The value of an 1898 Morgan silver dollar depends on several factors, primarily its condition (grade) and the mint where it was produced.
- Circulated vs. Uncirculated: Coins in circulated condition are worth less than those in uncirculated, or “Mint State”, condition.
- Mint Mark: There are three possible mint marks for an 1898 Morgan dollar:
– Philadelphia (P): No mint mark is present. These are generally the most common.
– New Orleans (O): Identified by an “O” mint mark.
– San Francisco (S): Identified by an “S” mint mark. These are considered scarcer than the Philadelphia issue.
- Condition (Grade): Professional grading services like NGC (Numismatic Guaranty Corporation) and PCGS (Professional Coin Grading Service) assign grades based on a coin’s condition. Grades range from Good (G) for heavily worn coins to Mint State (MS) for uncirculated coins, with numerical grades like MS63 and MS65 indicating increasingly better condition.
- Rarity: Certain mint mark and year combinations can be rarer and more valuable than others. The 1898-S, in particular, is scarcer than the Philadelphia issue.
- General Circulated Condition: An 1898 Morgan dollar in circulated condition is typically worth between $45.50 and $63, according to the [NGC Price Guide].
- Mint State (Uncirculated) Condition: Prices can range dramatically depending on the specific grade:
– Common Mint State (e.g., MS60-MS64): Expect values generally ranging from the tens to hundreds of dollars.
– Higher Mint State (e.g., MS65 and above): These can reach into the thousands of dollars, especially for scarce mint marks and very high grades. For example, an 1898 O Morgan Dollar in MS67+ can sell for as much as $9200. An 1898 S Silver Dollar can sell for up to $100000 in pristine, uncirculated condition.
| Mint Mark | Grade | Value Range | Source |
|—|—|—|—|
| Philadelphia | G | $47.50 | |
| Philadelphia | MS63 | $110 – $125 | |
| Philadelphia | MS65 | $250 – $275 | |
| Philadelphia | MS67 | $3000 – $7500 | |
| New Orleans | G | $47.50 | |
| New Orleans | MS63 | $110 – $125 | |
| New Orleans | MS65 | $215 – $260 | |
| New Orleans | MS67 | $1300 – $9200 | |
| San Francisco | G | $47 | |
| San Francisco | MS63 | $935 – $1000 | |
| San Francisco | MS65 | $2100 – $2350 | |
| San Francisco | MS67 | Up to $30000 | |
| San Francisco | MS68 | Up to $100000 | |
The value of an 1898 Morgan silver dollar depends heavily on its condition and the mint where it was struck. Higher-grade examples, especially those from the San Francisco Mint, command significantly higher prices than common circulated coins. If you own an 1898 Morgan dollar and wish to determine its value more precisely, it’s recommended to have it professionally graded by a reputable service like NGC or PCGS.
What year is a rare dollar coin?
The 1933 Saint-Gaudens Double Eagle dollar coin is notably rare — believed to have only 13 specimens in existence, one of these precious coins sold for an astonishing $18.9 million in 2021!
How much silver is in a 1898 Morgan Silver Dollar?
1898 Morgan Silver Dollar – San Francisco – Circulated
Made out of nearly 1 full ounce of . 900 pure silver from the famous silver discovery. It was 1st struck in 1878 and continued until 1904 and then again for one final year in 1921.