Morgan Dollar Value & Melt Value Today

Melt value is the floor

Melt value is what the metal in a coin is worth: its pure silver content times the spot price. A Morgan dollar holds 0.7734 troy ounces of pure silver, so at $60 an ounce its melt value is $46.41. The calculator above uses today's price instead.

That number is the floor. How close a common, worn Morgan dollar sells to it depends on collector demand. A scarce date, a rare mint mark or a coin in high grade is priced as a collectible, starting from the floor and going up.

The Morgan dollar was struck from 1878 to 1904 and again in 1921, at Philadelphia, New Orleans (O), San Francisco (S), Carson City (CC) and, in 1921, Denver (D). Ninety-six date and mint combinations exist, so most Morgans are common, but a handful are rare in any grade and many more are rare uncirculated.

Is yours a valuable one? Check these first

Check the date, the mint mark and the condition against this list. If your coin matches a key date or variety, have it looked at by a dealer who handles collector coins before you sell it for melt.

• 1893-S: Lowest mintage of any circulation-strike Morgan: 100,000. Fakes made by adding an S to an 1893 are common, so it should be certified.
• 1889-CC: Only 350,000 struck, and just one turned up among the 1.7 million Carson City dollars sold by the government in the 1970s.
• 1895 (no mint mark): Known only as a proof: 880 struck. No regular 1895 Philadelphia strikes have been found, so treat any as suspect until authenticated.
• 1892-S: 1,200,000 struck and none in the Treasury hoards of 1962–64. The price jumps sharply once it reaches About Uncirculated.
• 1884-S: 3,200,000 struck and mostly released into circulation. Easy to find worn; the price jumps once it reaches About Uncirculated-55.

Mintages and varieties from APMEX's Morgan dollar key dates guide. For current collector prices by grade, check the PCGS Price Guide or the NGC Price Guide. Prices for key dates change often and depend heavily on grade.

What dealers typically pay

Dealers price common silver coins off the silver spot price, so the melt figure above is the number to anchor on. Some shops quote per coin, others per $1 of face value. Before you accept, put the offer into the Coin Offer Checker: it shows the metal value and where the offer sits against typical dealer pay. For a key date or a high-grade coin, ask for an offer on the coin as a collectible, not as silver.

Not sure it's silver?

The Is My Coin Silver? checker takes the denomination and year and tells you the metal, the silver content and the melt value. Selling a mix of coins? The silver coin melt value calculator adds up several types at once, and the junk silver calculator works from face value.

Where to sell

Compare coin dealers near you: what each one buys, and what recent customers say about the offers they got. If this coin is part of a larger collection, read how to sell a coin collection first.

Value pages for other coins

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• Silver half dollar value
• Kennedy half dollar value
• Franklin half dollar value
• Walking liberty half dollar value
• War nickel value
• Eisenhower silver dollar value