Morgan dollars are among the most cherished U.S. coins, beloved for their historical significance, stunning design, and high silver content. However, certain key date Morgan dollars stand out due to their rarity and immense demand among collectors. These coins are highly sought after and can command high prices in the numismatic world.
In this article, we’ll delve into the top 10 key date Morgan dollars and explain what makes them so valuable.
1. 1893-S Morgan Dollar
The 1893-S Morgan Dollar is often considered the crown jewel of the Morgan series due to its incredibly low mintage. It was minted in San Francisco and is known for having the smallest production of any Morgan dollar, making it extremely rare and desirable.
- Mintage: 100,000 coins
- Current Value: $3,000 to $300,000 depending on condition
- Why It’s Valuable: Its low mintage and rarity in high grades make it a collector’s favorite.
2. 1889-CC Morgan Dollar
Minted in Carson City, the 1889-CC Morgan Dollar is another highly valuable coin. Carson City mint issues are always in demand, and this particular one is especially prized.
- Mintage: 350,000 coins
- Current Value: $1,500 to $400,000
- Why It’s Valuable: Low mintage and difficulty in finding uncirculated versions.
3. 1895 Morgan Dollar (Proof Only)
Known as “The King of Morgans,” the 1895 Morgan Dollar was only produced in proof form, making it a rare and valuable collector’s item.
- Mintage: 880 proofs
- Current Value: $40,000 to $200,000
- Why It’s Valuable: As a proof-only issue, it is incredibly scarce and coveted in all grades.
4. 1894 Morgan Dollar
This coin is another rarity, minted in very small quantities at the Philadelphia Mint. The 1894 Morgan Dollar is highly sought after by collectors.
- Mintage: 110,000 coins
- Current Value: $4,000 to $200,000
- Why It’s Valuable: Its very low mintage makes it one of the scarcest coins in the series.
5. 1884-S Morgan Dollar
Although the 1884-S Morgan Dollar had a higher mintage than some others, most of these coins entered circulation, making uncirculated examples hard to come by.
- Mintage: 3.2 million coins
- Current Value: $100 to $300,000
- Why It’s Valuable: It’s difficult to find in mint state, leading to a large value difference between circulated and uncirculated coins.
6. 1901 Morgan Dollar
The 1901 Morgan Dollar may have been minted in higher numbers, but its value in high grades makes it one of the most sought-after coins in the series. Many were heavily circulated, making uncirculated examples rare.
- Mintage: 6.9 million coins
- Current Value: $50 to $250,000
- Why It’s Valuable: Rare in mint condition despite its higher mintage.
7. 1892-S Morgan Dollar
Another key date, the 1892-S Morgan Dollar saw widespread circulation, which makes high-grade examples scarce and valuable.
- Mintage: 1.2 million coins
- Current Value: $500 to $125,000
- Why It’s Valuable: High demand in uncirculated condition due to extensive circulation.
8. 1885-CC Morgan Dollar
Carson City Mint issues are always in demand, and the 1885-CC Morgan Dollar is no exception. While not as rare as other Carson City coins, its value is driven by the Carson City mintmark and its relative scarcity in higher grades.
- Mintage: 228,000 coins
- Current Value: $600 to $150,000
- Why It’s Valuable: Scarcity in mint condition and the popular Carson City mintmark.
9. 1879-CC Morgan Dollar
Another rarity from the Carson City Mint, the 1879-CC Morgan Dollar is particularly scarce in mint condition, making it highly sought after.
- Mintage: 756,000 coins
- Current Value: $500 to $100,000
- Why It’s Valuable: Its low mintage and difficulty in finding high-grade examples.
10. 1880-CC Morgan Dollar
The 1880-CC Morgan Dollar had a relatively low mintage and is highly desirable due to its Carson City mintmark. It also comes in several varieties, some of which are more valuable than others.
- Mintage: 591,000 coins
- Current Value: $300 to $80,000
- Why It’s Valuable: Low mintage, desirable Carson City mintmark, and collectible varieties.
Top 10 Key Date Morgan Dollars and Their Values
| Coin Name | Mintage | Current Value Range | Notable Feature |
|---|---|---|---|
| 1893-S Morgan Dollar | 100,000 | $3,000 to $300,000 | Lowest mintage of all Morgan dollars |
| 1889-CC Morgan Dollar | 350,000 | $1,500 to $400,000 | Scarce Carson City coin |
| 1895 Morgan Dollar | 880 (Proof) | $40,000 to $200,000 | Proof-only issue |
| 1894 Morgan Dollar | 110,000 | $4,000 to $200,000 | Extremely low mintage |
| 1884-S Morgan Dollar | 3.2 million | $100 to $300,000 | Rare in mint condition |
| 1901 Morgan Dollar | 6.9 million | $50 to $250,000 | Rare in uncirculated condition |
| 1892-S Morgan Dollar | 1.2 million | $500 to $125,000 | High demand in uncirculated condition |
| 1885-CC Morgan Dollar | 228,000 | $600 to $150,000 | Scarce Carson City mint issue |
| 1879-CC Morgan Dollar | 756,000 | $500 to $100,000 | Early Carson City issue |
| 1880-CC Morgan Dollar | 591,000 | $300 to $80,000 | Low mintage and desirable mintmark |
Why Are Key Date Morgan Dollars So Valuable?
Several factors contribute to the high value of key date Morgan dollars:
- Low Mintage: Many key dates were minted in very limited quantities, making them scarcer and more valuable.
- Historical Significance: Morgan dollars were minted during significant periods in U.S. history, enhancing their appeal to collectors.
- Mint Marks: Coins from certain mints, such as Carson City, are particularly prized due to their smaller production runs and association with U.S. history.
- Condition: Morgan dollars that were heavily circulated are less valuable than those found in uncirculated or proof condition, making high-grade examples more desirable.
- Collector Demand: Morgan dollars are one of the most popular U.S. coin series, and demand for key dates remains strong, driving up prices.
How to Preserve the Value of Key Date Morgan Dollars
If you own or plan to acquire a key date Morgan dollar, here are some tips for preserving its value:
Protection: Use protective holders or capsules to shield your coins from scratches and environmental exposure.
Storage: Keep coins in a dry, temperature-controlled environment to avoid tarnishing or damage.
Grading: Consider getting your coin graded by a professional service like PCGS or NGC to ensure buyers have confidence in its authenticity and condition.
Handling: Always wear gloves when handling coins to prevent oils from your hands from damaging the surface.
Key date Morgan dollars are not only beautiful coins but also valuable pieces of U.S. history. Their scarcity, historical context, and collector demand make them highly prized in the numismatic world.
