How Much Is a George Washington Dollar Coin Worth?

The George Washington dollar coin is part of the United States Mint’s Presidential $1 Coin Program, which honored past U.S. presidents. These golden-colored coins entered circulation in 2007, with the George Washington dollar being the first in the series. While many hold face value, certain characteristics or conditions can significantly increase their worth to collectors. Understanding these elements helps assess a coin’s potential value.

Identifying Your George Washington Dollar Coin

Recognizing the specific features of your George Washington dollar coin is the initial step in determining its potential worth. The obverse, or front, of the coin prominently displays a large portrait of George Washington, along with “GEORGE WASHINGTON” and “1st PRESIDENT”. The reverse side features an image of the Statue of Liberty, accompanied by “UNITED STATES OF AMERICA” and the denomination “$1”.

All Presidential $1 Coins have edge lettering. This includes the date of minting, the mint mark (“P” for Philadelphia, “D” for Denver, or “S” for San Francisco), and the mottos “E PLURIBUS UNUM” and “IN GOD WE TRUST”. This lettering is found around the coin’s rim, rather than on its faces. These design elements confirm you have a Presidential Dollar, distinguishing it from other commemorative or older dollar coins.

Key Factors Determining Value

Several elements influence the market value of a George Washington dollar coin beyond its face value. The coin’s condition, known as its grade, plays a substantial role, as does the mint mark indicating its origin. Rare production errors or varieties can significantly increase a coin’s appeal and price among collectors.

A coin’s condition refers to its state of preservation and wear, which is a primary determinant of its value. Circulated coins with significant wear typically hold less value than those preserved in near-perfect states. Uncirculated coins, showing no signs of wear and retaining their original mint luster, generally command higher prices.

The presence of a mint mark, such as “P” for Philadelphia or “D” for Denver, indicates the facility where the coin was struck. While most circulating coins bear one of these marks, coins from the San Francisco Mint (“S” mark) were typically produced as proof coins for collectors and often carry a higher base value due to their limited mintage and specialized finish.

Errors and varieties represent deviations from the standard coin production process and can make a coin significantly more valuable. One notable error specific to the Presidential Dollar series is the “missing edge lettering” error. These coins were mistakenly struck without the required inscriptions on their edges, leading to them being colloquially known as “Godless dollars” due to the omission of “IN GOD WE TRUST” among other mottos. Such errors are rare and highly sought after by collectors, commanding prices far exceeding face value, sometimes hundreds of dollars depending on condition. Other less common errors, such as double dies or off-center strikes, can also enhance a coin’s value.

Assessing Your Coin’s Condition

Circulated coins show clear signs of wear, particularly on the raised areas of the design. You might observe flattening or loss of detail on George Washington’s hair, cheekbones, or the details of the Statue of Liberty’s torch and robes. The original luster, which gives a coin a slight sheen, will also likely be diminished or absent on circulated examples.

In contrast, uncirculated or “Mint State” coins exhibit no signs of wear, even under magnification. These coins retain their full original luster and sharp, crisp details across all design elements, appearing as if they just left the mint. Surfaces may show minor bag marks from contact with other coins during the minting process, but these do not constitute wear. Proof coins, primarily struck at the San Francisco Mint and bearing an “S” mint mark, are specially produced for collectors with a distinct mirrored field and frosted, raised design elements.

Avoid cleaning your coin, regardless of its apparent condition. Cleaning, even with seemingly gentle methods, can cause microscopic scratches or alter the coin’s surface, which significantly reduces its numismatic value. A coin in its original state is preferred by collectors over one that has been cleaned, as cleaning can permanently damage surfaces and destroy collector appeal.

Finding Current Market Values

Once you have identified your George Washington dollar coin and made a preliminary assessment of its condition, you can research current market values using reputable resources. Online pricing guides provided by professional coin grading services, such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Company), offer comprehensive price listings for various coin types and grades. These guides often provide estimated values based on recent auction results and dealer prices.

The “Red Book,” A Guide Book of United States Coins, is published annually and available in print and sometimes online. This widely recognized guide provides average retail prices for U.S. coins across different grades. For real-time market insights, examining sold listings on online auction platforms like eBay can provide a snapshot of what similar coins have recently sold for. Major numismatic auction houses, such as Heritage Auctions, also publish their past auction results, which can be useful for higher-value or rare examples.

Listed prices are estimates and can fluctuate based on market demand, the specific eye appeal of a coin, and the venue of sale. For coins suspected of being rare errors, or those in exceptionally high grades, seeking a professional appraisal from a qualified numismatist or submitting the coin to a third-party grading service for authentication and encapsulation is recommended. These services provide an expert, impartial assessment of the coin’s authenticity, grade, and market value.