Morgan Dollar Melt Value Today
Current melt value: $50.71 per coin
Last updated: 8/11/2026, 4:51:42 AM · Live data
Morgan Dollar Melt Value Calculator
Prices last updated: 8/11/2026, 4:51:42 AM
Dealers typically pay 80–95% of melt for common silver coins.
| Morgan Dollar Specifications | |
|---|---|
| Years Minted | 1878–1904, 1921 |
| Composition | 90% Silver, 10% Copper |
| Fineness | 0.9 |
| Total Weight | 26.73 g |
| ASW (Silver Content) | 24.057 g (0.7734 ozt) |
| Face Value | $1.00 |
| Current Melt Value | $50.71 |
Obverse
Reverse
How to Identify the Silver Version
All Morgan Dollars are 90% silver — there are no clad or non-silver versions. The edge is reeded (ridged), not smooth. Look for the mintmark below the wreath on the reverse: "O" for New Orleans, "S" for San Francisco, "CC" for Carson City, and "D" for Denver. No mintmark means Philadelphia.
Key Dates — Do Not Sell for Melt
1889-CC, 1893-S, 1895 (proof-only), 1881-CC, 1884-CC. Key dates can be worth hundreds to thousands of dollars above melt — do not sell rare dates for melt value.
About the Morgan Dollar
The Morgan Dollar was minted from 1878 to 1904 and again in 1921, designed by George T. Morgan, an assistant engraver at the US Mint. It was struck at Philadelphia, New Orleans, San Francisco, Carson City, and Denver. The coin bears Lady Liberty on the obverse and a bald eagle with wings spread on the reverse, surrounded by a wreath.
Each Morgan Dollar contains 0.7734 troy ounces of pure silver — the same silver content as the later Peace Dollar. The total weight is 26.73 grams at 90% silver and 10% copper. The melt value is calculated by multiplying 0.7734 by the current spot silver price, which is rendered in the table above and updates with the market.
Morgan Dollars were produced in enormous quantities — over 650 million across all mints and years — because the Bland-Allison Act required the Treasury to purchase silver and coin it into dollars. Many were stored in vaults and never circulated, which is why large quantities of uncirculated "vault" coins exist today. The Pittman Act of 1918 authorized melting up to 350 million silver dollars, which destroyed many Morgan Dollars and contributes to the scarcity of certain dates.
For junk silver buyers, Morgan Dollars are the benchmark coin. They trade in rolls and bags based on their silver content, with a small premium over melt for common dates. The Carson City mint coins ("CC" mintmark) carry the highest premiums because of low mintages and romantic Western associations. The 1889-CC, 1893-S, and 1895 (proof-only) are the three most sought-after dates.
Morgan Dollar FAQ
What is the melt value of a Morgan Dollar?
The melt value is 0.7734 troy ounces multiplied by the current silver spot price. Use the calculator on this page to see the exact value at today's price. The melt value changes as the silver market moves.
Are all Morgan Dollars silver?
Yes. Every Morgan Dollar minted from 1878 to 1904 and in 1921 is 90% silver. There are no clad or non-silver Morgan Dollars. The edge is reeded (ridged), not smooth like a clad coin.
Which Morgan Dollars are worth more than melt?
Key dates include the 1889-CC, 1893-S, and 1895 (proof-only). Carson City coins generally carry a premium. Any Morgan in uncirculated condition will be worth more than melt. Have rare dates appraised before selling.
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