How Much is a 1893 Morgan Silver Dollar Worth? (Price Chart)

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

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

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

1893 Morgan silver dollar
Image

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*

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

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*

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

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*

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

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*

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

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

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*

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*

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

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*

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*

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.

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