The Morgan Silver Dollar, minted between 1878 and 1904 (and again in 1921), is one of the most popular coins among collectors. Its stunning design, historical significance, and silver content make it a prized piece in any collection. However, not all Morgan Silver Dollars are created equal.
Some rare editions and error coins can be worth thousands of dollars, especially when they are in mint condition or feature unique characteristics.
In this article, we’ll dive into the top 9 Morgan Silver Dollars that have fetched impressive prices and continue to be in high demand.
1. 1893-S Morgan Silver Dollar
The 1893-S Morgan Silver Dollar is one of the rarest and most valuable coins in the Morgan Silver Dollar series. Only about 100,000 of these coins were minted, and many were either lost, damaged, or circulated heavily, making it a highly sought-after item.
Why It’s Valuable:
- Low Mintage: Only 100,000 coins were struck, contributing to its rarity.
- High Demand: This coin is considered the holy grail for many collectors of Morgan Dollars.
Approximate Value:
Up to $500,000, depending on condition and grading.
2. 1889-CC Morgan Silver Dollar
The 1889-CC Morgan Silver Dollar is another sought-after coin, primarily due to its Carson City mintmark (CC). Coins from the Carson City Mint are particularly valuable because of their low mintage and the closure of the mint in 1893.
Why It’s Valuable:
- Carson City Mint: Coins from the Carson City Mint are historically significant and often command higher prices.
- Rarity: There were relatively few minted, adding to its desirability.
Approximate Value:
Up to $40,000, depending on the condition and grading.
3. 1895 Morgan Silver Dollar (Proof)
The 1895 Morgan Silver Dollar is often referred to as the King of Morgan Dollars, especially in proof form. Although the regular strike version of this coin is fairly common, the proof version is incredibly rare, with only around 880 coins minted.
Why It’s Valuable:
- Proof Version: The 1895 proof is one of the rarest in the Morgan series, making it highly valuable.
- Historical Significance: Proof coins were often made for collectors and not released into circulation, making them rare.
Approximate Value:
Up to $100,000, with higher prices for coins in excellent condition.
4. 1884-CC Morgan Silver Dollar
The 1884-CC Morgan Silver Dollar is another Carson City mint coin that attracts collectors. Despite being minted in relatively large quantities, the 1884-CC is still rare enough to be highly sought after.
Why It’s Valuable:
- Carson City Mint: Like other coins from the Carson City mint, this coin is desirable because of its low mintage and historical importance.
- High Grade Value: Coins in higher grades can fetch significant prices.
Approximate Value:
Up to $10,000, depending on the coin’s condition.
5. 1901 Morgan Silver Dollar
The 1901 Morgan Silver Dollar is particularly rare in high grades, especially in mint state condition. While it wasn’t initially considered one of the rarest coins, its value has risen in recent years due to increasing demand.
Why It’s Valuable:
- Low Minting Numbers: While not as rare as some others, the 1901 still has a relatively low mintage and is difficult to find in high grades.
- Historical Significance: It was minted just before the end of the Morgan Silver Dollar program.
Approximate Value:
Up to $50,000, depending on the coin’s condition.
6. 1887 Morgan Silver Dollar (Proof)
The 1887 Morgan Silver Dollar in proof condition is another rare and highly valuable coin. Only a small number of these coins were minted, making them a premium collectible.
Why It’s Valuable:
- Low Minting Numbers: Very few were minted, contributing to its rarity.
- Proof Quality: The proof versions are highly collectible and more valuable than standard coins.
Approximate Value:
Up to $60,000, depending on the condition.
7. 1896-O Morgan Silver Dollar
The 1896-O Morgan Silver Dollar minted in New Orleans is valued for both its low mintage and the fact that a lot of these coins were melted down, making it much harder to find in good condition.
Why It’s Valuable:
- New Orleans Mint: Coins minted at the New Orleans Mint are always sought after due to their historical significance.
- Rarity: The scarcity of this coin makes it highly desirable.
Approximate Value:
Up to $40,000, with higher prices for those in mint state.
8. 1883-S Morgan Silver Dollar
The 1883-S Morgan Silver Dollar is another coin with a relatively low mintage, and it’s known for being hard to find in high grades. It was minted in San Francisco, and due to its relatively low mintage and heavy circulation, it’s harder to find in good condition.
Why It’s Valuable:
- San Francisco Mint: San Francisco-minted coins are popular with collectors.
- Low Mintage: The coin’s low mintage contributes to its rarity.
Approximate Value:
Up to $30,000, depending on the coin’s condition.
9. 1878 Morgan Silver Dollar (First Year)
The 1878 Morgan Silver Dollar is the first year of production for the Morgan Dollar series and is highly valuable in both circulated and uncirculated conditions. Coins with CC mintmarks from the Carson City Mint are especially prized.
Why It’s Valuable:
- First Year of Issue: As the inaugural coin in the series, the 1878 Morgan Silver Dollar holds historical significance.
- High Demand: First-year coins are often more valuable due to their desirability among collectors.
Approximate Value:
Up to $10,000, depending on the condition and mintmark.
Top 9 Morgan Silver Dollars and Their Value
| Coin | Year/Features | Approximate Value |
|---|---|---|
| 1893-S | Rare minting, low mintage | Up to $500,000 |
| 1889-CC | Carson City mint | Up to $40,000 |
| 1895 (Proof) | Extremely rare proof coin | Up to $100,000 |
| 1884-CC | Carson City mint | Up to $10,000 |
| 1901 | Low mintage, high demand | Up to $50,000 |
| 1887 (Proof) | Rare proof version | Up to $60,000 |
| 1896-O | New Orleans mint, low mintage | Up to $40,000 |
| 1883-S | Low mintage, hard to find in high grades | Up to $30,000 |
| 1878 | First year of Morgan Dollars | Up to $10,000 |
FAQs
Q1: What makes a Morgan Silver Dollar valuable?
A1: A Morgan Silver Dollar’s value depends on several factors, including its rarity, condition, mint mark, and whether it’s a proof coin or has any minting errors. Low mintage years and coins in high grades are typically worth more.
Q2: How can I tell if my Morgan Silver Dollar is rare?
A2: To identify rare Morgan Silver Dollars, check the year and mint mark. Some years, such as 1893-S or 1889-CC, have lower mintages and are highly sought after. Also, look for coins with unique errors or proof versions.
Q3: How do I know if my Morgan Silver Dollar is in good condition?
A3: The condition of a coin is assessed by its grade, which can range from Poor (P-1) to Mint State (MS-70). The higher the grade, the more valuable the coin. Uncirculated and proof versions generally command higher prices.
Whether it’s a 1893-S or a proof 1895, these rare coins are highly sought after by collectors. Keep an eye on the condition and minting details of your coins, as they could lead to a valuable discovery worth far more than you expect.