All Morgan silver dollars are highly interesting to collectors nowadays. The 1891 Morgan silver dollar value can significantly vary in the current market. However, these coins are among the cheapest since four mints produced 23,562,735 of them this year. You only need to set aside more money for relatively rare 1891 CC pieces.
1891 Morgan Silver Dollars
Morgan silver dollars’ composition is 90% silver and 10% copper. Their weight is 0.8594 troy ounces (26.73 g), while the weight of silver they contain is precisely 0.77344 troy ounces (24 g).
George T. Morgan designed this 0.09 inches (2.4 mm) thick coin with 1.5 inches (38.1 mm) in diameter. Although this engraver created seven different coin types, the Morgan silver dollar is considered his most successful design.
You can see the elegant Lady Liberty on the coin obverse, made after teacher Anna Williams’ profile. Precisely 13 stars surround the Lady Liberty profile, each representing one of the original colonies.
On the upper obverse’s edge is the phrase E PLURIBUS UNUM, while on the lower is written the year of minting. In this case, it is 1891.
On the reverse is an American bald eagle with seven feathers in the tail. It holds an olive branch in one and an arrow in the other claw. You can also notice two half-wreaths around the eagle’s head.
On the coin’s upper edge is the inscription UNITED STATES OF AMERICA, while at the bottom is ONE DOLLAR. As always, there is the phrase IN GOD WE TRUST above the eagle’s head.
1891 Morgan silver dollar |
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| Location | Year | Minted | Value |
| Philadelphia | 1891 | 8,693,556 | $35 |
| Philadelphia | 1891 proof | 650 | $3,000 |
| San Francisco | 1891 S | 5,296,000 | $35 |
| New Orleans | 1891 O | 7,954,529 | $35 |
| Carson City | 1891 CC | 1,618,000 | $200 |
| Total | 1891 | 23,562,735 | / |
On each coin is a mark showing the mint that produced it except on these minted in Philadelphia. Four mints made 23,562,735 Morgan silver dollars in 1891:
- Philadelphia without a mint mark
- San Francisco, with an S mint mark
- New Orleans, with an O mint mark
- Carson City, with a CC mint mark
1891 Morgan Silver Dollar Grading
It is always a wise idea to have your 1981 Morgan silver dollar graded before trading. The coin appearance, relief preservation, and luster level have a decisive influence on its rating.
Uncirculated 1891 Morgan silver dollar
This rating means that your coin has never been in circulation. It still has its original luster, but you can sometimes notice tracks without shine on the surface, especially on Lady Liberty’s cheek. Such coins have high texture preservation, especially the relief details, making them highly desirable for collectors.
- MS 65 gem uncirculated – This coin has a strong luster, but you can notice a few bright, barely noticeable contact traces.
- MS 60 uncirculated – There is no significant wear sign on this coin. Although the coin has a luster, it can have a few scratches or stains on the surface.
Extra fine 1891 Morgan silver dollar
The 1891 Morgan silver dollar with barely noticeable signs of wear and tear will be rated extremely fine. On these coins, you can notice a slight straightening of Lady Liberty’s hair above her forehead and behind her neck.
You can also notice a loss of roundness on the cap flap. Besides slight scratches on the surface, the ear line always remains intact.
Very fine 1881 Morgan silver dollar
When the coin is very fine, it means that the relief shows more than two-thirds of the lines of Lady Liberty’s hair in the area from forehead to ear.
Fine 1881 Morgan silver dollar
1891 Morgan silver dollar with a fine rating is a coin that was in circulation for a long time. There are visible signs of hand-to-hand transition on its surface, although there are no significant signs of damage.
You can probably notice light scratches, moderate smoothing of the surface, and a slight lack of shine. However, the hair curls lines and the hat shape are still recognizable.
Good 1891 Morgan silver dollar
A coin with noticeable wear signs deserves only a good rating since such a piece circulated for a long time. On the coin’s surface, you will be able to notice the relief remains primarily the outlines of Lady Liberty’s hair curls. If your dollar is in this condition, its price is more related to the current silver cost than its collectible value.
1891 Morgan Silver Dollar Types
To properly assess the 1891 Morgan Silver dollar value, you need to know what coin type you have in front of you.
1891 Morgan silver dollar without a mint mark
The Philadelphia mint produced 8,693,000 Morgan silver dollars in 1891, well above the average. That is the reason why this coin is relatively inexpensive nowadays.
