A century after the first Morgan dollar was minted, most experts still consider the entire series the most famous American coinage. The reasons are the beautiful design and the fact it was the first silver coin the US mint produced.
You can effortlessly determine the 1893 Morgan silver dollar value based on its condition and the mint mark. The problem is their rarity and high prices on the coin market. Therefore, every piece will be expensive, and only dedicated collectors with an unlimited budget can afford this beautiful piece.
1893 Morgan Silver Dollar History
The US Mint struck Morgan (Liberty Head) dollars from 1878 to 1904, based on George Morgan‘s design. Most Americans connect it with the Old West and old movies and appreciate the coin’s historical value.
1893 Morgan silver dollar |
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| Location | Year | Minted |
| Philadelphia | 1893 | 378,000 |
| Philadelphia | 1893 proof | 792 |
| San Francisco | 1893 S | 100,000 |
| Carson City | 1893 CC | 677,000 |
| New Orleans | 1893 O | 300,000 |
| Total | / | 1,455,792 |
The primary reason for 1893 Morgan dollars’ rarity, particularly those with the S mint mark, was the Panic of 1893. That year, the bank system crashed, and Morgan’s mintage was exceptionally low. Plus, many of these silver coins likely melted under the 1918 Pittman Act.
1893 Morgan silver dollar |
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| Face value | $1 |
| Compound | 90% silver – 10% copper |
| Silver weight | 0.77344 troy ounces (24.06) |
| Coin weight | 0.85939 troy ounces (26.73 g) |
| Coin diameter | 1.5 inches (38.1 mm) |
| Coin thickness | 0.09449 inches (2.4 mm) |
| Edge | Reeded |
| Shape | Round |
Nowadays, you can find 96 combinations with different dates and mint marks in the Morgan dollar series.
They all show beautiful Lady Liberty surrounded by stars on the obverse with a Phrygian cap on her head. An American bald eagle holding arrows and a branch in claws is placed on the reverse.
1893 Morgan Silver Dollar Types
1893 Morgan silver dollar
The Philadelphia mint produced a modest 378,000 Morgan silver dollars in 1893, making it scarce in any grade. You should pay $165 to $1,125 for a used piece in most cases.
1893 Morgan silver dollar value* |
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| Quality | 1893 | 1893 S | 1893 CC | 1893 O |
| Good | $213 | $4,089 | $591 | $293 |
| Very good | $235 | $4,514 | $630 | $322 |
| Fine | $253 | $5,134 | $639 | $350 |
| Very fine | $264 | $5,850 | $697 | $379 |
| Extra fine | $322 | $10,118 | $1,720 | $541 |
| AU | $462 | $22,443 | $2,653 | $886 |
| MS 60 | $823 | 4134,451 | $5,714 | $3.299 |
| MS 65 | $9,678 | $662,422 | $79,346 | $219,451 |
| Proof 63 | $3,241 | / | / | / |
(USA Coin book)
Coins in the mint grade can reach even $50,000 to $62,500. The auction record holds the 1893 MS66 Morgan silver dollar paid $44,650 in 2015.
1893 proof Morgan silver dollar
Besides regular pieces, the Philadelphia mint struck 792 proof Morgan silver dollars in 1893. Their prices vary from $1,000 to $35,000, depending on the preservation level.
1893 proof Morgan silver dollar value* |
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| Quality | 1893 | 1893 CAM | 1893 DCAM |
| PR 50 | $1,000 to $1,150 | / | / |
| PR 53 | $1,100 to $1,265 | / | / |
| PR 55 | $1,250 to $1,438 | / | / |
| PR 58 | $1,550 to $1,783 | / | / |
| PR 60 | $2,500 to $2,875 | $2,750 to $3,163 | $2,600 to $2,990 |
| PR 61 | $2,750 to $3,163 | $3,025 to $3,479 | $2,900 to $3,325 |
| MS 62 | $3,000 to $3,450 | $3,300 to $3,795 | $3,300 to $3,795 |
| PR 63 | $3,750 to $4,313 | $4,125 to $4,744 | $4,300 to $4,945 |
| PR 64 | $4,250 to $4,888 | $4,875 to $5,576 | $6,750 to $7,763 |
| PR 65 | $5,400 to $6,210 | $6,250 to $7,142 | $9,000 to $19,350 |
| PR 66 | $8,000 to $9,500 | $9,500 to $11,000 | / |
| PR 67 | $12,000 to $16,000 | $15,000 to $18,000 | / |
| PR 68 | $30,000 to $35,000 | $35,000 to $40,250 | / |
(Greysheet)
The 1893 PR 68 CAM coin’s estimated value can go up to $40,250. On the other hand, the best graded 1893 PR 65 DCAM coin can cost almost $20,000. The auction record won the 1893 PR 67+ Morgan dollar in 2015, paid $70,500.
1893 S Morgan silver dollar
The lowest Morgan silver dollar mintage in 1893 came from San Francisco, with only 100,000 struck pieces. As a result, even coins with low ratings reach an enormous $2,100 to $84,000 on the coin market.
1893 Morgan silver dollar value* |
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| Quality | 1893 | 1893 S |
| Good | $165 to $210 | $2,100 to $2,760 |
| Very good | $200 to $240 | $2,800 to $3,840 |
| Fine | $250 to $316.25 | $3,900 to $5,040 |
| Very fine | $300 to $400 | $4,800 to $7,920 |
| Extra fine | $465 to $575 | $9,200 to $12,650 |
| AU | $700 to $1,125 | $22,000 to $84,000 |
| MS 60 | $1,550 to $1,650 | $185,000 to $222,000 |
| MS 61 | $1,595 to $1,695 | $215,000 to $258,000 |
| MS 62 | $1,750 to $1,850 | $245,000 to $320,000 |
| MS 63 | $2,200 to $2,350 | $310,000 to $375,000 |
| MS 64 | $2,250 to $3,000 | $400,000 to $460,000 |
| MS 65 | $4,650 to $5,500 | $600,000 to $690,000 |
| MS 66 | $50,000 to $62,500 | $850,000 to $977,500 |
| MS 67 | / | $1,850,000 to $2,035,000 |
(Greysheet)
Collectors are prepared to pay at least $185,000 for super rare specimens in the mint state. The pricey 1893 S MS 67 Morgan dollar won the series record of $2,086,875 at auction.
