The George Washington dollar coin is part of the U.S. Presidential Dollar series, which began in 2007. This coin is important to collectors because it honors George Washington, the first president of the United States. While its face value is $1, its market value can vary based on several factors. In this article, we’ll look at what affects the value of the George Washington dollar coin and how much it is worth today.
A Brief History of the George Washington Dollar Coin
The Presidential $1 Coin Program started in 2007 to honor each U.S. president with a coin. The first coin in this series featured George Washington, released on February 15, 2007. This release generated excitement because of Washington’s important role in American history.
Details | Information |
---|---|
Release Date | February 15, 2007 |
Front Design | Portrait of George Washington |
Back Design | Statue of Liberty |
Inscriptions | “In God We Trust” on the edge |
Factors That Affect the Value of a George Washington Dollar Coin
Several factors determine how much a George Washington dollar coin is worth:
Coin Condition
The condition of the coin is one of the most important factors in its value. Coins are graded on a scale from 1 to 70, with 70 being perfect. Here’s how different conditions can affect the value:
Condition Type | Grade Range | Value Range |
---|---|---|
Uncirculated Coins | MS65 and above | $2 to $30 |
Circulated Coins | Below MS65 | $1 to $1.25 |
- Uncirculated Coins: These have never been used and are in excellent condition, making them more valuable.
- Circulated Coins: These have been used and show signs of wear, reducing their value.
Mint Marks
The mint mark indicates where the coin was produced, which can also influence its value:
Mint Mark | Mint Location | Value |
---|---|---|
P | Philadelphia Mint | Commonly circulated |
D | Denver Mint | Commonly circulated |
S | San Francisco Mint | Usually for collectors |
Coins from the San Francisco Mint (marked “S”) are often more valuable than those from the Philadelphia and Denver Mints.
Proof Coins
Proof coins are specially made for collectors. They are polished and have a shiny finish, making them more valuable than regular coins. Here’s what you can expect:
Proof Type | Value Range |
---|---|
Standard Proof | $5 to $10 or more |
Minting Errors
Coins with minting errors can be worth a lot more. Some common errors include:
Error Type | Value Range |
---|---|
Missing Edge Lettering | $100 to $500 or more |
Double-Strikes | $100 to $500 or more |
Collectors love these error coins because they are rare and unique.
How Much Is a George Washington Dollar Coin Worth?
While the face value of a George Washington dollar coin is $1, its actual worth can vary widely:
Coin Type | Value Range |
---|---|
Circulated Coins | $1 to $1.25 |
Uncirculated Coins | $2 to $30 |
Proof Coins | $5 to $10 or more |
Error Coins | $100 to $500 or more |
Circulated George Washington Dollar Coins
Circulated coins that show wear generally don’t sell for much more than their face value. You can often find these coins in pocket change or buy them cheaply from coin dealers.
Uncirculated George Washington Dollar Coins
These coins are worth more, especially those with a high grade (MS65 or higher). You might pay between $2 and $5, with some coins going for even more based on their quality.
Proof George Washington Dollar Coins
Proof coins are more valuable due to their unique production process. Depending on their condition, these coins can sell for $5 to $10 or more.
Error Coins
For collectors, error coins can be the most valuable. A coin with a missing edge lettering or double-strike can sell for hundreds of dollars, with prices varying based on the rarity of the error.
Collecting Tips for the George Washington Dollar Coin
If you’re interested in collecting George Washington dollar coins, consider these tips:
Look for High-Grade Coins
When collecting, aim for coins in the best condition possible. Uncirculated and proof coins usually hold more value over time than circulated ones.
Check for Errors
Inspect each coin for minting errors, as they can be worth a lot more. Look for signs of missing edge lettering, double-strikes, or other unique features.
Complete the Set
Many collectors aim to complete the entire Presidential $1 coin series. Having all the coins, especially in uncirculated or proof condition, can boost the value of your collection.
Buy from Reputable Sources
When buying coins, always choose trustworthy dealers or buy directly from the U.S. Mint. Be cautious with online marketplaces to avoid counterfeit coins.
Conclusion: Is the George Washington Dollar Coin a Good Investment?
The George Washington dollar coin may not be worth a fortune, but it has significant value in U.S. numismatic history as the first coin in the Presidential $1 Coin Program. For casual collectors, it can be an enjoyable and affordable addition to a collection. Higher-grade, proof, or error coins offer the potential for more significant value.
Ultimately, whether you’re collecting for fun or as an investment, understanding the factors that affect the value of these coins can help you make the most of your collection.
FAQs
What is the current value of a George Washington dollar coin?
The value of a George Washington dollar coin typically ranges from $1 for circulated coins to $30 or more for uncirculated coins.
How can I tell if my George Washington dollar coin is uncirculated?
An uncirculated coin will show no signs of wear or scratches and will retain its original shine.
What are mint marks, and how do they affect the value of the coin?
Mint marks indicate where the coin was produced.
Are there any valuable minting errors to look for in George Washington dollar coins?
Yes, coins with minting errors, such as missing edge lettering or double-strikes, can be significantly more valuable.