Morgan Silver Dollars, the first silver dollars were minted in the United States after the Coinage Act of 1873. These coins are highly demanded by collectors because millions of them were melted down in 1918, leaving only half of the original mintage. If you own a rare Morgan Silver Dollar, we’d be happy to appraise it for free and offer you top value for it!
The Morgan Silver Dollar is one of the most famous coins in U.S. history. First minted in 1878 and designed by George T. Morgan, these coins have become a symbol in coin collecting. Whether you’re an experienced collector or just starting, Morgan Silver Dollars is a fascinating piece of American history. While many of them are valued mainly for their silver content, a few rare ones have reached legendary status because of their rarity, condition, and mintmark.
10 Most Valuable Morgan Silver Dollars
- 1879 CC Silver Morgan Dollar, MS66+ $290,000
- 1880 CC Morgan Silver Dollar, MS68 $300,000
- 1885 CC Morgan Silver Dollar, MS68+ $300,000
- 1897 O Morgan Silver Dollar, MS67 $385,000
- 1883 S Morgan Silver Dollar, MS67+ Prooflike $450,000
- The 1901 (P) Morgan Silver Dollar, MS66, is valued at $700,000.
- The 1892-S Morgan Silver Dollar, MS68, is valued at $750,000.
- 1884 S Morgan Silver Dollar, MS68 – $900,000
- 1886 O Morgan Silver Dollar, MS67 DMPL – $1,000,000
- 1889 CC Morgan Silver Dollar, MS68 – $1,000,000
1. 1879 CC Silver Morgan Dollar, MS66+ $290,000
The 1879-CC Silver Morgan Dollar, graded MS66+, is valued at $290,000, making it a top collector’s item. Only 756,000 coins were minted at the Carson City Mint, which operated from 1879 to 1893. Due to the 1918 Pittman Act, which melted down millions of silver coins, only around 200 examples remain. Identified by the “CC” mintmark on the reverse, this rare coin’s value depends largely on its grade, which ranges from MS60 upward. The finest known specimen, graded MS66+, set an auction record of $192,000 in 2023, and PCGS now values it at $290,000.
2. 1880 CC Morgan Silver Dollar, MS68 $300,000
Carson City Morgan dollars are prized by collectors, not just for age but for rarity and condition. Only 591,000 were minted in 1880, but about half survived because the Treasury held many in storage for years.
These coins are found in various varieties, including some with overdates and others with the 1878 reverse design. Most surviving examples are graded MS64, with over 1,100 certified at that level. However, the higher the grade, the rarer the coin. Only 42 are graded MS67, two at MS67+, and just one at MS68.
The auction record was set in 2012 when an MS67 sold for $47,000. The only MS68 coin, the finest known, has never been auctioned, but PCGS estimates its value at $300,000.
3. 1885 CC Morgan Silver Dollar, MS68+ $300,000
With just 228,000 coins minted, the 1885 Carson City Morgan dollar had a particularly low mintage. However, most of these coins were never circulated. As a result, around 174,000 have survived, mostly in mint condition.
For circulated Morgan dollars, the 1885-CC is the rarest and most valuable. Over the years, the Treasury released more bags of these coins, making them accessible to collectors who often traded multiple coins at once.
The top-grade coins, though, are exceptionally rare. PCGS has graded 14 examples at MS67+, one at MS68, and just one at MS68+. The MS68+ coin set a record in 2015, selling for $135,125. Its value has since more than doubled, with PCGS now estimating it at $300,000.
4. 1897 O Morgan Silver Dollar, MS67 $385,000
The New Orleans Mint struck its first Morgan silver dollars in 1879 and continued production until 1904. The 1897-O Morgan dollar isn’t particularly rare, with over 4 million coins minted and around 10% believed to survive.
However, finding coins in top condition is a challenge, especially those with “proof-like” or “deep mirror-proof-like” designations, indicating a clean strike, reflective fields, and frosted details. Approximately 11,000 coins remain in mint state, but only 38 are graded MS65 or higher by the PCGS.
The auction record was set in 2020 when an MS67 example, one of just two at that grade, sold for $348,000. Today, PCGS values the coin at $385,000 due to its exceptional rarity and pristine quality.
5. 1883 S Morgan Silver Dollar, MS67+ Prooflike $450,000
The 1883-S Morgan Silver Dollar, MS67+ Prooflike, is valued at $450,000.
The San Francisco Mint produced Morgan silver dollars every year of the series, and in 1883, 6.25 million coins were minted. Unlike other years, however, the Treasury didn’t store these coins for future release, which has kept their supply low.
Today, only about 199,900 are believed to have survived, and just 10% of those are in mint condition. Gem-quality examples are even scarcer, with PCGS certifying only 94. Prooflike or deep mirror prooflike coins are rarer still.
