How Much is a 1898 Morgan Silver Dollar Worth? (Price Chart)

The 1898 Morgan silver dollar (Liberty head dollar) is a popular coin, like all other 96 different date-and-mintmark varieties in the series. Most Americans think of these coins as the Old West historical symbol, making them highly collectible.

Like other coins minted in the US Mint, the 1898 Morgan silver dollar value depends on its condition and the mint mark. Since it is a pretty common piece on the current coin market, you can buy most of them for a relatively affordable price.

 

1898 Morgan Silver Dollar History

Engraver George T. Morgan created the most famous and collected American silver dollar in 1978. Until 1904, five mints produced these coins so that you can find different mint marks on the reverse, including:

  • O on the reverse of dollars minted in New Orleans
  • S on the reverse of dollars minted in San Francisco
  • CC on the reverse of dollars minted in Carson City

1898 Morgan silver dollar

Location Year Minted Price
Philadelphia 1898 5,884,000 $35+
Philadelphia 1898 proof 735 $3,000+
San Francisco 1898 S 4,102,000 $45+
New Orleans 1898 O 4,440,000 $35+
Total / 14,426,735 /

As always, pieces struck in Philadelphia don’t have any mint mark. Since Denver only minted these coins in 1921, you can find the D mint mark only on coins produced that particular year.

1898 Morgan silver dollar

Face value $1
Compound Silver (90%) with copper (10%)
Coin weight 0.85939 troy ounces (26.73 g)
Silver weight 0.77344 troy ounces (24 g)
Coin diameter 1.5 inches (38.1 mm)
Coin thickness 0.09449 inches (2.4 mm)
Edge Reeded
Shape Round

You can see Lady Liberty surrounded by thirteen stars, the date, and inscription E PLURIBUS UNUM on the obverse. An American eagle with spread wings is on the reverse, along with the denomination, state name, and motto IN GOD WE TRUST.

 

1898 Morgan Silver Dollar Types

Three mints produced 14,426,735 Morgan silver dollars in 1898, including Philadelphia, New Orleans, and San Francisco.

The silver content makes these coins valuable even in the worst condition. Plus, these beloved dollars with historical significance and beautiful design are favorite options for many collectors.

1898 Morgan silver dollar value*

Quality 1898 1898 S 1898 O
Good $27 $32 $27
Very good $33 $37 $33
Fine $39 $44 $39
Very fine $45 $48 $45
Extra fine $48 $60 $48
AU $51 $118 $51
MS 60 $60 $320 $60
MS 65 $291 $2,530 $204
PR 65 $3,221 / /

*by USA Coin book

1898 Morgan silver dollar

1898 Morgan silver dollar
Image

Thanks to silver content, any of 5,884,000 Morgan silver dollars minted in Philadelphia in 1898 is worth something. Each coin’s value will depend on the current silver price, survival rate, and condition.

 1898 Morgan silver dollar value*

Year Quality
Good Fine Extra fine Uncirculated
1898 $21.2 $21.2 $23.5 $43
1898 S $23.5 $27.4 $35.43 $376
1898 O $21.2 $21.2 $23.5 $43

*by CoinStudy

Most pieces will be worth at least $25, but the one in mint condition can reach $300. The most expensive MS 67 Morgan minted that year was paid $17,250 at auction.

1898 proof Morgan silver dollar

1898 proof Morgan silver dollar

The Philadelphia mint produced 735 Morgan silver dollar proofs in 1898. Their value is approximately $1,000, but highly preserved pieces can be worth $12,000 to $17,000.

1898 proof Morgan silver dollar value*

Quality 1898 1898 CAM 1898 DCAM
PR 50 $1,020 to $1,150 / /
PR 53 $1,090 to $1,220 / /
PR 55 $1,250 to $1,380 / /
PR 58 $1,620 to $1,810 / /
PR 60 $2,250 to $2,440 / /
PR 61 $2,750 to $3,000 $3,020 to $3,300 /
PR 62 $3,060 to $3,310 $3,300 to $3,640 /
PR 63 $4,120 to $4,440 $4,540 to $4,880 $5,000 to $5,750
PR 64 $4,750 to $5,190 $5,120 to $6,120 $8,440 to $9,700
PR 65 $6,000 to $7,090 $7,810 to $8,980 $11,200 to $12,400
PR 66 $9,380 to $12,000 $10,300 to $13,200 $16,200 to $18,600
PR 67 $12,000 to $16,800 $13,200 to $18,500 $24,000 to $31,800
PR 68 / / $48,000 to $60,000

*by Greysheet

1898 S Morgan silver dollar

1898 S Morgan silver dollar

The 1898 S Morgan silver dollar value depends on its condition and current silver price. However, the crucial things in this case are relatively low mintage and survival rate.

1898 Morgan silver dollar value*

Year Extra fine quality Mint state
1898 $39 $41
1898 S $50 $41
1898 O $39 $100

*by JM Bullion

A coin in low grades is typically worth about $30, but those in the mint state are pricey and cost at least $300 to $700. The MS 65 piece estimated value is $2,500, while one MS 68 coin holds the auction record of $117,500.

