Morgan Silver Dollar

Morgan Silver Dollar

By Daniel Malone

Philadelphia and referred to as "Plain" or "P". Also to be noted, the only date to have the "D" is the 1921. The mint mark is located on the back, or reverse (the side of the coin with the eagle and reef design), and just under the said reef, and just above the bottom of the rim. (Refer to diagram above.)

Morgan Dollars are the most popular coin to collect because of the amount minted. However, there were several historical instances when many were melted by the US Government for their silver content, and some like the 1884-S were mostly circulated, causing some dates and mints to become scarce in uncirculated condition. Of course, there are low mintage examples like the 1893-S and the 1894-P which and are considered 'key dates' of the series.

Another aspect that has helped the popularity of this series is VAM attributions. A VAM is an acronym for Leroy Allen and A. George Mallis who where numismatic authors and researchers. Together they discovered many Morgan varieties, or slight details and differences in the die strikes and design elements of each date. VAM collecting is a very popular, and sometimes lucrative, cherry pickers dream. It's another reason a coin collector should know the nomenclature of Morgan Dollar design. By nomenclature, I mean the names of various parts or design elements of the Morgan Dollar.

Many Morgan Dollars demand large premiums in the higher grades or with VAM attributions, so buyers should be wary of most grading companies or dealers that place the highest grades on the silver dollar. Use only highly recommended grading companies to grade, authenticate and attribute your coins.

If one is seeking raw or ungraded example in a high grade, the first thing to look is the absence of contact marks on Liberty's Cheek, then the absence of contact marks in the fields surrounding Liberty's Head. It needs to be noted, that most Morgan Dollars will have contact marks in these areas from banging against other coins in the mint bags, and the least amount of these marks a coin has, the higher the coin will grade.

Also, the coin will not have any wear on the highest points of the design. Sometimes a coin will have roll friction or be weakly struck, so it takes practice, experience, and advice (from other knowledgeable collectors), dealers, and maybe a few submissions to a top tier grading company like PCGS to learn the differences in grades and grading.

If you collect or decide to collect Morgan Dollars, or any coin, make sure you ask questions, check people's reputation, do research before purchasing these often over-graded and misrepresented silver dollars.

SPECIFICATIONS:

Designer: George T. Morgan

Diameter: 38.1 millimeters

Metal Content:

Silver - 90%

Copper - 10%

Weight: 26.73 grams

Edge: Reeded

Mint mark: If none can be found it is (Philadelphia)

¬ Liberty's Head

¬ Denticles

Fields ®

Reef ®

Mint Mark ®

¬ Blossoms

Obverse

Reverse

¬ Tail Feathers

¬ Arrows

¬ Designer Initial "M"

MORGAN SILVER DOLLARS 1878-1904-(1921)

Arrow Knocks ®

Morgan Dollar

1878-84

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These links are targeted to return results for only the Morgan Dollar date you click.

1894-98

1885-93

1899-1904, 1921

Rolls of Morgan Dollars

Unsearched Morgan Dollars

Collections of Morgan

PCGS Morgan Dollars

MORGAN DOLLAR VAM VARIETIES

Government Services Administration (GSA)

GSA HOLDER MORGAN DOLLARS

Cherry Picker's List:

Key Dates:

1978 CC

1879 CC

1880 CC

1881 CC

1882 CC

1883 CC

1884 CC

1885 CC

1888-S

1889-S

1890 CC

1891 CC

1892 CC

1892-S

1893-P

1893 CC

1893-O

1893-S

1894-P

1894-O

1894-S

1895-P

1895-O

1895-S

1899-P

1900-O/CC

1902-S

1903-S

1903-O

1904-S

VAMS:

1878 7/8TF Strong

1878 7/8TF Triple Blossoms

1878-S Long Nock Varieties

1879-CC Large CC-Small CC

1880 Knobbed 8

1880/ 79 Reverse of 78

1882-O/S Varieties

1883 Sextupled Stars

1887/6 Over Date

1887 Donkey Tail

1887/6-O Over Date

1888-O Scarface

1888-O Hot Lips Picture

1889 IN on obverse

1889-O E on reverse

1890-CC TailBar

1891-O E on reverse

1900-O Die Break through date.

