Are you sitting on a fortune without even knowing it? Morgan silver dollars are some of the most coveted coins among collectors. Originally minted between 1878 and 1904 and briefly in 1921, these historic coins have become rare treasures over time. Today, we’re diving into the ten most valuable Morgan silver dollars, with some worth millions!
In 2021, an 1893 Morgan Dollar from the San Francisco mint sold for over $2 million, proving that these coins can be more than just shiny pieces of history.
Let’s explore the top 10 Morgan silver dollars and what makes them so valuable.
Top 10 Most Valuable Morgan Dollars
1.1893-S Morgan Dollar
Value: $3,000 – $1,250,000
The rarest Morgan dollar ever minted in San Francisco, it’s extremely hard to find in mint condition. If you have one, you’re holding a small fortune!
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2.1884-S Morgan Dollar
Value: $34 – $1,250,000
While this coin is common in lower grades, an uncirculated one can fetch over $1 million. Minted in San Francisco, it’s a coin every collector dreams of finding in perfect condition.
3.1889-CC Morgan Dollar
Value: $425 – $1,200,000
This coin from the Carson City mint is a top rarity. In uncirculated condition, it’s a five-figure treasure. Most of these were melted down, so finding one today is like striking gold!
4.1895-O & 1895-S Morgan Dollars
Value: $150 – $700,000
These coins, minted in New Orleans and San Francisco, are known for their rarity. They’re especially sought after in uncirculated condition, with prices reaching up to $700,000.
5.1895 Morgan Dollar
Value: $32,500 – $175,000
Often called the “King of Morgan Dollars,” only 880 of these were made in Philadelphia, all as proofs. Even a lower-grade version can bring in tens of thousands of dollars.
6.1893-CC Morgan Dollar
Value: $220 – $142,500
The last Morgan dollar minted in Carson City, it’s known for its historical significance and value. Coins from this year are often weakly struck, but they still hold immense value.
7.1885-CC Morgan Dollar
Value: $440 – $130,000
With only 228,000 minted, this is another rare gem from Carson City. Many of these coins are still in circulation, making it easier to find in good condition compared to others.
8.1894 Morgan Dollar
Value: $525 – $125,000
Only 110,000 were minted in Philadelphia, making this a scarce coin. It’s considered valuable even in worn condition, with top-quality coins fetching over $50,000.
9.1903-S Morgan Dollar
Value: $85 – $120,000
Though not widely known, this coin is rare in higher grades. If you have one in excellent condition, it could be worth thousands!
10.1879-CC Morgan Dollar
Value: $150 – $90,000
A rare find in all grades, this coin’s value shoots up depending on its condition. With a mintage of 756,000, it’s considered a scarce collectible today.
Understanding Morgan Silver Dollar Mint Marks
Mint marks on Morgan silver dollars tell collectors where the coin was made, which plays a big role in its value. Here’s what the mint marks mean:
- CC: Carson City
- S: San Francisco
- O: New Orleans
- D: Denver (only minted in 1921)
- No mark: Philadelphia
Why Do Morgan Silver Dollars Hold Value?
Several factors contribute to the value of Morgan silver dollars:
- Rarity: Coins from certain years or mints are rarer, and in turn, worth more.
- Condition: Coins in uncirculated or mint condition are the most valuable.
- Historical Significance: Being over 100 years old, these coins tell the story of America’s rich history.
In 1918, more than 270 million Morgan silver dollars were melted down, making many key dates scarce today. This, combined with their silver content (90% silver, 10% copper), makes them highly sought after.
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Recent Reissues of the Morgan Dollar
To celebrate the 100th anniversary of the coin, the U.S. Mint reissued 400,000 Morgan silver dollars in 2021. These sold out within 45 minutes! The 2023 reissue was just as popular, selling out on the first day.
Look Out for These Other Morgan Dollars!
Even if you don’t own one of the top 10 Morgan dollars, you may still have a valuable coin. Here are other years to watch out for:
- 1878
- 1880
- 1881
- 1882
- 1921
If you think you might have a rare Morgan dollar, it’s worth getting an appraisal. You could be holding onto a valuable piece of history!
Conclusion
Morgan silver dollars are among the most popular and valuable coins ever minted in the U.S. Whether you’re a seasoned collector or new to the hobby, these coins can hold significant value. Always check the mint mark, condition, and year to determine how much your coin is worth.
With values ranging from a few hundred to millions of dollars, owning a Morgan silver dollar could mean you’re sitting on a small fortune!