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Morgan Silver Dollars

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Common, scarce and rare Morgan silver dollars (U.S., 1878-1904, 1921), including and , for collectors and investors. If you don't see what you're looking for, please contact us. Thank you!

Morgan Dollar
Morgan Dollar

Image links to Morgan silver dollars on eBay.

The coinage law of 1873 made no provision for the standard silver dollar. During the lapse in coinage of this denomination, the gold dollar became the unit coin, and the trade dollar was used for commercial transactions with the Orient.

Resumption of coinage of the silver dollar was authorized by the Act of February 28, 1878, known as the Bland-Allison Act. The weight (412-1/2 grains) and fineness (.900) were to conform with the Act of January 18, 1837.

George T. Morgan, formerly a pupil of William Wyon in the Royal Mint in London, designed the new dollar. His initial M is found at the truncation of the neck, at the last tress. It also appears on the reverse on the left-hand loop of the ribbon.

Coinage of the silver dollar was suspended after 1904, when demand was low and the bullion supply became exhausted. Under provisions of the Pittman Act of 1918, 270,232,722 silver dollars were melted, and later, in 1921, coinage of the silver dollar was resumed. The Morgan design, with some slight refinements, was employed until the new Peace design was adopted later in that year.

The Morgan dollar is not an obscure coin investment. It has personal meaning because so many can connect to its value in one form or another. One of the most rewarding things about collecting silver dollars is the feeling that you are in possession of a piece of American history. This is especially true of the oldest coins in the series, of which there are plenty to go around. Collecting Morgan silver dollars is a very inexpensive way for any novice collector to start a new hobby.

Sharply struck, prooflike Morgan dollars have highly reflective surfaces and are very scarce, usually commanding substantial premiums.

Reference: A Guide Book of United States Coins (2017)

For more information about this coin, see Morgan dollar at Wikipedia (mobile version) and eBay's Morgan Silver Dollar Buying Guide.

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Auctions and Buy It Now


A Guide Book of Morgan Silver Dollars

If you collect Morgan silver dollars, we highly recommend this book for your personal library: A Guide Book of Morgan Silver Dollars (2012), by Q. David Bowers.

Americans love to collect the beautiful and historic Morgan silver dollar! No other coin conjures up so much of the romance and adventure of the United States. In this fourth edition of his bestselling book, the dean of American numismatics, Q. David Bowers, offers an engaging portrait of the country's most popular classic coin. You'll learn what to look for when you buy, how to grade your coins, how to cherrypick varieties, and ways to become a smarter collector. A Guide Book of Morgan Silver Dollars, fourth edition, also includes a thorough market analysis for each date and mint, a detailed look at the minting process, and a study of Treasury releases and other hoards, plus a section on never-circulated pattern coins.

Encyclopedia of Morgan & Peace Dollars

If you collect Morgan and Peace silver dollars, we highly recommend this book for your personal library: Encyclopedia of Morgan & Peace Dollars (1998), by Leroy C. Van Allen and A. George Mallis.

This is the updated 4th edition of the standard textbook on Morgan and Peace dollars and their varieties. Within it's over 500, 8-1/2" x 11" pages you will find a date-by-date analysis of every issue; including general striking characteristics, expected luster, comments on proof-like strikes, how the coins were handled and, of course a detailed and fully illustrated listing of thousands of thousands of significant die varieties! There are also chapters on Investing in Silver Dollars, The History of the Silver Dollar, How They Were Minted, Grading Dollars, The GSA Sales, The Redfield Hoard, Detecting Counterfeits, Storage & Preservation, Proof-like Coins, and Photographing Silver Dollars.

A Guide Book of United States Coins

If you collect U.S. coins, we highly recommend this book for your personal library: A Guide Book of United States Coins (2017), by R. S. Yeoman.

The Official Red Book® A Guide Book of United States Coins is 70 years young and going strong. Collectors around the country love the book's grade-by-grade values, auction records, historical background, detailed specifications, high-resolution photographs, and accurate mintage data. How rare are your coins? How much are they worth? The Red Book tells you, covering everything from early colonial copper tokens to hefty Old West silver dollars and dazzling gold coins. You'll find 32,500+ prices for more than 7,600 coins, tokens, medals, sets, and other collectibles. You'll also round out your education in commemoratives, Proof and Mint coins, error coins, Civil War tokens, Confederate coins, private gold, and all the latest National Park quarters, Presidential and Native American dollars, Lincoln cents, and more. Articles on investing, grading coins, and detecting counterfeits will make you a savvy collector; and entertaining essays on the history of American coinage, shipwrecks and hoards, and the modern rare-coin market give you an inside look at the hobby of kings. These are just some of the features of the informative, entertaining, invaluable Red Book the world's best-selling coin price guide (more than 23 million copies sold). - 464 pages - full color - 7.7 x 5.5 x 1.25 inches

