Did you stumble upon a rather old 1899 silver dollar coin? Given that this coin is already over 120 years old, you might be interested in finding this peculiar coin’s value right now. You’ll find that these Morgan silver dollar coins, as they are called in the collector’s community, bargain for quite a lot of money.
If you want to see the value of these 1899 silver dollar coins, you’ve come to the right place! In this article, we are going to be taking an extensive look at these 1899 Morgan silver dollar coins, their value, history, mint marks, and everything else!
1899 Silver Dollar Details
- Category: Morgan Silver Dollar
- Mints: Philadelphia, New Orleans, San Francisco
- Year: 1899
- Total Mintage: 15,182,000
- Obverse Designer: George T. Morgan
- Reverse Designer: George T. Morgan
- Edge: Reeded
- Diameter: 38.1 millimeters (1.5 inches)
- Thickness: 2.9 millimeters (0.09 inches)
- Composition: 90% silver, 10% copper
- Weight: 26.73 grams
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1899 Silver Dollar Value Chart
| Mint Mark | Good (G-4) | Fine (VF-12) | Extremely Fine (XF-40) | Uncirculated (MS-60) |
| 1899 (P) No Mint Mark Silver Dollar Value | $175 | $194 | $233 | $307 |
| 1899 O Silver Dollar Value | $27 | $38 | $47 | $60 |
| 1899 S Silver Dollar Value | $40 | $51 | $75 | $424 |
1899 Silver Dollar Values and Varieties Guides
1899 (P) No Mint Mark Silver Dollar
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: None
- Place of minting: Philadelphia
- Year of minting: 1899
- Face value: $1
- $ price: $175 to $20,000
- Quantity produced: 330,000
- Designer: George T. Morgan
The 1899 Morgan silver dollar minted at Philadelphia is special not just because it is the only coin among the varieties to have no mint mark, but because it has a low production number. At only 330,846, these coins command quite the premium at all conditions.
Because of its low mintage, the 1899 Morgan coin is actually rarer in worn grades. Modern estimates put coins in grades 60 and lower to be around 6,000-12,000, hence why they call for $175 at the starting grade G-4 (Good).
Hoard coins of the 1899 dollar were obtained from Las Vegas, which is odd given that coins often found there were from San Francisco or from the Carson City Mint. Nevertheless, 10 bags with around 50,000 to 100,000 Mint coins were released by the Treasury.
Perhaps because of the release of these hoard coins, the 1899 Morgan dollar in Mint state is readily available. In fact, the average grade of all known 1899 Morgan dollars is 62, skewing their availability on the higher grades.
From MS-60 to MS-63 (Mint State), estimates go to around 20,000. The coin becomes rarer at higher grades, with only 4,675 at MS-65 or higher.
Despite being a semi-key date, the high availability of gem examples (coins with MS-65 grade and higher) renders their price lower than other semi-keys in the series. They can go for $300 to $1000 upon reaching the MS-65 grade.
Proof coins were also only struck at the Philadelphia Mint. Specially struck to create a mirror-like finish on the coin, there were 846 proof coins available. Proof coins can have a grade of PR-63 but command a price of $3,750.
The current auction record for an 1899 Morgan silver dollar is $21,150 with a condition grade of MS-67+.
1899-O Silver Dollar
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: O
- Place of minting: New Orleans
- Year of minting: 1899
- Face value: $1
- $ price: $33 to $37,500
- Quantity produced: 12,290,000
- Designer: George T. Morgan
The New Orleans Mint produced the most 1899 Morgan silver dollar coins, comprising around 80% of the total mintage. Perhaps because of this, they only command a fraction of the starting price of the Philadelphia coins at $33.
Before the 1940s, the New Orleans-struck coins were a rarity, especially at higher grades. However, starting in 1947, bags of 1899-O coins were released and distributed among banks.
In October 1962, large quantities of bags containing a majority of 1899-O Mint coins were released. Because of this occasion, the concentration of the current available 1899-O dollar coins is heavily skewed on the Mint condition.
Most 1899-O pieces are distributed on the MS-60 to MS-64 levels. With around an estimated 1,200,000 coins remaining, around half of those are Mint state. Although the population sharply drops above MS-65, there is still enough to go around.
The 1899-O coins are also known to have the most amount of deep mirror proof-like coins amongst all Morgan dollars, with around 25% of them having a grade of MS-65 or higher.
