Morgan Silver Dollar Value: The $28 Floor and the Five-Figure Keys
The Morgan Dollar (1878–1904, 1921) is the rare coin where nothing is worthless: each one contains about three-quarters of an ounce of silver, so even the most worn common date has a real melt-value floor around $28–$30. From that floor, mint marks and condition take some dates into five and six figures.
Common-date Morgan dollar values
| Grade (condition) | Typical value |
|---|---|
| Good–Fine (heavily worn) | $30–$34 |
| Very Fine–Extremely Fine | $36–$40 |
| About Uncirculated | $45 |
| MS63 Uncirculated | $70 |
| MS65 Gem | $160 |
The 1921 (the most common Morgan by far) runs slightly lower: about $28 worn, $55 in MS63, $110 in MS65. Values move with the silver spot price.
The mint mark is everything
Flip the coin — the mint mark sits on the reverse, below the wreath bow and above DO in DOLLAR. Blank = Philadelphia, O = New Orleans, S = San Francisco, D = Denver (1921 only), and CC = Carson City, the frontier mint whose coins carry a permanent premium. Any CC Morgan is worth checking carefully.
Key dates worth real money
| Date + mint | Worn (Good) | Uncirculated (MS63) | Notes |
|---|---|---|---|
| 1893-S | $4,500 | $180,000 | Lowest mintage (100,000) — 'the king' of circulation Morgans; heavily faked |
| 1889-CC | $900 | $28,000 | Rarest Carson City issue; MS65 reaches $90,000 |
| 1878-CC | $120 | $500 | First-year Carson City — the affordable CC entry point |
| 1895 (proof only) | — | $90,000 (PR65) | Only 880 proofs struck, no confirmed business strikes |
The 1893-S and 1889-CC are among the most counterfeited U.S. coins — added mint marks and altered dates are common. Never pay key-date money without authentication.
How to read your Morgan in a minute
- Date: front, below Liberty's portrait.
- Mint mark: back, under the wreath bow. CC doubles your attention immediately.
- Grade tells: the hair above Liberty's ear and the eagle's breast feathers wear first — sharp feathers usually mean AU or better.
- Fakes: wrong weight (genuine ≈ 26.7g), seams on the edge, or a mint mark that looks 'stuck on' are the classic red flags.
Sorting a stack of Morgans
The Note ID app identifies the date, mint mark, and series from a photo and flags Carson City issues and key dates for free — the eBay sold-price lookup for your exact coin is in the paid tier, full disclosure. For anything on the key-date table, recent sold prices matter more than any printed guide.
Frequently asked questions
How much silver is in a Morgan dollar?
90% silver, 10% copper — 0.7734 troy ounces of pure silver. That's the melt floor: multiply the silver spot price by 0.77 and no undamaged Morgan should sell below it.
Are 1921 Morgan dollars valuable?
They're the most common Morgans, worth about $28–$38 in circulated grades. Still real silver money — just not rare. (Don't confuse them with 1921 Peace dollars, which carry a key-date premium.)
What does CC mean on a Morgan dollar?
Carson City, Nevada — the small frontier mint. CC Morgans always carry a collector premium: the cheapest circulated ones start around $100–$200, and the 1889-CC runs $900+ even heavily worn.
Should I clean my Morgan dollar before selling?
No. Cleaning can cut the value in half. Original toning — even dark — is preferred by collectors and required for top grades.
How can I tell if my Morgan dollar is fake?
Weigh it (26.73g ± 0.4), check the edge for a seam, and compare the mint mark style. Key dates like the 1893-S deserve professional authentication — the fakes are good.
Not sure what you have?
Scan any US coin or bill with your camera — Note ID identifies it and flags star notes, fancy serials, and key dates for free.
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Wheat Penny Value
The copper version of the same game — 6 key dates carry the value.
Buffalo Nickel Value
No silver floor here, but the 3-legged variety pays $550+.
1957 Silver Certificate Value
The paper money that was once redeemable for these dollars.
Values on this page are estimates for typical examples and are not an appraisal. Real-world prices depend on condition, third-party grading, and current demand — always check recent eBay sold listings (the Note ID app does this for you) before buying or selling.