In 2009, an MS67 1883-S Morgan dollar sold at auction for $161,000 and is now valued at $350,000. The highest-graded coin, an MS67+ Prooflike, remains off the market, but PCGS estimates its value at $450,000.
6. The 1901 (P) Morgan Silver Dollar, MS66, is valued at $700,000.
Minted in Philadelphia without a mintmark, about 7 million Morgan dollars were struck in 1901. However, most went directly into circulation, making mint-state examples extremely rare.
It’s estimated that only 10% of the original mintage survived, with just 10,000 coins graded between MS60 and MS64. Even rarer are gem-quality coins, with only eight known examples.
As a result, mint-state 1901 Morgan dollars are highly sought after by collectors.
Many circulated examples are available, but genuine uncirculated coins are scarce. Some coins sold as “uncirculated” are closer to “about uncirculated,” so certification by a trusted grading agency is essential.
The finest known example, graded MS66, sold at auction in 2015 for $587,500. Its current estimated value is $700,000, according to PCGS.
7. The 1892-S Morgan Silver Dollar, MS68, is valued at $750,000.
While this coin isn’t especially rare in circulated conditions, uncirculated examples are extremely scarce. This rarity went unnoticed for many years, as none were found in the San Francisco Mint bags released in the 1940s and 1950s or from the Treasury in the 1960s.
Over time, collectors realized just how rare mint-state 1892-S Morgan dollars were. Today, it’s estimated that only 1,200 uncirculated examples remain, with just 64 graded MS65 or higher.
The finest known example, graded MS68, was auctioned in 2020 for $630,000. According to PCGS, its current value has increased to $750,000.
8. 1884 S Morgan Silver Dollar, MS68 – $900,000
The 1884-S Morgan Silver Dollar, graded MS68, holds an impressive value of $900,000.
While the San Francisco Mint produced 3.2 million coins that year, fewer than 200,000 survive today, and less than 2,000 remain in mint state.
Gem-quality coins (MS65+ and higher) are exceptionally rare, with only three ever certified at those top levels: one at MS65, one at MS67, and one at MS68. Prooflike examples peak at MS63 and just one deep mirror prooflike coin has been graded at MS61 by the PCGS.
With so few high-grade coins available, their value remains exceptionally high. The finest known coin, graded MS68, sold at auction in 2020 for $750,000. By 2023, its value had soared to $900,000, reflecting its increasing rarity and desirability among collectors.
9. 1886 O Morgan Silver Dollar, MS67 DMPL – $1,000,000
The 1886-O Morgan Silver Dollar, graded MS67 DMPL (Deep Mirror Prooflike), is an extremely rare and valuable coin, currently valued at $1,000,000.
Despite a large mintage of over 10 million coins at the New Orleans Mint, most of these silver dollars have mysteriously disappeared. It’s believed that around 3 million went into circulation shortly after production, while the majority may have been melted down under the Pittman Act.
Circulated coins are relatively common, with prices starting at about $30 for low-grade examples. However, mint state coins are much rarer, costing from $1,400 for MS60 up to $12,000 for MS64.
Gem-quality coins (MS65+) are scarce, with only eight known examples.
The finest known specimen is a single coin-graded MS67 DMPL, far surpassing its nearest rivals in grade and rarity. This unique coin last sold at auction in 2020 for $780,000 and has since increased in value to $1 million, reflecting its exceptional status in the world of numismatics.
10. 1889 CC Morgan Silver Dollar, MS68 – $1,000,000
The 1889-CC Morgan Silver Dollar, graded MS68, is valued at $1,000,000 and is the rarest of all Carson City Morgan dollars. Only 350,000 coins were minted that year, and about 25,000 remain at various grades today. In uncirculated condition, the coin is extremely rare, with only 4,250 graded MS60 or higher and just seven at gem quality.
The finest example is a single MS68 coin, standing a full grade higher than the nearest competitor and three grades higher than the next-best PCGS-certified coin. This coin was famously held in Richard E. Eliasberg Sr.’s collection for over 50 years and has always set records when auctioned.
In August 2013, it sold for $881,250. Today, the PCGS values it at $1 million due to its rarity, pristine condition, and historical significance. Collectors seeking high-value Morgan dollars should always choose independently certified coins to avoid counterfeits and ensure authenticity.
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Conclusion
Morgan dollars are a timeless treasure and hold great value for coin collectors. If you have a rare piece or a more common coin, each Morgan dollar has worth according to its year, mint, and condition. If you’re considering selling your coins or just want to understand their value, it’s important to connect with a reliable coin dealer. At Coinfully, we offer free appraisals to help you discover the true worth of your Morgan dollars. Don’t hesitate to reach out – we’re here to guide you every step of the way.
