Guides A Plain-English Guide to Morgan and Peace Silver Dollars
Guide · 6 min read
A Plain-English Guide to Morgan and Peace Silver Dollars
Morgan and Peace dollars are the classic big silver dollars of American coinage, and they show up constantly in Kansas collections. If you have a few, or a whole roll, this guide covers what drives their value.
The short answer: some sit near their silver, and some are worth a great deal more, and the difference is date, mint mark, and grade.
The Morgan dollar, 1878 to 1921
Morgan dollars were minted from 1878 to 1904 and once more in 1921. Each holds a little over three-quarters of an ounce of silver, so even a common one carries a solid melt value plus a steady collector premium.
Look on the back, below the wreath, for the mint mark: none for Philadelphia, O for New Orleans, S for San Francisco, D for Denver, and the prized CC for Carson City.
The Peace dollar, 1921 to 1935
The Peace dollar took over the design and ran from 1921 to 1935. It holds the same silver and stays in steady demand, with the 1921 high-relief issue and the low-mintage 1928 among the more wanted dates.
Key dates worth watching for
A handful of dates can be worth many times melt even in modest condition, so it pays to know the names.
- 1889-CC Morgan, a celebrated Carson City rarity
- 1893-S Morgan, the great key to the series
- 1895 Morgan, known mainly as a proof-only rarity
- 1928 Peace dollar from Philadelphia, the series key
- Any Carson City (CC) Morgan
How grade moves the number
Condition changes everything. A common date might carry a small premium worn but a large multiple of that in high uncirculated grades. That is why dollars should be read one at a time, not weighed as a group.
And never clean a silver dollar. A cleaned coin can shed most of its premium even while looking brighter to the eye.
Key takeaways
- Morgan and Peace dollars hold about 0.77 oz of silver each.
- Mint marks, especially CC, and dates lift value above melt.
- Key dates like 1889-CC and 1893-S bring many times metal.
- Grade matters, so appraise dollars one at a time and never clean them.
FAQ
Common questions
Where is the mint mark on a Morgan?
On the reverse, just below the wreath. No mark means Philadelphia; O, S, D, and CC stand for New Orleans, San Francisco, Denver, and Carson City.
Are all old silver dollars valuable?
They all hold silver and carry at least a melt-based value with a collector premium. Whether one is worth much more depends on its date, mint mark, and grade, which is why each is checked.
Request a quote
Get a free appraisal
When you are ready, send a few details and a buyer will call you back the same day, no obligation.