The Morgan Silver Dollar was one of the most popular silver dollars of its time and, still to this day, is extremely popular amongst collectors. With its elegant design that includes a side portrait of Anna Willess Williams, a woman of Philadelphia and a reverse design that was inspired by the bald eagle, the Morgan Silver Dollar is known to have one of the most iconic designs of any U.S. coin. It had U.S. citizens jumping at the chance to claim one of these beauties! It was designed by George T. Morgan, hence why the coin was named the Morgan Silver Dollar. He arrived in Philadelphia on October 9, 1876 to begin designing the silver coin.
Composition and Minting
Each Morgan Silver Dollar contains 90% silver and 10% copper, weighing in at 26.73 grams with a diameter of 38.1 mm. This alloy composition, also known as coin silver, gives it both value and durability. The coins were initially minted at several U.S. Mint locations—Philadelphia, Carson City, New Orleans, and San Francisco—with a final production at the Denver Mint exclusively in 1921. Philadelphia, the nation’s primary mint, first struck the Morgan Dollar on March 11, 1878, and mints across the country continued production until silver dollar minting was halted in 1904 due to declining demand. When silver was re-authorized for coinage in 1921, a final run of Morgan Dollars was minted before the coin was replaced by the Peace Dollar later that year.
Morgan Silver Dollar Value and Collectibility
The Morgan Silver Dollar's value varies significantly, depending on the year, mint mark, condition, and rarity. Some coins are relatively affordable, starting at around $50, making them accessible to new collectors. However, certain key dates and mint marks can drive the value of these coins well into six or even seven figures, especially in high-grade, uncirculated conditions. For example:
- 1893-S Morgan Dollar: Known as the rarest and most valuable Morgan Dollar, particularly in uncirculated condition. Even lower-grade versions can reach five figures, while uncirculated examples command six figures or more.
- 1889-CC Morgan Dollar: Minted in Carson City, this coin is rare due to its limited mintage and popularity among collectors.
- 1884-S Morgan Dollar: Scarce in high grades, making it one of the more challenging coins to find in pristine condition.
Collectors often pursue Morgan Dollars based on their personal preferences and budget. Some prefer to build a set by obtaining each mint mark for a particular year, while others focus on high-grade or rare-date coins for investment. Bulk Morgan Silver Dollars, which can be found at more affordable prices, are popular with collectors who value the historical significance of owning multiple examples of this classic coin.
The Morgan Silver dollar was minted from 1878-1904 and, again in 1921. There were millions of these coins produced each year at a variety of mints. It is composed of 90% silver and 10% copper. The Philadelphia mint started producing the Morgan dollar on March 11th 1878. It was originally minted in Philadelphia, then in Carson City, New Orleans, San Francisco, and Denver. It was only minted in Denver for the 1921 edition, this was because the Denver mint was only established in 1906.
Today, the Morgan Silver Dollar is one of the most collected of all U.S. rare coins since there is a coin for collectors of all budgets. Nice coins exist from $50 to millions of dollars.
Some key dates in the Morgan Silver Dollar include the 1893-S Morgan Silver Dollar, 1889-CC Morgan Silver Dollar and 1884-S Morgan Silver Dollar. Some of these silver coins can run you six figures or more in high grade. Many collectors opt to buy bulk of cheaper Morgan Dollars than buy just one expensive coin.
