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Valuable Morgan Silver Dollars – 2020 Updated Values

Morgan-Silver-Dollars

Morgan Silver Dollars are undoubtedly a must-have in any American collection of coins. Do you know that there are numismatic clubs specialized only in this type of coin?

If you want to know the sales prices of Morgan dollars quickly, you can see them below. However, whenever we talk about coin prices, knowing a lot of details and additional information can be decisive. Therefore, if you have 5 minutes. we recommend you read this article in its entirety.

What are Morgan Dollars?

The Morgan dollar is probably the best-known piece of all American currency. Its history dates back to 1876 when the Director of the United States Mint sent a letter to his counterpart at the Royal Mint in London.

In the late 19th century, as a result of pressure from the US silver mining lobby, the US government agreed to take action to try to set a price for silver, above its market price. To this end, the Bland-Allison Act was passed, a regulation that obliged the government to buy huge quantities of silver – between 2 and 4 million dollars a month – destined to be minted into silver coins.

George T. Morgan, a Briton born in Birmingham (UK), 1845, was recruited just six months before the launch of the new coin by the Philadelphia Mint. He was chosen to design the obverse and reverse of the pieces that would later become known as the Morgan Dollars.

Collecting Valuable Silver Morgan Dollars

Its large, yet delicate design took many years to gain appreciation from coin collectors, and it was not until the mid-1970s that they became popular as authentic American collector coins.

Valuable Morgan Silver Dollars – Reference Catalogue

value-of-the-morgan-silver-dollar

Books such as The Comprehensive Catalog and Encyclopedia of Morgan and Peace Dollars by Leroy C. Van Allen and A. George Mallis, encouraged coin collectors in the United States to build their Morgan Dollar collections based on different criteria.

Identifying the Value of Silver Morgan Dollars – How to identify Mint?

From 1878 to 1904, there were 5 types of Morgan Silver Dollars mint marks:

  • Philadelphia – no visible mark
  • St. Francis – with an S”
  • Denver – with a ‘D’
  • Carson City – with the brand ‘CC’
  • New Orleans – with an ‘O’
morgan-dollars-c

Where to find the Mint mark on a silver Morgan Dollar

The mark is on the back of the coin, just below the crown loop. Morgan Silver Dollars CC (Carson City) are the most popular today.

A Key Date – 1921 Morgan Silver Dollar

Although the Peace Dollar was intended to be put into circulation in 1921, several delays in its design caused the US Mint to look at different options. Thus, while the Peace Dollar’s coin blanks and plates were being prepared, the Morgan Dollars were eventually chosen again for issue that year. Years later, the 1921 Morgan Dollar became one of the most sought after pieces by American currency buyers.

Silver Morgan Dollar Values

Although all of these coins meet the requirements of beauty and numerical quality, not all of them cost the same. There are a number of coins that are especially desired by American coin buyers. This list includes the Morgan Silver Dollars most sought after by collectors, based on year of issue, rarity, and type.

WARNING
Many fakes of these types of coin are made by counterfeiters. Before you buy a valuable Morgan Dollar, you should ask for identification from a third party certification company (known as TPG or TPGS) – such as NGC, PCGS, ICG or ANACS.
YearVariety
1881CC
1885CC
1889CC
1893CC
1893S
1895PROOF
1895S

1878 Morgan Silver Dollars – Rarities and Types

The fact that this dollar was issued with four different matrices gives rise to those rarities that are so profitable in collector coins.

morgan-dollars-1893
  • The first matrix represented the national symbol, the bald eagle of the United States, in which the tail had 8 feathers.
  • After realizing that this type of eagle only has 7 tail feathers, a new design was made.
  • In the third design, a double series of feathers is depicted. In the foreground there are 7 feathers.
  • In the fourth design, there are 7 tail feathers and the upper one is tilted in relation to the arrow. The bird’s breast is flat instead of rounded.
value-of-a-morgan-silver-dollar

Value of Silver Morgan Dollars and Conservation Status

To be considered in an uncirculated Mint state, our piece must be free of visible scratches or pecks, a perfectly preserved relief of the engraving and the original lustre of the metal.