1900-O/CC varieties

1901 Shifted Eagle

1902 Doubled Ear

1921 Chapman Proof

1921 Zerbe Proof

1921 Pitted Reverse

1921-D TRU-T

Images courtesy of CoinAuctionsHelp.com

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Many collectors know little about the design elements of a Morgan Dollar. It understandable since 1921 was the last year Morgan Dollars were minted, but there are a few elements of the design, along with a bit of history that collectors should learn about in regard to this very popular U.S. Coin series.

Morgan Silver Dollars where minted from 1878-1904, then again in 1921. The so-called Cartwheels where minted in San Francisco (S), New Orleans (O), Carson City (CC), Denver (D), and if the coin has no mint mark then it was minted at the

1921 CHAPMAN & ZERBE PROOFS

Proof examples of this date are quite different from those of earlier dates. Two Proof versions of the 1921 Morgan Dollar were struck, both apparently at the request of individuals outside the Mint.

The first version, known as the "Zerbe" Proof, was struck for the noted numismatist, Farran Zerbe, who supposedly had a fit when the new Silver Dollars of 1921 turned out to be a resurrection of the Morgan Dollar type instead of the new Peace Dollar type that he had promoted. The exact mintage is unknown but the figures bandied about in the past have ranged from a low of 20 to a high of 200.

Breen offered some die characteristics of the Zerbe strikings, but be wary, as circulation strikes also exist from these dies:

"Obv. Small die scratch up to r. from left tip of serif of left upright of second U in UNUM to border. Left base of first 1 above center of dentil, r. base of second 1 slightly r. of left edge. Central details far sharper than on regular uncirculated pieces. Rev. Very faint recutting visible on left upright of T in UNITED. Horizontal die file marks plainly within ribbon bows and at left and right of them; vertical die file marks at inner berries nearest to left base of N and T in UNITED. Eagle's breast feathers unusually sharp. Brilliant proofs as in 1904 and earlier years, carelessly made..."

The second Proof version is the so-called "Chapman" Proof, named after the Philadelphia coin dealer, Henry Chapman, whose name appears on a Mint invoice (dated June 11, 1921) selling him "10 proof silver dollars 1921". For years, the mintage was thought to have been limited to only the ten coins, but now we know that additional "Chapman" Proofs were struck. "Chapman" Proofs are super brilliant and have only 16 berries in the wreath on the reverse, as opposed to 17 on the "Zerbe" Proofs. Additional die characteristics include a hollow area around Morgan's initial on the truncation line on the obverse (caused by die polishing) and light die striations around UN, AM, and RICA on the reverse.

Sources and/or recommended reading:

"The PCGS Population Report, April 2003" by The Professional Coin Grading Service

"Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins" by Walter Breen

"Walter Breen's Encyclopedia of United States and Colonial Proof Coins 1722-1977" by Walter Breen

Images courtesy of Superior Galleries

United States Dollars

Flowing Hair Dollar

Draped Bust Dollar

Seated Liberty Dollar

Trade Dollar

Morgan Dollar

Peace Dollar

Eisenhower Head Dollar

Susan B. Anthony Dollar

Sacagawea Dollar

Presidential Dollars

Are your Morgan Dollars fake? Click Here

How To Grade Morgan Dollars Morgan Grading

1878 7/8 Tail Feathers

There two main types strong 8TF and weak 8TF.

1878 with reverse of 1878 (concave).

1878 with reverse of 1879 (convex).

