Morgan Silver Dollar Price Guide
This Morgan silver dollar price guide shows what Morgan dollars are worth today by date, mint mark and grade. Most common-date Morgan dollars in circulated condition are worth a little more than their silver value, about $50 to $60 each in the NGC price guide as of October 2026. Better dates, Carson City coins and high-grade uncirculated pieces are worth hundreds or thousands of dollars, and the rarest key dates are worth $100,000 or more.
The Morgan dollar, designed by U.S. Mint engraver George T. Morgan, was struck from 1878 to 1904 and again in 1921 at Philadelphia (no mint mark), New Orleans (O), San Francisco (S), Carson City (CC) and, in 1921 only, Denver (D). Each coin weighs 26.73 grams, is 90% silver and 10% copper and contains 0.7734 troy ounce of pure silver. The mint mark is on the reverse, above the “DO” in DOLLAR.
Have Morgans to sell? Sell your Morgan silver dollars with a free written offer.
How Much Is a Morgan Silver Dollar Worth?
- Silver (melt) value: 0.7734 oz × the silver spot price. At the October 24, 2026 example price of $54.05 per ounce, that is about $41.80. Check the current price on the Kitco silver chart and see our coin melt value table.
- Common dates, circulated: about $50 to $60 in the NGC guide (for example, the 1881-S and 1921 in VF).
- Common dates, uncirculated: about $90 to $175 in MS60 to MS63 and about $200 to $900 in MS65, depending on the date.
- Carson City and better dates: from a few hundred dollars to tens of thousands, depending on date and grade.
- Key dates and condition rarities: the 1893-S, 1889-CC, 1895 proof and gem examples of dates such as the 1884-S, 1892-S and 1901 run from thousands to hundreds of thousands of dollars.
Values are approximate retail guide values, not offers. What a dealer pays depends on the exact coin, so the best way to know what yours is worth is a free appraisal. Have many silver dollars? See our silver dollar buyer page. For other U.S. series, see our price guide for U.S. coins.
Morgan Silver Dollar Values by Date and Grade
The table below lists NGC price guide values for common dates and the key and better dates collectors look for most. Use it as a starting point; many other dates and varieties are listed in the NGC Coin Explorer.
| Date and mint mark | Mintage | VF (circulated) | MS63 | MS65 | NGC last updated |
|---|---|---|---|---|---|
| 1881-S (common date) | 12,760,000 | $54 | $130 | $215 | 10/24/2026 |
| 1921 (common date) | 44,690,000 | $52 | $120 | $215 | 10/24/2026 |
| 1878-CC | 2,212,000 | $225 | $700 | $2,500 | 1/27/2025 |
| 1879-CC | 756,000 | $1,175 | $10,000 | $26,500 | 1/27/2025 |
| 1884-S | 3,200,000 | $85 | $50,000 | $260,000 | 10/24/2026 |
| 1885-CC | 228,000 | $615 | $875 | $1,250 | 3/23/2022 |
| 1889-CC | 350,000 | $1,900 | $43,000 | $290,000 | 5/17/2021 |
| 1892-S | 1,200,000 | $185 | $85,000 | $175,000 | 10/24/2026 |
| 1893-S | 100,000 | $8,500 | $335,000 | $680,000 | 3/9/2023 |
| 1894 | 110,000 | $975 | $5,000 | $38,000 | 5/19/2021 |
| 1895 (proof only) | 880 proofs | PF60: $63,500 | PF63: $75,000 | PF65: $90,000 | 1/29/2025 |
| 1895-O | 450,000 | $385 | $65,000 | $225,000 | 7/31/2019 |
| 1901 | 6,962,000 | $100 | $12,000 | $400,000 | 10/24/2026 |
| 1903-O | 4,450,000 | $425 | $515 | $700 | 9/17/2019 |
Approximate retail guide values, not American Rarities offers. Source: NGC Morgan dollar price guide, retrieved October 25, 2026. NGC updates each coin on its own schedule, so the date NGC last updated each row is shown; rows updated before 2026 may not reflect today’s market. Mintages: Morgan dollar mintage figures (Wikipedia). MS63 and MS65 are Mint State grades; VF is Very Fine.
