A Morgan silver dollar value can vary from a low of just over melt value at spot price, to over $250,000! Clearly the numismatic value of some of the rare ones can be extremely high. However, many of the dates are worth far less, and there are millions of Morgan dollars that are essentially junk silver coins. When buying or selling coins as a collector, rarity and condition are important factors to consider. And when buying or selling well-worn circulated coins that collectors don’t care about, the silver content is the factor to consider.
These dollar coins contain 0.77344 troy ounces of silver, but wear can reduce this number slightly. At the time of writing, silver spot price is at $14.60 per ounce, so the melt value of these coins today is $11.29. Keep the melt value in mind when buying coins for owning of silver, rather than collecting for rarity.
To determine a current Morgan silver dollar value one should consult a coin grading service, or book such as A GUIDEBOOK OF UNITED STATES COINS (known as “The Redbook).
The following table shows the average value of these Morgan silver dollars. To know the specific price for the condition of your coins, and a guide on how to grade them, click more details.
| Date and Variety | Mintage | Average Value | Highest Value | Full Values List |
| 1878 8 Tail Feathers | 750,000 | $36 | $6,564 | more details |
| 1878 7 Tail Feathers | 9,759,550 | $26 | $7,280 | more details |
| 1878 7 Tail Feathers Rev of 1879 | $27 | $59,285 | more details | |
| 1878 7 over 8 Tail Feathers | $35 | $3,160 | more details | |
| 1878 CC | 2,212,000 | $67 | $1,865 | more details |
| 1878S | 9,774,000 | $23 | $287 | more details |
| 1879 | 14,807,100 | $20 | $7,401 | more details |
| 1879CC | 756,000 | $340 | $21,583 | more details |
| 1879O | 2,887,000 | $21 | $4,110 | more details |
| 1879S Rev of 1878 | 9,110,000 | $24 | $8,677 | more details |
| 1879S Rev of 1879 | $20 | $105 | more details | |
| 1880 | 12,601,355 | $20 | $6,821 | more details |
| 1880 8 over 7 | $24 | $63 | more details | |
| 1880CC Rev of 1878 | 591,000 | $109 | $2,790 | more details |
| 1880CC Rev of 1879 | $107 | $935 | more details | |
| 1880CC 8 over 7 | $103 | $1,338 | more details | |
| 1880O | 5,305,000 | $21 | $16,716 | more details |
| 1880S | 8,900,000 | $20 | $114 | more details |
| 1881 | 9,163,984 | $20 | $6,882 | more details |
| 1881CC | 296,000 | $160 | $815 | more details |
| 1881O | 5,708,000 | $20 | $2,291 | more details |
| 1881S | 12,760,000 | $20 | $109 | more details |
| 1882 | 11,101,100 | $21 | $6,067 | more details |
| 1882CC | 1,133,000 | $51 | $441 | more details |
| 1882O | 6,090,000 | $20 | $886 | more details |
| 1882S | 9,250,000 | $20 | $134 | more details |
| 1883 | 12,291,039 | $21 | $6,138 | more details |
| 1883CC | 1,204,000 | $50 | $383 | more details |
| 1883O | 8,725,000 | $19 | $120 | more details |
| 1883S | 6,250,000 | $48 | $30,674 | more details |
| 1884 | 14,070,875 | $18 | $5,859 | more details |
| 1884CC | 1,136,000 | $62 | $365 | more details |
| 1884O | 9,730,000 | $19 | $116 | more details |
| 1884S | 3,200,000 | $70 | $172,769 | more details |
| 1885 | 17,787,000 | $19 | $6,614 | more details |
| 1885CC | 238,000 | $235 | $902 | more details |
| 1885O | 9,185,000 | $20 | $119 | more details |
| 1885S | 1,497,000 | $25 | $2,707 | more details |
