Coins are more than just forms of money – they have the history of a place, time, and era minted into each one.
If you ever come across an antique coin, you may be wondering what it’s worth. It could be a valuable collector’s item, or it could be worth nothing more than its face value. Either way, it’s worth taking the time to research the coin and find out its true worth.
If you’re a collector of historical items or simply curious about the 1892 Silver Dollar and its value, you’ve come to the right spot. We’ll explore the history of the Morgan Silver Dollar, from its special varieties and nuances to its details, errors, and oddities.
Details of the 1892 Silver Dollar
- Mint: Carson City, San Francisco, Philadelphia, New Orleans
- Category: Morgan Silvers Dollar (1878-1921)
- Mintage: 1,036,000
- Reverse Designer: George T. Morgan
- Obverse Designer: George T. Morgan
- ASW: 0.7734oz
- Composition Silver: 90% pure silver, and 10% copper
- Weight: 26.73 g
- Fineness: 0.9
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1892 Silver Dollar Penny Value
| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
| 1892 | $26.02 | $27.52 | $35.57 | $371 |
| 1892 CC | $131 | $235 | $493 | $1,365 |
| 1892 O | $21.25 | $26.02 | $30.98 | $368 |
| 1892 S | $24.71 | $30.98 | $414 | Rare |
1892 Silver Dollar Varieties and Value Guide
The 1892 silver dollar comes in a few kinds of mints. Let’s take a look through them all:
1892 No Mint Mark Silver Dollar Value
- Designer: George T. Morgan
- Mint Mark: No mint mark (Philadelphia)
- Edge: Reeded
- Minting Year: 1892
- Quantity Produced: 1,036,000
- Face Value: $1
- Minting Place: Philadelphia
- Price in $:$50,000 (MS-65)
- Type: Morgan Dollar
While this coin was minted in Philadelphia, it does not carry a P sign like the other variants – the CC and O versions – have on theirs. Instead, the reverse side features the mint mark a little bit below the wreath engraved into the coin.
This silver dollar can fetch you up to $45 dollars if it is in stellar condition. The coin has a melt value of $21.26.
1892 O Silver Dollar Value
- Designer: George T. Morgan
- Edge: Reeded
- Price in $:$111,625 (MS67)
- Face Value:$1
- Type: Morgan Dollar
- Mint Mark: An “O”
- Minting Place: New Orleans
- Minting Year: 1892
- Quantity Produced:2,744,00
Of the four mints, this one was remarkable for its flat shape and fragile edges. Collectors now will struggle to find one in good condition with its luster preserved.
The front of the coin depicts the side profile of Lady Liberty with the engraving “E Pluribus Unum,” which is a Latin phrase. The date of the year is also carved into the bottom of the coin, opposite from the Latin.
On the reverse of this coin, you will find an engraving that says “In God We Trust” along with the “United States of America” and “One Dollar.” It features a bird clutching a bundle of wooden arrows placed in a wreath, a show of strength and freedom.
You will find a lot of low-grade O Morgan Dollars in circulation, and it may take some sifting and searching, but a good-quality coin is not completely unrealistic to search for – you can get a good cut out of it too.
1892 S Silver Dollar Value
- Designer: George T. Morgan
- Edge: Reeded
- Price in $:$348-5,846 (or higher depending on quality)
- Face Value: $1
- Type: Morgan Dollar
- Mint Mark: An “S”.
- Minting Place: San Francisco
- Minting Year: 1892
- Quantity Produced: 1,200,000
It is estimated by the PCG that around 120,000 of these S Morgan coins in various grades still survive to this day, but only 64 of those are MS65 or above in quality.
With timeless luster and a superior strike, this coin beats out its other counterparts in terms of value by a notch or two.
While the artwork minted into the coin is the same as the other versions, this one has a distinct silver coloring to it, along with a lustrous sheen.
1892 CC Silver Dollar Value
- Designer: George T. Morgan
- Edge: Reeded
- Face Value: $1
- Mint Mark: A “CC.”
- Type: Morgan Dollar
- Quantity Produced: 1,352,000
- Price in $:$279-10,116 (or higher depending on quality)
- Minting Place: Carson City
- Minting Year: 1892
This mint actually closed down and a lot of CC dollars went to storage in the San Francisco mint, as well as Washington, D.C Treasury Building. A few bags were paid out from 1925-1926 and in the ’40s and ’50s.
Suddenly, 50 bags of CC dealers were released from the Treasury in 1955. This was the single biggest release of CC dollars, and many of the finest ones are still pieces circulating from that release.
Its appearance is the same as its other counterparts, with a CC mint mark to signify its origin. In today’s time, it is a coin that is hard to own.
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1892 Silver Dollar History
Coming off of a steep decline in mintage, the 1892 dollar was served in four mints, and despite its coveted stature in the coin-collecting community, rarity, and value – this one had a troubled run.
Proof-mint Philadelphia coins saw a rise in production due to new Barber designs for the half dollar and dime.
The obverse design of this coin depicts Lady Liberty, with a Latin engraving that reads “E PLURIBUS UNUM.” The reverse design holds an engraving in English – “In God We Trust” as well as the inscription “The United States of America.”
A depiction of the American Bald Eagle clutching arrows is also engraved into the reverse.
At the time, these coins were a convenient way of exchanging large amounts of money in a simple and accessible way. While collectors attached value to them over the years that originally was not there, the new designs featuring the Lady Liberty obverse improved public opinion of them.