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Morgan Silver Dollar Mintages and Values
| Date | Mintage | Good | Very fine | Extremely Fine | Uncirculated | ||
| 1878 Morgan Silver Dollar (8 Feathers) | 749,500 | N/A | $85.00 | $100.00 | $105.00 | ||
| 1878 Morgan Silver Dollar (7 Feathers) | 9,759,300 | N/A | $50.00 | $55.00 | $75.00 | ||
| 1878-CC Morgan Silver Dollar | 2,212,000 | N/A | $125.00 | $150.00 | $70.00 | ||
| 1878-S Morgan Silver Dollar | 9,774,000 | N/A | $45.00 | $47.00 | $48.00 | ||
| 1879 Morgan Silver Dollar | 14,806,000 | N/A | $30.00 | $33.00 | $40.00 | ||
| 1879-CC Morgan Silver Dollar | 756,000 | N/A | $335.00 | $800.00 | $1,700.00 | ||
| 1879-O Morgan Silver Dollar | 2,887,000 | N/A | $42.00 | $45.00 | $47.00 | ||
| 1879-S Morgan Silver Dollar | 9,110,000 | N/A | $40 | $39 | $70.00 | ||
| 1880 Morgan Silver Dollar | 12,600,000 | N/A | $40.00 | $42.00 | $41.00 | ||
| 1880-CC Morgan Silver Dollar | 495,000 | N/A | $220.00 | $285.00 | $350.00 | ||
| 1880-O Morgan Silver Dollar | 5,305,000 | N/A | $40.00 | $42.00 | $43.00 | ||
| 1880-S Morgan Silver Dollar | 8,900,000 | N/A | $30.00 | $40.00 | $46.00 | ||
| 1881 Morgan Silver Dollar | 9,163,000 | N/A | $30.00 | $37.00 | $42.00 | ||
| 1881-CC Morgan Silver Dollar | 296,000 | N/A | $400.00 | $425.00 | $440.00 | ||
| 1881-O Morgan Silver Dollar | 5,708,000 | N/A | $40.00 | $42.00 | $41.00 | ||
| 1881-S Morgan Silver Dollar | 12,760,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1882 Morgan Silver Dollar | 11,100,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1882-CC Morgan Silver Dollar | 1,133,000 | N/A | $110.00 | $130.00 | $145.00 | ||
| 1882-O Morgan Silver Dollar | 6,090,000 | N/A | $37.00 | $37.00 | $42.00 | ||
| 1882-S Morgan Silver Dollar | 9,250,000 | N/A | $30.00 | $30.00 | $41.00 | ||
| 1883 Morgan Silver Dollar | 12,290,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1883-CC Morgan Silver Dollar | 1,204,000 | N/A | $100.00 | $150.00 | $210 | ||
| 1883-O Morgan Silver Dollar | 8,725,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1883-S Morgan Silver Dollar | 6,250,000 | N/A | $30.00 | $50.00 | $140.00 | ||
| 1884 Morgan Silver Dollar | 14,070,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1884-CC Morgan Silver Dollar | 1,136,000 | N/A | $150.00 | $160.00 | $160.00 | ||
| 1884-O Morgan Silver Dollar | 9,730,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1884-S Morgan Silver Dollar | 3,200,000 | N/A | $32.00 | $75.00 | $290.00 | ||
| 1885 Morgan Silver Dollar | 17,787,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1885-CC Morgan Silver Dollar | 228,000 | N/A | $575.00 | $600.00 | $590.00 | ||
| 1885-O Morgan Silver Dollar | 9,185,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1885-S Morgan Silver Dollar | 1,497,000 | N/A | $45.00 | $60.00 | $110.00 | ||
| 1886 Morgan Silver Dollar | 19,963,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1886-O Morgan Silver Dollar | 10,710,000 | N/A | $42.00 | $45.00 | $75.00 | ||
| 1886-S Morgan Silver Dollar | 750,000 | N/A | $78.00 | $115.00 | $150.00 | ||
| 1887 Morgan Silver Dollar | 20,290,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1887-O Morgan Silver Dollar | 11,550,000 | N/A | $30.00 | $33.00 | $55.00 | ||
| 1887-S Morgan Silver Dollar | 1,771,000 | N/A | $30.00 | $33.00 | $50.00 | ||
| 1888 Morgan Silver Dollar | 19,183,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1888-O Morgan Silver Dollar | 12,150,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1888-S Morgan Silver Dollar | 657,000 | N/A | $125.00 | $140.00 | $205.00 | ||
| 1889 Morgan Silver Dollar | 21,726,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1889-CC Morgan Silver Dollar | 350,000 | N/A | $1,150.00 | $2,750.00 | $7,000.00 | ||
