US Morgan Silver Dollar 1878 to 1921

US Morgan Silver Dollar 1878 to 1921

These US silver dollars were designed by a man named George Morgan, so collectors call them Morgan Dollars. They are highly prized collectibles.

Most Morgans you see today are 'common date' coins. 1921 is the most common of the common dates, as hundreds of millions of them were made. Coins with better dates, not common dates, are listed below. They are more valuable.

To figure the value of a US Morgan silver dollar, start with its basic silver value. Each Morgan silver dollar coin contains 0.773 troy ounces of silver. Use a web site such as kitco.com to find the current price of silver in US dollars per troy ounce, then multiply that price by 0.773 to calculate the base value (BV) of the coin. The value can never go lower than BV. For instance, if the value of silver is $20 per troy ounce, the base silver value would be 0.773 x 20 = $15.50.

NEVER CLEAN A COIN. CLEANING RUINS VALUE.

Never clean or polish Morgan dollars. Cleaning, polishing, scraping, sanding, brushing, using steel wool, and all abrasive procedures ruin value.

Values appear on this page for common dates first, then the better dates. Common dates are those that do not appear in the better date listing. To attain these values, a coin must be free of all problems such as scratches, spots, stains, cleanings, nicks, holes, dings, scuffs, and any other kind of damage. However, if you have a damaged Morgan dollar, it still carries Base Value (BV) due to silver content.

COMMON DATE MORGAN DOLLARS (except coins dated 1921, see next):
worn: BV + $3 approximate catalog value
average circulated: BV + $5
well preserved: BV + $10
fully uncirculated: BV + $30

MORGAN DOLLARS DATED 1921 (includes coins with mint marks):
circulated: BV + $3 approximate catalog value
fully uncirculated: BV + $15

The values above are approximate catalog values. Retail prices usually run about 3/4 catalog value. That is, if catalog value is $50, retail price is about $38. Retail prices are those paid by collectors or investors for Morgans they buy from coin dealers. If you want to sell your Morgan dollar to a coin dealer, he or she will pay substantially less than retail, usually about one-half catalog value. For single coins, margins can be as high as 100%, that is, a dealer buys a coin for one-half of what he or she can sell it for. When a deal includes large numbers of coins, margins go way down. Coin dealers use the margins to keep their business afloat.

Note: if you have a 1921 peace silver dollar, and not a 1921 Morgan silver dollar (the picture on this page shows a Morgan dollar), you have a valuable coin. See our appraisal page for peace dollars at this link.

There are particular dates and mint marks in the Morgan dollar series that are better dates. Look for the mint mark (S, O, or CC) under the wreath on the back of the coin. Those with CC mint marks (CC = Carson City, Nevada mint), command especially high prices.

The list below shows better date Morgans. The values at the right of each date is an approximate catalog value for coins in average circulated condition. To attain these values, a coin must be free of all problems such as scratches, spots, stains, cleanings, nicks, holes, dings, scuffs, and any other kind of damage. Coins in better condition, e.g., well preserved, fully uncirculated, are worth much more. Coins in worn condition are worth about one-third of these values.

BETTER DATES (for common dates, see the table further up on this page)
1878CC: $125 US dollars approximate catalog value
1879CC: $330
1880CC: $220
1881CC: $400
1884CC: $150
1885CC: $600
1888S: $125
1889CC: $1100
1892CC: $250
1892S: $120
1893: $220
1893CC: $600
1893O: $300
1893S: $5200
1894: $925
1895: $40000 (counterfeits abound)
1895O: $350
1895S: $700
1899: $170
1902S: $140
1903O: $350
1903S: $270

Be sure you understand what 'catalog' means, as this is an inflated value. Check our Terminology page for an explanation.

Hope you have an 1895!

Coin: 832, Genre: United States, Timeline: World
Created (yyyymm): 200906, Last review: 202312
Appearance: Normal round coin Metallic gray Letters: Latin
Years: sort: 1878, filter: 1878 to 1921
Image: us_morgan_dollar_unc.jpg

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