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The value of a silver dollar depends on several factors, including:

• its age;
• its condition;
• its origins; and
• whether or not it's an unusual variety or error coin.

Yorkville Location 102 E. Stagecoach Trail Yorkville, IL 60560 630-553-1835.

• While the Mint reprised the Morgan dollar design in 1921, 17 years after Morgan dollars were previously struck in 1904, there were many people lobbying for a new silver dollar design. Supporters of the Peace dollar lobbied members of congress to change the design, but they eventually realized they didn’t need congressional approval to change.
• The Peace Silver Dollar is the only classic circulating US silver coin struck with high relief. Therefore, the 2021 Peace Silver Dollar will feature the same high relief, like the first coin. But, back then, this level of relief led to production issues. Because of the high pressure necessary to achieve the high relief, the dies often broke.

While the values of your specific silver dollars can only really be determined by a sight-seen evaluation by a professional coin dealer, you can at least become more educated about what your silver dollars may be worth by knowing some of the basics about them and how these coins are numismatically valued.

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What Type of Silver Dollar Do You Have?

This is one of the most important questions you need to answer before you can even begin to have a grasp on what your coins are worth. It will save you money next time you decide to sell or buy silver dollars.

As many numismatists know, there isn’t “a” single type of silver dollar, but in fact many types. Here’s a rundown on the various major types of silver dollars that have been struck since the United States Mint began making them in 1794:

Image source: USA CoinBook

Value: $1,787–$1,555,005

Value: $1,537–$1,238,926

Image source: USA CoinBook

Value: $12,895–$73,561

Value: $267–$73,563

Image source: USA CoinBook

Value: $106–$31,507

Value: $22–$614,348

Image source: USA CoinBook

Value: $24–$130,940

Value: $1–$104

Note: Commemorative silver dollar coins come in a variety of designs. Image source: CoinUpdate

Value: $20–$400

Value: $25–$3,443

Chances are, if you have any silver dollars, they’re probably among the last five on this list.

While those last five types are the most common of all silver dollars, that doesn’t mean if you have any of those that they are not worth anything. In fact, all dollar coins containing silver are worth multiples over their face value. But by how much? Read on!

Four Keys to Silver Dollar Values

There’s a lot more to determining the value of a silver dollar than simply looking up the date online at a few websites or eBay and simply assuming yours is worth the highest—or lowest—price. There are several important factors to determining how much your silver dollar is worth. These include:

• The date – Yes, the date is an important factor in knowing how much your silver dollar is worth. But it's not the only thing to look for. . .
• Its mintmark – Where the coin was minted makes or breaks everything about the value of your silver dollar, and the mintmark indicates the coin's origin.
• Errors and varieties – Does your coin look unusual? It may be due to an error or neat die variety, and these can be worth big bucks.
• The grade & overall condition – An uncirculated silver dollar never used as money will be worth much more than one of the same date and mintmark combination that is nearly worn smooth. Don't forget, cleaned or otherwise damaged silver dollars are worth only a fraction of the values you see in the books or online.

Getting the Date

Look on your silver dollar. . . You’ll find the date on the obverse, or “head’s side,” of the coin.

While it may make sense to some to think that the older dates are worth more than more recent dates, this isn’t always true. Yes, the 1804 dollar brings millions, but not necessarily because it’s old. Rather, it’s because just 15 were minted and therefore are quite rare.

Some dates have higher numbers of survivors than others. The relatively high-mintage 1879 Philadelphia Mint Morgan dollar is worth perhaps $15 to $30 in well-circulated grades, while the low-mintage 1928 Philly-minted Peace dollar can take $200 or more in the same condition. Value really has nothing to do with relative age—it’s about the rarity of the date.

Mintmark

Sometimes, folks who don’t really know what to look for on silver dollars will understandably examine the date alone and say they have “the” so-and-such date silver dollar. The problem is there is another major equation to identifying a silver dollar, and it’s not just looking at the date but also the mintmark, if any is on the coin, indicating where that silver dollar was made.

