The Morgan Silver Dollar is one of the most iconic and collectible coins in American history. Its combination of elegant design and historical significance has made it a favorite among numismatists.
Why Are Morgan Silver Dollars So Valuable?
Minted from 1878 to 1921, the Morgan Silver Dollar was used widely in daily commerce. With about 99% of them circulating over time, only a limited number have survived in pristine condition. These well-preserved coins now hold considerable value, especially those with lower mintages or rare mintmarks.
What Influences Morgan Silver Dollar Value?
The worth of a Morgan Dollar is influenced by three key factors:
- Mintmark and mint location
- Condition (grade)
- Rarity or production quantity
Some can be worth $80, while others, such as the 1893-S, can fetch over $20,000 depending on their condition and origin.
A Quick History of the Morgan Silver Dollar
The coin’s design was the result of a competition spurred by the Bland-Allison Act in 1878. Designed by George T. Morgan, the coin features Lady Liberty, inspired by Philadelphia schoolteacher Anna Willess Williams. Though Morgan intended her identity to remain private, it became public, adding personal intrigue to the coin’s legacy.
Morgan Silver Dollar Value Chart
This simplified chart offers a quick look at the coin’s estimated values:
| Year | Mint Mark | Good (G-4) | Extremely Fine (EF-40) | Uncirculated (MS-60) |
|---|---|---|---|---|
| 1878 | None | $35 | $55 | $75 |
| 1881 | CC | $180 | $300 | $600 |
| 1893 | S | $2,500 | $4,000 | $6,000 |
| 1921 | D | $30 | $45 | $65 |
Note: Mintmark and year drastically affect value. Use this chart to quickly identify potential collector-grade coins.
Key Reverse Designs and Dates to Remember
Subtle design shifts make some Morgans more collectible. Learn these reverse types to better assess your collection:
- 1878 (8 Tail Feathers) – Original reverse, quickly revised
- 1878 (7 Tail Feathers) – Revised version, more common
- 1879 (Slanted Arrow Feather) – Unique arrow feather design
- 1921 (Parallel Arrow Feather) – Final issue with design update
Famous VAM Varieties Worth Knowing
Some Morgan Dollars have unique traits caused by minting errors. These are called VAMs (Van Allen–Mallis varieties). Popular ones include:
- 1888-O “Scarface” – Die crack across Liberty’s cheek
- 1888-O “Hot Lips” – Doubled die causing overlapping lips
- 1878-S “Funky Feather” – Uneven texture on eagle’s feathers
These can be seen with a magnifier—or even the naked eye—and can significantly raise a coin’s value.
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Mintmarks and Their Significance
Each mint left a distinct mark on Morgan Dollars. The mintmark can be found on the reverse below the wreath:
- No Mintmark – Philadelphia (P); generally common
- D – Denver; minted only in 1921
- O – New Orleans; struck coins from 1879 to 1904
- S – San Francisco; known for sharp details
- CC – Carson City; rarest and most sought-after
Carson City (CC) coins are prized due to their low mintage and origin during the Comstock Lode silver boom.
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Start Your Collection With Confidence
Whether you’re just starting or have a growing coin portfolio, Morgan Silver Dollars offer beauty, history, and investment value. Knowing how to assess condition, identify mintmarks, and recognize varieties can turn a simple silver dollar into a collector’s treasure.
For quality coins, collectors trust BOLD Precious Metals, offering a range of Morgan Dollars, Peace Dollars, and American Silver Eagles.
FAQs
How do I find the mintmark on my Morgan Silver Dollar?
Look on the reverse below the eagle’s tail feathers; Carson City (CC) and San Francisco (S) are highly collectible.
Which Morgan Dollar is the most valuable?
The 1893-S Morgan Dollar is among the rarest, with only about 100,000 minted, making it highly valuable in good condition.
Are Morgan Silver Dollars made of pure silver?
No, they are made of 90% silver and 10% copper, containing about 0.7734 troy ounces of silver.
What makes a Morgan Dollar uncirculated?
An uncirculated Morgan Dollar shows no wear and retains full mint luster; these are graded MS-60 and above.