Live Prices
Morgan Silver Dollar Value Today
Every Morgan dollar holds 0.7734 troy ounces of silver, worth $47.44 at the September 28, 2026 London fix. That is the floor. Whether yours is worth the floor or fifty times it depends on three things: date, mintmark and condition.
Spot updated September 28, 2026
Melt Value
Silver spot $61.33 per troy ounce × 0.7734 oz = $47.44 of silver per coin.
Specification: 26.73 g, .900 fine, 38.1 mm. Peace dollars (1921–1935) are identical in silver content. Price from the LBMA silver fix, refreshed twice each trading day.
Key Dates
Which Morgan Dollars Are Worth More Than Silver
Morgans were struck from 1878 to 1904 and again in 1921 at five mints. Most dates from the 1880s and 1921 were minted in the tens of millions and survive in quantity, so a worn example is a silver coin with a small collector premium. A minority of date-and-mintmark combinations are scarce because few were struck or because most were melted under the Pittman Act of 1918, and those trade on rarity, not silver.
| Date / mint | Why it matters | Typical value versus melt |
|---|---|---|
| 1893-S | Lowest mintage regular issue (100,000) | Thousands of dollars even worn; six figures in mint state |
| 1895 (Philadelphia) | Proof-only; the "King of Morgans" | Tens of thousands of dollars |
| 1889-CC | Key Carson City date | Thousands in any grade |
| 1893-CC, 1879-CC, 1884-S, 1892-S | Low mintages or heavy melting | Hundreds worn, thousands in high grade |
| 1894, 1895-O, 1895-S, 1893-O | Semi-key dates | Hundreds to thousands depending on grade |
| Any CC mintmark | Carson City coins are collected as a set | Well above melt in all grades |
| 1878 8 tail feathers, 1878 7/8 TF | First-year die varieties | Modest premium; more in high grade |
| 1921 (P, D, S), 1880-S, 1881-S, 1885-O, 1904-O | Very common | Near melt when worn; small premium uncirculated |
Values move with the coin market and depend heavily on grade, so treat the table as a guide to what deserves a professional look, not a price list. If you have a coin from the top rows, the right next step is a dealer who handles certified coins or a grading service, not a scrap buyer.
Condition
How Condition Changes the Price
Collectors grade on a 70-point scale. A "cull" with the date barely readable is worth silver. Good to Very Fine coins (G-4 to VF-20), with full rims and readable lettering but worn hair and feathers, carry a small premium on common dates. Extremely Fine and About Uncirculated coins (EF-40 to AU-58) show only light wear on the high points and are worth noticeably more. Mint State coins (MS-60 and up) have no wear at all; among common dates, the jump from MS-63 to MS-65 can multiply the price several times because so few survive without bag marks.
The tells to look for with a loupe: the hair above Liberty's ear and the eagle's breast feathers wear first. Full breast feathers and sharp hair strands mean a high grade. Look for original surfaces: a coin that has been polished or cleaned has fine parallel hairlines and an unnatural shine, and loses most of its collector value.
Selling Morgans
Worn common dates sell as junk silver at a small premium over melt; dealers quote them by the coin or by the roll of 20, and the buyback comparison shows who pays best. Anything scarce or uncirculated belongs with a numismatic dealer or auction. Our how to sell silver guide covers both routes.
Common Questions
Frequently Asked Questions
How much silver is in a Morgan dollar?
A Morgan dollar weighs 26.73 grams and is 90% silver, which works out to 0.7734 troy ounces of pure silver (24.06 g). Peace dollars, struck 1921–1935, have exactly the same specification.
What is a Morgan silver dollar worth today?
Its silver content is worth $47.44 at the current fix of $61.33 per ounce. Common-date coins in worn condition trade a few dollars above that. Better-preserved common dates, and any coin from a scarce date and mintmark, are worth more than melt, sometimes by a very large multiple.
Which Morgan dollars are the most valuable?
The 1893-S is the rarest regular-issue Morgan and the 1895 was struck only as a proof; both sell for thousands in any grade and far more in high grades. The 1889-CC, 1893-CC, 1884-S, 1892-S, 1879-CC, 1894, 1895-O and 1895-S are the other keys. Every Carson City (CC) coin carries a premium.
Where is the mintmark on a Morgan dollar?
On the reverse, below the wreath and above the letters DO of DOLLAR. No mintmark means Philadelphia; O is New Orleans, S is San Francisco, CC is Carson City, and D (1921 only) is Denver.
Should I clean a Morgan dollar before selling it?
No. Cleaning leaves hairline scratches that collectors detect instantly and can cut the value of a scarce coin by half or more. Toning is normal and often prized. Sell it exactly as it is.
Is a 1921 Morgan dollar rare?
1921 is the most common Morgan date by a wide margin, with tens of millions struck at Philadelphia, Denver and San Francisco. Circulated examples trade close to silver value; the 1921 Peace dollar, by contrast, is a scarce first-year issue.