Morgan Silver Dollar Coin History:
The Morgan Silver Dollar is one of the most common of all silver U.S. coins and considered to be the most collected. They were originally minted between 1878 and 1904, resumed for one year in 1921, and produced again for 2021. The coins are made of 90% pure silver and 10% copper.
The Morgan Silver Dollar was named after its designer George T. Morgan, who was an American artist best known for his work on Ulysses S. Grant’s portrait, and who was also the chief engraver at the US Mint from 1861 to 1878.
The obverse side features Lady Liberty wearing a cap decorated with wheat and leaves that bear the word ‘Liberty’. Her portrait is surrounded by 13 stars. Above her head reads ‘E Pluribus Unum’. The reverse features an eagle with raised wings holding an olive branch in one talon and three arrows in the other.
The coins were made at five different mints: Philadelphia (no mark), Carson City (CC mark), New Orleans (O mark), and San Francisco (S mark). The 1921 Morgan Dollars were the only year in which the coins were also struck at the Denver mint (D mark).
Most expensive Morgan Dollar Coins:
While you can get started collecting Morgan Silver Dollars for as low as $30-45, it’s also one of the most expensive coins sold at auction.
Several uncirculated Morgan Silver Dollars in mint condition have sold in the range of $300,000 and more. These include a coin from 1889 (CC mark) for $280,000, one from 1893 (S mark) for $300,000, and a 1901 (no mark) for $425,500. The 1893-S coin is from a year where only 100,000 coins were minted out of San Francisco. Many other years saw 10-20 million coins produced at a single mint.
Amazingly, coins from the same year and mint that have been circulated, and therefore not in as good condition, can be bought for as little as $35.
How to Grade Morgan Silver Dollar Coins:
There are two main grading systems for coins like the Morgan Silver Dollar: PCGS and NGC. They both came about in the late 1980s as a way to guard against counterfeiting.
If you’re interested in buying or selling Morgan Silver Dollar coins, here are a few of the main ways that a coin’s value is determined.
- Condition: An uncirculated coin with no damage will generate a higher value than a circulated coin that has damage. Damage might include nicks or features being worn down. A cleaned coin also can be assessed as having a lower value.
- Dates and Mint Location: More coins were produced in certain years and at certain mint locations. The years and mint locations where fewer coins were produced are more rare and generally more valuable. Coins produced at the San Francisco mint in 1893 are the most rare. Those made in Philadelphia in 1894 are the next most rare. These would feature S mint marks and no mint mark, respectively.
- Luster: The higher the luster, generally from uncirculated coins, the higher the value.
Do you have any Morgan Silver Dollars? CV Coins & Collectables is the best silver and silver coin dealer in San Diego. Whether you are looking to buy or sell a Morgan Silver Dollar or other silver or gold coins, we can give you a thorough assessment.