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Morgan Silver Dollar Values & Prices

How Much Is My Morgan Silver Dollar Worth?

By , About.com Guide

Example of a Morgan Dollar
Image Courtesy of: Heritage Auction Galleries, 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.  .

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Market Analysis

Historically, Morgan dollars have always performed well. The average uncirculated coin has increased in value almost 400% since 1970.  These coins are made out of 90% silver and 10% copper and contain exactly 0.77344 troy ounces of pure silver. As of this writing (March 2015), the spot price of silver is approximately $17.00 per troy ounce. Therefore, each coin contains approximately $13.00 worth of silver.   But don't expect to walk in to a coin shop with a bag of coins and have the coin dealer dig through them to pull out the expensive ones for you.  If you want top dollar for your coins, you need to sort them and organize them so the dealer can quickly see what you have.

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 a tail feathers. A fourth reverse has seven tail feathers with a slightly tilted fletching on the top arrow.

1878 Morgan Dollar 8TF
1878 with 8 Tail Feathers (8 TF)
Lincoln Cent Average Uncirculated Condition
1878 with 7 Tail Feathers (7 TF)
Images Courtesy of: Heritage Auction Galleries, Ha.com
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Condition or Grade Examples

Morgan Dollar Average Circulated Condition Circulated Morgan Dollar Average Uncirculated Condition Uncirculated
Click on the photos above for a larger image.
Photos courtesy of Teletrade Coin Auctions, www.teletrade.com
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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.

Morgan Dollar mint mark location
Mint Mark Location
Image Courtesy of: Heritage Auction Galleries, Ha.com

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 sell 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 & Mint Circulated   Uncirculated
Buy Sell Buy Sell
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
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
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
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
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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