Overview
About the Morgan Silver Dollar
The Morgan dollar is a 90% silver US dollar coin from the late 1800s and 1921. Each one holds about 0.773 troy ounces of pure silver when new.
Unlike bullion coins, Morgans are priced partly on their silver and partly on collector demand. Even common, worn dates usually sell above melt value, and rare dates and mint marks can be worth many times more.
For background on the metal itself, see our silver guide.
Reference
Specifications
| Issuer | US Mint |
|---|---|
| Country | United States |
| First year | 1878. Struck for circulation from 1878 to 1904 and again in 1921. Since 2021 the US Mint has also made .999 fine silver Morgan dollars for collectors, which have different specs. |
| Type | Semi-numismatic coin |
| Metal | Silver |
| Purity | .900 (90% silver, 10% copper) |
| Gross weight | 26.73 g (0.8594 troy oz) |
| Pure silver content | 0.7734 troy oz (24.057 g) |
| Diameter | 38.1 mm |
| Face value | $1 (US) |
| Available sizes | One size |
Try it
Melt value calculator
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Melt value
$46.81
0.7735 troy oz of pure silver
Melt value is the metal content at spot. Dealers sell above it (the premium) and usually buy below it. Rare coins can be worth far more than melt.
Pre-set to one Morgan Silver Dollar. Change the weight to value several coins, or a different size.
Look closer
Design
Design
Designed by George T. Morgan. The obverse shows a profile of Liberty wearing a cap and a wreath; the reverse shows an eagle with outstretched wings holding arrows and an olive branch.
Mint marks (O, S, CC or D, or none for Philadelphia) appear on the reverse below the wreath.
Watch out for
What to check when buying
- Heavily counterfeited. Fake Morgans are among the most common counterfeit coins. Weigh and measure, and be wary of cheap lots online.
- Dates that never existed. No Morgans were struck from 1905 to 1920, and the Carson City mint (CC) stopped making them after 1893. A coin with one of those dates is fake.
- Fake key dates and altered mint marks. Valuable dates such as the 1893-S are faked or made by altering a common coin. Buy expensive Morgans graded by a major grading service.
- Cleaned coins. Polishing or dipping cuts collector value sharply. Unnaturally bright, hairlined coins are often cleaned.
Retirement accounts
IRA eligibility
Generally no. Morgan dollars are collectibles under US tax rules and their .900 silver is below the bullion purity standard. Rules change and custodians set their own lists, so confirm with your IRA custodian before buying.
IRA metal has to be held by a custodian in an approved depository, not at home.
Good to know
Frequently asked questions
How much silver is in a Morgan Silver Dollar?
A Morgan Silver Dollar contains 0.7734 troy oz (24.057 g) of pure silver at .900 fineness, in a coin weighing 26.73 g in total.
What is a Morgan Silver Dollar worth?
At the latest silver spot price of $60.52 per troy ounce, the metal in one coin is worth about $46.81. As a collector coin it usually sells above melt value, and rare dates can be worth far more.
Can a Morgan Silver Dollar go in an IRA?
Generally no. Morgan dollars are collectibles under US tax rules and their .900 silver is below the bullion purity standard. Rules change and custodians set their own lists, so confirm with your IRA custodian before buying.
How can I tell if a Morgan Silver Dollar is fake?
Compare it with the published specs: a genuine coin weighs 26.73 g and is 38.1 mm across. Heavily counterfeited. Fake Morgans are among the most common counterfeit coins. Weigh and measure, and be wary of cheap lots online. If you're unsure, ask an established dealer to test it.
This page is for general education only and isn’t financial, tax or legal advice. Melt value is an estimate of metal content, not a dealer quote, and prices may be delayed. Check current details with a dealer or a licensed adviser before making decisions.