Morgan Silver Dollar: The Ultimate Guide for Collectors in San Antonio

Morgan Silver Dollar coins represent a significant piece of American numismatic history, highly sought after by collectors worldwide, including those in San Antonio, Texas. These iconic coins, minted from 1878 to 1904 and again from 1921, feature the powerful profile of Lady Liberty and the majestic American eagle. Understanding the nuances of the Morgan silver dollar is crucial for any collector looking to build a valuable and meaningful collection. This guide delves into their history, key features, grading, and what makes them a compelling investment, especially for enthusiasts in the United States.

As of 2026, the market for Morgan silver dollars remains robust, driven by their intrinsic silver value, historical significance, and aesthetic appeal. For collectors in the United States, particularly in vibrant hubs like San Antonio, acquiring these coins offers a tangible connection to the nation’s past. We’ll explore the factors that influence their value, where to find them, and why Maiyam Group is a trusted partner for sourcing precious metals like silver.

What is the Morgan Silver Dollar?

The Morgan silver dollar is a United States dollar coin that was minted from 1878 to 1904, and then again in 1921. It was the first standard silver dollar denomination minted since the passage of the Coinage Act of 1873, which had ended the free coinage of silver and unofficially demonetized the previous Morgan-style silver dollar. The coin is named after its designer, George T. Morgan, an English engraver who was assistant engraver at the U.S. Mint. His design, featuring Lady Liberty in profile and an eagle on the reverse, quickly became one of the most beloved coin designs in American history.

Key Insight: The Morgan silver dollar’s design was revolutionary for its time, capturing a more realistic and powerful depiction of Liberty than previous coinage. This artistic merit significantly contributes to its enduring popularity among collectors across the United States.]

The coins are composed of 90% silver and 10% copper, giving them a significant intrinsic value based on the silver content. This duality of bullion value and collectible numismatic value makes the Morgan silver dollar a unique asset. Over its minting history, millions of these coins were produced in various mints across the United States, each with its own mint mark, contributing to the diversity and complexity of collecting them. Understanding these mint marks is a vital step for any serious collector looking to acquire these historical treasures.

History and Minting of the Morgan Silver Dollar

The Morgan silver dollar was introduced as a result of the Bland-Allison Act of 1878, which mandated the U.S. Treasury to purchase and coin a certain amount of silver each month. This act aimed to increase the amount of silver coinage in circulation and support the declining silver mining industry in the Western United States. George T. Morgan’s design was chosen from several submissions, and the coin was first minted in 1878. Its production continued with only minor modifications until 1904, when minting ceased due to a shortage of silver dollars being needed.

Did you know? The iconic profile of Lady Liberty on the Morgan silver dollar is based on Anna Williams, a Philadelphia schoolteacher, who served as Morgan’s model.]

After a hiatus, the Morgan silver dollar was minted again in 1921 as part of the Pittman Act, which called for the melting of millions of silver dollars and the coining of new ones. The 1921 mintage featured a slightly modified design, with a higher relief, making these coins distinct from their earlier counterparts. This period of renewed production cemented the Morgan dollar’s place in American numismatic history, ensuring its legacy would endure for generations of collectors, including those in San Antonio and across the nation.

1878-1904: Original production period, characterized by lower relief and varied mint marks (Philadelphia, Carson City, San Francisco, New Orleans).
1921: Resumption of minting with a higher relief, primarily at the Philadelphia, Denver, and San Francisco mints.
Post-1921: No new Morgan dollars were minted until special commemorative issues in the 21st century.

Key Features and Design Elements

The Morgan silver dollar is renowned for its intricate and appealing design. On the obverse, Lady Liberty is depicted in profile, facing left, wearing a Phrygian cap adorned with cotton blossoms and wheat stalks. Her hair flows freely, a departure from earlier, more constrained depictions. The motto “IN GOD WE TRUST” is prominently displayed above Liberty’s head. The reverse features a majestic bald eagle in flight, clutching arrows and an olive branch, symbolizing peace and readiness for defense.

