The Morgan Silver Dollar was first introduced back in the late 1800s, but its production was continued through the early stages of the 20th century. Though Silver Dollars have been a part of American coinage since the early days of the US Mint, the Morgan Silver Dollar is by far the most popular. For collectors, now is the perfect time to purchase these coins seeing as there are only ever going to be fewer and fewer of these coins available.
For most collectors, the goal is to find a Morgan that is in extremely well-preserved condition, but this is not always the simplest of tasks.
For coins that are more than a century old, the condition of the piece is something that is the source of constant wonder. Because these coins have been heavily circulated for decades on end, more are in sub-par condition than are in great condition. For this reason, you will see any prospective buyer take note of any and all imperfections on the faces of a given coin.
For most people, the best way to have a coin’s condition judged is to send the coin away for grading. Knowing that this is an expensive process, we have provided below an outline of the different coin grades as well as their characteristics.
Uncirculated: An Uncirculated coin is one that spent almost no time at all in circulation and did not incur any amount of damage. You will notice that these coins take on the appearance of a brand new coin in that all of the textured surfaces and inscriptions have been preserved. For collectors, these are the best of the best.
Extremely Fine: If a coin is determined to be Extremely Fine, this means that the piece is in great condition, but does show some damage. Under close inspection, you will notice some light scratching and other small signs of damage. These coins are also in great condition and are a great addition to any collection new or old.
Fine: If a coin is determined to be of Fine grade, this means that the coin in question plays host to a good bit of damage. From scratching to chipping and just about anything in between, you will notice these coins have seen better days. For collectors, these are great additions that are also quite affordable.
Good: Good is the lowest grade a coin can receive and is assigned to those pieces that have spent elongated periods of time in circulation. These coins will play host to a whole lot of damage that can vary dramatically from coin to coin.
When it comes to determining a price for the Morgan Silver Dollar, it is important that you pay attention to two factors. For one, because collectors care so much about the coin’s condition it only follows that those well-preserved pieces sell for the highest prices. Secondly, because multiple types of Morgans were minted every year, the exact type of coin you have also plays into the asking price. Listed below is a chart aimed at giving you a better idea of what you can expect to pay for a Morgan given its condition and type.
1903 Morgan Dollar
|1903 Morgan Dollar||N/A||N/A||$55||$65|
|1903 Morgan Dollar (O)||N/A||N/A||$350||$365|
|1903 Morgan Dollar (S)||N/A||N/A||$350||$1,600||Source: Red Book|