| 1886 | 19,963,886 | $19 | $5,776 | more details |
| 1886O | 10,710,000 | $33 | $251,859 | more details |
| 1886S | 750,000 | $48 | $4,313 | more details |
| 1887 | 20,290,710 | $20 | $6,812 | more details |
| 1887O | 11,550,000 | $22 | $6,049 | more details |
| 1887S | 1,771,000 | $25 | $3,905 | more details |
| 1888 | 19,183,832 | $19 | $6,218 | more details |
| 1888O | 12,150,000 | $20 | $677 | more details |
| 1888S | 657,000 | $55 | $5,361 | more details |
| 1889 | 21,726,811 | $21 | $6,348 | more details |
| 1889CC | 350,000 | $1,144 | $284,650 | more details |
| 1889O | 11,875,000 | $23 | $6,916 | more details |
| 1889S | 700,000 | $41 | $2,612 | more details |
| 1890 | 16,802,590 | $29 | $32 | more details |
| 1890-CC | 2,309,041 | $123 | $386 | more details |
| 1890-O | 10,701,000 | $29 | $60 | more details |
| 1890-S | 8,230,373 | $31 | $47 | more details |
| 1891 | 8,694,206 | $28 | $51 | more details |
| 1891-CC | 1,618,000 | $116 | $328 | more details |
| 1891-O | 7,954,529 | $27 | $133 | more details |
| 1891-S | 5,296,000 | $31 | $48 | more details |
| 1892 | 1,037,245 | $26 | $108 | more details |
| 1892-CC | 1,352,000 | $272 | $1,477 | more details |
| 1892-O | 2,744,000 | $27 | $139 | more details |
| 1892-S | 1,200,000 | $30 | $33,586 | more details |
| 1893 | 378,792 | $296 | $622 | more details |
| 1893-CC | 677,000 | $310 | $3,640 | more details |
| 1893-O | 300,000 | $218 | $2,272 | more details |
| 1893-S | 100,000 | $5,784 | $86,594 | more details |
| 1894 | 110,972 | $1,937 | $4,594 | more details |
| 1894-O | 1,723,000 | $64 | $477 | more details |
| 1894-S | 1,260,000 | $80 | $714 | more details |
| 1895* | 0 | $23,233 | $38,496 | more details |
| 1895-O | 450,000 | $420 | $15,594 | more details |
| 1895-S | 400,000 | $558 | $3,398 | more details |
| 1896 | 9,976,762 | $29 | $33 | more details |
| 1896-O | 4,900,000 | $27 | $1,184 | more details |
| 1896-S | 5,000,000 | $27 | $1,648 | more details |
| 1897 | 2,822,731 | $31 | $33 | more details |
| 1897-O | 4,004,000 | $30 | $726 | more details |
| 1897-S | 5,825,000 | $27 | $48 | more details |
| 1898 | 5,884,735 | $31 | $35 | more details |
| 1898-O | 4,440,000 | $26 | $35 | more details |
| 1898-S | 4,102,000 | $32 | $242 | more details |
| 1899 | 330,846 | $220 | $252 | more details |
| 1899-O | 12,290,000 | $26 | $37 | more details |
| 1899-S | 2,562,000 | $31 | $304 | more details |
| 1900 | 8,830,912 | $30 | $38 | more details |
| 1900-O | 12,590,000 | $27 | $33 | more details |
| 1900-S | 3,540,000 | $31 | $310 | more details |
| 1901 | 6,962,813 | $27 | $1,995 | more details |
| 1901-O | 13,320,000 | $28 | $39 | more details |
| 1901-S | 2,284,000 | $26 | $464 | more details |
| 1902 | 7,994,777 | $25 | $38 | more details |
| 1902-O | 8,636,000 | $31 | $38 | more details |
| 1902-S | 1,530,000 | $83 | $358 | more details |
| 1903 | 4,652,755 | $54 | $51 | more details |
| 1903-O | 4,450,000 | $435 | $394 | more details |
| 1903-S | 1,241,000 | $111 | $3,313 | more details |
| 1904 | 2,788,650 | $27 | $60 | more details |
| 1904-O | 3,720,000 | $35 | $44 | more details |
| 1904-S | 2,304,000 | $47 | $1,010 | more details |
| 1921 | 44,690,000 | $30 | $22 | more details |
| 1921-D | 20,345,000 | $31 | $41 | more details |
| 1921-S | 21,695,000 | $26 | $35 | more details |
StateQuarters information about Morgan silver dollar coin values.
