How much is a Morgan silver dollar worth?

Minted in 1878, The Morgan dollar coin, named after U.S. Mint’s seventh Chief Engraver George T. Morgan, was one of the first silver dollar minted after the Coinage Act of 1873. U.S. President, Rutherford Birchard Hayes, took possession of the first issues of the Morgan dollar, even though the creation of the coin came through the Bland-Allison Act, which he initially vetoed.

George T. Morgan, the coins designer, was originally from Birmingham England. After rising in the engraving profession in the UK, he moved to the United States in October of 1876 to take up the mantel of Assistant Chief Engraver.

The front face of the Morgan dollar coin features a female profile, a depiction of Lady Liberty. The image was inspired by a Philadephia-based teacher named Anna Willess Williams. Morgan was intrigued by Ms. Williams and believed her face to be perfect for his design.
The backside of the coin features a heraldic eagle with outstretched wings. When the coin was first created, many people took issue with the design of the eagle and even called it the buzzard coin citing that the eagle looked anemic.

After 1903, as silver reserves held by the U.S. Mint dwindled, the Mint stopped producing the Morgan dollar coin. Congress would later pass the Pittman Act allowing the melting and reminting of silver dollars, which resulted in new mintages of the Morgan dollar coin for only one year during 1921.

Morgan dollar coins enjoyed a rise in popularity when in the 1960s money bags containing uncirculated coins were uncovered in the U.S Treasury’s vault. This included coins that were previously considered rare due to their mintage years.

Collectors and investors were immediately intrigued and started to hoard coins effectively removing them from circulation. Some acquiring a significant quantity of the coins, bought at a bargain price.

Most Morgan silver dollars are worth around $25 in good condition and $50 Uncirculated. Certain years of coins can be quite valuable, however. The 1879-CC, 1884-S, 1889-CC, 192-S, 1893-S, and 1895-O can reach between $10,000 and $90,000 in mint condition.

 

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