Close-up of the 'S' mintmark below the neck on a 1973-S Ike dollar

Before the 1840s, all silver dollars were minted at the Philadelphia Mint and did not have mintmarks—a single letter or sometimes two letters indicating where the coin was made.

Silver dollars have been made at the following mints:

• Carson City – Denoted by a 'CC'
• Denver – Indicated by a 'D'
• New Orleans – Bearing the single letter 'O'
• Philadelphia – No mintmark on dollar coins until 1979, when the 'P' mintmark was used
• San Francisco – Carries an 'S' mintmark
• West Point – Accompanied by a 'W' mintmark

Every type of silver dollar will have the mintmark in a different place, but generally on all silver dollars made before the Eisenhower dollar it appears on the reverse (“tail’s side”). On Eisenhower dollars and other dollar coins made since, it will be found on the obverse—with the exception of some modern small-size golden dollars, on which the mintmark sometimes appears on the edge of the coin.

Errors and Varieties

Before you go bananas looking for coins that have unusual markings or other odd things about them, bear this in mind: many, if not most, things often thought by non-expert numismatists to be errors or varieties are simply post-mint damage.

It’s surely understandable to get excited about weird dents, strange-looking gouges, or even odd markings (such as Masonic symbols) on your coins, but these are virtually always caused by someone or something outside the mint and in most cases will reduce the value of the coin, not increase it.

There are, however, many types of errors and die varieties that can increase the value of your silver dollars and it would behoove you to research these and learn how to spot them on your coins.

The Grade & Overall Condition

New collectors, here’s your first piece of advice on anything having to do with the condition of your coins: do not clean them under any circumstances! Cleaning your coins will not make them look any better and, unless done by a professional coin conservation firm, will always reduce its value—perhaps by 50% or even more.

Coin dealers and seasoned numismatists prefer their coins original, not cleaned, in part because cleaning your coins removes all of the acquired patina and even a very thin layer of metal that can never be repaired or restored. So, be sure to leave your coins as you found them!

There are many other aspects of a coin’s condition that are important to know as you determine the value of your silver dollar, including its wear-based grade.

Coin grading is a very complex area of numismatics, one that takes years to really learn and understand like the back of your hands. It surely can’t be taught here in a couple paragraphs.

But, what’s important to know is that coins are graded on a 70-point scale, with “1” indicating a coin in poor condition—worn nearly smooth—and “70” denoting a coin that’s never been spent as money and is virtually perfect, with no visible nicks, scratches, or other marks.

A coin that’s never been spent as money and has all of its details intact is known to be in uncirculated grade, and this is generally the most valuable condition in which a coin is found. Grading coins based on the amount of wear is a nuanced part of numismatic knowledge and something with which you should familiarize yourself.

So, How Much Is a Silver Dollar Worth?

That’s the sixty-four-thousand-dollar question, isn’t it?

There are so many value guides both online and in print, it can sometimes be confusing to figure out precisely how much your coin is worth. Sure, you may have seen that a 1922 silver dollar much like yours sold for $3,000 on eBay, but is that what yours is worth?

Maybe you recently saw a story about the 1804 silver dollar going for millions of dollars. . . So, if that coin took $5 million, does that mean your old silver dollars from the 1880s or 1890s are worth, say, a tenth of that amount because they’re not quite as old? The older the silver dollar, the more it’s worth—right?

These are all legitimate questions, especially for someone who may be completely unaware of the intricacies of the complex and ever-changing coin marketplace.

1893-S Morgan dollar

Morgan and Peace Dollars

If you own any common Morgan or Peace silver dollars that are in worn condition, these are usually worth very close to the current price of an ounce of silver. Rarities or those in exceptionally good condition can be worth hundreds or even thousands of dollars.

If any of your Morgan dollars bear a “CC” mintmark under the eagle on the reverse, then they’re worth at least $50 to $100 each, maybe more. And while all 1921 Morgan dollars are common, the 1921 Peace dollar is scarce, with most worth at least $50 or more.

