The Morgan Silver Dollar, minted from 1878 to 1921, remains one of the most cherished coins among collectors and investors. Its rich history, combined with varying mintages and conditions, significantly influences its market value. This guide delves into the factors affecting the value of Morgan Silver Dollars and provides a detailed value chart for key dates and mint marks.
Factors Influencing Morgan Silver Dollar Values
Several elements determine the worth of a Morgan Silver Dollar:
- Date and Mint Mark: Coins from certain years and mints, especially those with lower production numbers, are rarer and thus more valuable.
- Condition (Grade): The coin’s state of preservation plays a crucial role. Coins are graded on a scale from Good (G-4) to Mint State (MS-65 and above), with higher-grade coins fetching premium prices.
- Mintage Numbers: Lower mintage often correlates with higher value due to scarcity.
- Historical Significance: Coins associated with significant historical events or those with unique stories may carry added value.
Morgan Silver Dollar Value Chart
Below is a value chart for select Morgan Silver Dollars, highlighting their approximate values based on condition. Please note that actual market values can fluctuate based on demand and other factors.
| Year | Mint Mark | Good (G-4) | Fine (F-12) | Extremely Fine (EF-40) | Uncirculated (MS-60) |
|---|---|---|---|---|---|
| 1878 | CC | $113 | $153 | $174 | $318 |
| 1879 | CC | $182 | $345 | $1,671 | $4,798 |
| 1880 | CC | $226 | $280 | $301 | $350 |
| 1881 | CC | $420 | $399 | $500 | $440 |
| 1885 | CC | $550 | $600 | $700 | $1,200 |
| 1889 | CC | $1,000 | $2,500 | $10,000 | $50,000 |
| 1893 | S | $2,000 | $5,000 | $20,000 | $100,000 |
| 1895 | (Proof Only) | N/A | N/A | N/A | $50,000 |
Note: Values are approximate and can vary based on the coin’s condition and the current market demand.
Notable High-Value Morgan Silver Dollars
- 1889-CC Morgan Dollar: Minted at the Carson City Mint, this coin had a low mintage of approximately 350,000. High-grade specimens, especially those graded MS65+, can command prices upwards of $660,000.
- 1893-S Morgan Dollar: With a mintage of just 100,000, it’s one of the rarest in the series. Coins in uncirculated condition can fetch over $100,000.
- 1895 Morgan Dollar: Known as the “King of Morgan Dollars,” the Philadelphia Mint produced only proof versions, making it highly sought after by collectors.
Tips for Collectors and Investors
- Authenticate Your Coins: Due to the high value of certain Morgan Dollars, counterfeits exist. Ensure coins are authenticated by reputable grading services like PCGS or NGC.
- Preserve Coin Condition: Store coins in a controlled environment, using protective holders to prevent damage and maintain their condition.
- Stay Informed: Regularly consult updated price guides and market analyses to make informed buying or selling decisions.
- Consider Historical Context: Understanding the historical background of specific coins can provide insights into their rarity and potential value appreciation.
Frequently Asked Questions (FAQs)
- What makes the 1889-CC Morgan Dollar so valuable?
- Its low mintage of 350,000 coins, combined with the historical significance of the Carson City Mint, makes high-grade specimens extremely rare and valuable.
- How can I determine the mint mark on my Morgan Silver Dollar?
- The mint mark is located on the reverse side, just above the “D” and “O” in “DOLLAR.” Common mint marks include CC (Carson City), S (San Francisco), O (New Orleans), and no mark for Philadelphia.
- Why is the 1895 Morgan Dollar referred to as the “King of Morgan Dollars”?
- The Philadelphia Mint only produced proof versions of the 1895 Morgan Dollar, with no circulation strikes, making it exceptionally rare and highly coveted by collectors.
- Does the silver content affect the value of Morgan Silver Dollars?
- While each Morgan Dollar contains approximately 0.7734 troy ounces of silver, their numismatic value often far exceeds their intrinsic silver value, especially for rare dates and mint marks.
- How can I ensure I’m paying a fair price for a Morgan Silver Dollar?
- Research current market values using reputable price guides, consider the coin’s grade and authenticity, and consult with professional coin dealers or numismatists before making significant purchases.