Amazon Collectible Coins Store

The Amazon Collectible Coins Store features rare coins, modern coins, U.S. Mint sets, and gold and silver coins for coin collecting. With a focus on unique and authentic collectible coins, shop for items from the Saddle Ridge Hoard, the 2014 Baseball Commemorative series of silver dollars, and more for your coin collection. Our selection contains professionally graded rare U.S. coins including colonials, half cents, large cents, small cents, state quarters, silver dimes, and even the elusive 1909-S VDB Lincoln Cent. Our coin collection also includes the popular busts, such as Morgan dollars, Silver American Eagles, and American Gold Eagles.

To complete a set of coins based on year, series title, or denomination—whether it’s a silver proof set, a gold liberty head, or a buffalo nickel—sort by mint year, mint location, and denomination, to start. To discover the exact coin for your collection, filter your search by condition, grade rating, and metal. With consistent, standardized titles across all coins, the Amazon Collectible Coins Store ensures easy discoverability. In addition, you can examine high-quality images of both the obverse and reverse sides of each coin.

As we grow our collection of coins, the Amazon Collectible Coins Store has something for everybody, whether an experienced collector or those starting a collection with their first coin. Coin collecting is a hobby that not only provides personal gratification and great potential investment value, but also carries historical significance. Amazon provides the ideal platform to purchase new, old, and valuable coins, sell existing coins, and to continue updating your coin collection. Find a coin for yourself or one as a gift to an avid coin collector. Check back often for new coins and collectible coins for any level of coin collection.

eBay's Morgan Silver Dollar Buying Guide

The Morgan silver dollar, also called the Morgan or the Morgan dollar, is one of the most widely collected and studied coins in the world. Millions of Morgan dollars were minted by the U.S. government between 1878 and 1921. The story of these coins reflects the history of the United States and the Old West during times of tremendous growth as a country.

Millions of Morgan silver dollars are in circulation. They are valued as collector pieces and can still be used as currency. Morgans are available from coin dealers, individual coin collectors, and banks. Once in awhile merchants will even hand them out as change to their customers. This guide will discuss the highlights of the coin's history, the features to look for when purchasing Morgan dollars, and some of the reasons why purchasing these silver dollars is a good idea.

History of Morgan Silver Dollars

The Morgan dollar was produced at five different U.S. mints over a span of 28 years. Over 300 million coins were made and then later melted down. Later, more Morgan dollars were minted from this same silver. There was no record keeping done on the earliest meltings, which only adds to the mystery of these coins.

Morgan silver dollars were minted from 1878 through 1904, and then again in 1921. Originally called the 1878 silver dollar, the coin is now popularly known for the name of its designer, George T. Morgan.

The coins are actually 90% silver and 10% copper. Morgan dollars were first manufactured at the San Francisco and Carson City mints. The New Orleans mint was used to produce collectible coins beginning in 1879. Later mintings were done in Denver. Many silver dollars include a mint mark indicating where they were produced. A mint mark CC is for Carson City, S for San Francisco, O for New Orleans, and D for Denver. The mint mark is found on the reverse side of the coin below the wreath.

Morgans Minted from 1878 until 1904

Most Morgan dollars were produced in large quantities because of a deal struck between silver producers of the Comstock Lode and the U.S. government. These companies had more silver than the market demanded and America had unemployed workers, so a deal was made. The U.S. government would purchase silver in guaranteed quantities, and the mines would provide jobs. Congress passed the Bland-Allison Act that required the Treasury Department to purchase between $2 million and $4 million worth of silver each month, and mint it into one dollar coins. Soon the supply of coins far exceeded the demand and led to millions of unneeded dollars piling up in banks and Treasury vaults.

In 1890 the Sherman Silver Purchase Act mandated an increase in government monthly silver purchases to $4.5 million. By 1893, the country was in a financial panic, primarily because the oversupply of silver led investors to hoard gold. That year the Sherman Act was repealed. This slowed the production of silver dollars throughout the remainder of the 1890's. Minting of silver dollars was suspended in 1904 when the bullion supply allotted for silver dollar production was exhausted and the government vaults were overflowing with Morgan dollars. No silver dollars were minted again until 1921.

Morgan Silver Dollars Dated 1921

Finally in 1918, the silver dollar storage problem was addressed. The Pittman Act required the U.S. Treasury to melt down 270 million silver dollars, without regard or record as to where or when they were minted. Removing the supply of these coins so randomly and without documentation created one of the great investment opportunities in coin collecting history.

