Morgan Silver Dollar Value

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.

Morgan silver dollar value closeMorgan silver dollar valueMorgan silver dollar valueMorgan silver dollar valueMorgan silver dollar value

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) Photo of Morgan Silver Dollar in poor (P1) condition/grade.
FAIR (FR2) Photo of Morgan Silver Dollar in fair (FR2) condition/grade.
ABOUT GOOD (AG3) Photo of Morgan Silver Dollar in about good (AG3) condition/grade.
GOOD (G4) Photo of Morgan Silver Dollar in good (G4) condition/grade.
GOOD (G6) Photo of Morgan Silver Dollar in good (G6) condition/grade.
VERY GOOD (VG8) Photo of Morgan Silver Dollar in very good (VG8) condition/grade.
VERY GOOD (VG10) Photo of Morgan Silver Dollar in very good (VG10) condition/grade.
FINE (F12) Photo of Morgan Silver Dollar in fine (F12) condition/grade.
FINE (F15) Photo of Morgan Silver Dollar in fine (F15) condition/grade.
VERY FINE (VF20) Photo of Morgan Silver Dollar in very fine (VF20) condition/grade.
VERY FINE (VF35) Photo of Morgan Silver Dollar in VERY FINE (VF35) condition/grade.
EXTREMELY FINE (XF40) Photo of Morgan Silver Dollar in extremely fine (XF40) condition/grade.
EXTREMELY FINE (XF45) Photo of Morgan Silver Dollar in extremely fine (XF45) condition/grade.
ALMOST UNCIRCULATED (AU50) Photo of Morgan Silver Dollar in almost uncirculated (AU50) condition/grade.
ALMOST UNCIRCULATED (AU53) Photo of Morgan Silver Dollar in almost uncirculated (AU53) condition/grade.
ALMOST UNCIRCULATED (AU55) Photo of Morgan Silver Dollar in almost uncirculated (AU55) condition/grade.
ALMOST UNCIRCULATED (AU58) Photo of Morgan Silver Dollar in almost uncirculated (AU58) condition/grade.
MINT STATE (MS60) Photo of Morgan Silver Dollar in mint state (MS60) condition/grade.
MINT STATE (MS63) Photo of Morgan Silver Dollar in MINT STATE (MS63) condition/grade.
MINT STATE (MS64) Photo of Morgan Silver Dollar in mint state MS64) condition/grade.
MINT STATE (MS65) Photo of Morgan Silver Dollar in mint state (MS65) condition/grade.
MINT STATE (MS66) Photo of Morgan Silver Dollar in mint state (MS66) condition/grade.
MINT STATE (MS67) Photo of Morgan Silver Dollar in mint state (MS67) condition/grade.
MINT STATE (MS68) Photo of Morgan Silver Dollar in mint state (MS68) condition/grade.
PROOF (PR69) Photo of Morgan Silver Dollar in proof (PR69) condition/grade.
DEEP MIRROR PROOFLIKE (DMPL64) Photo of Morgan Silver Dollar OBVERSE in deep mirror prooflike (DMPL64) condition/grade.Photo of Morgan Silver Dollar REVERSE in deep mirror prooflike (DMPL64) condition/grade.
WORN/ALTERED DOLLAR COIN Photo of Morgan Silver Dollar coin that has been clippedPhoto of Morgan Silver Dollar coin REVERSE that has been clipped
TOOLED DOLLAR COIN Photo of Morgan Silver Dollar coin obverse that has been tooledPhoto of Morgan Silver Dollar coin reverse that has been tooled
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 $15.28 $72 $346 $3,304
1886 O $15.28 $22 $746 $188,536
1886 none $15.28 $19 $36 $3,047
1885 S $15.28 $37 $246 $2,016
1885 O $15.28 $20 $42 $174
1885 CC $15.28 $546 $647 $1,304
1885 none $15.28 $19 $40 $3,139
1884 S $15.28 $11,126 $6,039 $250,963
1884 CC $15.28 $126 $224 $504
1884 O $15.28 $19 $42 $168
1884 none $15.28 $19 $42 $3,157
1883 S $15.28 $22 $646 $39,538
1883 O $15.28 $20 $42 $165
1883 CC $15.28 $128 $219 $508
1883 none $15.28 $19 $40 $3,130
1882 S $15.28 $20 $42 $169
1882 O $15.28 $42 $244 $50,108
1882 O $15.28 $19 $41 $1,218
1882 CC $15.28 $126 $218 $521
1882 none $15.28 $19 $42 $3,011
1882 none $15.28 $19 $42 $3,011
1881 S $15.28 $19 $42 $168
1881 O $15.28 $20 $61 $1,686
1881 CC $15.28 $442 $606 $1,036
1881 none $15.28 $19 $60 $3,204
1878 S $15.28 $21 $56 $296
1878 none $15.28 $30 $151 $3,524
1878 none $15.28 $20 $125 $63,765
1878 CC $15.28 $91 $246 $1,860
1879 S $15.28 $20 $42 $168
1879 O $15.28 $20 $81 $4,036
1879 none $15.28 $19 $34 $3,230
1879 CC $15.28 $293 $4,027 $4,546
1880 none $15.28 $20 $42 $157
1880 CC $15.28 $218 $570 $1,523
1880 O $15.28 $19 $95 $1,917
1880 S $15.28 $20 $61 $296
1878 none $15.28 $30 $140 $3,515