Silver dollars are the workhorses of US numismatics — heavy, beautiful, and historically significant. But their value varies enormously based on type, date, mint mark, and condition. Here's how to decode what you have.
Morgan Dollars (1878–1921)
Morgan dollars are the most collected US coin series. Designed by George T. Morgan, they were struck at the Philadelphia, New Orleans, San Francisco, Carson City, and Denver mints. Most common-date Morgans in circulated condition are worth $30–50 (close to their silver melt value of ~$17 at current prices). But certain dates and mint marks command significant premiums:
- 1893-S: The "King of Morgans" — $10,000+ even in VG condition
- 1895: Proof-only issue, extremely rare — $50,000+
- 1879-CC, 1889-CC, 1893-CC: Carson City key dates, $500–5,000+
- Common dates (1881-S, 1885-O, 1921): $30–60 circulated, $50–150 in MS grades
Peace Dollars (1921–1935)
Peace dollars were struck to commemorate the end of World War I. They're somewhat less popular than Morgans but still widely collected. Most circulated Peace dollars are worth $25–45. Key dates include:
- 1921: High relief first-year issue — $100–300 circulated
- 1934-S: Semi-key date — $50–200
- Common dates (1922, 1923, 1924): $25–40 circulated
Eisenhower Dollars (1971–1978)
Most Eisenhower dollars are copper-nickel clad and have no silver content. However, 40% silver versions were made for collectors and are marked on the edge. Check for "S" mint mark — San Francisco struck the silver issues. Clad Ikes: face value. Silver Ikes: $10–20.
How to Check Condition
Coin condition (grade) is measured on a 70-point scale. For silver dollars:
- Poor (P-1) to Good (G-4): Heavily worn, date barely visible — worth melt
- Very Good (VG-8) to Fine (F-12): Major design elements clear — 10–20% over melt
- Very Fine (VF-20) to Extremely Fine (EF-45): Light wear, sharp detail — 20–50% over melt
- About Uncirculated (AU-50 to AU-58): Slight friction only — 2–3x melt
- Mint State (MS-60 to MS-70): No wear — premiums grow exponentially with grade
Current Silver Melt Value
A Morgan or Peace dollar contains 0.7734 troy ounces of 90% silver, so the actual silver content is 0.7234 oz. At current silver prices, the melt value is the floor for any common-date silver dollar. Check our live catalog for current spot-linked prices.