Again, there are many circumstances like these in which one or two variations between coins of the same date can mean a piece that might buy you lunch versus one that will help pay off your mortgage.

Eisenhower Dollars

Got a bunch of Eisenhower silver dollars you want to sell? Unfortunately, most Eisenhower dollars aren’t even silver at all but rather made from a base-metal composition containing copper and nickel. When worn, these are worth only face value, so it’s safe to simply spend them or maybe give them to some children who might find these large dollar coins fascinating novelties.

Aside from extremely rare errors, all Eisenhower dollars with silver must contain an “S” mintmark, and even then only a portion of those are actually made from silver. Unless you know your Eisenhower silver dollars well, you may want to take your S-mint Eisenhower dollars to a numismatic professional who can tell you which are made from a silver composition.

Other Dollar Coins

Have any Susan B. Anthony dollars (seen above)? Virtually all that are worn are worth only face value, so it’s generally safe to spend those, too.

And those “golden” dollars (seen below) aren’t made from gold, nor are they rare. They can be spent along with your worn Susan B. Anthony dollars and Eisenhower dollars.

Image source: USA CoinBook

The American Silver Eagle dollars contain a full ounce of silver and are worth roughly the current value of one ounce of silver; these are worth selling if you wish to let go of the ones you have.

All commemorative silver dollars made since 1983 contain very close to an ounce of silver and are also worth selling if you don’t wish to keep them.

Have any of the really old silver dollars listed above, such as the Flowing Hair, Draped Bust, Gobrecht, Liberty Seated, or Trade dollars? These coins are worth significantly more than most Morgan or Peace dollars and are worthy of taking to your local coin dealer so you can find out what those specific pieces are worth.

Collecting Silver Dollars Can Become a Hobby

Whether your silver dollars are worth a little or a lot, hopefully they bring you joy and perhaps inspire you to collect more coins.

Even if you inherited your silver dollars from a loved one, perhaps your introduction to coins may inspire you to further build upon the collection you now have.

Coin collecting is a fantastic hobby that can be enjoyed for a lifetime, bringing you great financial and personal fulfillment along your numismatic journey.

Joshua McMorrow-Hernandez is a journalist, editor, and blogger who has won multiple awards from the Numismatic Literary Guild. He has also authored numerous books, including works profiling the history of the United States Mint and United States coinage.

More from the author:

Coin Values Moving with Precious Metals: Up-Dated 2/8/2021: Gold $1813 Silver $26.90

Popular and always in demand, minimum Morgan silver dollar values begin at $24.55 for a heavily worn example. Many date and mintmark combination are worth well above minimum value. A step by step approach identities key dates, mintmarks, and helps judge collector quality condition.

Steps Leading to Value:

• Step 1: Date and Mintmark Variety - Many dates are common, many are scarce to rare, mintmarks are also identified.
• Step 2: Grading Condition - Higher value follows higher condition. Images, video, and descriptions help narrow grade range.
• Step 3: Special Qualities - Collector quality is highly prized. Separate coins trading at silver value from higher demand examples.

Collected today by date and mintmark, collectors form sets including each year and mint. Each combination is valued separately because of availability, many are highly valued. Further judgement of condition and surface preservation is needed to narrow how much a Morgan silver dollar is worth. Step 1 follows the value chart.

The above are wholesale Morgan Silver Dollar Values. Computed from dealer's price lists with various mark-up factors figured in. They reflect closely the value you would expect to receive when selling.

Variations in value do occur subject to subtle grading points, collector demands and dealer needs.

Although these are wholesale Morgan silver dollar values, realize your coins are very popular and in strong demand.

Step 1: Date and Mintmark Variety are Identified

One of the features of the Morgan dollar is the fine detail throughout the design. Liberty is adorned with a Liberty cap and band with 'Liberty' inscribed. Above the band are wheat heads with easily recognizable grains and leaves. Cotton bolls and cotton leaves within the design, are also well detailed. A standing eagle on the reverse with wings upright is a strong symbol of national pride and National bird. A preference for peace is represented by an olive branch and ability to defend is noted by the eagle holding three arrows.