Wikipedia information about Morgan silver dollars.
About.com Morgan silver dollar informarion.
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Morgan silver dollars were the most abundantly produced US silver dollar coin, however they were not well received by the general public at the time of their minting. Between 1878 and 1904 the Morgan dollar was produced annually but this production was paused from 1905 until 1921, due to a general lack of interest and little demand for the coins. For whatever reasons may have been prevalent at that time people did not seem to like these large coins, calling them names like “cartwheel” because of the relative cumbersomeness of the design. In addition there were other derogatory names like the “buzzard dollar” because of the depiction of the eagle on the reverse (back) of the dollar coin. Such complaints pointed out that the eagle did not exude the power and majesty of the proud US national mascot because of the shape of the bird’s body, especially the neck, and the posture of the head and neck in general. The design was not considered by some to be fitting for the purpose and they suggested that it should be redesigned. Their wish was to be fulfilled at the end of 1921 after a huge run of 85 million coins that year. The production of that year would prove to be the last minting for the Morgan silver dollar design as it was replaced by the Peace silver dollar coin immediately thereafter.
The obverse (front) of the coin shows a bust relief of “lady liberty.” This fact makes the proper term for this coin a “Liberty Head Dollar”. The model Anna Willis Williams who posed for the artist creating the Lady Liberty depiction, was a schoolteacher at the time. In those days young women often had to be very careful about preserving their good repute, and so she kept secret the fact that she was modeling for the project. The process took just five sitting sessions, but even that level of involvement she feared could lead to her dismissal from her position at the educational institute that employed her. The strictest secrecy was observed by her in this in order to keep her employ, society and therefore the school would not allow what they considered unacceptable work as an artists model. Luck would have it that determined reporter was able to find out Ms. Williams’ name and revealed her identity in print. This resulted in her being released from her position as a schoolteacher.
The coin was designed by George T Morgan who was at the time a student of [William Wyen] of the Royal Mint located in London, England. The US government hired George T Morgan in 1878 as a designer for the new coin to be a silver dollar. The “need” for a new silver coin followed the silver boom following the find of the Nevada Comstock lode and was conceived of by a group of silver mine owners and pitched to the US Congress. The act became knows as the [Bland-Allison] Act that dictated the monthly sale of of 2 million to 4 million ounces of silver from their silver mining production group. Over the years this act produced over 500,000,000 Morgan silver dollar coins.
There is one year of special note here, the 1895 “plain” minting of the Morgan dollar. The US mint reported that 12,000 commercial strikes, coins to be placed into circulation, were produced along with 880 proof strikes. These coins all seem to have disappeared completely from existence, save about 75 of the proof coins. The value of any 1895 Morgan dollar with no mint mark (plain) would be astronomical, making it the “King of Morgans”. Perhaps one day a cache with all these coins will be found by some lucky person.
Morgan Dollar Grading Guide
The following photos and descriptions of silver dollar coins are a general guide to Morgan Silver Dollar values. Any Morgan Silver Dollar value will depend not only on the condition of the coin but also upon the market within which it is being sold.
