Learn How Rarity, Survival Rates, Historical Significance, and Collector Demand Determine Morgan Silver Dollar Value.
The top 10 most valuable Morgan silver dollars are:
- 1879-CC Morgan Dollar: $215–$26,500+
- 1884-S Morgan Dollar: $57–$260,000+
- 1889-CC Morgan Dollar: $595–$290,000+
- 1893-S Morgan Dollar: $4,000–$680,000+
- 1893-CC Morgan Dollar: $220–$92,500+
- 1894 Morgan Dollar: $725–$38,000+
- 1895 Morgan Dollar: $125,000+
- 1895-S Morgan Dollar: $300–$21,500
- 1895-O Morgan Dollar: $230–$225,000+
- 1901 Morgan Dollar: $57–$400,000
Morgan silver dollars are among the most iconic and widely collected coins in U.S. numismatic history, prized for their artistry, historical significance, and silver content.
Whether you’re beginning a collection or looking to capitalize on rare finds, understanding which coins in the series hold the highest value is essential.
If you have valuable or rare Morgan dollars but aren’t sure how much they’re worth, try a free online coin appraisal from Coinfully. If you decide not to sell, the appraisal is yours to keep and use however you see fit.
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The Most Valuable Morgan Silver Dollars Today
While roughly 657 million Morgan silver dollars were minted between 1878 and 1921, only a small fraction stand out as exceptionally rare and valuable.
Low mintages and survival rates have made certain dates in the Morgan dollar series true treasures among collectors.
Below is a quick look at the top 10 most valuable Morgan silver dollars, each known for its scarcity and numismatic prestige.
*The price ranges below were sourced from NGC and are current as of early August 2026 but are subject to change.
| Year/Mint | Mintage | Good to XF | AU50 to AU58 | MS60 to MS65 or Better | Auction Record |
| 1879-CC Morgan Dollar | 756,000 | $215–$2,600 | $3,150–$4,650 | $5,500–$26,500+ | $192,000 |
| 1884-S Morgan Dollar | 3,200,000 | $57–$120 | $225–$2,200 | $9,000–$260,000+ | $750,000 |
| 1889-CC Morgan Dollar | 350,000 | $595–$3,875 | $6,650–$18,250 | $24,000–$290,000+ | $881,250 |
| 1893-S Morgan Dollar | 100,000 | $4,000–$15,000 | $21,250–$90,000 | $160,000–$680,000+ | $2,086,875 |
| 1893-CC Morgan Dollar | 677,000 | $220–$1,900 | $2,500–$3,975 | $4,600–$92,500+ | $323,125 |
| 1894 Morgan Dollar | 110,000 | $725–$1,100 | $1,250–$2,300 | $3,300–$38,000+ | $152,750 |
| 1895 Morgan Dollar | 880(ProofOnly) | N/A | N/A | $125,000+(PF65 or higher) | $575,000 |
| 1895-S Morgan Dollar | 400,000 | $300–$1,250 | $1,600–$3,050 | $4,400–$21,500+ | $336,000 |
| 1895-O Morgan Dollar | 450,000 | $230–$590 | $1,100–$5,800 | $16,500–$225,000+ | $575,000 |
| 1901 Morgan Dollar | 6,962,000 | $57–$275 | $425–$2,800 | $4,850–$400,000+ | $720,000 |
The Most Valuable Morgan Dollar
The 1893-S holds the auction record for the series at $2,086,875, set by an MS67 example at GreatCollections in August 2021. Only 100,000 were struck, which is the lowest business-strike mintage of any Morgan, and nearly all entered circulation in the West.
In Mint State, it ranks among the rarest Morgan dollars in the series. PCGS estimates 123 survivors in those grades and 18 in MS65 or better, though David Hall puts the true Gem count closer to six or seven. Demand for the series key keeps even Good-condition examples above $4,000.
The “King of Morgan Dollars”: 1895 Morgan Silver Dollar
Mint records list 12,000 business strikes for 1895, yet no authenticated example exists, and the reported coinage was almost certainly melted. Only the 880 Philadelphia proofs remain, with roughly 400 surviving, according to PCGS estimates.
Because no Morgan date set can be completed without one, the 1895 draws demand out of proportion to its mintage, thus the King nickname.
Most Valuable Carson City Silver Dollars
Carson City struck Morgan silver dollars in only 13 years. The mint suspended coinage in 1885 and did not strike silver dollars again until 1889. Every date is scarce relative to other mints.
