Morgan Silver Dollars, minted between 1878-1904 and in 1921, hold a special place in American numismatic history. Designed by George T. Morgan, these coins are not only admired for their timeless appearance but also valued for their historical significance. Depending on their mint year, mint mark, and condition, some Morgan Silver Dollars are worth thousands, even hundreds of thousands of dollars. Let’s explore the top ten most valuable Morgan Silver Dollars and their unique qualities.
Top 10 Most Valuable Morgan Silver Dollars
1. 1893-S Morgan Silver Dollar
The 1893-S Morgan Silver Dollar is one of the rarest and most valuable coins in the series. With a mintage of just 100,000, it is the lowest of any Morgan Dollar struck at the San Francisco Mint. This scarcity makes it highly sought after by collectors. Depending on the coin’s condition, its value can range from $100,000 to $500,000 for Mint State specimens, while even lower-grade examples may sell for around $5,200.
2. 1889-CC Morgan Silver Dollar
The 1889-CC Morgan Dollar, minted in Carson City, is another scarce coin with a mintage of just 350,000. Most of these coins were quickly released into circulation, making well-preserved examples exceptionally rare. In Mint State 65 (MS65) condition, this coin can fetch over $300,000, while lower-grade versions still command prices between $1,000 and $7,000.
3. 1895 Morgan Silver Dollar Proof
Often referred to as the “King of the Morgan Dollars,” the 1895 Morgan Dollar was produced in very limited numbers, with only 880 proof coins minted. High-grade proof coins can sell for up to $80,000, while even lower-grade examples start at around $17,000, highlighting their continued desirability among collectors.
4. 1894 Morgan Silver Dollar
With a mintage of just 110,000, the 1894 Morgan Silver Dollar is one of the lowest-mintage coins in the series, making it highly valuable. Struck at the Philadelphia Mint, this coin holds significant historical appeal. Uncirculated examples have been known to sell for up to $50,000, while circulated pieces can still command around $1,000.
5. 1884-S Morgan Silver Dollar
The 1884-S Morgan Dollar is considered scarce in high grades despite an original mintage of nearly 3 million coins. Few have survived in mint condition, with notable examples like the “Wonder Coin” fetching $750,000 at auction. Even in lower grades, these coins are highly sought after, with values typically ranging from $42 to $75.
6. 1886-O Morgan Silver Dollar
Although more than 10 million 1886-O Morgan Dollars were struck at the New Orleans Mint, their poor minting quality has resulted in only a few surviving in excellent condition. In MS65 grade, this coin can sell for up to $130,000, while more worn examples can range from $42 to $75.
7. 1901-S Morgan Silver Dollar
The 1901-S Morgan Dollar is one of the rarest in good grades, with just 1.2 million coins minted in San Francisco. Circulated coins can be valued at around $85, but well-preserved examples in higher grades may sell for as much as $120,000.
8. 1885-CC Morgan Silver Dollar
The 1885-CC Morgan Dollar is among the rarest coins minted by the Carson City Mint, with only 228,000 produced. Many of these coins were never used, adding to their rarity. Poor-condition examples are valued at approximately $440, while near-perfect specimens can reach $130,000.
9. 1883-O Morgan Silver Dollar (Proof)
The 1883-O Morgan Dollar Proof is one of the most valuable proofs in the series. As a presentation piece rather than a circulated coin, it is exceptionally rare. One of these proofs sold for a remarkable $270,000, making it a coveted item for serious collectors.
10. 1893-O Morgan Silver Dollar
The 1893-O Morgan Dollar, struck at the New Orleans Mint, had a mintage of just 300,000, making it the lowest-mintage Morgan from this mint. Due to its rarity, the coin is valuable in both circulated and uncirculated conditions. Worn examples can cost around $300, while higher-quality specimens may sell for up to $775.
| Coin Name | Mintage | Low-End Value | High-End Value |
|---|---|---|---|
| 1893-S Morgan Silver Dollar | 100,000 | $5,200 | $500,000 |
| 1889-CC Morgan Silver Dollar | 350,000 | $1,000 | $300,000+ |
| 1895 Morgan Dollar Proof | 880 (Proof) | $17,000 | $80,000 |
| 1894 Morgan Silver Dollar | 110,000 | $1,000 | $50,000 |
| 1884-S Morgan Silver Dollar | 3,200,000 | $42 | $750,000 |
| 1886-O Morgan Silver Dollar | 10,710,000 | $42 | $130,000 |
| 1901-S Morgan Silver Dollar | 1,200,000 | $85 | $120,000 |
| 1885-CC Morgan Silver Dollar | 228,000 | $440 | $130,000 |
| 1883-O Morgan Dollar (Proof) | Few (Proof) | Varies | $270,000 |
| 1893-O Morgan Silver Dollar | 300,000 | $300 | $775 |
The scarcity and historical value of Morgan Silver Dollars make them highly appealing to collectors. Understanding which coins are the most valuable can help identify potentially significant finds, even for beginners.
Why are Morgan Silver Dollars so valuable?
Their value comes from a combination of historical significance, rarity, and condition. Coins with lower mintages or superior preservation typically command higher prices.
How can I tell if my Morgan Silver Dollar is valuable?
Look for key details such as the mint year, mint mark, and the coin’s condition. Having the coin professionally graded can also help determine its value.
Are all Morgan Silver Dollars made of pure silver?
Morgan Silver Dollars are composed of 90% silver and 10% copper, containing roughly 0.7734 troy ounces of silver.