Expert Tip: The fine details of the eagle’s feathers and the clarity of Liberty’s features are crucial indicators of a coin’s condition and potential value. Look for well-struck examples for your collection, especially when acquiring from reputable sources in cities like San Antonio.]

Obverse: Portrait of Lady Liberty, designed by George T. Morgan.
Reverse: American bald eagle, designed by George T. Morgan.
Edge: Reeded edge, a security feature common to U.S. silver dollars.
Composition: 90% silver, 10% copper.
Weight: 26.73 grams.
Diameter: 38.1 millimeters.

Understanding Morgan Silver Dollar Mint Marks and Dates

The mint mark on a Morgan silver dollar provides vital information about where the coin was produced and can significantly impact its rarity and value. The primary mints that produced Morgan dollars were Philadelphia (no mint mark), Carson City, Nevada (CC), San Francisco, California (S), and New Orleans, Louisiana (O). The Carson City mint, in particular, produced relatively fewer coins, making its mint-marked dollars highly sought after by collectors throughout the United States.

Why this matters: A Morgan dollar from the Carson City mint (CC) in the same condition as one from Philadelphia can be worth many times more due to its scarcity. Always check for the mint mark, usually located on the reverse below the wreath.]

The date of minting is also crucial. While common dates like 1878 and 1880 from Philadelphia can be found readily, rarer dates such as 1889-CC or 1893-S are exceptionally scarce and command premium prices. For collectors in San Antonio, understanding these variations is key to making informed purchasing decisions. Maiyam Group specializes in ethically sourced precious metals and can assist clients in identifying and acquiring historically significant coins.

Grading Morgan Silver Dollars

The condition of a Morgan silver dollar is paramount to its value. Professional grading services, such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Company), use a standardized 70-point scale to assess a coin’s condition. A coin graded MS-65 (Mint State 65) is considered a high-quality Mint State coin, while lower grades like AU (About Uncirculated) or XF (Extremely Fine) indicate wear. For collectors in San Antonio and the United States, understanding these grading standards is essential for evaluating a coin’s authenticity and market value.

Key Insight: A coin’s grade is determined by factors like the strike (how well the design was impressed), surface preservation (absence of scratches, dings, or toning), and overall eye appeal. Even a one-point difference in grade can lead to a substantial difference in price.]

Mint State (MS-60 to MS-70): Coins with no wear, varying degrees of luster, and minor imperfections.
About Uncirculated (AU-50 to AU-58): Coins with very slight wear on the highest points of the design.
Extremely Fine (XF-40 to XF-45): Coins with visible, but light, wear across the entire surface.
Fine (F-12 to F-15): Coins with moderate wear, though the main design elements are still clear.

Factors Affecting Morgan Silver Dollar Value

Several factors contribute to the value of a Morgan silver dollar. The most significant are the coin’s date and mint mark, which dictate its rarity. For example, the 1893-S Morgan dollar is one of the rarest and most valuable, with a mintage of only 100,000 coins. The coin’s grade is another critical factor; a high-grade Mint State coin will be worth significantly more than a heavily circulated piece. The condition of the silver market also plays a role, as the intrinsic melt value of the silver increases the floor price for these coins.

Did you know? The 1878 Morgan dollar has several varieties based on the number of tail feathers on the eagle on the reverse (7 Tail Feathers vs. 8 Tail Feathers). The 7TF variety is rarer and more valuable.]

Furthermore, collector demand and the coin’s aesthetic appeal, such as its toning or luster, can influence its price. Coins with attractive, natural toning or exceptional luster often command higher prices among collectors, especially in competitive markets like San Antonio. Maiyam Group understands these market dynamics and can help clients acquire valuable Morgan silver dollars.