Three appear in the top 10: the 1879-CC, 1889-CC, and 1893-CC. The remaining CC dates that carry significant premiums are:
- 1880-CC: 591,000 struck, with several reverse and overdate varieties.
- 1881-CC: 296,000 struck, well preserved through Treasury holdings.
- 1885-CC: 228,000 struck, which is the lowest mintage for Carson City Morgan silver dollars.
- 1890-CC: ~2.3 million struck but heavily circulated, making Gems scarce.
- 1891-CC: ~1.6 million struck, elusive above MS64.
- 1892-CC: 1,352,000 struck and heavily circulated, with few surviving above MS64.
All 13 CC dates carry premiums, but for buyers looking for an accessible entry point, 1878-CC, 1882-CC, 1883-CC, and 1884-CC are worth considering.
Key Dates and Other Valuable Morgan Silver Dollars
Several dates outside the top 10 command premiums, either from low mintages or from scarcity in Mint State.
- 1885-CC: The lowest Carson City mintage at 228,000, though GSA releases left most survivors uncirculated.
- 1892-S: Roughly 1.2 million struck and nearly all circulated, making Mint State examples among the series’ rarest.
- 1893-O: 300,000 minted, scarce in every grade and seldom seen above MS63.
- 1894-S: 1.2 million struck, with sharp strikes and steady demand across all grades.
- 1895-S: 400,000 struck and scarce in all grades, with well-struck survivors far outnumbered by worn examples.
- 1896-O: Common in circulated grades, but weak strikes make Gem examples nearly unobtainable.
- 1903-S: 1,241,000 struck, but heavy melting under the Pittman Act left few survivors, though a scarce Micro S variety exists.
Other Morgan dollars draw collector interest for their varieties, strike qualities, or their place in the series.
- 1878: First year of issue, with 8, 7, and 7/8 tail feather varieties.
- 1881: The 1881-S is among the best-struck Morgans, with prooflike and deep mirror prooflike examples common.
- 1882: Includes the 1882-O/S repunched mintmark variety.
- 1921: Final year of the original series and the only Morgan coins struck at Denver.
Morgan Silver Dollar History
The Coinage Act of 1873 ended standard silver dollar production. The Bland-Allison Act of 1878 reversed that, requiring the Treasury to purchase silver and coin it into dollars.
George T. Morgan designed the result, which was struck at Philadelphia, San Francisco, New Orleans, and Carson City, with Denver added in 1921. Regular coinage ran through 1904, when the Treasury’s silver stock was exhausted.
The Pittman Act of 1918 authorized melting more than 270 million Morgan dollars for bullion sold to Great Britain and required their eventual replacement, which returned the series for a final year in 1921.
Morgan Dollar Design
The obverse carries a left-facing Liberty modeled on Philadelphia teacher Anna Willess Williams, wearing a Phrygian cap trimmed with wheat and cotton.
The reverse shows an eagle with outspread wings holding arrows and an olive branch with a wreath below and IN GOD WE TRUST above. Mintmarks appear beneath the wreath.
Morgan revised the eagle’s tail feathers during 1878, creating the 8 tail feather, 7 tail feather, and 7/8 varieties.
What Determines Morgan Silver Dollar Value?
Morgan dollars vary widely in value due to several factors that collectors and appraisers carefully evaluate.
- Silver Content: Morgan dollars contain 90% silver and 10% copper, which equates to 0.7734 troy ounces of pure silver per coin. Modern issues struck since 2021 are 99.9% pure silver and contain 0.858 troy ounces.
- Mintmark: The mintmark identifies whether the coin was struck in Philadelphia (no mintmark), San Francisco (S), New Orleans (O), or Carson City (CC). Certain mints, particularly Carson City, produced fewer coins, making them scarce in higher grades.
- Key Dates: Certain issues command premiums because few examples survive relative to demand, whether from a low original mintage, as with the 1893-O or from heavy circulation and melting that thinned an ordinary mintage, as with the 1892-S. Even worn examples of these dates sell well above common-date levels.
- Rarity and Low Survival Rates: Rarity is driven by low original mintages and losses over time, including coins melted under historical legislation. Many Morgan dollars circulated heavily, resulting in few high-grade survivors.
- Coin Condition and Grade: Mint State coins display crisp details, full mint luster, and minimal wear, while circulated coins show fading, scratches, and imperfections. Certified coin grading authenticates the coin and returns it in a sealed slab with an assigned grade, which lends confidence to buyers and sellers.