Mints and Mintmarks of the Morgan Silver Dollar Series

Morgan silver dollars enjoy a large following of collectors. Sets of the coins typically include each date and mintmark variety. Five mints were involved in production of the series over the years 1878 to 1921. Each mint variety is valued by demand on supplies and condition of the coin. Mintmarks were used by the branch mints to indicate their production, and are key to Morgan silver dollar values.

'CC' Mintmark: Carson City Mint Struck the Coin

Carson City Morgan dollars are both very popular with collectors and are the scarce mintmark variety. Minted in only 13 years of the series, the mint's total production was 13.8 million coins, lowest of all mints. Each Carson City dollar is a premium coin in all grades. Lowest coinage years 1881, 1885, and 1889 are very scarce. High condition examples are closely judged and graded.

Carson City mint used a 'CC' mintmark to identify its production. On the reverse under the bow tying the olive wreath a 'CC' mintmark is a Carson City silver dollar.

'S' Mintmark: San Francisco Mint Struck the Coin

San Francisco is the only mint that struck coins for circulation every year of the Morgan Dollar series. A complete date run of San Francisco variety dollars is a popular sub-collection. To complete the collection an 1893-S dollar is needed, the key high value coin to the series. 100,000 were minted, lowest mintage of any variety, all are highly sought.

San Francisco mint placed a small 'S' mintmark on coins. On the reverse, under the bow a 'S' mark confirms the San Francisco mint struck the coin.

'O' Mintmark: New Orleans Mint Struck the Coin

New Orleans mint was also a great contributor to the Morgan dollar series. Striking coins in all but two years, its coinage total was second of the mints. Striking millions of silver dollars most years, just over 186 million coins were produced. Two dates standout as very scarce and valuable, 1893 a low of 300,000 coins minted and 1895 another unusually low 450,000 coined. Both are avidly sought and demand on the limited numbers show in premium values on the chart.

An 'O' mintmark was used by the New Orleans mint on its coinage. This mintmark is found on the reverse, below the ribbon tying the wreath.

'D' Mintmark: Denver Mint Struck the Coin

The Denver mint was called upon to strike silver dollars in one year of the series, 1921. Carson City and New Orleans mints were both closed and Denver contributed over 20 million 1921 silver dollars. These coins represent a unique one-year only variety with a strong demand. With the large supply, values are affordable, placing the coin on want lists of most collectors.

Denver mint used a 'D' mintmark to indicate its production. On the reverse under the ribbon tying the wreath, look for the 'D' mintmark of the Denver mint.

No Mintmark: Philadelphia Mint Struck the Coin

Philadelphia struck just over 305 million Morgan silver dollars of the total 657 million struck from all mints combined. These huge numbers are reflected in affordable values on the chart for most dates. Most years Philadelphia struck multi-million silver dollars, many years, tens of millions of coins. 1893, 1894, and 1899 are the scare issues matching low mintage years. Philadelphia issues are judge carefully to recognize high grade examples that break away from bullion value to collector premium values.

Philadelphia continued the trend of no mintmark on its coinage with the Morgan silver dollar series. In the space below the ribbons tying the bow, and just above the 'DO' of 'Dollar', no mintmark confirms the Philadelphia mint struck the coin.

Step 2: Judging Condition Identify Grade Determine Value

These old dollars are inspected closely and evaluated for wear and overall condition. The process is known as 'Grading' a coin. The condition of a coin and the resulting grade have a large impact on Morgan silver dollar values.

Morgan Silver Dollar Values are Conditional

Compare your coins to the grading images below. Inspect both obverse and reverse to judge an overall condition. For the obverse; focus on the hair above the forehead, wear presents there first. On the reverse feather details wear quickly and are a key factor to grade.

A single light source such as a table/desk lamp is ideal to help cast a light brining out subtle details. Along with a magnifying glass to get in close and recognize finer details separating grades.