| 1889-O Morgan Silver Dollar | 11,875,000 | N/A | $30.00 | $37.00 | $55.00 | ||
| 1889-S Morgan Silver Dollar | 700,000 | N/A | $60.00 | $75.00 | $105.00 | ||
| 1890 Morgan Silver Dollar | 16,802,000 | N/A | $30.00 | $33.00 | $43.00 | ||
| 1890-CC Morgan Silver Dollar | 2,309,041 | N/A | $110.00 | $150.00 | $190.00 | ||
| 1890-O Morgan Silver Dollar | 10,701,000 | N/A | $30.00 | $33.00 | $49.00 | ||
| 1890-S Morgan Silver Dollar | 8,230,373 | N/A | $30.00 | $33.00 | $45.00 | ||
| 1891 Morgan Silver Dollar | 8,693,556 | N/A | $30.00 | $33.00 | $45.00 | ||
| 1891-CC Morgan Silver Dollar | 1,618,000 | N/A | $110.00 | $140.00 | $1,190.00 | ||
| 1891-O Morgan Silver Dollar | 7,954,529 | N/A | $30.00 | $33.00 | $55.00 | ||
| 1891-S Morgan Silver Dollar | 5,296,000 | N/A | $30.00 | $33.00 | $45.00 | ||
| 1892 Morgan Silver Dollar | 1,036,000 | N/A | $45.00 | $55.00 | $90.00 | ||
| 1892-CC Morgan Silver Dollar | 1,352,000 | N/A | $250.00 | $450.00 | $690.00 | ||
| 1892-O Morgan Silver Dollar | 2,744,000 | N/A | $35.00 | $42.00 | $70.00 | ||
| 1892-S Morgan Silver Dollar | 1,200,000 | N/A | $125.00 | $275.00 | $1,650.00 | ||
| 1893 Morgan Silver Dollar | 378,000 | N/A | $225.00 | $250.00 | $400.00 | ||
| 1893-CC Morgan Silver Dollar | 677,000 | N/A | $677.00 | $1,350.00 | $2,400.00 | ||
| 1893-O Morgan Silver Dollar | 300,000 | N/A | $300.00 | $475.00 | $775.00 | ||
| 1893-S Morgan Silver Dollar | 100,000 | N/A | $5,200.00 | $8,500.00 | $145,000 | ||
| 1894 Morgan Silver Dollar | 110,000 | N/A | $925.00 | $1,000.00 | $1,700.00 | ||
| 1894-O Morgan Silver Dollar | 1,723,000 | N/A | $55.00 | $95.00 | $260.00 | ||
| 1894-S Morgan Silver Dollar | 1,260,000 | N/A | $95.00 | $175.00 | $450.00 | ||
| 1895-O Morgan Silver Dollar | 450,000 | N/A | $350.00 | $500.00 | $1,200.00 | ||
| 1895-S Morgan Silver Dollar | 400,000 | N/A | $675.00 | $1,000.00 | $1,800.00 | ||
| 1896 Morgan Silver Dollar | 9,976,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1896-O Morgan Silver Dollar | 4,900,000 | N/A | $42.00 | $45.00 | $160.00 | ||
| 1896-S Morgan Silver Dollar | 5,000,000 | N/A | $70.00 | $250.00 | $775.00 | ||
| 1897 Morgan Silver Dollar | 2,822,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1897-O Morgan Silver Dollar | 4,004,000 | N/A | $303.00 | $50.00 | $100.00 | ||
| 1897-S Morgan Silver Dollar | 5,825,000 | N/A | $3,030.00 | $33.00 | $45.00 | ||
| 1898 Morgan Silver Dollar | 5,884,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1898-O Morgan Silver Dollar | 4,440,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1898-S Morgan Silver Dollar | 4,102,000 | N/A | $45.00 | $50.00 | $100.00 | ||
| 1899 Morgan Silver Dollar | 330,000 | N/A | $175.00 | $185.00 | $225.00 | ||
| 1899-O Morgan Silver Dollar | 12,290,000 | N/A | $30.00 | $33.00 | $40.00 | ||
| 1899-S Morgan Silver Dollar | 2,562,000 | N/A | $45.00 | $65.00 | $140.00 | ||
| 1900 Morgan Silver Dollar | 8,830,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1900-O Morgan Silver Dollar | 12,590,000 | N/A | $30.00 | $33.00 | $41.00 | ||
| 1900-S Morgan Silver Dollar | 3,540,000 | N/A | $45.00 | $55.00 | $90.00 | ||
| 1901 Morgan Silver Dollar | 6,962,000 | N/A | $55.00 | $115.00 | $280.00 | ||
| 1901-O Morgan Silver Dollar | 13,320,000 | N/A | $40.00 | $42.00 | $41.00 | ||
| 1901-S Morgan Silver Dollar | 2,284,000 | N/A | $48.00 | $65.00 | $200.00 | ||
| 1902 Morgan Silver Dollar | 7,994,000 | N/A | $43.00 | $50.00 | $45.00 | ||
| 1902-O Morgan Silver Dollar | 8,636,000 | N/A | $40.00 | $43.00 | $45.00 | ||
| 1902-S Morgan Silver Dollar | 1,530,000 | N/A | $140.00 | $190.00 | $275.00 | ||
| 1903 Morgan Silver Dollar | 4,652,000 | N/A | $50.00 | $53.00 | $65.00 | ||