Date/Mint Mark	Mintage	Proof Mintage	Grade	Value
1878 7/8 TF Includes all varieties	10,500,000	750	G4	$25
1878 CC	2,212,000	0	G4	$85
1879 CC	756,000	0	G4	$150
1880 CC	591,000	0	G4	$125
1881 CC	296,000	0	G4	$375
1882 CC	1,133,000	0	G4	$75
1883 CC	1,204,000	0	G4	$75
1884 CC	1,136,000	0	G4	$100
1885 CC	228,000	0	G4	$450
1885-S	1,497,000	0	G4	*$20
1886-S	750,000	0	G4	$30
1887-S	1,771,000	0	G4	*$20
1888-S	657,000	0	G4	$65
1889 CC	350,000	0	G4	$30
1889-S	700,000	0	G4	$550
1890 CC	2,309,041	0	G4	$90
1891 CC	1,618,000	0	G4	$90
1892 CC	1,352,000	0	G4	$140
1892-S	1,200,000	0	G4	*$20
1893-S	100,000	0	G4	$2,500
1893	378,000	792	G4	$200
1893 CC	677,000	0	G4	$225
1893-O	300,000	0	G4	$175
1894	110,000	972	G4	$1,200
1894-O	1,723,000	0	G4	$45
1894-S	1,260,000	0	G4	$45
1895	12,000 (None Reported)	880	G4	$17,000
1895-O	450,000	0	G4	$300
1895-S	400,000	0	G4	$350
1899	330,000	846	G4	$125
1899-S	2,562,000	0	G4	*$20
1900-O/CC	Unkown	0	G4	$35
1900-S	3,540,000	0	G4	*$20
1901-S	2,284,000	0	G4	$45
1902-S	1,530,000	0	G4	$45
1903	4,652,000	755	G4	$40
1903-S	1,241,000	0	G4	$50
1903-O	4,450,000	0	G4	$300
1904	2,788,000	650	G4	*$20
1904-S	2,304,000	0	G4	*$25
VAMS
1878 7/8 TF Triple Blossoms			G4	$400
1878-S Long Arrow Knock			G4	$75
1879-CC Large And Small Mint Mark			G4	$150
1880 Knobbed 8 VAM-1A			G4	$75
1880/79-CC Reverse Of 78'			G4	$85
1882-O/S Varieties			G4	*$20
1883 Sextupled Stars			G4	*$20
1887/6-O Over Date			G4	$25
1887 Donkey Tail			G4	$75
1887/6 Over Date			G4	*$20
1888-O Scarface			G4	$50
1888-O Hot Lips			G4	$75
1889 IN on reverse			G4	$2,000
1889-O E on reverse			G4	$50
1890-CC Tailbar			G4	$125
1891-O E on reverse			G4	$35
1900-O Die Break through Date			G4	$75
1900-O/CC Varieties			G4	$35
1901 Shifted Eagle			G4	$125
1902 Doubled Ear			G4	$30
1921 Chapman Proof			MS60	$17,500
1921 Zerbe Proof			MS66	$18,400
1921 Pitted Reverse			G4	*$20
1921-D TRU-T No S in TRUST			G4	*$20
Dates with a star * designation are not necessarily rare in G4, but their value increases enough the next grade (VG) to be allowed on this list, and should increase for G4 grade in the future. As stated before, if your date and mint is not listed, the G4 value starts at $20 for common Morgan Dollars.

A Little Note Before Using This Price Guide:

The below values are just a guide of what the particular date and mint has sold for, and not what a dealer will pay for the coin. A collector should consult The Official Coin Blue Book for values dealers might pay. The list is a compilation of the most rare dates and of the most valuable and recognized VAMS only. If a date and mint is not listed then it's considered common and the value for common Morgan Dollars is $20.00 in G4.

To see what a Morgan in G4 condition looks like click here.

Each value is for a coin that will Grade in Good condition, and as the grade (that's not listed) increases so shall the value of that particular coin. Also, a coin that's not listed with a mint mark is referred to as 'P' or 'Plain' and was struck at the Philadelphia Mint were they didn't put a mint mark on Morgan Dollars.

GSA or Government Service Administration holder values are not listed, and they demand a higher premium; especially non-CC mint marked dates i.e. 1904 GSA instead of 1880-CC GSA.

Further research should be considered, besides the aforementioned Blue Book, before determining the actual value of a particular date, mint and grade of a Morgan Dollar. For example, CDN or The Coin Dealer News Letter (Greysheet), The Red Book (The official Guide Book Of United States Coins), ebay completed auctions, ads in coin publications with a list of what the dealer is paying, or a trustworthy, local dealer.