Silver dollar coin

Silver dollar coin, a historic symbol of American economic expansion in the 19th century, widely collected today.

About this subject

The silver dollar is a coin minted by the United States between 1794 and 1935, with interruptions, and remains one of the most iconic items in world numismatics. The best-known versions are the Morgan Dollar (1878-1904, 1921) and the Peace Dollar (1921-1935). The Morgan Dollar, designed by George T. Morgan, consists of 90% silver and 10% copper, weighs 26.73 grams, and has a diameter of 38.1 mm. The Peace Dollar, created to commemorate the end of World War I, has an identical composition but a different design by Anthony de Francisci.

Production of silver dollars was driven by the Bland-Allison Act of 1878, which required the government to purchase large amounts of silver for coinage, aiming to support silver producers and expand the money supply. This resulted in millions of coins, many of which remained in Treasury vaults for decades. During the 1960s, the government sold tons of these coins to collectors, fueling the numismatic market. The value of a silver dollar varies greatly: common circulated examples may be worth US$20 to US$40, while rare pieces like the 1893-S Morgan can fetch hundreds of thousands of dollars at auction.

Notably, the 1889-CC Morgan Dollar (minted in Carson City, Nevada) is highly sought after, with only 350,000 pieces produced. The 1928 Peace Dollar is the rarest of its series, with fewer than 360,000 minted. The silver used in these coins came mainly from western U.S. mines, such as the famous Comstock Lode. Today, silver dollars are frequently found in inheritance lots and at antique fairs, and are also used as a precious metal investment. Their popularity led to modern commemorative versions like the American Silver Eagle (1986), which maintained the historic diameter and weight but with 99.9% purity.

Frequently Asked Questions

How much is a common silver dollar worth?

A common Morgan or Peace dollar in circulated condition (G-4 to VF-20) is worth between US$20 and US$40, depending on date and demand. Higher grade coins (MS-60+) can reach hundreds of dollars.

What is the silver content of a silver dollar?

Historic silver dollars (Morgan and Peace) contain 90% silver and 10% copper, with a total weight of 26.73 grams, yielding 24.06 grams of pure silver.

What is the rarest silver dollar?

The 1893-S Morgan Dollar is considered the rarest and most valuable, with only 100,000 minted. In high grade, it can exceed US$500,000 at auction.