Key Dates and Rare Morgan Dollars
A key date is a scarce coin that is hard to find in any grade. The most important Morgan dollar rarities are:
- 1893-S – the key date of the series, with only 100,000 struck at San Francisco. Even well-worn examples are valuable, and an MS67 example sold for $2,086,875 in 2021 (source).
- 1895 Philadelphia – known only as a proof, with 880 struck. Beware of 1895 dollars with a removed mint mark.
- 1889-CC – the lowest-mintage Carson City Morgan, with 350,000 struck.
- 1893-CC, 1893-O and 1894 – low mintages across the board in the year of the Panic of 1893 and the year after.
- 1879-CC – a scarce early Carson City date.
Condition rarities are dates that are common in circulated grades but rare in high Mint State grades. The 1884-S, 1892-S, 1895-O, 1901 and 1886-O are worth near silver value when worn, yet gem uncirculated examples are worth tens or hundreds of thousands of dollars, which is why grade matters so much.
Key dates are often counterfeited or altered. Compare yours with our fake coin pictures and have valuable coins authenticated before buying or selling.
For valuable coins beyond the Morgan series, including key-date cents, nickels, dimes and gold, see our rare coins value list.
Carson City (CC) Morgan Dollars
The Carson City Mint in Nevada struck Morgan dollars from 1878 to 1885 and from 1889 to 1893. Only about 2% of all Morgan dollars carry the CC mint mark, so CC coins sell for a premium over the same dates from other mints. In the NGC guide, common CC dates such as the 1882-CC, 1883-CC and 1884-CC run about $390 in MS63, while the 1879-CC and 1889-CC are worth thousands.
Millions of uncirculated CC dollars were found in Treasury vaults in the 1960s and sold by the General Services Administration between 1972 and 1980 in special holders. Original “GSA Hoard” coins with their box and card often bring more than the same coin without them. Learn more about selling GSA Hoard Carson City Morgan dollars.
What Affects a Morgan Dollar’s Value
- Date and mint mark. Mintages range from more than 44 million (1921) to 100,000 (1893-S). Look above the “DO” in DOLLAR on the reverse for the O, S, CC or D mint mark; no mint mark means Philadelphia.
- Grade. Coins are graded on the 1 to 70 Sheldon scale, from Good (heavily worn) through Very Fine (VF), Extremely Fine (XF) and About Uncirculated (AU) to Mint State (MS60 to MS70). Each step above MS63 can multiply the value of a scarce date. Read about coin grading.
- Prooflike (PL) and deep mirror prooflike (DMPL). Some Morgans were struck from fresh dies and have mirror-like fields. PL and DMPL coins bring strong premiums; in the NGC guide (last updated for these rows in 2019) a 1921 in MS65 lists at $215, as PL at $1,750 and as DMPL at $16,500.
- Toning and eye appeal. Attractive natural rainbow or rim toning can add a premium. Dark, spotty or artificial toning usually lowers value.
- Certification. Coins graded and sealed by PCGS or NGC sell with more confidence because authenticity and grade are verified. Learn the differences between PCGS, NGC and ANACS.
- Problems. Cleaning, scratches, rim damage and holes reduce value sharply. Never clean a coin; see why cleaning coins is not recommended.
- Varieties. Collectors pay extra for varieties such as the 1878 8 tail feathers and 7 tail feathers, VAMs (die varieties) and some doubled dies.
Two coins of the same date and grade can sell for very different prices because of eye appeal. Bright, lustrous coins and coins with attractive original toning bring the most, while dull or harshly cleaned coins bring the least.
1921 and Modern Morgan Dollars
The Pittman Act of 1918 led to the melting of 270,232,722 silver dollars. To replace them, the Mint struck Morgan dollars one last time in 1921 at Philadelphia, Denver and San Francisco, more than 86 million in all. The 1921 is the most common Morgan date and usually trades near silver value in circulated grades.