By 1921 the demand for silver dollars had risen enough to require that some of the silver bullion supply created from the Pittman Act be used to make new Morgan silver dollars. The final year of the Morgan series was 1921. This minting represents the largest number of Morgan dollars available today.

More Supply and Demand Adjustments

Over the years, large numbers of Morgan silver dollars were removed from circulation and melted down. In 1962, the U.S. Treasury moved most government-owned Morgans into public hands by selling Treasury bags of 1,000 silver dollars for $1,000. This caused interest in these old coins to surge. News of rare silver dollar discoveries from mint stockpiles soon circulated, and the demand for Morgan silver dollars skyrocketed. This led to steep increases in coin prices (and the price of silver), but problems soon surfaced. As an example of the reverse of this effect, the 1903 Morgan minted in New Orleans (1903-O) had been considered very rare in uncirculated grade. When large quantities of Morgans were released by the mint in perfect condition, the value of the 1903-0s dropped from $500 to $35 in only a few months.

In the 1970s, Morgans once again attracted collector attention when the remaining supply of government coins was sold to the public in a highly advertised event. That many of the dates offered were from the fabled Carson City Mint (the one closest to the Comstock Lode) heightened the element of intrigue. Today, collectors are willing to pay a premium for Morgan Silver Dollars still housed in their original GSA holders.

Government actions like these explain why some Morgan dollar mintages of over a million pieces are so scarce and why years that produced smaller quantities may be available in large numbers. Overall, it is estimated that only about 17% of the total number of Morgan silver dollars ever produced still survive today. After 1921, Morgans were no longer minted and were replaced by Peace silver dollars that celebrated the end of World War I.

Factors Important to the Value of Morgans

High quality Morgan silver dollars can be found all over the marketplace. Since there are so many available, even minute differences can have a big effect on the value of some coins. Higher grades are more prevalent among Morgan dollars than most other types of coins. This means that higher grades of Morgan silver dollars are more affordable than other types of coins.

Coin Grades

A coin's grade indicates its general condition and amount of wear. The higher the grade, the greater its value. The coin grading standard is the American Numismatic Association's 0-70 point numeric system, also called the Sheldon Scale. The process of assigning grades to coins is subjective, but the scale helps to define what is important in the evaluation. By using the point system's guidelines, even beginners can grade coins with some accuracy.

One of the best skills a coin collector can learn is the art of coin grading. Here is the criteria used to grade coins according to the American Numismatic Association:

Condition Grade Description

About Good


Very heavily worn with portions of the lettering, date, and legends being worn smooth. The date is barely readable.



Heavily worn. Major designs visible, but with faintness in areas. Head of Liberty, wreath, or other major features visible in outline form without center detail.

Very Good


Well worn. Most fine details, such as hair strands and leaf details are worn nearly smooth. The word LIBERTY, if on a shield or headband (seen on 28 coin types), is only partially visible.



Moderate to considerable, even wear. Entire design is bold. All lettering, including the word LIBERTY is visible, with some weaknesses.

Very Fine


Same as Fine except with only moderate wear on the highest points.

Choice Very Fine


Has light even wear on the surfaces, design details on the highest points are lightly worn, but with all lettering and major features sharp.

Extremely Fine


Design is lightly worn throughout, but overall, features are sharp and well defined. A bit of luster may show.

About Uncirculated


Has a trace of wear on many of the highest areas. At least half the original mint luster is still present.

Choice About Uncirculated


A coin having less than a trace of wear on only the highest points of the design but no other defects and with most of its luster remaining.

Mint State


The term MS can be interchanged with Uncirculated (UNC) to describe new coins showing no trace of wear. There are 11 grades of MS coins, ranging from MS-60 to MS-70.



Has no trace of wear but may show a large number of distracting contact marks and scuffs. Surface may be spotted or lack some luster. Lots of hairlines and rim nicks are permissible. Poor eye appeal is typical.



Reduced mint luster, contact marks, and scuffs scattered throughout. Hairlines may be very noticeable. Small rim nicks are acceptable. Eye appeal is somewhat unattractive.



Reduced mint luster may be evident. Groups of small marks throughout, with a few large marks or scuffs highly visible. Scattered hairlines. Rim quality and overall eye appeal below average.



May have slightly impaired luster. Noticeably fewer defects throughout. A small number of heavy marks are acceptable. Somewhat attractive eye appeal.



Average mint luster. Several small contact marks in groups and a couple of moderately heavier marks are acceptable. One or two small hairline patches. Overall eye appeal is good.



Above average mint luster. Only a few scattered contact marks or two larger marks are present. One or two hairline patches. A few light scuffs on highest points of coin. Quality and eye appeal are above average and quite pleasing.



Above average mint luster. No more than a few minor contact marks; some in prime focal areas acceptable. A few hairlines or light scuffs show under magnification. Eye appeal is very good.



