Morgan Silver Dollar Values & Prices

How Much Is a Morgan Silver Dollar Worth?

Morgan Silver Dollar
Morgan Silver Dollar. Image Courtesy of: Heritage Auction Galleries, www.ha.com

This guide will give you an estimate of how much your Morgan silver dollar coins minted from 1878 to 1904, and again in 1921,  are worth.  The table listed below provides average coin values and prices based upon the condition (or grade) of the coin.

History of the Morgan Silver Dollar

In February 1878, the Bland-Allison Act became law and mandated that the government to purchase several million dollars worth of silver every month and coin them into silver dollars.

These coins were not needed for commerce but was used to artificially stabilize the price of silver at the request of the silver mining interests in the Western United States.

George T. Morgan was the English engraver that designed the obverse and the reverse of the coin. The first Morgan silver dollars were minted in 1878. Over the life of the coin it was minted at five different mints: Philadelphia (no mint mark). New Orleans (mint mark O), San Francisco (S), Carson City (CC) and Denver (D).

Production actually stopped in 1904 with coins being produced only at the Philadelphia, New Orleans, and San Francisco mints. When silver dollar production resumed in 1921, the Peace silver dollar design was not ready for the coining presses. Therefore, mint employees revived the Morgan silver dollar design that was used for part of the year until the Peace silver dollar dies were ready for production.

Key Dates, Rarities, and Varieties

The Morgan silver dollars listed below are worth considerably more than common Morgan silver dollars in any condition.  As such, these coins are frequently counterfeit or altered from common  Morgan dollars.  Therefore, before you start celebrating your new found fortune, have the coin authenticated by a reputable coin dealer or third party grading service.

  • 1881 CC
  • 1885 CC
  • 1889 CC
  • 1893 CC
  • 1893 S
  • 1895 Proof
  • 1895 S

Although not extremely rare, the 1878 Morgan silver dollar was minted with four different reverse dies. The first die created had an eagle on the reverse with eight tail feathers.  But after some research, the people at the mint realized that the American bald eagle only has seven tail feathers. Therefore, they created a new die with a bald eagle with only seven tail feathers and the fletchings on the arrows parallel. The photos below illustrate the difference between these two different coins. A third reverse has a doubled tail feathers with a set of seven tail feathers over a set of tail feathers. A fourth reverse has seven tail feathers with a slightly tilted fletching on the top arrow.

Photo Illustrations:

Condition or Grade

If your coin is worn and looks similar to the one illustrated in the link below, it is considered a circulated coin.

If your coin looks similar to the one illustrated in the link below and has no evidence of wear due to being in circulation, it is considered an uncirculated coin.

    Learn More:

    Mint Marks

    Morgan Dollars were produced at five different mints: Philadelphia (no mint mark), Carson City Nevada (CC), New Orleans (O), Denver (D) and San Francisco (S). Not all coins were produced at all mints in all years. As illustrated in the picture below, the mint mark is located on the reverse of the coin, just below the bow in the wreath.

    • Photo of the Morgan Silver Dollar Mint Mark Location

    Average Circulated and Uncirculated Values & Prices

    The following table lists the buy price (what you can expect to pay to a dealer to purchase the coin) and sells value (what you can expect a dealer to pay you if you sell the coin). The first column lists the date and mint mark (see the photo above) followed by the buy price and the sell value for an average circulated Morgan silver dollar.

      The next two columns list the buy price and the sell value for an average uncirculated. These are approximate retail prices and wholesale values. The actual offer you receive from a particular coin dealer will vary depending on the actual grade of the coin and a number of other factors that determine its worth.