In 2021 the U.S. Mint revived the Morgan dollar as a collector coin. Modern Morgans contain 0.858 troy ounce of .999 fine silver, a different composition from the 90% silver originals. The 2021 coins were struck at Philadelphia (with no mark or with CC or O privy marks), Denver and San Francisco. None were issued in 2022, and the Mint resumed the program in 2023. Modern Morgans are valued on their own collector market and silver content, not on the price guide above.
How to Read This Morgan Dollar Price Guide
- Find the date and mint mark on your coin. The date is on the obverse below Liberty, and the mint mark is on the reverse above the “DO” in DOLLAR.
- Estimate the grade. Worn coins with the hair details softened are circulated grades such as VF. Coins with full original luster and no wear are Mint State. Grading uncirculated coins is difficult, so get a professional opinion before relying on an MS price.
- Read across the row to the column closest to your grade. Values between grades are not linear; a high-grade coin can be worth many times more than one a single grade lower.
- Remember these are retail guide values. They show what collectors may pay for a certified coin. Raw (uncertified) coins, problem coins and coins that need certification usually sell for less, and dealer offers are lower than retail.
For other U.S. coins and paper money, see our coin and paper money price guide. For background on every type of silver dollar, see our U.S. silver dollar information page. Have pre-1965 dimes, quarters or half dollars too? See buying and selling 90% silver coins.
Selling Your Morgan Silver Dollars: Free Grading and Appraisals
American Rarities has bought and sold rare coins since 1990. In more than 30 years we have purchased over $400 million in coins, currency and precious metals, and we buy Morgan dollars from single coins to full rolls, bags and collections.
- Rated 4.7 on Google from 86 reviews and A+ with the BBB
- ANA Life Members, PCGS and NGC authorized dealer, and ANACS submission center
- Free in-house grading and appraisals, with no obligation to sell
- Immediate payment by company check, wire or ACH
- Nationwide home visits for larger holdings
- Mail-in shipments fully covered, with no deductible, and free or discounted shipping on selected collections
A price guide gives a range, but the exact value of your coin depends on its grade and eye appeal. We grade Morgan dollars in house, check that they are genuine and then appraise them for their current market value, free of charge. There is no obligation to sell, so feel free to use us as a resource.
How to Get Started
Here’s how to sell your coins to us:
- Using text, email, or the appraisal form below, send us photos of your Morgan Silver Dollars. Make sure the photos are clear and the coins are centered in the frame.
- One of our friendly and knowledgeable staff members will respond promptly with a free written appraisal and offer to purchase. This appraisal is IRS-approved and carries no obligation to sell to us whatsoever.
- If you decide to sell to us, we’ll either have our buyer come to you, or you can mail your inventory to us. Mail-in shipments are fully covered, with no deductible, and we offer free or discounted shipping on selected collections.
- After we receive your items we’ll immediately pay you via your choice of company check, ACH, or wire transfer.
We look forward to hearing from you soon!
Morgan Silver Dollar Price Guide: Quick Answers
Are Carson City Morgan dollars worth more?
Yes. Only about 2% of Morgan dollars were struck at the Carson City Mint, so CC coins sell for a premium. Common CC dates bring a few hundred dollars in uncirculated grades, while the 1889-CC and 1879-CC are worth thousands.
How much silver is in a Morgan silver dollar?
An original 1878 to 1904 or 1921 Morgan contains 0.7734 troy ounce of pure silver. Mint Morgans made since 2021 contain 0.858 ounce of .999 silver.
What does DMPL mean on a Morgan dollar?
Deep mirror prooflike: deeply reflective fields that contrast with frosted design. PL and DMPL Morgans sell for strong premiums.
Selling any type of silver dollar? See our silver dollar buyers.
Free Appraisal for Your Morgan Silver Dollars
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