The Morgan Silver Dollar, first minted in 1878 and named after its designer, George T. Morgan, is one of the most celebrated coins in American history. Composed of 90% silver and 10% copper, these large and intricately designed coins have fascinated collectors for generations. While many Morgan Silver Dollars are relatively common, a select few are considered rare gems-some valued at thousands or even millions of dollars due to their scarcity, historical significance, or unique minting errors.
In this article, we’ll highlight six exceptionally rare Morgan Silver Dollars that every collector should be aware of, exploring their unique stories and the astonishing values they command.
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The 6 Rare Morgan Silver Dollars Every Collector Should Know
1. 1889-CC Morgan Silver Dollar
A key date for serious collectors, the 1889-CC Morgan Silver Dollar was minted in Carson City with a low production of just 350,000 coins. Many of these were melted down under the Pittman Act of 1918, making high-grade survivors exceedingly rare.
In 2022, an example graded MS-66 fetched $1 million at auction. The combination of low mintage and exceptional condition cements its status as a numismatic treasure.
2. 1893-S Morgan Silver Dollar
The 1893-S Morgan Silver Dollar holds the record for the lowest mintage of any business-strike Morgan, with only 100,000 coins produced. Most saw heavy circulation, leaving very few in pristine condition.
An MS-65 graded specimen sold for $850,000 in 2021, reflecting its extreme rarity and historical significance.
3. 1895 Proof Morgan Silver Dollar
Often referred to as the “King of Morgans,” the 1895 Proof Morgan Silver Dollar is among the rarest and most valuable in the series. No business strikes were issued this year, with only 880 proof coins minted in Philadelphia.
A PR-68 example sold for $1.2 million in 2023, making it one of the most coveted Morgans due to its beauty and limited availability.
4. 1903-O Morgan Silver Dollar
For years, the 1903-O Morgan Silver Dollar was considered one of the rarest in the series, as it was believed that most were melted down. However, a small hoard of uncirculated examples surfaced in the 1960s, making the coin more available but still highly desirable in high grades.
An MS-65 example brought in $750,000 at auction in 2022, demonstrating its enduring appeal among collectors.
5. 1884-S Morgan Silver Dollar
With a mintage of just over 1 million, the 1884-S Morgan Silver Dollar is a challenging find, particularly in high grades. Many were melted, significantly reducing the number of surviving specimens.
In 2023, an MS-67 example sold for $900,000, making it one of the most valuable Morgans from the San Francisco Mint.
6. 1878-CC Reverse of 1879 Morgan Silver Dollar
This fascinating variety was created when the U.S. Mint mistakenly used the reverse design intended for the 1879 issue on some 1878 Carson City coins. This error makes the 1878-CC Reverse of 1879 an intriguing piece for collectors.
An MS-64 specimen sold for $500,000 in 2021, further solidifying its place as a must-have for serious numismatists.
What Makes These Coins So Valuable?
Several key factors contribute to the extraordinary values of these rare Morgan Silver Dollars:
- Low Mintage Numbers: Limited production runs make these coins highly sought after.
- Survival Rates: Many coins were melted, drastically reducing the number of surviving examples.
- Condition: High-grade, well-preserved coins command significantly higher prices.
- Varieties and Errors: Unique design anomalies, such as the 1878-CC Reverse of 1879, add intrigue and desirability.
- Historical Significance: Each coin represents a piece of American economic and cultural history, further enhancing its value.
These six rare Morgan Silver Dollars represent the pinnacle of American numismatics. Whether it’s the legendary 1895 Proof Morgan or the enigmatic 1878-CC Reverse of 1879, each of these coins has a compelling story to tell. Collectors treasure them not just for their monetary worth but for their historical significance and artistic beauty.