- Market Demand: Well-preserved or historically significant Morgan dollars attract high demand, with rare dates and exceptional specimens often setting record prices. Trends, exhibitions, and numismatic publications can drive the popularity of certain coins, while interest can wane over time for others.
- Minting Errors and Varieties: Errors and varieties, including repunched mintmarks or die anomalies, increase a coin’s rarity and appeal. Some varieties are subtle, requiring careful examination, while others are dramatic and well known among specialists.
Morgan Dollar Reissues
The 2021 Silver Dollar Coin Anniversary Act authorized the Mint to strike Morgan and Peace dollars marking the centennial of the transition between the two designs.
Five 2021 Morgan versions were released: Philadelphia with no mintmark, Denver, San Francisco, and two Philadelphia-struck coins bearing CC and O privy marks, each capped at 175,000.
No Morgan dollars were struck in 2022. The program resumed in 2023 with Uncirculated, Proof, and Reverse Proof finishes. All modern issues are .999 fine silver with a silver weight of 0.858 troy ounces and are sold directly to collectors rather than released into circulation.
Tips for Collecting Morgan Silver Dollars
- Start With Key Dates: Focus on historically significant or low-mintage coins before expanding to more common issues.
- Learn Coin Grading: Study wear patterns, luster, and strike quality to identify Mint State examples.
- Check for Varieties: Look for known die varieties, mint errors, or unique features that add value.
- Use Certified Coins: Purchase coins with third-party certification to ensure authenticity and accurate grading.
- Ensure Proper Storage: Store in inert holders, capsules, or coin albums to protect coins from environmental damage.
- Stay Informed: Follow market trends, auction results, and numismatic publications to track demand and value.
- Handle With Care: Avoid touching surfaces; hold coins by edges to preserve luster and detail.
How To Determine What Your Valuable Morgan Dollars Are Worth
Accurately determining how much Morgan dollars are worth requires getting a professional coin appraisal. An appraisal assesses market value based on rarity, condition, historical significance, and demand, whereas coin grading evaluates physical condition alone.
Collectors should seek an appraisal before insuring, trading, or selling a rare Morgan silver dollar and consider third-party grading for high-value or uncirculated examples to ensure credibility in the marketplace.
Coinfully offers sellers a free detailed appraisal and a market-driven price.
How Coinfully Can Help
Coinfully is an online coin-buying service that was founded by brothers Travis and Wyatt McDonald.
Coinfully provides free coin appraisals online and at-home appraisals for qualifying collections so that you know what the collection is actually worth and can sell from a position of knowledge rather than pressure.
Ed W. left this review on Trustpilot about the service he received from Coinfully:
“The gentleman I talked to was knowledgeable. He answered all my questions and offered me a fair price. Payment was fast.”
Every step of Coinfully’s process is designed to maximize value while minimizing stress. Submit photos or a rough inventory of your coins, and Coinfully provides you with a professional coin appraisal and a market-driven offer with no pressure to sell.
If you choose to sell your coins, Coinfully is fully insured by Lloyd’s of London. Each package is opened under 4K security cameras, and payment is issued the same business day your collection is verified.
Coinfully’s goal is to provide sellers with the knowledge they need to make informed, confident decisions about valuable coins. When you sell coins online with Coinfully, numismatic experts are there every step of the way to ensure the process is as simple and streamlined as possible.
*Coinfully is an accredited member of the American Numismatic Association, an authorized, registered dealer with both PCGS and NGC, and BBB accredited with an A+ rating.
Frequently Asked Questions About the Most Valuable Morgan Dollars
What are the most valuable Morgan silver dollars?
The 1893-S, 1889-CC, 1884-S, 1895-O, and 1901 lead the series. Each combines a low mintage or heavy circulation losses with strong collector demand, and all have brought six or seven figures at auction in Mint State grades.
What is the rarest Morgan silver dollar?
The 1895 is considered the rarest Morgan silver dollar. Mint records list 12,000 business strikes, but none has ever been authenticated, leaving only 880 Philadelphia proofs. No Morgan date set can be completed without one, which is why it carries the “King of Morgan Dollars” nickname.
What Morgan dollars are worth the most?
Condition determines value as much as date. The 1893-S starts near $4,000 in Good condition, while a common 1901 is worth close to melt value when worn but has reached six figures in Gem states. Key dates in Mint State consistently outperform the same coins circulated.
What is the most expensive Morgan silver dollar?
The most expensive Morgan dollar sold is an MS67 1893-S that brought $2,086,875 in 2021, the highest price paid for any coin in the series. Only 100,000 were struck, and an estimated 123 survive in Mint State across all certified grades.