1891 Morgan silver dollar value by USA Coin book |
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| Quality | 1891 | 1891 O | 1891 S | 1891 CC |
| Good | $30 | $30 | $30 | $82 |
| Very good | $33 to $35 | $33 to $35 | $33 to $35 | $98 |
| Fine | $40 | $38 | $40 | $115 |
| Very fine | $45 | $45 | $45 | $124 |
| Extra fine | $47 | $47 | $47 | $162 |
| About uncirculated | $55 | $564 | $54 | $218 |
| MS 60 | $86 | $228 | $82 | $501 |
| MS 65 | $8,919 | $8,311 | $1,728 | $5,575 |
| Proof 63 | $3,143 | / | / | / |
You can buy a coin that is in good condition for $28, while an uncirculated piece with an MS 60 rating costs a bit more. The auction record from 2008 for this coin is $38,000.
The good news is that you can sell even the coin in poor condition for silver. Unfortunately, a dealer will determine its value based on the weight in silver in this case. For example, the current melting value for this coin is $17.59, depending on the silver spot price that is $22.74 per ounce in October 2021.
1891 proof Morgan silver dollar
Only 650 proof Morgan silver dollars were minted in the Philadelphia mint this year. This quantity is among the lowest mintages when it comes to the Morgan proof series. You should pay approximately $1,000 and $3,000 for this coin, depending on its condition.
1891 Morgan silver dollar value by Gainesville coins |
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| Quality | 1891 | 1891 O | 1891 S | 1891 CC |
| Very fine | $36 | $36 | $36 | $135 |
| Extra fine | $38 | $38 | $46 | $228 |
| About uncirculated | $53 | $65 | $53 | $358 |
| Mint state 61 | $101 | $273 | $143 | $644 |
| Mint state 63 | $162 | $468 | $221 | $904 |
| Mint state 65 | $2,120 | $4,500 | $998 | $2,560 |
| Auction record | $38,000 (MS 65+) | $108,687 (MS 66) | $31,725 (MS 67) | $199,750 (MS 66+) |
1891 S Morgan silver dollar
The San Francisco mint produced 5,296,000 Morgan silver dollars in 1891. Most of these coins were kept in a vault and put into circulation in the early 1940s. For these reasons, you can find numerous inexpensive coins in extra fine and uncirculated conditions on the current market.
1891 Morgan silver dollar value by JM Bullion |
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| Coin | Quality | |
| Extra fine | Uncirculated | |
| 1891 Morgan dollar | $35 to $40 | $45 |
| 1891 S Morgan dollar | $35 to $40 | $45 |
| 1891 O Morgan dollar | $35 to $40 | $55 |
| 1891 CC Morgan dollar | $140 | $190 |
Nowadays, you can buy 1891 S Morgan silver dollar for $35 if it is in very fine condition. An uncirculated coin with an MS 60 rating costs more, and it can be yours for up to $110. The auction record for this coin in MS 67 grade is $31,725.
1891 O Morgan silver dollar
The New Orleans mint failed with a silver Morgan dollar production in 1891. These coins’ quality was the worst that particular year compared to other mints. Almost all pieces have flaws, and some are with a flat center. Sharply struck coins are rare, but it is possible to find them after a long search.
1891 Morgan silver dollar value by CoinStudy |
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| Coin | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1891 Morgan dollar | $21.5 | $25 | $28 | $57 |
| 1891 S Morgan dollar | $21.5 | $25 | $28 | $62 |
| 1891 O Morgan dollar | $21.5 | $25 | $28 | $144 |
| 1891 CC Morgan dollar | $66 | $90 | $136 | $415 |
You can find this coin in extra fine condition for about $30 to $40. If you want to sell your uncirculated 1891 O Morgan silver dollar with an MS 65 rating, you can expect to get up to $4,500 for it. However, that is not even close to the auction record of $108,687.50 from March 2019.
1891 CC Morgan silver dollar
The mint in Carson City made 1,618,000 Morgan silver dollars in 1891. These coins had sharp strikes, a pronounced relief on the surface, and a radiant luster.
Their value in the collector’s market is higher than the price of coins produced in other mints. You can probably find one in extra fine condition for about $130.
On the other side, you need to set aside over $2,500 for an uncirculated coin with an MS 65 rating. This coin type has the highest auction record since one piece was sold for $199,750 in June 2015.
Summary
The four mints produced over 23,000,000 silver Morgan dollars in 1891, but only a few of these coins are available today in excellent condition. The value of your 1891 Morgan silver dollar collection will depend on each coin’s preservation, grade, and the mint it comes from.
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