25 Most Valuable Morgan Silver Dollars: Rare Coins Worth Up to $600,000+

Morgan Silver Dollar Overview

Around 1878, the U.S. government had to purchase large quantities of silver and turn it into coinage. Silver mining enterprises in the Western U.S. wanted the government to bolster silver prices. This led to the creation of the Morgan Silver Dollar, named after its designer, George T. Morgan.

a Morgan silver dolal, featuring Lady Liberty and a bald eagle.

Obverse: A profile of Lady Liberty. She’s wearing a cap. The word "LIBERTY" is inscribed across a headband. Inscriptions “E PLURIBUS UNUM” arch Liberty from the above. Thirteen stars, representing the original 13 colonies, encircle her. The date lies at the very bottom.

Reverse: A bald eagle with outstretched wings, clutching arrows and an olive branch. The words “UNITED STATES OF AMERICA” arch the eagle. The inscription “ONE DOLLAR” is right above the eagle, between its wings. The words “In God We Trust” are at the bottom. The mint mark is right above “In God We Trust”.

What years were Morgan pieces minted? Mainly in 1878–1904, but interestingly, the coin resurfaced after the mintage officially ended. In 1904 and then in 1921 as a Morgan and Peace silver dollars revival.

What Makes a Morgan Dollar Valuable

The value of Morgan silver dollars depends on a few factors.

Material. Are Morgan coins made of silver? Yes, that’s why they are called “Silver”. As a material, silver is one of the most valuable ones. Flowing Hair Dollar, another silver piece, could be $50,000+ worth.
Grades. Grade is the main signifier of the coin’s quality. The better preserved the details are, the more valuable the object is. Graded Morgans have a higher value than non-graded pieces.
Rarity. The Morgan series had a mintage of above 659,000,000 pieces. Errors and special editions make a coin rare. Some mint marks are rare too, like “S” or “CC”. Where is the mint mark on Morgan silver dollars? At the bottom of the reverse.

Top 25 Most Valuable Morgan Coins

Are Morgan pieces worth anything? They’re worth a lot. Here’s a table of the highest Morgan silver dollars value examples:

Rank	Year	Mint Mark	Key Feature	Approx. Value (MS-65+)	Short Description
1	1893	S	Low mintage. Called “The King of Silver Dollars”	$680,000+	Rarest regular-issue Morgan (only 100,000)
2	1896	O	Poor strike quality	$400,000+	Rare in MS-65 or higher. One of the rarest key dates you can find
3	1889	CC	Key Carson City date	$300,000+	Scarce in mint condition. Most were melted
4	1895	O	Low mintage	$225,000+	Among 450,000 pieces that were struck, most were melted, and high-graded one are rare
5	1895	O	Rare above “Good” grades	$200,000+	Most were struck in low quality and then melted, so AU+ pieces are rare
6	1884	S	Rare in mint state	$200,000+	Common in low grade; rare in MS
7	1893	O	Key date	$175,000+	Very rare in MS-65+
8	1892	S	Very low mintage	$170,000+	Hard to find in the above good conditions. Most were melted
9	1901	No Mint (Philadelphia)	Weak strike; rare in MS	$60,000+	Looks common; rare in top grade
10	1894	O	Scarce date	$40,000+	Low population in gem grades
11	1895	S	Rare in high grade	$35,000+	Strong collector interest
12	1879	CC	"Capped Die" variety	$35,000+	Rare die error
13	1893	CC	Scarce date	$30,000+	High value in MS-64+
14	1883	S	Rare in gem condition	$30,000+	Undervalued date
15	1896	S	Low mintage	$28,000+	Hard to find in MS
16	1880	CC	8 over 7 variety	$25,000+	Popular overdate error
17	1882	O/S	Overmintmark variety	$20,000+	A desired error variety
18	1880	O	Low survival rate	$18,000+	Rare in MS-66+
19	1887	O	Scarce in high grades	$16,000+	Often weakly struck, leaving higher qualities rare
20	1897	O	Tough in MS-67	$15,000+	Higher value in better grades
21	1886	O	Poor strike issues	$13,000+	Rare in true gem grades
22	1890	CC	Semi-key Carson City	$12,000+	CC coins are always popular
23	1898	O	Underrated rarity	$10,000+	Surprising scarcity in MS-67
24	1885	CC	Semi-key date; high demand	$1,250+	Premium for top condition
25	1881	CC	MS-68+ rarity	$1,175+	Common in MS-64, rare higher

Which Morgan pieces are worth the most? From the table, we can make a conclusion that coins made around the 90's are one of the rarest and most valuable. Most of them were melted and/or had a small mintage.

1893-S stays as the rarest due to the Panic of 1893, a time of economic depression in the US. It influenced the mintage. A similar situation happened later, with 1930 Penny due to the Great Depression.

Buying Morgan Dollars

The price of Morgan dollars ranges from $30 to over a few thousand dollars. As for the best platforms to buy them, you have two main options.

Coin Auctions. The main online coin auctions in 2025 are a very reliable and official pick. It might take a little work and time to sell/buy a piece from such auctions, but it’s worth it.
Online shops. eBay always stood out as one of the biggest online platforms. It has many advantages, but be warned of fake morgan silver dollars. 1893-S had many counterfeits, and some cunning men would try to sell you a fake coin.

Preserving Morgan Dollars

Congratulations! You bought a Morgan piece. Whether you’re planning on keeping it or selling, it’s better to put it somewhere safe.

a red coin case filled with various coins.

One of the best ways to store coins at home is by using holders and bags. The best coin holders should be pretty yet functional (i.e., not let dust/moisture pass the lid and lower the coin’s quality).

A less stylish, but reliable way to store the coins, is buying a bag for Morgan coins. The bags are usually sold with the coins and in pounds. How many Morgan coins make a pound? 17 pieces! Expect to pay above $1,500 for these 17 pieces.

Coins ID Scanner

It’s so easy to get confused by all the dates and mint marks. Gladly, one app can help identify tricky coins. It’s Coin ID Scanner!

The app uses AI-powered image recognition to identify coins. The app will take a second to scan a photo and then provide the information about the piece. Its country, denomination, year, estimated market value, etc.

The database is vast, featuring 150,000+ coins, with rare and commemorative types. The entries are not from the US only, but other countries, like Japan, Germany, UK, etc.

Coin ID Scanner is free, though if you are a professional, you can unlock advanced features. You can download the app on your iOS and Android devices.

FAQ

How Many Morgan Silver Dollars in a Pound?

A pound bag usually contains 17 pieces. As for Morgan silver dollars by the pound, it’s 26 grams (one piece). Multiply it by 17, and we'll get 452 grams, roughly a pound (453 grams).

What Are Morgan Silver Dollars Worth?

Silver pieces in About Good to Good grades are sold for around $30. Compared to most other coins, the value is quite high. The rarest Morgan pieces can go for $40,000 and more.

Are Morgan Coins a Good Investment?

Morgan pieces are historically significant, old, and made of silver, one of the most valuable coin materials. Therefore, investing in such coins is a great idea! With time, these old pieces will have an even higher value. As long as you can preserve them in a good enough condition.

What Makes Morgan Coin Rare?

Several factors make up the value. Firstly, condition. Uncirculated coins (especially MS-65 or higher) are much rarer than circulated ones. Secondly, mintage numbers. 1893-S Morgan had only 100,000 known struck, the lowest regular-issue mintage in the series. Finally, errors and special releases. Some Morgans were made in proof-only format (like the 1895 Philadelphia), and have higher vaue.

25 Most Valuable Morgan Silver Dollars