Old Silver Dollars Value: How Much Are Your Morgan & Peace Dollars Worth?
The classic US silver dollar is one of the most collected coins in the world. Their large size, high silver content, and beautiful designs make them a favorite. If you've inherited an old silver dollar or found one in a collection, you're likely wondering what it's worth. This guide will show you how to determine the value of the two most common types: the Morgan Silver Dollar and the Peace Silver Dollar.
Quick Fact: All Morgan and Peace dollars are made of 90% silver, so their minimum value is tied to the current price of silver. This "melt value" is typically between $15 and $25, but rare dates are worth much more.
Morgan Silver Dollars (1878-1904, 1921)
The Morgan Dollar, with its iconic design of Lady Liberty, is the workhorse of the silver dollar world. With dozens of dates and mint marks, values can range from under $30 to over $100,000.
Quick Value Chart for Common Date Morgan Dollars
This chart shows approximate values for the most common dates (like 1921, 1881-S, 1885-O) in average condition.
| Condition | Description | Estimated Value |
|---|---|---|
| Circulated (Worn) | Details are worn down from use. | $25 - $40 |
| Uncirculated (BU) | Looks brand new with original mint luster. | $50 - $90+ |
Key Date & Valuable Morgan Dollars to Look For:
- 1895: The "King of Morgan Dollars." Only 880 were made as proofs. A circulated version doesn't exist. Worth $50,000+.
- 1889-CC: The Carson City (CC) mint mark is highly desirable. This date is a major rarity. Worth $5,000 to $100,000+.
- 1893-S: The rarest Morgan issued for circulation, with a mintage of just 100,000. Worth $3,000 to $50,000+.
- 1895-O: A key date with a low survival rate in good condition. Worth $250 to $10,000+.
- All "CC" Mint Marks: Any Morgan dollar with a "CC" mint mark (found on the reverse, below the wreath) carries a premium and is worth at least $100+.
Peace Silver Dollars (1921-1935)
Minted to commemorate the end of World War I, the Peace Dollar has a beautiful Art Deco design. While generally less expensive than Morgans, the series has its own key dates.
Key Date & Valuable Peace Dollars to Look For:
- 1928: The key date of the series, with only 360,649 minted. Worth $200 to $1,000+.
- 1921: The first year of issue, featuring a unique "High Relief" design that was difficult to strike. Highly popular. Worth $100 to $500+.
- 1934-S: A low mintage coin that is particularly scarce in uncirculated grades. Worth $50 to over $2,000.
Frequently Asked Questions (FAQ)
How do I tell if my silver dollar is real?
Genuine 90% silver dollars weigh approximately 26.73 grams. They are not magnetic. A common test is the "ring test"—balancing the coin on your fingertip and tapping it with another coin should produce a high-pitched, long-lasting ring, unlike the dull thud of most fake metals.
Should I clean my silver dollar?
No! Never clean an old coin. Cleaning creates fine scratches and removes the natural toning (patina), which collectors value. A cleaned coin is often worth only its silver melt value, destroying any potential collector premium.
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