Where to Buy Morgan Silver Dollars in San Antonio and Beyond

For collectors in San Antonio, finding authentic Morgan silver dollars involves visiting reputable coin dealers, attending coin shows, or exploring trusted online platforms. It’s essential to verify the authenticity and grading of any coin before purchase. Reputable dealers will offer certificates of authenticity or ensure their coins are certified by major grading services. Maiyam Group is a premier dealer in strategic minerals and commodities, including precious metals like silver, serving clients across the United States with ethical sourcing and quality assurance.

Expert Tip: When buying in person at coin shows in areas like San Antonio, feel free to ask questions about a coin’s history and provenance. Building a relationship with a trusted dealer is key to a rewarding collecting experience.]

Our company provides direct access to DR Congo’s premier mining operations, ensuring a consistent supply of high-quality precious metals. While we specialize in raw materials, our commitment to quality and ethical sourcing extends to our understanding of the broader precious metals market, including collectible coins like the Morgan silver dollar. We serve diverse industries, including those that appreciate the value of tangible assets like silver. For those looking to invest in the United States market, understanding local dealers and the broader landscape of coin collecting is beneficial.

Frequently Asked Questions About Morgan Silver Dollars

How much does a Morgan Silver Dollar cost in San Antonio, United States?

The cost of a Morgan silver dollar varies significantly based on its date, mint mark, condition, and rarity. Common circulated dates might range from $25 to $75, while rare mint marks or high-grade uncirculated coins can fetch hundreds or even thousands of dollars in San Antonio and across the United States. Always verify grading and provenance.

What is the rarest Morgan Silver Dollar?

The 1893-S Morgan silver dollar is widely considered one of the rarest and most valuable, with a very low mintage. Other rare examples include the 1889-CC and 1873-CC (which was actually an 1873 Seated Liberty Dollar, but sometimes confused in discussions of rare silver dollars). These rare coins are highly prized by numismatists worldwide.

Are Morgan Silver Dollars a good investment in 2026?

Morgan silver dollars can be a good investment, offering both intrinsic silver value and numismatic appreciation potential. Their popularity remains strong in 2026, especially among collectors in the United States. However, like any investment, their value can fluctuate with market conditions and collector demand. It’s wise to buy based on condition and rarity, not just potential appreciation.

What does the mint mark ‘CC’ on a Morgan Silver Dollar mean?

The ‘CC’ mint mark on a Morgan silver dollar indicates it was minted at the Carson City Mint in Nevada. This mint operated for a relatively short period and produced a limited number of coins compared to other U.S. mints, making ‘CC’ mint-marked Morgan dollars highly collectible and valuable to numismatists across the United States.

How can Maiyam Group help with precious metals?

Maiyam Group is a premier dealer in strategic minerals and commodities, including precious metals like silver. We specialize in ethical sourcing and quality assurance, offering direct access to mining operations. While we focus on raw materials, our expertise supports clients seeking tangible assets and valuable commodities for diverse industrial and investment purposes worldwide.

Conclusion: Your Collection Journey with Morgan Silver Dollars

The Morgan silver dollar remains an enduring icon in the world of numismatics, offering collectors in San Antonio, the United States, and beyond a tangible link to American history and the allure of silver. With its captivating design, historical significance, and diverse range of rarities, the Morgan dollar continues to be a cornerstone for both new and seasoned collectors. Understanding the mint marks, dates, grading standards, and market dynamics is essential for building a valuable and satisfying collection. As of 2026, the interest in these coins shows no sign of waning.

Final Recommendation: For those seeking to add these historic coins to their portfolio, partnering with trusted dealers and thoroughly researching each piece is crucial. Consider the intrinsic silver value alongside the numismatic rarity and condition. For sourcing raw precious metals and understanding commodity markets, Maiyam Group offers unparalleled expertise and ethical practices.]

Key Takeaways:

Historical Significance: Morgan dollars connect us to a pivotal era in U.S. history.
Rarity and Value: Date, mint mark, and condition are primary value drivers.
Numismatic Appeal: Attractive design and intrinsic silver content drive demand.
Market Insight: Research and trusted dealers are key for informed acquisitions.