Top 30 Most Valuable Morgan Silver Dollars
The value of collectible Morgan silver dollars varies widely, with some fetching as much as $300,000.
Top 30 Most Valuable Morgan Silver Dollars
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Morgan silver dollars were 90 percent silver, one-dollar coins minted between 1878 and 1904, with a special one-off production in 1921 — but their history goes back a bit further.
The Comstock Lode, a massive silver discovery in 1859, flooded the U.S. market with silver and caused the value of silver coins to drop. As a result, in 1873, the Coinage Act stopped the production of silver coins in the United States. Eventually, the silver supply dropped, and the U.S. government passed the Bland-Allison Act to reinstate a silver coin in 1878 and appointed the task to U.S. Mint Director Henry Linderman.
Linderman held a competition for the design of a new silver dollar, which was won by English engraver, George Morgan. Morgan used his fiancee, schoolteacher Anna Williams, as the model for the head of Liberty on one side of the coin. The reverse shows an American eagle holding a clutch of arrows, with the words “United States One Dollar.” The new coins were called Morgan silver dollars after their designer.
The History of the Production of Morgan Dollars
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Before we can talk about the most valuable Morgan silver dollars, we wanted to give you a bit more insight into the production of these coins. They were made in five different U.S. Treasury locations, and each mint had its own special letter designation stamped on the coins. These locations were Carson City (“CC”), New Orleans (“O”), San Francisco (“S”), Denver (“D”) and Philadelphia (no mark).
Although Morgan silver dollars are still legal tender in the U.S., they are worth far more than just $1 to coin collectors. Today, Morgans range considerably in value. Their price depends on several factors, including the number of coins minted in a specific year, the city where they were made and the coin’s current condition, with uncirculated coins being more rare and valuable.
So which ones are worth the most valuable collectibles? These are the top 30 most valuable Morgan silver dollars, according to USA Coin Book and Coin HelpU.
30. 1892-O Morgan Silver Dollar, Mint and Uncirculated
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Value:$5,750
What Makes It So Valuable
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The 1892-O Morgan dollar coin was made at the New Orleans Mint, which used the O letter mark. That year, the Louisiana facility made 2.74 million Morgan dollars. Today, prices start at $40 for a coin in very good, circulated condition (VG-8) and go up to $5,750 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65).
29. 1890-CC Morgan Silver Dollar, Mint and Uncirculated
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Value: $6,000
What Makes It So Valuable
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The 1890-CC Morgan dollar coin was made at the Carson City Mint, which used the double C letter mark. The Nevada facility made 2.3 million coins that year. Prices start at $95 for a coin in very good, circulated condition (VG-8) and go up to $6,000 for a coin in mint condition that has never been circulated.
28. 1894-S Morgan Silver Dollar, Mint and Uncirculated
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Value: $6,040
What Makes It So Valuable
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The 1894-S Morgan dollar coin was made at the San Francisco Mint, which used the S letter mark. In 1894, the California facility produced 1.26 million Morgan dollars in total. Prices start at $50 for a coin in very good, circulated condition (VG-8) and go up to $6,040 if it hasn't been circulated.
27. 1879-S Morgan Silver Dollar Reverse of 1878, Mint and Uncirculated
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Value: $6,233
What Makes It So Valuable
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The 1879-S Morgan dollar coin was also made at the San Francisco Mint. In 1879, the California facility produced 8.6 million Morgan dollars in total. Of these, 500,000 used a reverse of the 1878 design, so the eagle and the arrows appear flatter. Prices start at $32 for a coin in good, circulated condition (G-4) and go up to $6,233 for a coin in mint condition.
26. 1891-O Morgan Silver Dollar, Mint and Uncirculated
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Value: $8,500
What Makes It So Valuable
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The 1891-O Morgan dollar coin was made at the New Orleans Mint. In 1891, the Louisiana facility made 7.95 million Morgan dollars. Prices start at $27 for a coin in good, circulated condition (G-4) and go up to $8,500 for an impeccable coin.
25. 1903-S Morgan Silver Dollar, Mint and Uncirculated
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Value: $9,800
What Makes It So Valuable
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The 1903-S Morgan dollar coin was made at the San Francisco Mint, which made 1.24 million Morgan coins that year. Prices start at $100 for a coin in very good, circulated condition (VG-8) and go up to $9,800 for a coin in mint condition that has never been circulated.
24. 1904-S Morgan Silver Dollar, Mint and Uncirculated
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Value: $10,000
What Makes It So Valuable
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The 1904-S Morgan dollar coin was also made at the San Francisco Mint, which made 2.3 million Morgan coins that year. Prices start at $40 for this coin but can go as high as $10,000 for one in mint condition that has never been circulated, with a high-quality silver luster (MS-65).
