Depending on rarity, mint, year, and condition your Morgan silver dollar could be worth its silver content of around $19, or it could be worth up to $2,250,000.
Being the most collected coin US, chances are if you have curated, you have recently started, or you inherited a coin collection you probably have at least one Morgan silver dollar in your collection.
If you have any Morgan silver dollars, finding out their value and where it lies is a smart move no matter if you are selling your coins online, thinking about keeping them, or are planning to give them to someone. Get a free zero-pressure coin appraisal with Coinfully and find out exactly what your Morgan silver dollars are worth and why.
Now, let us understand what gives your Morgan silver dollars value!
Table of Contents
Where Is A Morgan Silver Dollar’s Worth?
A Morgan silver dollar’s worth is found in, and based on, its year, mint, rarity, and condition.
Year
Morgan dollars were originally minted from 1878 to 1904. They were brought back for a year in 1921.
There is no one specific year worth more than the rest. First and last years are always major ones to look out for, but after that years to look for are dependent on the other words listed below.
Mint Marks
The mints that made Morgan dollars were Carson City, Denver, New Orleans, San Francisco, and Philadelphia.
You can tell where your Morgan silver dollar was minted based on the letters it has.
- CC: Carson City Mint – minted 1878 to 1893
- D: Denver Mint – only minted in 1921
- O: New Orleans Mint – minted 1879 to 1904
- S: San Francisco Mint – minted 1878 to 1904 and 1921
- No mint marks means the coins were minted in Philadelphia
Morgan dollar mint marks are located on the tail side of the coin under the eagle. The rarest mint mark on a Morgan silver dollar is the CC for coins minted in Carson City.
Scarcity
A Morgan silver dollar is considered scarce if it has a low mintage, or if there are few of them remaining.
Every Morgan dollar was only minted a certain number of times per year at any location. The number of times it was minted is called mintage.
Since any Morgan dollar’s mintage, there are many reasons as to why less of a certain coin might be remaining. Sometimes they get physically lost by people and time. But, more than not, they have been melted back down to silver.
In 1918 over 270 million Morgan silver dollars were melted down for their silver.
Morgan silver dollars with low mintage or with few still surviving are considered to be rare coins and are heavily sought after by coin collectors, increasing their value.
Condition
Morgan silver dollars in better condition are worth more than ones heavily worn.
Condition can be most important. If you have a Morgan silver dollar with a sought after year and mint that is scarce, but so does someone else, only theirs is in a better condition than yours, you would get less than them.
Condition of a Morgan silver dollar is rated on a scale from 1-70. The higher the rating the closer to new that a coin looks. One is given coins that look like they have been heavily handled. Seventy is given to a coin with no marks and looks like it is brand new.
Any combination of year, mint, rarity, and condition can make your Morgan silver dollars worth significant money.
History Of The Morgan Silver Dollar
Almost 150 years old, the Morgan silver dollar has had a rich history which has gotten it to become the most collectible US coin.
The Morgan dollar series was named after the coin’s designer George T. Morgan. The coin was first designed and minted in the same year 1878.
Designed by, and named after, George T. Morgan in 1878, the Morgan silver dollar was first minted later that year.
When silver reserves were depleted in 1904, the striking of Morgan silver dollars was stopped until 1921. With so many silver coins being melted down in 1918 the Morgan dollars were able to resume minting for one year. In 1921, the Morgan dollars were replaced with the Peace silver dollars to commemorate the end of the First World War.
The Most Valuable Morgan Silver Dollar
The most valuable Morgan silver dollar ever was struck at the San Francisco mint in 1893 and sold for over $2 million at auction in 2021.
How Much Is A Morgan Silver Dollar Worth In Silver?
Your Morgan dollar’s silver value is dependent on the price of silver bullion when you sell and how much of the precious metal is in your Morgan dollar.
How much silver is in a Morgan silver dollar is dependent on the year that you have. From 1878 to 1904, as well as 1921, Morgan silver dollars contained 90% silver (the same silver amount as common or valuable silver half dollars minted before 1965). Putting its melt value at around $19.
If you decide to sell your Morgan silver dollars based on silver content they will look at the amount of silver and be weighed. The same thing happens if you are trying to sell gold coins.
How Much Does A Morgan Silver Dollar Weigh?
Morgan silver dollars weigh 26.73 grams, or 0.859 troy ounces with 0.77344 troy ounces of silver.
What To Do With Your Morgan Silver Dollars Now
Whether you plan to keep or sell your coin collection or any Morgan silver dollars, handle them carefully and get an appraisal.
No matter what you decide to do with your Morgan dollars, touch or handle them as little as possible.
If you plan on keeping your Morgan silver dollars, are considering selling them, or were given them in an inherited coin collection that you are not sure what to do with, you probably want to keep them as valuable as you can. Any direct contact you have with them can reduce the value of Morgan silver dollars or any other coin.
Even if you have found dirt or grime on them, do not clean your Morgan silver dollar coins. Cleaned Morgan dollars can significantly drop in value.
If you are trying to examine your Morgan dollars to determine their worth, we recommend an expert do it during an appraisal. They will know how to handle your coins in a way that protects their value.
You can take your Morgan silver dollars anywhere that sells or buys coins for an appraisal and an expert to look at them.
If you do not trust yourself to move your coins now, cannot find the time to take them to a coin shop, or are worried about being strong-armed into selling your collection for less than it is worth, let Coinfully’s experts give you a free zero-pressure online appraisal from the comfort of your own home.
If you do decide to sell your Morgan silver dollars, Coinfully’s appraisals are guaranteed to be the best price for your coins thanks to the low overhead that comes with giving you appraisals from the comfort of your home.
If you would like an expert to give an appraisal in person but do not trust yourself to move your coins or cannot find the time to take them to a coin shop, Coinfully offers a free at-home appraisal where one of our experts travels to wherever you are and gives you the best possible price that your coins deserve.
Prices according to PCGS’s Morgan dollar price guide.