    Date & MintCirculated Uncirculated
    BuySell BuySell
    1878 8TF$49.00$25.00 $230.00$170.00
    1878 7/8TF Str$37.00$18.00 $250.00$170.00
    1878 7TF$33.00$17.00 $120.00$80.00
    1878 7TF Rev '79$37.00$19.00 $170.00$120.00
    1878-CC$100.00$50.00 $440.00$300.00
    1878-S$27.00$14.00 $72.00$49.00
    1879$26.00$14.00 $69.00$51.00
    1879-CC$160.00$80.00 $6,000.00$4,100.00
    1879-CC Cap$160.00$80.00 $5,800.00$4,200.00
    1879-O$27.00$13.00 $180.00$120.00
    1879-S Rev '78$34.00$16.00 $440.00$330.00
    1879-S$27.00$14.00 $56.00$39.00
    1880$25.00$13.00 $60.00$40.00
    1880-CC Rev '78$150.00$70.00 $640.00$430.00
    1880-CC$140.00$70.00 $580.00$430.00
    1880-O$28.00$13.00 $220.00$160.00
    1880-S$25.00$12.00 $52.00$37.00
    1881$25.00$12.00 $61.00$44.00
    1881-CC$290.00$150.00 $580.00$390.00
    1881-O$26.00$13.00 $62.00$45.00
    1881-S$27.00$14.00 $50.00$36.00
    1882$27.00$13.00 $60.00$44.00
    1882-CC$80.00$40.00 $230.00$160.00
    1882-O$26.00$13.00 $62.00$42.00
    1882-O O/S$35.00$16.00 $490.00$330.00
    1882-S$28.00$13.00 $62.00$44.00
    Date & MintCirculated Uncirculated
    BuySell BuySell
    1883$26.00$13.00 $62.00$44.00
    1883-CC$80.00$40.00 $230.00$160.00
    1883-O$27.00$14.00 $52.00$38.00
    1883-S$31.00$15.00 $1,800.00$1,300.00
    1884$26.00$13.00 $62.00$43.00
    1884-CC$90.00$50.00 $220.00$160.00
    1884-O$26.00$13.00 $51.00$35.00
    1884-S$34.00$16.00 $34,000.00$25,000.00
    1885$27.00$14.00 $54.00$38.00
    1885-CC$400.00$210.00 $800.00$600.00
    1885-O$28.00$14.00 $51.00$35.00
    1885-S$33.00$16.00 $340.00$230.00
    1886$28.00$14.00 $53.00$38.00
    1886-O$28.00$13.00 $2,400.00$1,700.00
    1886-S$44.00$23.00 $460.00$310.00
    1887$28.00$13.00 $50.00$34.00
    1887 7/6$39.00$20.00 $420.00$290.00
    1887-O$32.00$15.00 $100.00$70.00
    1887-O 7/6$37.00$18.00 $1,200.00$900.00
    1887-S$32.00$15.00 $220.00$150.00
    1888$26.00$14.00 $60.00$42.00
    1888-O$28.00$14.00 $61.00$44.00
    1888-S$100.00$50.00 $450.00$320.00
    1889$34.00$17.00 $56.00$38.00
    1889-CC$690.00$360.00 $41,000.00$28,000.00
    1889-O$34.00$17.00 $280.00$190.00
    1889-S$41.00$21.00 $350.00$240.00
    Date & MintCirculated Uncirculated
    BuySell BuySell
    1890$33.00$16.00 $64.00$45.00
    1890-CC$90.00$40.00 $770.00$510.00
    1890-O$33.00$16.00 $100.00$70.00
    1890-S$34.00$16.00 $80.00$60.00
    1891$34.00$17.00 $130.00$90.00
    1891-CC$90.00$40.00 $670.00$490.00
    1891-O$33.00$17.00 $290.00$210.00
    1891-S$32.00$16.00 $110.00$70.00
    1892$35.00$18.00 $390.00$270.00
    1892-CC$160.00$80.00 $1,900.00$1,300.00
    1892-O$34.00$17.00 $390.00$290.00
    1892-S$44.00$22.00 $56,000.00$41,000.00
    1893$160.00$80.00 $1,200.00$800.00
    1893-CC$270.00$130.00 $7,300.00$5,300.00
    1893-O$170.00$90.00 $5,600.00$4,000.00
    1893-S$2,800.00$1,400.00 $160,000.00$110,000.00
    1894$1,000.00$500.00 $4,800.00$3,500.00
    1894-O$45.00$22.00 $3,100.00$2,200.00
    1894-S$52.00$26.00 $1,100.00$800.00
    1895 Proof Only Proof$18,700.00$9,000.00 $51,000.00$35,000.00
    1895-O$260.00$130.00 $32,000.00$24,000.00
    1895-S$380.00$200.00 $5,800.00$4,000.00
    1896$25.00$13.00 $55.00$38.00
    1896-O$35.00$18.00 $4,400.00$3,200.00
    1896-S$37.00$19.00 $3,000.00$2,200.00
    Date & MintCirculated Uncirculated
    BuySell BuySell
    1897$25.00$13.00 $55.00$37.00
    1897-O$32.00$16.00 $3,200.00$2,200.00
    1897-S$32.00$16.00 $100.00$70.00
    1898$27.00$14.00 $56.00$40.00
    1898-O$26.00$13.00 $60.00$40.00
    1898-S$32.00$16.00 $380.00$270.00
    1899$110.00$50.00 $280.00$190.00
    1899-O$25.00$13.00 $55.00$37.00
    1899-S$37.00$17.00 $480.00$330.00
    1900$28.00$13.00 $61.00$45.00
    1900-O$27.00$14.00 $56.00$39.00
    1900-O O/CC$42.00$21.00 $570.00$390.00
    1900-S$35.00$18.00 $350.00$240.00
    1901$33.00$16.00 $9,100.00$6,100.00
    1901-O$27.00$13.00 $57.00$41.00
    1901-S$34.00$17.00 $700.00$510.00
    1902$30.00$14.00 $100.00$70.00
    1902-O$27.00$14.00 $57.00$42.00
    1902-S$56.00$27.00 $510.00$360.00
    1903$38.00$18.00 $74.00$49.00
    1903-O$260.00$130.00 $460.00$330.00
    1903-S$74.00$37.00 $5,900.00$4,300.00
    1904$34.00$17.00 $170.00$120.00
    1904-O$28.00$14.00 $58.00$41.00
    1904-S$38.00$18.00 $3,500.00$2,500.00
    Date & MintCirculated Uncirculated
    BuySell BuySell
    1921$26.00$13.00 $45.00$30.00
    1921-D$25.00$13.00 $56.00$40.00
    1921-S$25.00$13.00 $63.00$46.00
    Complete
    Date-Mint Set

    Total Coins: 96
    $30,000.00$19,000.00 $460,000.00$350,000.00
    Complete
    Date Set

    Total Coins: 28
    $1,200.00$800.00 $10,000.00$7,000.00

    *= See the section above "Key Dates, Rarities, and Varieties" for more information on these coins.

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