Morgan Silver Dollars

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Morgan Silver Dollar

The Morgan silver dollar is one of the most known and highly collected US coins of all time. Morgan silver dollars were minted in 90% silver from 1878-1904 and 1921, then once more – in 99.9% pure silver – in 2021 and 2023. Get Your Morgan silver dollars for sale from a source you can trust - Bullion Shark offers a large variety of these popular coins, both vintage and modern

When silver was discovered in the legendary Comstock Lode in Nevada, Congress passed the Bland-Allison Act of 1878. This legislation authorized the U.S. Treasury to buy significant amounts of this precious metal. As a result, Morgan Silver Dollars were made from .900 fine silver. Interestingly, Peace Silver Dollars had the same silver content and weight. Six hundred fifty-seven million Morgan Dollars were struck in 96 different date and mint combinations over the 27 years of production from 1878 to 1904 and 1921.

At Bullion Shark, you can buy Morgan silver dollars with confidence. We inspect every item to ensure it meets our strict quality standards. Browse our selection of vintage silver dollar coins  to add a special piece of American history to your collection.

Morgan Silver Dollar - One of The Most Collected Classic Coins

The original Morgan silver dollars were minted in quantities that far exceeded their need for commerce or the coins needed to back up all the paper silver certificates that were being issued at the time. Because of this situation, large quantities of these beautiful coins piled up in Treasury vaults for decades until the early 1960s when millions of $1,000 bags of pristine uncirculated coins were released to the public over a series of years. Some dates like 1903-O that used to be rare suddenly became much more plentiful.

That massive release, along with the sale in the 1970s of the Carson City Mint Morgans that had been found among those millions of coins in bags were sold by the General Services Administration, helped to spur the high level of interest in the coins that continues to exist today. Those Carson City coins also remain among the most popular coins of the Morgan dollar series.

Who Designed the Morgan Silver Dollar?

George T. Morgan designed one of the most famous coins in American history. In 1876, America’s silver dollar coinage was long overdue for a facelift, and Morgan was up to the task as the new assistant engraver at the Philadelphia Mint.

He had previous experience as a contract engraver at the Royal Mint in London before being recruited to the U.S. Mint by Director Henry Linderman. Morgan knew Linderman wanted the head of Liberty to be featured on the new silver dollar coin and set about to create the perfect design. 

By early 1877, George T. Morgan had created a new design that would later be known as the Morgan Dollar. This coin featured Lady Liberty in profile (sporting a laurel in her hair) on the obverse. The reverse featured an eagle, an olive branch, and the words “One Dollar.” 

The image of the eagle features a beloved mistake — the original version showed eight tail feathers. However, later versions were amended to feature the more accurate seven tail feathers.

Morgan would later become the Chief Engraver at the U.S. Mint. 

Morgan Silver Dollar Value - Rare Morgan Silver Dollars

Rare Morgan Silver Dollars are highly sought after by collectors due to their historical significance, beauty, and scarcity. Here's a list of some of the rarest Morgan Silver Dollars and their approximate values, based on their condition (grades). Keep in mind that coin values fluctuate based on market conditions, and the prices listed are estimates for coins in uncirculated condition (MS-60 to MS-65) as of my last update in April 2023.

  1. 1893-S: The 1893-S Morgan Silver Dollar is considered the rarest and most valuable in the series, with a mintage of only 100,000. Its value ranges from approximately $20,000 in lower uncirculated grades to over $300,000 for higher grades.

  2. 1889-CC: The Carson City mint produced fewer coins than other mints, making the 1889-CC especially rare. Values range from around $1,800 in lower uncirculated grades to over $280,000 in higher grades.

  3. 1893-O: This New Orleans minted coin is another rare find, with values ranging from about $3,500 in lower uncirculated grades to over $150,000 in higher grades.

  4. 1895 (Proof): Known as the "King of the Morgan Dollars," the 1895 Morgan is primarily known in proof condition with a mintage of 880. It's estimated to be worth from $40,000 to over $70,000, depending on the grade. Note that the 1895 circulation strike is exceedingly rare, with none confirmed to exist, making the proof version highly prized.

  5. 1892-S: With a relatively low mintage, the 1892-S is rare in high grades. Its value can range from about $1,000 in lower uncirculated grades to over $100,000 in higher grades.

  6. 1884-S: While not rare in circulated conditions, the 1884-S is exceedingly rare in higher uncirculated grades. Values range from around $250 in MS-60 to over $100,000 in MS-65.

  7. 1894: With a low mintage of 110,000, the 1894 Philadelphia issue is rare in all grades. Values range from about $1,000 in lower uncirculated grades to over $40,000 in higher grades.

  8. 1895-O: This New Orleans minted coin is rare and valuable, especially in higher grades. Values range from about $1,200 in lower uncirculated grades to over $100,000 in higher grades.

  9. 1901: The 1901 Philadelphia issue is common in circulated grades but rare and valuable in uncirculated condition. Values range from about $500 in lower uncirculated grades to over $40,000 in higher grades.

  10. 1886-O: Like the 1901, the 1886-O is more common in circulated conditions but rare in higher uncirculated grades. Values range from about $250 in MS-60 to over $100,000 in MS-65.