23. 1896-S Morgan Silver Dollar, Mint and Uncirculated
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Value: $17,250
What Makes It So Valuable
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Another coin that was made at the San Francisco Mint, the 1896-S Morgan dollar coin is one of 5 million Morgan coins made in the California location that year. Prices start at $29 for a coin in very good, circulated condition (VG-8), but you can earn a whopping $17,250 for a coin in mint condition that has never been circulated.
22. 1883-S Morgan Silver Dollar, Mint and Uncirculated
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Value: $20,000
What Makes It So Valuable
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The 1883-S Morgan dollar coin was made at the San Francisco Mint as one of 6.25 million Morgan coins that were made that year. Prices start at $29 for a coin in very good, circulated condition (VG-8) and go up to $20,000 (MS-65).
21. 1888-O Double-Die Obverse “Hot Lips” Morgan Silver Dollar, Mint and Uncirculated
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Value: $22,441
What Makes It So Valuable
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The 1888-O Morgan dollar coin was made at the New Orleans Mint. That year, the Louisiana facility struck a run of coins with a double-die mark on the face of Lady Liberty. Her lips, nose and chin all show a doubling effect, which is why the coin’s nickname is “Hot Lips.” A mint, uncirculated version of the double-die Morgan dollar is worth $22,441.
20. 1895-S Morgan Silver Dollar, Mint and Uncirculated
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Value:$25,300
What Makes It So Valuable
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The 1895-S Morgan dollar coin was made at the San Francisco Mint and is rare, as it's only one of 400,000 Morgan coins made that year. Prices start at $350 for a coin in very good, circulated condition (VG-8) and go up to $25,300 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65).
19. 1893-CC Morgan Silver Dollar, Mint and Uncirculated
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Value: $30,000
What Makes It So Valuable
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The 1893-CC Morgan dollar coin was made at the Carson City Mint. The Nevada facility made 677,000 coins that year. Prices start at $225 for a coin in very good, circulated condition (VG-8), you can earn up to $30,000 for a coin in mint condition.
18. 1887-O “7 Over 6” Morgan Silver Dollar
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Value: $30,724
What Makes It So Valuable
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The 1887-O Morgan dollar coin was made at the New Orleans Mint. That year, the Louisiana facility re-used dies from 1886, altering the six to a seven, and part of the six can still be seen on the 1887 coins. Prices start at $47 for a coin in good, circulated condition (G-4) and go up to $30,724 for a coin in mint condition.
17. 1879-CC Clear CC Morgan Silver Dollar, Mint and Uncirculated
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Value: $32,225
What Makes It So Valuable
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The 1879-CC Clear CC Morgan dollar coin was made at the Carson City Mint. The Nevada facility made 756,000 Morgans that year, including ones with both clear and double-stamped CC marks. Prices start at $150 for a coin in very good, circulated condition (VG-8), and go up to $38,000 for a coin in mint condition.
16. 1894-O Morgan Silver Dollar, Mint and Uncirculated
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Value: $40,000
What Makes It So Valuable
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The 1894-O Morgan Dollar coin was made at the New Orleans Mint, and the Louisiana facility made roughly 9.7 million Morgan coins that year. Prices for an 1894-O Morgan dollar start at as low as $50 but can go for up to $40,000.
15. 1901 Double Die Reverse “Shifted Eagle” Morgan Silver Dollar
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Value: $41,125
What Makes It So Valuable
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The 1901 Double Die Reverse, or Shifted Eagle, Morgan dollars were made at the Philadelphia Mint and don’t bear a letter mark. The figure of the eagle on the coin’s reverse side was double stamped, and the beak, feathers and arrows all appear slightly duplicated. Only 1,000 of these coins still exist, and only 10 in mint, uncirculated condition. Prices start at $300 for a coin in good, circulated condition (G-4) and go up to $41,125 for a mint, uncirculated coin (MS-65).
14. 1894 Unmarked Morgan Silver Dollar, Mint and Uncirculated
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Value: $45,250
What Makes It So Valuable
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The Philadelphia Mint was the only facility that did not put a letter mark on Morgan dollars. Since the Pennsylvania facility only made 110,000 silver dollars in 1894, these coins are considered the second rarest of all Morgan dollars and are often forged from less valuable 1894 dollars. Prices for a 1894 unmarked Morgan Dollar start at $1,200 for a coin in very good, circulated condition (VG-8) and go up to $45,250 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65).
13. 1879-CC Over CC Morgan Silver Dollar, Mint and Uncirculated
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Value: $45,526
What Makes It So Valuable
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The 1879-CC Morgan dollar coin was made at the Carson City Mint. Due to a bad die, the coins were struck twice with the mark, resulting in a doubled effect. The Nevada facility made 756,000 of these double-stamped Morgans in 1879. Prices for these particular coins start at $195 for one in good, worn condition (G-4) and go up to $45,526 for a coin in mint condition that has never been circulated (MS-65).
