The Morgan Silver Dollar, minted between 1878 and 1921, holds a special place in American numismatic history. Its intricate design, historical significance, and substantial silver content make it highly desirable among coin collectors and investors. If you’re curious about the value of Morgan Silver Dollars and the factors that influence their worth, this comprehensive guide is all you need.
Understanding Morgan Silver Dollars
The Morgan Silver Dollar was designed by George T. Morgan, with Lady Liberty on the obverse and a bald eagle clutching arrows and an olive branch on the reverse. The coin’s production spanned five U.S. mints: Philadelphia (no mint mark), San Francisco (S), New Orleans (O), Carson City (CC), and Denver (D). Each mint mark, along with the coin’s condition and rarity, plays a significant role in determining its value.
Factors Affecting Morgan Silver Dollar Value
- Mint Mark and Location
Mint marks indicate where the coin was minted. Carson City (CC) coins, for example, are more valuable due to their lower mintages. - Condition and Grading
Coins are graded on a scale from Good (G) to Mint State (MS). A higher grade means better preservation and higher value. - Rarity
Coins with limited production or specific historical significance are highly sought after and command higher prices. - Demand Among Collectors
Certain years and mint marks are more desirable, driving up their market value.
Morgan Silver Dollar Value Chart (1878–1921)
The following table provides an overview of Morgan Silver Dollar values based on mint year, mint mark, and condition. Values are approximate and depend on current market trends and silver prices.
| Year | Mint Mark | Mintage | Good (G) | Extremely Fine (EF) | Mint State (MS-60) | MS-65 |
|---|---|---|---|---|---|---|
| 1878 | None | 10,500,000 | $40 | $60 | $150 | $300 |
| 1878 | CC | 2,212,000 | $100 | $200 | $350 | $700 |
| 1879 | None | 14,807,000 | $20 | $50 | $75 | $150 |
| 1879 | CC | 756,000 | $200 | $1,200 | $3,000 | $8,000 |
| 1880 | None | 12,600,000 | $20 | $40 | $60 | $120 |
| 1880 | CC | 495,000 | $180 | $325 | $500 | $1,000 |
| 1889 | CC | 350,000 | $600 | $7,000 | $22,000 | $44,000 |
| 1893 | None | 378,000 | $200 | $400 | $1,400 | $2,800 |
| 1895 | None | 12,000 | $1,000 | $5,000 | $10,000 | $20,000 |
| 1921 | None | 44,690,000 | $20 | $35 | $50 | $100 |
Key Dates and Valuable Morgan Silver Dollars
- 1878 Carson City (CC):
The first year of minting makes this a popular collector’s coin. Value starts at $100 for lower grades. - 1889 Carson City (CC):
One of the rarest Morgan Silver Dollars, commanding prices upwards of $600 in Good condition. - 1893 San Francisco (S):
A low mintage year that’s especially prized by collectors. Prices often exceed $3,000 for uncirculated coins. - 1895 Proof (Philadelphia):
Known as the “King of Morgan Dollars,” this coin has a mintage of just 12,000, with values starting at $1,000 in Good condition.
How to Determine the Value of Your Morgan Silver Dollar
To evaluate your coin’s value:
- Identify the Mint Mark:
Look under the eagle’s tail feathers on the reverse side to find the mint mark. - Assess the Condition:
Examine for wear and damage. Coins with minimal wear fetch higher prices. - Check Rarity:
Research the mintage and collector demand for your coin. - Consult a Grading Service:
Professional grading by agencies like PCGS or NGC adds credibility and can increase resale value.
Investing in Morgan Silver Dollars
Morgan Silver Dollars are not just collector’s items but also a viable investment. Their silver content and historical significance provide intrinsic and market value. As silver prices fluctuate, so do the values of these coins, making them a hedge against inflation.
The Morgan Silver Dollar remains a cornerstone of American numismatics, with a rich history and enduring appeal. Whether you’re a collector, investor, or enthusiast, understanding the factors that influence their value can help you make informed decisions. Use this value chart and guide to assess your coins and uncover the hidden treasures in your collection.
FAQs
What is the most valuable Morgan Silver Dollar?
The 1895 Proof Morgan Silver Dollar, minted in Philadelphia, is often considered the most valuable, with prices reaching $20,000 or more.
Where can I find the mint mark on a Morgan Silver Dollar?
The mint mark is located on the reverse side, just beneath the wreath.
What makes Carson City Morgan Dollars so valuable?
Carson City (CC) coins were minted in smaller quantities, making them rare and highly sought after.