1898 O Morgan silver dollar

1898 O Morgan silver dollar

The New Orleans mint struck 4,440,000 Morgan silver dollars in 1898, and you can recognize them thanks to the S mint mark on the reverse below the wreath.

1898 Morgan silver dollar value*

Quality 1898 1898 S 1898 O
Good $40.5 to $52 $40.5 to $52 $40.5 to $52
Very good $45.9 to $57 $45.9 to $57 $45.9 to $57
Fine $48.6 to $58 $48.6 to $58 $48.6 to $58
Very fine $49.3 to $59 $55 to $71 $49.28 to $59
Extra fine $51 to $61 $81 to $113 $51 to $61
AU $57 to $79 $156 to $507 $57 to $75
MS 60 $68 to $81 $585 to $673 $68 to $81
MS 61 $68 to $81 $624 to $718 $68 to $81
MS 62 $72 to $86 $715 to $822 $72 to $86
MS 63 $97 to $117 $960 to $1,100 $92 to $104
MS 64 $120 to $139 $1,150 to $1,290 $120 to $135
MS 65 $240 to $289 $2,250 to $2,590 $240 to $266
MS 66 $585 to $644 $5,000 to $6,000 $338 to $389
MS 67 $2,620 to $4,060 $31,200 to $35,900 $1,500 to $1,880
MS 68 / $96,000 to $120,000 $24,000 to $28,800

*by Greysheet

This coin in good grade will be worth a modest $20, while those in the mint state typically cost a few hundred dollars. The most expensive piece in MS 68 rank was sold at auction for $21,850.

 

Morgan Silver Dollar Key Dates and Rarities

The 1898 O Morgan silver dollar was a great rarity in the series since almost none was released into circulation. After the Treasury Department disgorged them from long-term storage in October 1962, their price dropped.

Since no errors are minted this year, all coins produced in 1898 are considered common.

 

1898 Morgan Silver Dollar Grading

1898 Morgan Silver Dollar Grading

The only way to precisely estimate the 1898 Morgan silver dollar value is by determining the particular piece’s stages of wear.

It will be worth even in the lowest grade since it contains precious metal, but only high-quality coins have additional historical and collectible value.

Uncirculated – The coin in the mint state looks like a newly struck piece without any signs of wear. You can only notice light scratches occurred after contact with other dollars in the bag. Such a coin needs to have original texture and mint luster on the entire surface.

1898 PL Morgan silver dollar value*

Quality 1898 PL 1898 S PL 1898 O PL
AU / $488 to $572 /
MS 60 / $640 to $740 /
MS 61 $84 to $100 $686 to $789 $84 to $100
MS 62 $97 to $117 $786 to $904 $97 to $117
MS 63 $128 to $148 $1,060 to $1,210 $128 to $148
MS 64 $169 to $203 $1,350 to $1,550 $169 to $203
MS 65 $455 to $546 $4,120 to $4,750 $247 to $284
MS 66 $1,220 to $1,500 $9,380 to $10,800 $845 to $1,020
MS 67 $6,880 / $5,380 to $8,120

*by Greysheet

Extra fine – This coin spent barely any time in use, so you can conclude it is in perfect shape at first glance.

Only close inspection can help you see scratches on Liberty’s cheek, slight imperfections on the eagle’s breast and legs, and discolorations on the surface. Even though these changes negatively affect the 1898 Morgan silver dollar price, it will be desirable for most collectors.

Fine – Once well-defined Liberty’s face lines have been reduced by moderate wear. Delicate hair strands have merged into flattened areas, while leaves and cotton blossoms became outlined without delicate details.

Since this coin is not heavily damaged, most collectors consider them affordable and desirable pieces for their collections.

1898 Morgan silver dollar (DMPL) value*

Quality 1898 DMPL 1898 S DMPL 1898 O DMPL
MS 61 $143 to $172 $755 to $868 $143 to $172
MS 62 $196 to $234 $904 to $1,070 $195 to $234
MS 63 $292 to $344 $1,500 to $1,720 $ 312
MS 64 $520 to $650 $2,750 to $3,750 $520 to $585
MS 65 $1,020 to $1,880 $15,000 to $18,000 $1,020 to $1,250
MS 66 $6,250 to $8,750 / $2,810 to $3,750
MS 67 $36,000 to $42,000 / $16,800 to $19,300
MS 68 / / $48,000 to $57,600

*by Greysheet

Good – This coin spent years in circulation, so it is heavily worn and without expected shine and texture. All images and inscriptions are worn out, and the coin surface looks distinctly flat.

Such a piece has only silver content value, except for the rare ones minted in San Francisco that can reach a higher price.

 

Summary

Since the 1898 Morgan (Liberty) silver dollar is a widespread coin in most grades, you can buy it at an affordable price. Those in good condition are worth only the cost of silver they are made of, but some rare pieces in excellent condition can be pricey.

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