At some point, the Carson City mine shut down. This was when large amounts of CC dollars went to the San Francisco mint and the Washington Treasury Building.
From 1925-1926, some of these coins were paid out all the way up until 1953. In 1955, however, 50 entire bags of CC dollars were released by the Treasury from the Treasury Building. Eventually, in 1964, the government decided to discontinue paying out Morgan dollars.
Meanwhile, the S-Dollar variant is common if you look towards worn and run-down coins; however, it is extremely hard to find at the MS-65 rank. The most accepted reason for their sharp increase in value is that a lot of them were put into circulation near the time of issue.
This meant that very few could be saved in mint state, making them a rare find for people who want a full set.
Funnily enough, this same coin, which could now fetch $50,000 at auctions, did not hold any value back in the day. You could find an uncirculated S-Morgan floating around an auction for around $1.50.
When it was realized that among the bags dispersed from the storage in 1940 and 1950, none contained an S-morgan from 1892. This is when they began to shoot up in popularity.
This also led to a lot of firms selling AU’’s like the 1892-S to people that did not know a lot about coins, as other lower-grade coins also rose in value due to the elevated stature of the mint states.
They would even tone the coin on both sides to mask any abrasions, wear and tear, or carbon spotting – even discoloration! By the way, these are all things you should look out for too when buying any rare coin.
Still, its rarity in mint-state retains its incredible price tag even now – these coins are only getting harder and harder to find.
Today, the 1892 Morgan Dollar continues to be evermore elusive, with proof-likes and DMPL variants becoming rarer and rarer.
The coins have become exceedingly valuable; only PCG gradings are trusted when dealing with uncirculated coins MS60 or higher, as they can be worth tens if not hundreds of thousands of dollars
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1892 Silver Dollar Grading
You may have seen terms like MS65, MS64, and MS61 pop up constantly. These refer to the coin grading scale – specifically, the Sheldon Scale, which ranges from 1-70. The MS stands for Mint State, and the closer a coin is to 70, the more perfect it is believed to be.
Circulated coins are only graded from 1-59. 60 and above is for rare, uncirculated mint state versions; these are the most valuable antiques to collect.
1892 Silver Dollar Errors
1. PL Morgan Dollars
These proof-like strike coins are noted for their reflective surface, which is the result of using polished dies in the minting process.
You can expect quite a price for these – even the Philadelphia ones can run you $1,100 to $8,000 or a bit more. The Carson City and New Orleans versions take the prices even higher.
In the MS 63 Grade, the San Francisco mint will get you $125,000 to $185,000. Such is its rarity, and an MS64 or MS67 is close to double that amount. There are not many of these still left, and even fewer in uncirculated or MS63+ condition, so be sure to keep your eyes peeled at any auctions.
2. DMPL Morgan Dollars
These take the shiny novelty of a reflective surface and amp it up threefold; known for their deep mirror-proof-like surface, these coins were one of the most prized possessions back when they were first minted.
They are also beloved for their frosted devices and flat surfaces; these coins resemble proof coins heavily, so they have long been a point of interest for many.
The top tier 1892 S DMPL MS61 will cost you at least a fair $120,000, if not more. Starting from Philadelphia, we have $20,000. CC: $66,000. O: $54,000.
These are truly collector’s items, so if you expect to bid your way into owning one, expect fierce competition.
3. VAM Dollars
Named after the initials of famous authors Leroy Van Allen and George Mallis and regarded for their book about Morgan silver dollar dies, these coins are not technically an error but are a variation that collectors have been known to add to their shelves.
You will find two versions of this coin: An 1892 O version with a Doubled Ear known as the VAM 7 and an 1892 S version known as the Vam 2. The S version will fetch you a nicer price, although be sure the mint mark is not very worn!
1892 Silver Dollar FAQs
Are you a bit confused about some aspects of these silver dollars? What makes them so rare? What differentiates one version from another? You would not be the only one – we have compiled frequent questions new collectors may have, along with answers!
What Is the Rarest Morgan Dollar?
That would be the 1893 S Morgan Silver. Minted due to the California Gold Rush, even in medium condition, this coin can fetch you up to $3,000. At a Stacks auction, an 1893 S Morgan once sold for $414,000.
What Are Coining Errors?
Coining errors are when the die strikes off-center or is misaligned, leading to missing or altered detail in some of the coins minted. These become rare antiques over the years, but their value differs based on the severity of the error.
Broadstrikes and partial collars are the most common types – with brockages being a bit rarer. If there is an error due to two dyes not working properly, it gives the coin a bit more value.
Who’s Gradings Are Viable?
Generally, the PCG gradings are what most people in coin-collecting communities tend to follow. For anything that is in MS with a high rating, like 65 onwards, PCG gradings are as good as the law.
How Do I Know I’m Getting a Fair Price?
If you are trying to sell a coin in your collection, then make sure you get it appraised so you can know the market value. It is very important to do this with older coins as their actual condition is hard to tell due to the significant amount of time that has passed.
Some buyers will take advantage of this and bump your coin down a few points on the 1-70 Sheldon Scale to get a more affordable price on an otherwise vintage piece. Always get a second opinion first!
Are the Coins Made of Pure Silver?
All of the Morgan Silver Dollars are up to 90% pure silver, yes. As such, they are a common target of thieves.