The 1894 Morgan silver dollar is one of the rarest and most sought-after coins in the Morgan dollar series. Struck at the Philadelphia Mint with a very low mintage of only 110,000, this coin is valued highly among collectors due to its scarcity. While most of the coins were released in the mid-20th century, few entered circulation, making circulated examples very rare today. The 1894 Morgan silver dollar is known for its sharp strikes and frosty luster, although some coins display weaker strikes.
Designed by George T. Morgan, the Morgan silver dollar was a standard U.S. coin produced from 1878 to 1904 and briefly in 1921. The 1894 edition was minted during a time of economic uncertainty, which may have contributed to its low mintage. With only 110,000 coins struck at the Philadelphia Mint, the 1894 Morgan silver dollar is the second rarest among the Morgan dollars from Philadelphia, after the famous 1893-S.
| Specifications | |
|---|---|
| Size | 38.1 millimeters |
| Denomination | 1 USD |
| Gross Weight | 26.73 grams |
| Actual Silver Weight | 0.7734 troy ounces of silver |
| Fineness/Composition | 90% silver, 10% copper |
| Diameter | 38.1 millimeters |
| Thickness | 2.4 millimeters |
| Specific Gravity | ~10.34 |
| Numismatic Price Range | $2000 - $152750 |
The obverse of the 1894 Morgan silver dollar features a left-facing portrait of Liberty wearing a Phrygian cap, symbolizing freedom. The reverse shows a bald eagle with outstretched wings holding an olive branch and arrows, symbolizing peace and strength. The coin has a reeded edge and displays a frosty luster, with some weaker-strike examples showing reduced detail.
The 1894 Morgan silver dollar is treasured not just for its silver content but for its historical and numismatic value as well. As one of the lowest-mintage coins in the series, it holds a special place in U.S. coinage history. Its rarity, particularly in circulated grades, makes it highly prized among collectors. The 1950s and 1960s releases of Mint State bags of these coins contributed to its modern-day scarcity and desirability.
The value of an 1894 Morgan silver dollar can range from thousands of dollars in lower grades to over $150,000 for high-grade examples. The auction record for an MS-66+ example stands at $152,750. Coins from this year and mint are a significant find due to their low mintage and rarity in both circulated and uncirculated conditions.
Think you’re onto something big with your coin collection? Let’s talk.
Having issues with this submission form? You can send us pictures by email as well.
