1. Condition: The condition of a coin is one of the most important factors that determine its value. Coins that are in mint condition (meaning they have no visible wear) are worth more than coins that have been circulated or damaged.
2. Rarity: The rarity of a coin also plays a role in its value. Some dates and mint marks of Morgan Dollars are rarer than others, and therefore more valuable. The 1886 Morgan Dollar is relatively common, so it is not as valuable as some other dates.
3. Mint mark: Morgan Dollars were minted at three different mints: Philadelphia, San Francisco, and New Orleans. The mint mark on a coin can affect its value, as some mint marks are rarer than others. The 1886 Morgan Dollar was minted at the Philadelphia Mint, which is the most common mint mark.
4. Grade: Coins are graded on a scale from 1 to 70, with 70 being the highest grade. The grade of a coin is based on its condition, including factors such as wear, scratches, and other damage. Coins with higher grades are worth more than coins with lower grades.
In general, the value of an 1886 Morgan Dollar in mint condition can range from around $25 to $50. However, some rare dates and mint marks of the 1886 Morgan Dollar can sell for much higher prices, especially if they are in high grades. It is always a good idea to have a coin professionally appraised to determine its exact value.