| POOR (P1) |  |
| FAIR (FR2) |  |
| ABOUT GOOD (AG3) |  |
| GOOD (G4) |  |
| GOOD (G6) |  |
| VERY GOOD (VG8) |  |
| VERY GOOD (VG10) |  |
| FINE (F12) |  |
| FINE (F15) |  |
| VERY FINE (VF20) |  |
| VERY FINE (VF35) |  |
| EXTREMELY FINE (XF40) |  |
| EXTREMELY FINE (XF45) |  |
| ALMOST UNCIRCULATED (AU50) |  |
| ALMOST UNCIRCULATED (AU53) |  |
| ALMOST UNCIRCULATED (AU55) |  |
| ALMOST UNCIRCULATED (AU58) |  |
| MINT STATE (MS60) |  |
| MINT STATE (MS63) |  |
| MINT STATE (MS64) |  |
| MINT STATE (MS65) |  |
| MINT STATE (MS66) |  |
| MINT STATE (MS67) |  |
| MINT STATE (MS68) |  |
| PROOF (PR69) |  |
| DEEP MIRROR PROOFLIKE (DMPL64) |   |
| WORN/ALTERED DOLLAR COIN |   |
| TOOLED DOLLAR COIN |   |
| Images courtesy of coinautcionshelp.com an excellent source of information about Morgan silver dollar value and silver coin sales at auctions. Other information courtesy of |
Current Morgan Silver Dollar Values
| Year | Mint Mark |
Poor Condition |
Good Condition |
Mint Condition |
Perfect (proof) |
|---|---|---|---|---|---|
| 1886 | S | $18.40 | $75 | $349 | $3,307 |
| 1886 | O | $18.40 | $25 | $749 | $188,539 |
| 1886 | none | $18.40 | $22 | $39 | $3,050 |
| 1885 | S | $18.40 | $40 | $249 | $2,019 |
| 1885 | O | $18.40 | $23 | $45 | $177 |
| 1885 | CC | $18.40 | $549 | $650 | $1,307 |
| 1885 | none | $18.40 | $22 | $43 | $3,142 |
| 1884 | S | $18.40 | $11,129 | $6,042 | $250,966 |
| 1884 | CC | $18.40 | $129 | $227 | $507 |
| 1884 | O | $18.40 | $22 | $45 | $171 |
| 1884 | none | $18.40 | $22 | $45 | $3,160 |
| 1883 | S | $18.40 | $25 | $649 | $39,541 |
| 1883 | O | $18.40 | $23 | $45 | $168 |
| 1883 | CC | $18.40 | $131 | $222 | $511 |
| 1883 | none | $18.40 | $22 | $43 | $3,133 |
| 1882 | S | $18.40 | $23 | $45 | $172 |
| 1882 | O | $18.40 | $45 | $247 | $50,111 |
| 1882 | O | $18.40 | $22 | $44 | $1,221 |
| 1882 | CC | $18.40 | $129 | $221 | $524 |
| 1882 | none | $18.40 | $22 | $45 | $3,014 |
| 1882 | none | $18.40 | $22 | $45 | $3,014 |
| 1881 | S | $18.40 | $22 | $45 | $171 |
| 1881 | O | $18.40 | $23 | $64 | $1,689 |
| 1881 | CC | $18.40 | $445 | $609 | $1,039 |
| 1881 | none | $18.40 | $22 | $63 | $3,207 |
| 1878 | S | $18.40 | $24 | $59 | $299 |
| 1878 | none | $18.40 | $33 | $154 | $3,527 |
| 1878 | none | $18.40 | $23 | $128 | $63,768 |
| 1878 | CC | $18.40 | $94 | $249 | $1,863 |
| 1879 | S | $18.40 | $23 | $45 | $171 |
| 1879 | O | $18.40 | $23 | $84 | $4,039 |
| 1879 | none | $18.40 | $22 | $37 | $3,233 |
| 1879 | CC | $18.40 | $296 | $4,030 | $4,549 |
| 1880 | none | $18.40 | $23 | $45 | $160 |
| 1880 | CC | $18.40 | $221 | $573 | $1,526 |
| 1880 | O | $18.40 | $22 | $98 | $1,920 |
| 1880 | S | $18.40 | $23 | $64 | $299 |
| 1878 | none | $18.40 | $33 | $143 | $3,518 |