Mint State Grade: Morgan Silver Dollar

Obverse: Features Identifying Mint State Grade: Absence of wear to the surface defines the Mint State grade. Minting of coins imparts a luster to the surface and is what gives a Morgan dollar its shine. Rotating and tilting under a light causes the luster to move across the surface. Any breaks in luster - due to wear - causes a dullness to the surface.

Judge Liberty's cheek, a mint state coin is lustrous across all areas.

Just above her forehead, fine strands of hair are high in relief. These waves of hair remain fully covered in the fine texture imparted during the minting process. All parts of the hair remain without dulling to the high points.

Cotton leaves, blossoms, and wheat grains form a wreath above the hair and all fine edges of the design are without any signs of smoothing due to wear.

Reverse: Features Identifying Mint State Grade: Delicate areas are inspected to identify absence of wear. Many small high relief points are part of the design of the eagle and leaves in the wreath, all are inspected.

Feathers on the Eagle's neck are centrally located, prone to first wear. Look close to confirm original mint luster and texture remains.

Silver Dollar Optical

Tips of both wings on a mint state coin are rounded in profile with no flat spots, especially towards the ends.

Leaves in the wreath have fine edges and small contoured designs, forming high and low areas. All parts of the leaves are without any dulling and smooth spots.

Extremely Fine Grade: Morgan Silver Dollar

Obverse: Features Identifying Extremely Fine Grade: Wear has begun to smooth and flatten the very tops of design details. Most luster is gone.

Hair above Liberty's forehead is showing a few flat areas. Along the tops of the waves are areas where the fine lines have merged. Waves remain with a high profile.

Just in front of the ear, hair is raised and separated form cheek.

Cotton leaves are smooth along the edges but are well defined from the cap.

Reverse: Features Identifying Extremely Fine Grade: Light wear is causing small disconnected flat areas over the feathers and leaves.

Neck feathers are will defined. Flatness is on tops of feathers and little evidence of merging is noted.

Wing feathers are slightly flattened on upper edges only. Each feather is bold and separated form the next. View along the top edge of wings, feather detail show.

All leaves of the wreath are bold with central line detail. No merging of individual leaves, wear is confined to just upper edges.

Fine Grade: Morgan Silver Dollar

Obverse: Features Identifying the Fine Grade: Flat areas are beginning to dominate the surface of a Morgan dollar in Fine grade.

Above Liberty's forehead many of the waves of hair are flat with only a few fine inner lines remaining. Hair directly above eye is well raised and separate of forehead.

Her ear is still bold in detail, however just above is a large flat area. Flatness continues towards the temple with hair blending with the cheek and temple.

Outlines of the two cotton blossoms and all leaves remain. Very faint but visible are the two lower cotton leaves.

Reverse: Features Identifying the Fine Grade: A bold eagle remains on the reverse with most of the feather detail still clear.

Neck feathers are now smooth in the center from head to chest. Legs of the eagle are also smooth with only slight details to sides of legs.

Wing feathers are complete over most of both wings. Some blending of feather lines is seen on the left wing, confined towards the top.

Leaves of the wreath are well detailed, merging of edges is minimal. Lower leaves within the groups are very bold.

Good Grade: Morgan Silver Dollar

Obverse: Features Identifying the Good Grade: Once a silver dollar is worn to a mostly flat surface lacking detail to Liberty, a Good grade is assigned to its condition.

Some detail remains in the hair above the date. Liberty's portrait is well outline and somewhat bold from the field of the coin.

Lettering of the legend is complete and readable. Additionally, all stars are visible, raised above the field and separate of the rim.

Two cotton blossoms just below the letters of 'Liberty' are recognizable.

Reverse: Features Identifying the Good Grade: All major designs on the reverse are recognizable. An eagle is complete, lettering is readable and the wreath remains boldly outlined.

Tips to the eagle's wing are outlined and free of the rim. The right wing is often just touching the rim.

Silver Dollar City Hours

Feather details remain visible on the lower parts of wings. Tail feathers are clearly defined.