12. 1878 “O Over S” Morgan Silver Dollar, Mint and Uncirculated
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Value: $45,576
What Makes It So Valuable
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In 1878, dies that were originally made for the San Francisco Mint with the letter S were altered to the letter O for the New Orleans Mint. The middle of the S can be seen on this coin inside the O. It’s unknown how many of these hybrids were struck. Prices for an “O over S” Morgan dollar start at $44 for a coin in good but worn condition (G-4) and go up to $45,576 for a coin in mint condition that has never been circulated (MS-65).
11. 1897-O Morgan Silver Dollar, Mint and Uncirculated
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Value: $56,000
What Makes It So Valuable
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The 1897-O Morgan dollar coin was made at the New Orleans Mint and was one of about 4 million Morgan coins manufactured that year. Prices for an 1897-O Morgan dollar start at $29 for a coin in very good, circulated condition (VG-8) and go up to $56,000 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65).
10. 1896-O Morgan Silver Dollar, Mint and Uncirculated
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Value: $69,000
What Makes It So Valuable
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The 1896-O Morgan Dollar coin was made at the New Orleans Mint. The Louisiana facility made 4.9 million Morgan coins that year. Prices for an 1896-O Morgan Dollar start as low as $34 for a coin in very good, circulated condition (VG-8) and go up to $69,000 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65).
9. 1895 Morgan Silver Dollar Proof
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Value: $80,000
What Makes It So Valuable
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Morgan dollar, proof coins were made in small, limited productions and given special care. The coins were polished and handled carefully to avoid being marked. Proof coins were usually given as gifts to politicians or visiting dignitaries, and few survive today. The Philadelphia Mint’s 1895 proof production is believed to have consisted of only 12,000 coins. Prices for these special Morgan dollars start at $17,000 for a coin in very good condition (VG-8) and go up to $80,000 for one in mint, uncirculated condition (MS-65).
8. 1893-O Morgan Silver Dollar, Mint and Uncirculated
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Value: $115,000
What Makes It So Valuable
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The New Orleans Mint made only 300,000 of the 1893-O Morgan dollar coins, which makes them one of the rare coins on this list. Prices start at $200 for a coin in very good, circulated condition (VG-8) and go up to as high as $115,000.
7. 1892-S Morgan Silver Dollar, Mint and Uncirculated
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Value: $125,000
What Makes It So Valuable
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The 1892-S Morgan dollar coin was made at the San Francisco Mint and was one of 1.2 million Morgan coins made that year. Prices start at a mere $35 for a coin in very good, circulated condition but can fetch up to $125,000 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65).
6. 1895-O Morgan Silver Dollar, Mint and Uncirculated
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Value: $126,500
What Makes It So Valuable
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The 1895-O Morgan Dollar coin was made at the New Orleans Mint, which made 450,000 Morgan coins that year. Prices start at $300 for a coin in very good, circulated condition (VG-8) and go up to $126,500.
5. 1884-S Morgan Silver Dollar, Mint and Uncirculated
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Value: $149,500
What Makes It So Valuable
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The San Francisco Mint made 3.2 million of the 1884-S Morgan dollar coins. Prices start at $34 for a coin in very good, circulated condition (VG-8), but very lucky collectors can get as much as $149,500 for one in mint condition.
4. 1886-O Morgan Silver Dollar, Mint and Uncirculated
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Value: $150,000
What Makes It So Valuable
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The 1886-O Morgan dollar coin was made at the New Orleans Mint, which made 10.7 million Morgan coins that year. Prices start at only $29 for a coin in very good, circulated condition and go up to $150,000 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65).
3. 1901 Unmarked Morgan Silver Dollar, Mint and Uncirculated
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Value: $300,000
What Makes It So Valuable
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The 1901 unmarked Morgan Dollar coin was made at the Philadelphia Mint, which was the only facility that did not put a letter mark on Morgans. The Pennsylvania facility made over 6 million silver dollars that year. Prices start at $20 for a coin in very good, circulated condition (VG-8) and go up to $300,000 for a coin in mint condition. This one is tied with the next two on this list, but we've ranked them in order based on their starting prices.
2. 1889-CC Morgan Silver Dollar, Mint and Uncirculated
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Value: $300,000
What Makes It So Valuable
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The 1889-CC Morgan dollar coin was made at the Carson City Mint, which only made 350,000 Morgans that year. Prices start at $550 for a coin in very good, circulated condition (VG-8), and go up to $300,000.
1. 1893-S Morgan Silver Dollar, Mint and Uncirculated
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Value: $300,000
What Makes It So Valuable
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The 1893-S Morgan dollar coin was made at the San Francisco Mint. This is the rarest of all Morgan dollars, as only 100,000 were produced in the California facility that year. Consequently, this coin has the highest number of forgeries. Prices start at $2,430 for a coin in very good, circulated condition (VG-8), and go up to $300,000.