1893-S Morgan Silver Dollar

The 1893-S Morgan silver dollar is one of the rarest and most valuable coins in the Morgan dollar series. With a mintage of only 100,000, it holds the distinction of having the lowest mintage of any Morgan dollar.

Many were circulated, and very few survive in Mint State condition, making it a key date and a highly sought-after coin by collectors.

Its rarity, combined with its historical significance, has resulted in auction records exceeding $2 million for the finest known specimens.

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Historical Context

The 1893-S Morgan silver dollar was minted during a time of financial instability in the United States, following the Panic of 1893. This economic crisis led to a decrease in the production of silver dollars, particularly at the San Francisco Mint, which minted only 100,000 of these coins.

The Pittman Act of 1918 later resulted in the melting of many Morgan dollars, further reducing the number of surviving 1893-S coins. Today, this coin is known as the rarest Morgan dollar in uncirculated grades and is a target for counterfeiters due to its high value.

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Specifications:

Size: 38.1 millimeters
Denomination: $1
Gross Weight: 26.73 grams
Actual Silver Weight: Approximately 0.77344 troy ounces of silver
Fineness/Composition: 90% silver, 10% copper
Diameter: 38.1 millimeters
Thickness: Not listed
Specific Gravity: Not listed

Coin Description:

The obverse of the 1893-S Morgan dollar features a left-facing portrait of Liberty, wearing a Phrygian cap adorned with cotton and wheat, symbolizing liberty and agricultural prosperity. The reverse showcases an eagle with outstretched wings, clutching arrows and an olive branch, symbolizing both strength and peace.

The "S" mintmark, representing the San Francisco Mint, is located beneath the eagle. The inscriptions include “E Pluribus Unum” on the obverse and “United States of America” and “In God We Trust” on the reverse.

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Cultural and Numismatic Significance:

The 1893-S Morgan silver dollar is considered the key date in the entire Morgan dollar series due to its low mintage and rarity in high grades. Numismatic News estimates that fewer than 100 uncirculated examples exist, making it a true treasure for collectors. The coin is frequently targeted by counterfeiters, and collectors are advised to rely on third-party grading services to authenticate their purchases. The coin’s historical context, being minted during the Panic of 1893 and later subject to the Pittman Act, adds to its numismatic value.

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Numismatic Value:

The 1893-S Morgan silver dollar is one of the most valuable coins in the Morgan series. Circulated examples in Very Fine condition can sell for over $5,500, while Extremely Fine grades can fetch nearly $12,000.

Uncirculated (Mint State) coins are exceedingly rare and command high premiums, with MS-61 examples valued at over $230,000 and MS-65 coins fetching upwards of $605,000. The highest known graded coin, an MS-67 example, sold for a record $2,086,875 in 2021, making it the most valuable Morgan dollar.

Free Appraisal With No Obligation To Sell

Take the first step toward selling your silver coins by getting a free appraisal today. Our process is designed to be transparent, convenient, and stress-free, giving you the confidence to sell when you’re ready.

At Coinfully, we’re committed to helping you get the most for your silver coins—all from the comfort of your home.

Frequently Asked Questions (FAQs)

How do I know I’m getting a fair price for my silver coins?

At Coinfully, we pride ourselves on transparency. Our appraisals are based on the current market value of silver, including the silver content of your coins, and the numismatic value of collectible coins. We provide a detailed explanation of how we arrive at your offer, ensuring that you’re fully informed and confident in the price you receive.

Is my shipment insured when I send my coins to Coinfully?

Yes, we provide full insurance coverage for your shipment. Whether you’re sending silver bullion coins, junk silver coins, or American Silver Eagle coins, your coins are protected throughout the entire shipping process, giving you peace of mind that your valuable items are safe.

What types of silver coins does Coinfully buy?

We buy all types of U.S. silver coins, including American Silver Eagle coins, silver dollar coins, silver bullion coins, junk silver coins, and other collectible coins. No matter the type or condition, we’re interested in purchasing your coins, whether you’re looking to sell silver coins for melt value or as collectible items.

What if I’m not ready to sell after receiving an appraisal?

There’s no obligation to sell your coins after receiving an appraisal from Coinfully. We offer a free, no-pressure appraisal service to help you understand the value of your collection. You can decide to sell when you’re ready, without any pressure from us.

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