The value of a Morgan silver dollar can vary greatly, depending on several factors.
Here’s a breakdown of the elements that determine its worth
- Mint State (MS) Coins: These coins have never been in circulation and retain their original luster.
– They are graded on a 70-point scale (Sheldon scale), with 70 representing a perfect coin.
– MS65 or higher (“Gem Uncirculated”): Highly desirable and command higher prices.
– PL (Prooflike) and DMPL (Deep Mirror Prooflike) designations: Indicate mirrored surfaces and can significantly increase value.
- Circulated Coins: Coins that have been used and show wear.
– Values typically start around $20-$30 for common dates in average circulated condition.
– Heavily worn examples: May only be worth their silver melt value.
– Cleaning a coin: Can significantly reduce its numismatic value.
- Carson City Mint (CC): Coins from this mint are often more valuable due to their lower mintage numbers.
- Rare Years/Mint Marks: Certain combinations, like the 1893-S, are exceedingly rare and can command high prices.
- No Mint Mark: Indicates the coin was minted in Philadelphia.
- Low Mintage: Fewer coins produced in a particular year or mint leads to higher rarity and value.
- Errors and Varieties (VAMs): Certain errors or variations in the coin’s design, like the “Scarface” or “Hot Lips” varieties, can make them more collectible and valuable.
- All Morgan silver dollars contain .77344 troy ounces of silver.
- Their intrinsic value is tied to the current price of silver bullion.
- However, for collectible coins, the numismatic value (collector’s value) often outweighs the silver content.
- Common Date Circulated (VG-VF): ~$35.99
- Common Date Uncirculated (MS63): $82.35 – $78.23
- 1892-O Morgan S$1 MS66: $27,000
- 1921 Morgan silver dollar RARE DATE ERROR Graded PCGS MS 62: $20,000
- For an accurate valuation of your Morgan dollar, especially if you suspect it might be valuable, it’s recommended to consult a reputable coin dealer or a professional appraisal service like Coinfully.
- Avoid cleaning your coins as it can drastically decrease their value.
- Consider having rare examples professionally graded by PCGS or NGC to maximize their sale value.
Are Morgan coins valuable?
While common in low grades, the 1884-S Morgan Dollar is a very rare coin in Uncirculated condition. If you have a piece graded PCGS Mint State 65 it could be worth a price more than $100,000 ! At San Francisco, in 1884, this Morgan silver dollar was produced with a high mintage for circulation.
How old are the Morgan coins?
The Morgan dollar is a United States dollar coin minted from 1878 to 1904, in 1921, and beginning again in 2021 as a collectible.
How many Morgan coins are there?
With over 657 million Morgan silver dollars minted, exhibiting 96 date and mint mark combinations, it is no wonder that the “Morgan” is heralded as one of the most collectible coins in America.