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Morgan Dollars saw a lot of history. They first appeared as a result of a political act in 1878, and reappeared multiple times, surviving to our modern age.
These pieces are iconic, undoubtedly, but how much are Morgan silver dollars worth? This article will tell you everything you’d want to know about these coins’ value and way to identify those rare Morgan silver dollars.
Maybe you’re one of the lucky few who have rare silver dollars. Identify the coins in your collection to be sure!
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 Silver Dollar, named after its designer, George T. Morgan.
Obverse: A profile of Lady Liberty. She’s wearing a cap (note that it’s not a Morgan HEAD silver dollar). 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”.
Morgan pieces were 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 specimens have a higher value than non-graded pieces.
Rarity. The 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”.
Morgan Silver Dollar Value Chart
Are Morgan dollars worth anything? They’re worth a lot. Here’s a table of the highest Morgan silver dollars value examples:
Rank | Year | Mint Mark | Approx. Value (MS-65+) | Description |
1 | 1893 | S | $680,000+ | Rarest regular-issue coin (only 100,000) |
2 | 1896 | O | $400,000+ | Rare in MS-65 or higher. One of the rarest key dates you can find |
3 | 1889 | CC | $300,000+ | Scarce in mint condition. Most were melted |
4 | 1895 | O | $225,000+ | Among 450,000 pieces that were struck, most were melted, and high-graded one are rare |
5 | 1895 | O | $200,000+ | Most were struck in low quality and then melted, so AU+ pieces are rare |
6 | 1884 | S | $200,000+ | Common in low grade; rare in MS |
7 | 1893 | O | $175,000+ | Very rare in MS-65+ |
8 | 1892 | S | $170,000+ | Hard to find in the above good conditions. Most were melted |
9 | 1901 | No Mint Mark | $60,000+ | Looks common; rare in top grade |
10 | 1894 | O | $40,000+ | Low population in gem grades |
11 | 1895 | S | $35,000+ | Strong collector interest |
12 | 1879 | CC | $35,000+ | Rare die error |
13 | 1893 | CC | $30,000+ | High Morgan silver dollar values in MS-64+ |
14 | 1883 | S | $30,000+ | Undervalued date |
15 | 1896 | S | $28,000+ | Hard to find in MS |
16 | 1880 | CC | $25,000+ | Popular overdate error |
17 | 1882 | O/S | $20,000+ | A desired error variety |
18 | 1880 | O | $18,000+ | Rare in MS-66+ |
19 | 1887 | O | $16,000+ | Often weakly struck, leaving higher qualities rare |
20 | 1897 | O | $15,000+ | Higher rare Morgan silver dollar value in better grades |
21 | 1886 | O | $13,000+ | Rare in true gem grades |
22 | 1890 | CC | $12,000+ | CC coins are always popular |
23 | 1898 | O | $10,000+ | Surprising scarcity in MS-67 |
24 | 1885 | CC | $1,250+ | Premium for top condition |
25 | 1881 | CC | $1,175+ | Common in MS-64, rare higher |
Which is the most expensive Morgan dollar? Or which one is the rarest here? From the Morgan dollar value chart above, 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 Morgan silver dollar 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.
Top 5 Most Valuable Morgan Silver Dollars
1893-S Morgan Dollar
Only 100,000 pieces were struck, and most went straight into circulation during a financial downturn.
Survivors are worn, and higher-grade coins are very scarce. In MS, it is one of the most valuable Morgan dollars, and a must of any advanced collection.
“The 1893-S has long been the great rarity among Morgan dollars. It is scarce in any grade and extremely rare in Mint State.”
— Q. David Bowers, numismatist
A Guide Book of Morgan Silver Dollars
1884-S Morgan Dollar
The 1884-S has a large mintage but almost no high-grade survivors which make it one of the rare Morgan dollars. Nearly the entire run circulated in the West, and original bags were not stored by the Treasury.
Lower grades are available, but anything above Very Fine becomes difficult, and true MS coins are major rarities. This date shows how survival patterns outweigh mintage numbers.
1896-O Morgan Dollar
The 1896-O is known for soft strikes and poor preservation.
The New Orleans Mint produced over five million pieces, yet very few were saved. Circulated examples are common, but MS coins are exceptionally hard to find and rarely show strong detail.
Quality issues make this one of the toughest late-19th-century Morgans.
1889-CC Morgan Dollar
This is a Carson City issue. Production resumed that year after a break, and the output was small. Most coins circulated heavily in the West. There are few high-grade survivors.
1895-O Morgan Dollar
The 1895-O has a modest mintage and a very low survival rate in better grades.
Nearly all pieces saw heavy use, and MS examples are among the rarest in the entire set. Even mid-grade coins command strong premiums.
This issue is one of the most difficult to find New Orleans dates and a major challenge for collectors.
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 stands out as one of the biggest online platforms. It has many advantages, but be warned of fakes. 1893-S had many counterfeits, and some cunning men would try to sell you a fake coin.
Preserving Morgan Dollars
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.
Coin ID Scanner
It’s so easy to get confused by all the dates and types. 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. Try to find out the price of Morgan silver dollars right now!
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.
FAQ
Are Morgan coins a good investment?
They are historically significant, old, and made of silver, one of the most valuable materials. Therefore, investing in such coins is a great idea!
With time, these old pieces will have an even higher Morgan dollars value. As long as you can preserve them in a good enough condition.
How much silver is in a Morgan dollar?
It contains 0.77344 troy ounces of pure silver. The coin weighs 26.73 grams and is struck in a 90% silver, 10% copper alloy. This standard was used for all specimens from the series from 1878 to 1904 and again in 1921.
The intrinsic metal value changes with the silver market, but the silver content remains the same across the entire series.
What is a Morgan silver dollar?
It’s a United States silver dollar minted from 1878 to 1904 and once more in 1921. It was designed by George T. Morgan, whose initial appears on the obverse (not a portrait).
How much is a Morgan silver dollar worth today?
Silver pieces in About Good to Good grades are sold for around $30. Compared to most other coins, Morgan dollar values are quite high. The rarest pieces can go for $40,000 and more.
What year is the rarest Morgan dollar?
The rarest regular-issue is the 1893-S, struck in San Francisco with a mintage of only 100,000 coins. Most entered circulation immediately; very few survivors were left in collectible condition.
What makes Morgan coin rare?
Firstly, condition. Uncirculated coins (especially MS-65 or higher) are much rarer than circulated ones.
Secondly, mintage numbers. 1893-S specimen had only 100,000 known struck, the lowest regular-issue production in the series.
Finally, errors and special releases. Some were made in proof-only format (like the 1895 Philadelphia), and have higher Morgan silver dollar prices.
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