The worth of a specific United States coin, minted in New Orleans in 1879 and composed of silver, is influenced by several factors. These include its condition (graded on a scale from Poor to Mint State), the prevailing price of silver, market demand among collectors, and rarity (determined by mintage figures and survival rates). For example, a circulated specimen with significant wear will generally command a lower price than an uncirculated example exhibiting original luster and minimal imperfections.
This particular coin holds significance due to its historical context within the era of silver coinage in the United States. Its bullion value is intrinsically tied to the silver market, while its numismatic appreciation stems from its collectibility. Scarcity due to melting or attrition over time can significantly increase its desirability and consequently, its monetary worth. Furthermore, the “O” mintmark signifies its origin in New Orleans, which can further influence its desirability among collectors specializing in coins from that specific mint.