Has almost all of original mint luster. No more than three or four very small contact marks. One or two small hairlines or scuffs acceptable. No distracting flaws allowed. Exceptional eye appeal.



Full original mint luster. No more than four scattered very small contact marks or flaws, none in focal areas. No visible hairlines or scuff marks. Exceptional eye appeal.



Very attractive, full mint luster and sharp strike. No more than two small non-detracting marks or flaws. No visible hairlines or scuff marks. Exceptional eye appeal.



Full original luster of the highest quality. No flaws whatsoever visible, even under 4x magnification. Outstanding eye appeal. The perfect coin.



A specially made coin distinguished by sharpness of detail and usually with brilliant mirror-like surfaces. Proof refers to the method of manufacture and is not a condition. There are 11 grades of PR coins, ranging from PR-60 to PR-70.



Unattractive with little if any mirror characteristics. There may be large detracting contact marks or damage spots. Heavy hairlines and possible large scuff marks. Rim nicks and poor eye appeal.



Mirror characteristics diminished or greatly impaired. Large and small contact marks throughout. Lots of detracting hairlines. Unattractive eye appeal.



Original or impaired mirror characteristics. May have distracting marks in prime focal areas. Hairlines throughout. Marginally acceptable eye appeal.



Mirror field may be slightly impaired. Numerous small contact marks and a few heavy marks are expected. Many light hairlines are visible without magnification. Moderate eye appeal.



Fully original mirror fields. May have a fair number of small contact marks, but only one or two heavier marks are acceptable. A few hairlines under low magnification are acceptable. Pleasing eye appeal.



High quality mirror surface. A few small scattered contact marks, or two larger marks, are acceptable. A few hairlines under magnification are visible. Very pleasing eye appeal.



Full mirror surface and above average quality strike. No more than two or three minor but noticeable contact marks. A few light hairlines may show under magnification. Above average eye appeal.



Full mirror surface and sharp strike. Three or four tiny contact marks, with one or two in prime focal areas. No hairlines visible to the naked eye. Exceptional eye appeal.



Full mirror surface and attractive sharp strike. No more than four light scattered flaws. No hairlines. Exceptional eye appeal.



Full mirror surface and very attractive sharp strike. One or two very small flaws, none in prime focal areas. Exceptional eye appeal.



Full mirror surface and highest quality strike. No flaws visible, even under magnification. Outstanding eye appeal. The perfect coin.

Other factors that are even more subjective also contribute towards a coin's grade. These include eye appeal, strength of strike, blemish location, natural toning, and coloration.

Why Buy Morgan Silver Dollars?

The Morgan silver dollar is neither an obscure nor rare coin investment. There are a number of reasons for it being widely valued by both investors and collectors.

How to Buy Morgan Silver Dollars on eBay

The eBay website includes thousands of Morgan silver dollar listings. So many choices in one place makes it easy to compare inventories and prices among sellers, as well as increase your knowledge of the Morgan dollar market. Entering keywords into the eBay search engine is the best place to start. Morgan silver dollars are found under the categories Coins & Paper Money and Collectibles.

If a search of the eBay site does not provide the items you are looking for, you have other options. Go to the eBay Stores site where eBay vendors list all their goods in one place. Take a more passive approach to your search for Morgan dollars, and let eBay's vendors come to you. You can describe what you are looking for and post it in the Want It Now section. You can also save a search on your My eBay account under the subsection My Saved Searches. This makes it easy to keep searching over multiple visits.

eBay is the world's largest online marketplace. It is serious about protecting all members of the community. eBay monitors all transactions, provides a seller rating and feedback system, offers Buyer Protection Services, and provides an easy-to-use Resolution Center to ensure that every purchase happens as you expect it to.

Ultimately it is your responsibility to do your research before you make a decision. Review seller ratings, contact them directly if you have questions, and take note of all their charges before you make a purchase. Consider protecting your order with insurance, and ask about returns policies if those are not clear.

All purchases and refunds are handled through the PayPal payment system. Go to the PayPal website if you have any questions on how this works. Do not pay for your purchases outside of PayPal. If you do, your purchases are not protected by eBay's Buyer Protection Program.

If you are new to the eBay community, eBay's Learning Center provides written instructions and video tutorials. Look to eBay University for online classroom instruction on how to participate in the eBay community. eBay's customer service is always available to answer your questions.


The Morgan dollar is not an obscure coin investment. It has personal meaning because so many can connect to its value in one form or another. One of the most rewarding things about 1878 silver dollar collecting is the feeling that you are in possession of a piece of American history. This is especially true of the oldest coins in the series, of which there are plenty to go around. Collecting Morgan silver dollars is a very inexpensive way for any novice collector to start a new hobby.