Dollars
Morgan silver dollar value: how many were struck, and the silver inside
Type the date and choose the mint letter on the back, under the wreath. The tool gives the number struck at that mint and the silver at the price of the moment.
Morgan dollar: mintage at each mint
Metal value of one 1893 coin
$41.76
| Struck at this mint | 100,000 |
| Mintage band | Very low mintage (under 1 million) |
| Metal | 90% silver dollar |
| Mint mark on the coin | S |
Pieces made in the calendar year; for most years this is also the date on the coin. At silver $53.94 per troy oz (last price read).
The Morgan dollar was struck from 1878 to 1904 and once more in 1921, in 90% silver, at up to five mints: Philadelphia with no letter, and New Orleans, San Francisco, Carson City and, in 1921 only, Denver, each marked with O, S, CC or D on the back under the wreath. Each coin weighs 26.73 grams and holds 0.7735 troy ounce of pure silver, worth about $41.76 at $53.94 an ounce on October 27, 2026. That is the floor of its value. Above it, the date and mint decide: the Bureau of the Mint tables show 10,509,550 dollars struck at Philadelphia in 1878 but only 100,000 at San Francisco in 1893. The lowest figures in the tables are 1895 (12,880), 1893-S (100,000), 1894 (110,972), 1885-CC (228,000), 1881-CC (296,000). This page does not quote collector prices, because no free official source publishes them: it gives the mintage, the band it falls into and the metal.
Silver in Morgan and Peace dollars
Melt value of 1 coin
$41.76
| One coin | $41.76 |
| Face value | $1 |
| Pure silver | 0.773 troy oz |
At silver $53.94 per troy oz (last price read).
Mintages, metals and prices read by Radif Partners · Editorial policy · Method
Number struck at each mint
The table below lists every Morgan year with a figure in the Bureau of the Mint’s tables, by mint. Years 1905 to 1920 are absent because no silver dollars were struck. The Mint’s page on mint marks explains the letters.
| Year | Philadelphia | New Orleans | San Francisco | Carson City |
|---|---|---|---|---|
| 1878 | 10,509,550 | – | 9,774,000 | 2,212,000 |
| 1879 | 14,807,100 | 2,887,000 | 9,110,000 | 756,000 |
| 1880 | 12,601,355 | 5,305,000 | 8,900,000 | 591,000 |
| 1881 | 9,163,975 | 5,708,000 | 12,760,000 | 296,000 |
| 1882 | 11,101,100 | 6,090,000 | 9,250,000 | 1,133,000 |
| 1883 | 12,291,039 | 8,725,000 | 6,250,000 | 1,204,000 |
| 1884 | 14,070,875 | 9,730,000 | 3,200,000 | 1,136,000 |
| 1885 | 17,787,767 | 9,185,000 | 1,497,000 | 228,000 |
| 1886 | 19,963,886 | 10,710,000 | 750,000 | – |
| 1887 | 20,290,710 | 11,550,000 | 1,771,000 | – |
| 1888 | 19,183,833 | 12,150,000 | 657,000 | – |
| 1889 | 21,726,811 | 11,875,000 | 700,000 | 350,000 |
| 1890 | 16,802,590 | 10,701,000 | 8,230,373 | 2,309,041 |
| 1891 | 8,694,206 | 7,954,529 | 5,296,000 | 1,618,000 |
| 1892 | 1,037,245 | 2,744,000 | 1,200,000 | 1,352,000 |
| 1893 | 378,792 | 300,000 | 100,000 | 677,000 |
| 1894 | 110,972 | 1,723,000 | 1,260,000 | – |
| 1895 | 12,880 | 450,000 | 400,000 | – |
| 1896 | 9,976,762 | 4,900,000 | 5,000,000 | – |
| 1897 | 2,822,731 | 4,004,000 | 5,825,000 | – |
| 1898 | 5,884,735 | 4,440,000 | 4,102,000 | – |
| 1899 | 330,846 | 12,290,000 | 2,562,000 | – |
| 1900 | 8,830,938 | 12,590,000 | 3,540,000 | – |
| 1901 | 6,962,813 | 13,320,000 | 2,284,000 | – |
| 1902 | 7,994,777 | 8,636,000 | 1,530,000 | – |
| 1903 | 4,652,755 | 4,450,000 | 1,241,000 | – |
| 1904 | 2,788,650 | 3,720,000 | 2,304,000 | – |
For 1921 the tables give 45,696,473 at Philadelphia (Morgan and Peace together), 20,345,000 at Denver and 21,695,000 at San Francisco.
Reading the figures
A Morgan dollar from an issue of several million is common, and in worn condition it is valued close to its silver. An issue of a few hundred thousand is a different matter, and the very lowest figures are well known to collectors. The tool below ranks the lowest numbers between any two years and mints you choose.
Lowest-mintage silver dollars
Lowest mintage 1878 to 1904
1895: 12,880
| 1893-S | 100,000 |
| 1894 | 110,972 |
| 1885-CC | 228,000 |
Number struck, from the Bureau of the Mint tables; San Francisco proof-heavy years 1965 to 1980 are left out. A low mintage is a lead, not a price: survival and condition decide what a collector pays.
Remember what a mintage does not say. Silver dollars were often stored in bags for decades rather than circulated, and the Mint tables say nothing of later losses, so the number that survives can be very different from the number struck. A date that looks common in the tables can be scarce in fine condition, and the reverse. Condition decides most of the gap, which is why the grading guide matters for this series more than for most.
The silver in a Morgan dollar
Every Morgan dollar has the same specification, 26.73 grams of 90% silver, whatever its date or mint. The small tool below counts the silver in any number of them at the live price.
Silver in Morgan and Peace dollars
Melt value of 1 coin
$41.76
| One coin | $41.76 |
| Face value | $1 |
| Pure silver | 0.773 troy oz |
At silver $53.94 per troy oz (last price read).
Per dollar of face value, a silver dollar contains slightly more silver than ten dimes or four quarters of the same period. That makes worn common Morgans a slightly different product from junk silver, valued on their own. The melt value calculator compares them with any other coin.
Checking a Morgan dollar you found
- Read the date on the front, under Liberty’s head.
- Find the letter on the back, under the wreath, or note its absence.
- Type both into the tool at the top of this page to see the number struck and its band.
- Weigh it if you can: a genuine coin weighs about 26.73 grams. Copies are common, and a light or magnetic coin is a copy.
- Do not clean it. Toning is normal for old silver.
The Morgan dollar was followed by the Peace dollar from late 1921, struck to the same weight and fineness.