Many of the leaves of the wreath are flattened into groups but the wreath is complete in outline, no merging with the field.

Tops of lettering is free of the rim along most of the Legend. One or two slight connections of the letters to the rim are the result of striking weakness in the area. Note: Wide spread fading of the legend into the rim indicates a lower condition coin.

How to Video: Grading Morgan Silver Dollars

An accurate grade of silver dollars is needed to place an accurate value on the coin. How to grade Morgan silver dollars follows a process judging the surface of the coin, comparing it to the video, images and descriptions.

Step 3: Special Qualities Enhancing Value

Coins falling in the $24.55 to $27.01 range on the above value chart are bullion quality silver dollars. These are priced and traded based on silver content of the coin. When minted Morgan dollars contain .773 ounces of silver. Quality of preservation is what separates most silver dollars from bullion to collector appeal and premium value.

A few key elements are easily recognized to help judge a premium collector Morgan dollar. Date and mintmark quickly determine base value. Next, aesthetics often decide value. Aesthetics and eye appeal are the evaluation of surface qualities and overall 'look' of the coin.

Both of the imaged coins are Extremely Fine grade, the technical amount of wear to the surface. Differences in the appearance and eye appeal are now judged. Many collectors favor the soft grey-tan toning over the dark, mottled colors of the second dollar. Aesthetics now determine marketability of the dark coin, often lessening its appeal.

Also, easily to recognize are eye distracting marks. If a mark, scratch, or rim bruise is noticeable, it immediately lowers eye appeal.

Placing yourself in the eye of a collector, both examples are the same date, mintmark, and grade. Looking closely at the chest of the eagle, on the second coin a noticeable deep mark is clearly visible. Marks of this type are the deciding factor in eye appeal to collectors. Recognizing coins with outstanding aesthetics separates bullion from collector quality.

References

US Mint. 1948 US Mint Annual Report. https://nnp.wustl.edu/library/book/339
US Mint. Catalogue of Coins of the United States. https://nnp.wustl.edu/library/book/554591
US Mint. Symbols on Our Coins https://www.usmint.gov/learn/history/us-circulating-coins

Coin Values CoinStudy Articles

Date by Date
In Depth Morgan Silver Dollar Value
1878 to 1921

Professional evaluation of many dates within the Morgan dollar series is important because of potential high value. If your coin is listed with a large value jump from one grade to the next, having the coin graded by a service leads to certainty of value.

Silver Dollar Pancakes

Professional Coin Grading Services and Numismatic Guaranty Corporation are the top two services and both authenticate and grade your coin. Each place the coin in a special holder improving marketability. Coin Grading Services gives an insight to these services.

A step by step method combined with the coin value online guide identifies how to value a coin collection. Discover how much your box of old coins is worth.

Coin values spanning 140 years. Discover the many rare dates, mintmarks and varieties. Next, 'Grading' Images to evaluate the condition of your coins and find the true value of your silver dollars. From early dollars in 1794 to the Liberty Seated variety 1840-1873. Next the ever popular Morgan Dollar to the Peace Dollars ending in 1935.

Many of your old US silver coin values are tied closely to the price of silver. Pre 1965 silver dimes, quarters, half dollars and silver dollars are all heavy with 90% silver and worth many times their face value. With today's high value of silver; $26.90 per ounce as of 2/8/2021 your old silver dollars are becoming surprisingly valuable.

Selling coins for the highest price is achieved with planning. Research and organize well, value your coins accurately, and then finding and selling to the right buyer equals excellent results.

★Coin Values Discovery finds Morgan Silver Dollar Values and...

Silver Dollar Value

All old US coin values. It is an excellent index with images and text links to all coin series, from Cents to Gold. Value charts, grading images and a step by step procedure uncovers how much your box of old coins is worth.

Silver Dollar Wikipedia

Print the Coin Values Worksheet to list your Morgan silver dollars and record their values. Should you decide to sell... use the worksheet as an invoice and packing slip when sending coins through the mail to dealers. It indicates you have done your coin values homework.