Where Was the Morgan Dollar Minted?

This silver coin was minted in a variety of locations, including: 

• Carson City Mint, Nevada
• Denver Mint, Colorado
• San Francisco Mint, California
• Philadelphia, Pennsylvania
• New Orleans, Louisiana

For example, the CC Morgan Silver Dollar was made in Carson City. The rarest business strike version is the 1893-S Morgan Dollar Coin, made at the San Francisco Mint. 

Despite being worth one U.S. dollar at the time, Morgan Silver Dollars far exceed that, especially if they have earned an Uncirculated grade. 

Identifying the mint mark can help numismatists determine how much the coin is worth. However, for a more complete picture of worth, consult a grading agency like PCGS or the NGC.

2023 Morgan Silver Dollar

In July 2022, the Mint began accepting subscription orders for its 2023 silver dollar program, which includes proof versions limited to 400,000 coins plus uncirculated examples that are like the 2021 coins which have a mintage limit of 275,000. Finally, a special Reverse Proof set will be issued too that will be limited to 250,000 sets (along with a Peace dollar in the same finish).

The uncirculated coins were released on July 13 by which time most of the coins had already been sold via subscriptions. The remaining coins sold out in less than an hour. By July 23 over 99% of the maximum mintage for those coins had been sold.

The proof coins were launched on August 10. With a much higher mintage than the uncirculated coins, the proofs have not yet sold out.

The 2023 Reverse Proof Set will be issued during the fall.

The new Morgan silver dollars have helped stimulate even more widespread interest in these coins, which has been reflected in the hotter than usual market for the coins during the current boom the coin market is experiencing. And that has meant stronger prices for many of the original Morgan dollars from common to more scarce dates.

Our Morgan Silver Dollar Listings

At Bullion Shark, we live and breathe coin collecting, including the Morgan Silver Dollar.

 From classic commemorative coins to silver bullion, we know all things that come from the United States mint. Outside of U.S. coins, we offer an array of ancient, shipwrecked, and other world coins. 

Discover a new piece to add to your collection today. 

Morgan Silver Dollar Coins FAQs

The Morgan dollar was minted from 1878 to 1904 and then again in 1921. So, the years when Morgan dollars were not minted are: 1905 to 1920. It's worth noting that the Morgan dollar was reintroduced in 1921 for just that year before being replaced by the Peace dollar later in 1921.
The 1893-S Morgan dollar holds the distinction of being the lowest mintage business strike Morgan dollar. Only 100,000 of these coins were minted, making it one of the most sought-after and valuable Morgan dollars among collectors. Due to its rarity, especially in higher grades, the 1893-S Morgan dollar commands a significant premium in the numismatic market.
The 1895 Morgan dollar with the "P" mintmark (indicating the Philadelphia Mint) is known as the "proof only" year. This means that only proof specimens of the 1895 Morgan dollar were produced by the Philadelphia Mint, and no business strike coins were minted for general circulation that year. The mintage for the 1895 proof Morgan dollar is reported to be only 880 coins, making it one of the rarest and most sought-after dates in the Morgan dollar series.
The Morgan dollar was designed by George T. Morgan, a British engraver who worked at the U.S. Mint. The coin is named after him. Morgan's design features a profile portrait of Lady Liberty on the obverse and an eagle with outstretched wings on the reverse. The model for Lady Liberty is believed to have been Anna Willess Williams, a teacher and Philadelphia resident.

The Morgan dollar was minted at five different U.S. Mint facilities. Here are the mints and their respective mintmarks:

P (or no mintmark) - Philadelphia Mint D - Denver Mint (However, it's worth noting that the Denver Mint did not produce Morgan dollars. The "D" mintmark is associated with other coin series.) S - San Francisco Mint O - New Orleans Mint CC - Carson City Mint

Of these, the Carson City (CC) minted Morgan dollars are particularly popular among collectors due to their lower mintages and the historical allure of the Carson City Mint.

The only year a Morgan dollar was struck with the "D" mintmark, indicating the Denver Mint, was in 1921. This was also the final year of the Morgan dollar's production before it was replaced by the Peace dollar. The 1921-D Morgan dollar is the sole instance of this coin being produced at the Denver Mint.
The Morgan dollar, often referred to as the "Morgan silver dollar," is composed of 90% silver and 10% copper. This 90% silver composition was standard for most U.S. silver coins during that era. The Morgan dollar contains a total silver weight of 0.77344 troy ounces (or approximately 24.057 grams) of pure silver.
The Morgan Dollar contains 90% silver and 10% copper. Given its total weight of 26.73 grams (or approximately 0.859 troy ounces), the actual silver content (or net pure silver weight) in each Morgan Dollar is approximately 24.057 grams or 0.77344 troy ounces of pure silver.
Morgan Silver Dollar always hold an above spot value. They often are valued more than double of the silver content, expecially if cary a rare mintmark. The 1893-S is the single rarest Morgan Dollar made for circulation. The finest known examples have sold for over $1,000,000! Be careful of fakes as they are plentiful!

The Morgan Silver Dollar coin weighs 26.73 grams (. 859 troy ounces) and contains 0.77344 troy ounces of silver.