Value of 1988 Silver Dollars: Factors That Influence Their Worth

The value of a 1988 silver dollar can vary widely based on its condition and whether it is a collectible item. In this article, we explore the different types of 1988 silver dollars, their current value, and the factors that influence their worth.

1988 Eisenhower Dollar

The 1988 Eisenhower Dollar is an example of a dollar coin that is not made of silver. Instead, it is composed of copper-nickel. The face value of this coin is $1, and it typically trades close to this value unless it is in uncirculated condition or has special appeal. In such cases, the value can increase significantly. Therefore, if you have an uncirculated 1988 Eisenhower Dollar, it may be worth more than its face value.

1988 American Silver Eagle

If you are referring to the 1988 American Silver Eagle, this coin contains one ounce of silver. The value of the coin is primarily based on the current price of silver, which can fluctuate. As of August 2023, silver prices were around $24 to $26 per ounce. Therefore, the silver content alone could make the coin worth $24 to $26. Additionally, the coin may have a premium due to its collectible value, bringing the total value to around $30 or more, depending on the demand.

Condition of the Coin

The condition of the coin can significantly affect its market value. Coins that are in better condition, such as circulated, uncirculated, or proof, can command higher prices. For example, a 1988 American Silver Eagle in uncirculated or proof condition can be worth significantly more than a circulated one. If you want an accurate and current valuation, it is best to consult a coin dealer or check recent auction results for similar coins.

Four Different Silver Dollars in 1988

In 1988, there were four different silver dollars, including the two Olympic dollars (both uncirculated and proof) and two Silver Eagle dollars (also uncirculated and proof). The Olympic dollars are worth around $25 and $30 each, depending on the condition. The Silver Eagle dollars are worth approximately $30 and $40 each, also depending on the condition.

Seoul Commemorative Coin

It seems that there was confusion regarding whether the 1988 Silver Eagle contains 90% silver. The 1988 American Silver Eagle does contain 90% silver and includes 0.7736 ounces of silver. The uncirculated and proof editions had different mintage numbers, with the uncirculated edition having a mintage of over 191,000 and the proof edition having a mintage of over 1.3 million.

David C. MacLean points out that no dollar coins were minted for general circulation in 1988. Therefore, any 1988 silver dollar that you have is likely to be a coin that you have collected or received as a gift. If your coin is not a commemorative coin and looks like the descriptions above, it could be quite valuable. It is recommended that you consult a local numismatist for personalized advice on the value of your coin. Good luck!