Value of Morgan Silver Dollars – Average prices by year, mint, variety and condition

Here is a list of average prices for uncirculated and circulating coins.

Year – MintCirculated BuyCirculated SellUncirculated BuyUncirculated Sell
1878 8TF$80.00$50.00$220.00$150.00
1878 7/8TF Strong$41.00$26.00$220.00$140.00
1878 7TF Rev of 78$40.00$25.00$110.00$80.00
1878 7TF Rev of 79$44.00$28.00$150.00$100.00
1878-CC$120.00$80.00$460.00$310.00
1878-S$43.00$27.00$80.00$50.00
1879$28.00$18.00$71.00$52.00
1879-CC$180.00$110.00$5,100.00$3,400.00
1879-O$39.00$26.00$120.00$90.00
1879-S$30.00$19.00$66.00$45.00
1879-S Rev of 78$48.00$30.00$370.00$270.00
1880$34.00$22.00$58.00$39.00
1880-CC$170.00$110.00$550.00$400.00
1880-O$37.00$23.00$140.00$100.00
1880-S$29.00$19.00$49.00$35.00
1881$28.00$18.00$58.00$39.00
1881-CC$360.00$240.00$550.00$380.00
1881-O$39.00$25.00$58.00$43.00
1881-S$30.00$19.00$49.00$34.00
1882$29.00$18.00$49.00$33.00
1882-CC$110.00$70.00$220.00$160.00
1882-O$36.00$24.00$58.00$40.00
1882-O O/S$49.00$31.00$260.00$180.00
1882-S$28.00$18.00$49.00$33.00
1883$29.00$18.00$60.00$41.00
1883-CC$110.00$70.00$210.00$140.00
1883-O$29.00$18.00$45.00$32.00
1883-S$27.00$17.00$1,300.00$900.00
1884$28.00$19.00$55.00$39.00
1884-CC$140.00$100.00$220.00$160.00
1884-O$27.00$17.00$46.00$32.00
1884-S$27.00$17.00$14,200.00$10,000.00
1885$29.00$19.00$48.00$33.00
1885-CC$630.00$400.00$800.00$600.00
1885-O$27.00$18.00$45.00$30.00
1885-S$29.00$19.00$330.00$230.00
1886$29.00$18.00$42.00$29.00
1886-O$35.00$23.00$1,400.00$1,000.00
1886-S$50.00$32.00$410.00$290.00
1887$28.00$17.00$42.00$28.00
1887-6$41.00$28.00$390.00$270.00
1887-O$28.00$17.00$90.00$70.00
1887-O 7/6$46.00$30.00$900.00$600.00
1887-S$28.00$18.00$170.00$110.00
1888$33.00$20.00$46.00$34.00
1888-O$26.00$17.00$74.00$54.00
1888-S$120.00$70.00$400.00$290.00
1889$27.00$18.00$44.00$32.00
1889-CC$760.00$510.00$33,000.00$23,000.00
1889-O$28.00$18.00$290.00$200.00
1889-S$59.00$38.00$270.00$180.00
1890$27.00$18.00$47.00$32.00
1890-CC$100.00$70.00$580.00$400.00
1890-O$27.00$17.00$90.00$60.00
1890-S$30.00$19.00$80.00$60.00
1891$28.00$18.00$90.00$70.00
1891-CC$100.00$70.00$640.00$470.00
1891-O$27.00$17.00$220.00$160.00
1891-S$29.00$18.00$110.00$70.00
1892$39.00$26.00$340.00$230.00
1892-CC$190.00$120.00$1,600.00$1,200.00
1892-O$28.00$18.00$330.00$240.00
1892-S$42.00$27.00$57,000.00$41,000.00
1893$160.00$100.00$1,000.00$800.00
1893-CC$330.00$220.00$5,900.00$4,200.00
1893-O$200.00$140.00$4,500.00$3,300.00
1893-S$3,500.00$2,200.00$220,000.00$160,000.00
1894$800.00$500.00$3,600.00$2,600.00
1894-O$40.00$27.00$1,800.00$1,200.00
1894-S$61.00$41.00$1,100.00$800.00
1895 Prueba$30,000.0025,000.00$53,000.00$46,500.00
1895-O$230.00$140.00$22,000.00$14,000.00
1895-S$350.00$240.00$5,200.00$3,800.00
1896$27.00$17.00$42.00$31.00
1896-O$39.00$24.00$2,100.00$1,400.00
1896-S$47.00$30.00$3,300.00$2,200.00
1897$29.00$20.00$44.00$30.00
1897-O$29.00$20.00$1,500.00$1,100.00
1897-S$27.00$19.00$100.00$70.00
1898$29.00$19.00$44.00$32.00
1898-O$29.00$18.00$45.00$31.00
1898-S$38.00$24.00$320.00$220.00
1899$150.00$90.00$280.00$190.00
1899-O$28.00$19.00$51.00$36.00
1899-S$40.00$26.00$490.00$350.00
1900$27.00$17.00$44.00$29.00
1900-O$27.00$19.00$45.00$32.00
1900-O O/CC$63.00$41.00$450.00$320.00
1900-S$41.00$28.00$330.00$230.00
1901$44.00$27.00$4,400.00$3,000.00
1901-O$35.00$24.00$54.00$37.00
1901-S$39.00$27.00$610.00$430.00
1902$36.00$22.00$110.00$70.00
1902-O$37.00$23.00$46.00$32.00
1902-S$100.00$70.00$480.00$350.00
1903$42.00$28.00$80.00$50.00
1903-O$340.00$210.00$440.00$330.00
1903-S$100.00$60.00$6,300.00$4,500.00
1904$33.00$21.00$160.00$120.00
1904-O$36.00$25.00$65.00$45.00
1904-S$45.00$30.00$3,500.00$2,400.00
1921$24.00$15.00$38.00$27.00
1921-D$23.00$15.00$50.00$37.00
1921-S$27.00$17.00$48.00$33.00
96 pieces complet set
$12,000.00$8,000.00$410,000.00$300,000.00
28 pieces year set
$1,200.00$800.00$9,100.00$6,500.00

