The value of a 1 dollar coin can vary significantly depending on several factors, including:
- Precious Metal Content: Older silver dollars (minted before 1964) contain 0.773 troy ounces of 90% silver, making their melt value tied to the current price of silver. For example, with silver at $37.81/ounce (as of August 12, 2025), a common date Morgan or Peace dollar would be worth at least $29.43 based on its silver content. Gold dollar coins are also valued for their gold content, [according to Coinfully].
- Age and Rarity: Older and rarer coins generally command higher values.
- Condition and Grade: The better the condition, the higher the value. Professional grading services like PCGS and NGC can provide an objective assessment of a coin’s condition.
- Mintage Numbers and Key Dates: Coins with low mintage figures or those designated as “key dates” (certain years or mint marks that are harder to obtain to complete a series) are generally more valuable.
- Errors and Varieties: Coins with minting errors or unique varieties can be particularly valuable to collectors.
- Collector Demand: The popularity and demand for a particular type of dollar coin can impact its value. Morgan and Peace dollars are two of the most popular series, [according to APMEX].
- Modern dollar coins (Sacagawea, Presidential, Native American): Most circulate at face value ($1). However, special collector versions or those in high grades can fetch $4-$12. Error coins, like the Sacagawea 2000 P error, can be worth significantly more, with some listed for thousands of dollars. A rare Sacagawea Cheerios dollar can also be worth a substantial amount, with one listed for $52,000.
- Silver dollar coins (pre-1935): Common dates are generally worth $35-$45 due to their silver content. Rare dates can be worth hundreds or even thousands of dollars. For example, the 1893-S Morgan dollar is considered a key date and one sold for over $2 million in 2021.
- Modern Silver Eagles (1986-present): These contain a full troy ounce of silver and are valued mainly for their metal content, currently around $38.05.
- Gold dollar coins: All gold dollar coins have value, with some particularly rare ones, such as the 1849-C Liberty Coronet, being worth hundreds of thousands of dollars, [according to Coinfully].
In summary, while many modern dollar coins are only worth face value, older silver and gold dollar coins, key dates, errors, and varieties can be worth significantly more. If you have a dollar coin that you believe might be valuable, consider getting it appraised by a professional or using online resources like the PCGS Price Guide or NGC Price Guide to determine its potential worth.
How to tell if a $1 coin is rare?
Examine the Coin’s Date
One of the easiest ways to tell if a coin is rare is to check the date. If the coin is from before 1800, it’s likely rare. Coins minted in the 19th century are also generally considered rare, with a few exceptions.
Why is the 2005 $1 coin rare?
Good point! One such rarity is the 2005 proof kangaroo dollar. Struck by mistake in 2006 and issued in the 2006 proof set, the coin is rare because the official proof dollar minted in 2005 had a completely different design, thus making the 2005 proof dollar with the kangaroo design extremely rare.