| 1903-O Morgan Silver Dollar | 4,450,000 | N/A | $350.00 | $375.00 | $365.00 | ||
| 1903-S Morgan Silver Dollar | 1,241,000 | N/A | $275.00 | $375.00 | $1,600.00 | ||
| 1904 Morgan Silver Dollar | 2,788,000 | N/A | $40.00 | $47.00 | $55.00 | ||
| 1904-O Morgan Silver Dollar | 3,720,000 | N/A | $43.00 | $45.00 | $41.00 | ||
| 1904-S Morgan Silver Dollar | 2,304,000 | N/A | $80.00 | $200.00 | $500.00 | ||
| 1921 Morgan Silver Dollar | 44,690,000 | N/A | $28.00 | $30.00 | $38.00 | ||
| 1921-D Morgan Silver Dollar | 20,345,000 | N/A | $32.00 | $34.00 | $38.00 | ||
| 1921-S Morgan Silver Dollar | 21,695,000 | N/A | $32.00 | $34.00 | $41.00 | ||
*Source: 2020 Redbook
FAQ
What determines the Morgan Silver Dollar value?
The Morgan Silver Dollar value is determined by its mint year, mint mark, condition (or grade), rarity, and silver content. Additionally, coins with historical significance or those with errors and varieties can also command higher prices.
How much is a common date Morgan Silver Dollar worth?
A common date Morgan Silver Dollar in circulated condition typically has a value slightly above its silver bullion value, often ranging from $30 to $80 depending on the current price of silver. Uncirculated examples can be worth more.
What is the most valuable Morgan Silver Dollar?
The 1893-S Morgan Silver Dollar is considered one of the most valuable, with high-grade examples fetching over $100,000 at auctions due to its low mintage and high demand among collectors.
Can the condition of a Morgan Silver Dollar significantly affect its value?
Yes, the condition or grade of a Morgan Silver Dollar can significantly affect its value. Coins in higher grades (e.g., MS-65 and above) are worth considerably more than those in lower grades due to their rarity in well-preserved condition.
What is the value of an 1895 Morgan Silver Dollar?
The 1895 Morgan Silver Dollar, particularly the Philadelphia issue, is known as the "King of the Morgan Dollars" due to its rarity and can be extremely valuable, with proofs selling for between $20,000 to $50,000 or more depending on the condition.
How does the mint mark affect the Morgan Silver Dollar value?
The mint mark on a Morgan Silver Dollar (located on the reverse below the wreath) indicates where the coin was minted (Philadelphia, New Orleans, Carson City, Denver, or San Francisco). Certain mint marks, like the Carson City (CC), are more valuable due to lower mintage numbers and higher collector interest.
What is the silver content of a Morgan Silver Dollar, and how does it impact value?
A Morgan Silver Dollar contains approximately 0.7734 troy ounces of silver. While the intrinsic silver value provides a base price, collector interest in specific dates, mint marks, and conditions can elevate the coin's value well above its silver content.
Where can I find the value of a specific year or mint mark Morgan Silver Dollar?
The value of specific year or mint mark Morgan Silver Dollars can be found in numismatic reference books, online price guides, or by consulting with a reputable coin dealer or numismatic expert.
Are Morgan Silver Dollars from 1921 less valuable?
Morgan Silver Dollars from 1921, the last year they were minted, are generally less valuable than earlier dates due to their higher mintage numbers. However, exceptional examples in uncirculated condition or with specific varieties can still be quite valuable.
How can I accurately assess the value of my Morgan Silver Dollar?
To accurately assess the value of your Morgan Silver Dollar, consider having it graded by a professional grading service like PCGS or NGC. This will provide an objective assessment of its condition, which is crucial for determining its market value.