The Morgan Silver Dollar was a United States minted coin from 1878 to 1904. It was then minted heavily in 1921 under The Pittman Act, authorizing the melting and coinage of millions of silver dollars. The design was replaced by the Peace Dollar later in 1921. The Morgan Silver Dollar is 90% silver and 10% copper. Many casual collectors may have very valuable Morgan Silver Dollars in their possession and may not even know it. There are some exceptionally rare ones but in this week’s article, we cover just three key-date dollars. These silver dollars are highly sought after by collectors and those attempting the incredible (and expensive) feet of building a complete collection of all date and mint marked Morgan Silver Dollars.
The 1892-S Morgan Silver Dollar
The 1892-S Morgan Silver Dollar was minted in San Francisco. The designer was George T. Morgan, and the mintage was 1,200,000 coins. Survival estimates are approximately 120,000. 1,200 coins exist at a grade of MS60 or better. Just 64 1892-S Morgan Silver Dollars exist with a mint state grade of 65 or better. In January 2009, an MS67 PCGS grade 1892-S Morgan Silver Dollar was auctioned off at Heritage Auctions for $460,000. In May of 2018, an MS67 PCGS grade was sold by Sotheby’s for $495,000. In March of 2009, an MS66 PCGS grade was sold by Bowers & Merena for $201,250. In August of 2011, an MS66 PCGS grade was sold by Heritage Auctions for $184,000. According the Official Red Book, a 1892-S Morgan Silver Dollar in VF-20 grade is worth approximately $125, in EF-40 grade $275, in AU-50 grade $1,450, in MS-60 $41,000, MS-63 $95,000, MS-64 $175,000, and a MS-65 today could fetch over $225,000.
The 1893-O Morgan Silver Dollar
The 1893-O Morgan Silver Dollar was minted in New Orleans. The designer was George T. Morgan, and the mintage was 300,000 coins. Survival estimates are approximately 29,960. 5,960 coins exist at a grade of MS60 or better. 27 1893-O Morgan Silver Dollars exist with a mint state grade of 65 or better. In January of 2009, an MS64+ PCGS grade was sold by Heritage for $5,016. In January of 2021, an NGC-graded MS66 was sold by Heritage Auctions for $174,000. In June of 2012, a PCGS MS65 grade 1893-O Morgan Silver Dollar was sold by Stack’s Bowers for $152,750. In January of 2018, an NGC MS65 grade was sold by Heritage Auctions for $132,000. According the Official Red Book, a 1893-O Morgan Silver Dollar in VF-20 grade is worth approximately $300, in EF-40 grade $475, in AU-50 grade $775, in MS-60 $3,500, MS-63 $7,000, MS-64 $16,500, and a MS-65 today could fetch over $175,000.
The 1895-O Morgan Silver Dollar
The 1895-O Morgan Silver Dollar was minted in New Orleans. The designer was George T. Morgan, and the mintage was 450,000 coins. Survival estimates are approximately 29,960. 718 coins exist at a grade of MS60 or better. Approximately 18 1895-O Morgan Silver Dollars exist with a mint state grade of 65 or better. In January of 2005, an MS67 PCGS grade was sold by Heritage Auctions for $575,000. In June of 2016, an MS66 PCGS grade 1895-O Morgan Silver Dollar was sold for $258,000. In November 2017, an MS65+ PCGS grade was sold by Stack’s Bowers for $180,000. According the Official Red Book, a 1895-O Morgan Silver Dollar in VF-20 grade is worth approximately $350, in EF-40 grade $500, in AU-50 grade $1,100, in MS-60 $16,000, MS-63 $55,000, MS-64 $85,000, and a MS-65 today could fetch over $195,000.
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