1893 CC Morgan silver dollar
A relatively high number of 677,000 Morgan dollars were minted in Carson City in 1893. You should set aside approximately $275 to $4,400 for a piece with a low rating. According to professional estimations, coins in the MS 66 can cost $145,000 to $185,000.
1893 Morgan silver dollar value* |
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| Quality | 1893 CC | 1893 O |
| Good | $275 to $339.25 | $185 to $230 |
| Very good | $350 to $488.25 | $250 to $316.25 |
| Fine | $500 to $661.25 | $300 to $402.50 |
| Very fine | $1,020 to $1,466 | $400 to $690 |
| Extra fine | $2,300 to $2,990 | $700 to $920 |
| AU | $3,200 to $4,370 | $1,100 to $2,875 |
| MS 60 | $5,250 to $5,775 | $4,500 to $4,888 |
| MS 61 | $5,450 to $5,995 | $4,500 to $5,175 |
| MS 62 | $6,000 | $5,500 to $6,325 |
| MS 63 | $8,000 to $8,800 | $7,500 to $8,625 |
| MS 64 | $15,000 to $18,000 | $15,000 to $17,250 |
| MS 65 | $68,000 to $110,000 | $165,000 to $189,750 |
| MS 66 | $145,000 to $185,000 | $220,000 to $264,000 |
| MS 67 | / | / |
(Greysheet)
The most costly 1893 CC MS 66 Morgan silver dollar won an auction record in 2013 when the collector paid $161,000 for it.
1893 O Morgan silver dollar
Precisely 300,000 Morgan dollars came from the New Orleans mint in 1893. Be prepared to pay $200 to almost $3,000 for a circulated coin.
Those in the mint state will cost at least $264,000. An auction record won the 1893 O MS 66 Morgan silver dollar that was paid an astonishing $458,250 in 2015.
1893 Morgan Silver Dollar Variations
Collectors highly appreciate proof-like 1893 Morgan dollars with a mirrored surface resembling the proof coin. Their value ranges from $27,500 to $121,000, depending on the mint mark and condition.
1893 PL Morgan silver dollar value* |
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| Quality | 1893 PL S | 1893 PL CC | 1893 PL O |
| AU 50 | $27,500 | / | / |
| AU 58 | $87,500 | / | / |
| MS 60 | / | / | / |
| MS 61 | / | / | / |
| MS 62 | $306,000 | / | / |
| MS 63 | / | $11,000 to $12,650 | $8.800 to $10,120 |
| MS 64 | / | $30,000 to $36,000 | / |
| MS 65 | / | $95,000 to $121,000 | / |
(Greysheet)
The 1893 Morgan dollar with an appealing deep mirror proof-like surface is every collector’s dream. Such a coin has a highly reflective surface like ultimate proofs.
1893 DMPL Morgan silver dollar value* |
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| Quality | 1893 DMPL | 1893 DMPL CC | 1893 DMPL O |
| MS 61 | $15,000 | $10,000 to $12,000 | $12,000 |
| MS 62 | $22,000 | $13,500 to $15,500 | $16,000 |
| MS 63 | / | $24,000 to $28,000 | $30,000 to $38,000 |
| MS 64 | / | $40,000 to $50,000 | $80,000 to $95,000 |
| MS 65 | / | $109,250 to $139,150 | $250,000 to $360,000 |
(Greysheet)
Be aware that it is impossible to find such a coin under $10,000. On the other hand, some top-notch specimens minted in New Orleans can reach $360,000.
1893 Morgan Silver Dollar Grading
Uncirculated – This 1893 Morgan dollar never circulated for commerce purposes, so there are no traces of wear on its surface. Original luster and texture are preserved on both sides, while the eagle’s breast feathers on the reverse are intact.
1893 Morgan silver dollar value* |
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| Year | Extra fine quality | Uncirculated |
| 1893 | $275 | $400 |
| 1893 S | $9,000 | $20,000 |
| 1893 CC | $1,500 | $2,400 |
| 1893 O | $475 | $775 |
(JM Bullion)
Extra fine – This coin is in almost pristine condition, but the inspection with a magnifying glass will show slight imperfections. You can’t see mint luster anymore, but there is a light surface scratching and barely noticeable flattening of Liberty’s face.
Fine – This coin spent a long time in use, and the first signs of wear are visible on once well-defined Lady Liberty’s face. The leaves above her ear and surrounding cotton blossoms are smooth and without delicate details.
1893 Morgan silver dollar value* |
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| Year | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1893 | $139 | $153 | $253 | $1,022 |
| 1893 S | $1,748 | $2,732 | $6,844 | Rare |
| 1893 CC | $207 | $295 | $1,440 | $3,481 |
| 1893 O | $147 | $215 | $429 | $3,139 |
(CoinStudy)
Good – It is the worst grade you can find when looking for collectible coins. Its surface is smoothed, and the highest image points are only an outline. Besides scratching and possible bending, you can notice merged letters in inscriptions and the barely visible date.
Summary
Every collector would like to see the 1893 Morgan silver dollar in their collection. However, only the rare lucky ones have the privilege to find this scarce specimen and have a budget high enough to buy it. Be prepared that such a coin will be pricey regardless of condition.