History of Morgan’s Dollars

In the letter to the Royal Mint in London, the Director of the United States Mint expressed his concerns about the poor acceptance of the coin designs among the American population. For this reason, the Director asked his counterpart if there existed any engraver available in London capable of carrying out this task.

Thus, on September 27, 1876, Mr. George T. Morgan embarked from Liverpool on the cruise ship “Illinois”. 12 days later he arrived in Philadelphia.

In 1878, the Blend-Allison Act was passed, ordering the minting of between 2 and 4 million dollars a month. This served two purposes:

  • It defended the interests of the companies that exploited silver mines, since the price of this metal was slowly falling.
  • It created an artificial inflation, used to encourage consumption.
  • Thus was born the most iconic currency in all American numismatics, the Silver Morgan dollar, with a diameter of 1.5 inches (38.1 mm) and a weight of 26.73 g, in which 90% is silver and the remaining 10% copper.

What a Morgan Dollar looks like

On the obverse side we find an allegory of Freedom portrayed with a Phrygian cap, a crown with cotton branches and wheat, and a tiara with the legend “LIBERTY” – a recurrent theme in American coins. In the legend, we read “E PLURIBUS UNUM”, an old American national motto, which means “From many, one”; and under the bust we find the minting date of the coin, surrounded by thirteen stars, one for each of the 13 original Colonies that became independent from the United Kingdom.

On the back we see a bald eagle with its wings spread, holding an olive branch in one of its talons as a symbol of peace. On the other side, three arrows symbolize that the country “wishes for peace, but is prepared for war”, all surrounded by an olive wreath. On the eagle, we find the motto “IN GOD WE TRUST”, the current motto of the nation. In the legend, we read the face value of the coin and the issuing entity of the same “UNITED STATES OF AMERICA” and “ONE DOLLAR”.

Rare Morgan Dollars – Wide Reeding

In the Morgan Dollar, we can highlight the Wide Reeding variant. In it, the notches along the coin edge are further apart than in the standard wedges; and instead of 189 notches, they have 157. We can see it in the image, on the center piece.

rare morgan dollar

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