC its last dollar. The 1893 Philadelphia run of 378,000 is scarce as well.

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Gold Dollar: Hoarded final decade

Gold dollars of the 1880s were struck only at Philadelphia in small numbers, from 1,600 in 1880 to 28,950 in 1889. Speculators, jewelers and gift buyers took many of them. A large share therefore survives in uncirculated condition, often with prooflike surfaces that can be mistaken for proofs.

Proof production jumped to more than 1,000 a year from 1884, a sign of how popular the little coins had become with collectors. The Act of September 26, 1890 ended the gold dollar along with the three dollar gold piece and the three-cent nickel, so 1889 was the final year. Late dates are the easiest gold dollars to find in high grade, although they still carry a premium over their gold content. Look for signs of jewelry mounting on the rim before buying.

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Seated Liberty Dime: San Francisco returns and the final Seated dimes

San Francisco struck dimes again in 1884, with 564,969 made. Its 1885-S run was just 43,690, the key of the 1880s and a coin that is rare in every grade. The 1886-S, at 206,524, is also scarce. An S added to a common Philadelphia coin is the main trick to watch for on both dates. From 1887 on San Francisco produced far more, with 4,454,450 in 1887 and between 972,678 and 3,196,116 a year after that. Collectors list two sizes of S on the 1890-S.

Philadelphia's mintages climbed unevenly, from 2,532,497 in 1885 to 11,283,229 in 1887 and 9,910,951 in 1890. In 1891 it struck 15,310,000, the largest dime mintage of the series. New Orleans returned that year after more than thirty years with 4,540,000. Some 1891-O dimes show an O punched over an earlier O that was placed on its side.

Charles Barber's new design replaced the Seated dime in 1892, ending a run of fifty five years. The late Philadelphia dates are common and good choices for a type set in higher grades. The 1891 is among the easiest Seated dimes to find in uncirculated condition. Proof production stayed between 590 and 930 a year from 1884 to 1891. If you have an S dime from 1885 or 1886, though, read the date and mint mark carefully, since both are worth having checked by an expert.

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