The availability of these higher-grade pieces renders even the gem examples at up to $650 even at MS-66+. You can even get an MS-67 coin for a relatively low price of $1,750. The current auction record for the 1899-O Morgan silver dollar is an MS-68 piece that sold for $29,900.
1899-S Silver Dollar
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: S
- Place of minting: San Francisco
- Year of minting: 1899
- Face value: $1
- $ price: $40 – $53,000
- Quantity produced: 2,562,000
- Designer: George T. Morgan
The San Francisco mintage, although not as high as the New Orleans mintage, is still a considerably higher amount than the Philadelphia mint, so they command a similar premium to the 1899-O dollars, starting at $40.
However, the full mintage was not released to circulation. Around the mid-1950s, there was a steady stream of Uncirculated 1899-S coins paid out by the San Francisco Mint from their vaults untouched for decades. The Redfield hoard had a bag of coins in MS-60 to MS-63 grade, highly likely from this.
Because the coin was not widely circulated, worn grades of the coin are quite rare, which is a shame since the market value does not reflect this rarity. Many AU coins, once called “sliders”, came from the Treasury bags released in 1962-1964.
The 1899-S coins are known to be very well-struck. They have excellent luster and minimal bag marks, indicating that they were relatively untouched while stored in the San Francisco Mint vault.
Most 1899-S coins, just like the other 1899 Morgan dollars, are skewed on the higher grades. MS-60 to MS-62 sport 15,000 to 25,000 pieces, while MS-63 to MS-64 sport a bit lower count, at 9,000 to 16,000. Higher grades above MS-65 are noted to be even rarer than the Philadelphia variants, despite having a higher mintage.
While MS-60 to MS-64 are modestly priced at $625 to $1,100, the sheer rarity of MS-65 and above grades commands a higher premium than the Philadelphia mints. They start at $2,350, and the current auction record for the 1899-S coin is an MS-67+ that sold for over $49,900.
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1899 Silver Dollar History
The 1899 silver dollar is part of a series of coins called the Morgan dollar. Named after their designer, George T. Morgan, the Morgan dollar was minted from 1878 to 1904, then reissued once in 1924.
The Morgan dollar came to life during the late 19th century’s advocacy of free coinage of silver. When the Comstock Lode was discovered, a huge supply of silver was entering the market. However, when the value of silver dropped years later, the 1873 Coinage Act ended the production of silver coins.
With a surplus of supply, silver’s value dropped. However, silver advocates lobbied for the unlimited coinage of silver, which would have caused an inflationary monetary policy. This was favored by farmers and other debtors who would then be able to pay off immense debts with cheaper dollars.
Although not entirely subscribing to the unlimited coinage of silver, the Bland-Allison Act of 1878 was a step in that direction. The act required that the US Treasury buy a certain amount of silver to be coined into dollars. The Sherman Silver Purchase Act of 1890 further increased the amount of silver that the government has to purchase.
Later on, the Silver Purchase Act was repealed due to the Panic of 1893, and the remaining silver bullion was to be produced until they were exhausted in 1904. The 1899 silver dollar coins were minted during this period.
The Pittman Act of 1918 called for the conversion of standard silver dollars, most of which were Morgan dollars, into silver bullion as financial relief to the British government. It has been estimated that around 90% of all standard silver dollars were lost to this melting. Because of this, Morgan dollars are greatly sought after by collectors.
George T. Morgan’s design, the United States Mint Assistant Engraver, was chosen over William Barber’s design, who was the Chief Engraver at that time. Anna Willess Williams from Philadelphia was the model for the representation of Liberty.
Initially, the coin was minted in four locations: Philadelphia, New Orleans, San Francisco, and Carson City. The Carson City Mint stopped operations in 1893, so no 1899 silver dollars were ever minted there. The Denver Mint was another location where Morgan dollars were minted, although they only minted them for one year in 1921.
In modern times, the Morgan dollar, together with the Peace dollar, was minted again starting in 2021 to celebrate the 100-year anniversary of the transition from the former to the latter, which signified a major point in American history. However, the program was stopped in 2022 and plans to be resumed in 2023.
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1899 Silver Dollar Grading
Collectors utilize a coin grading scale to judge the condition of a coin. This scale goes from 1 to 70, but it is often simplified into qualitative categories, like Good, Fine, Almost Uncirculated, and Mint State.
You’ll find that most Morgan dollars are in the Mint State condition, owing to the fact that many of these coins were hidden and not introduced to commerce. If you have an 1899 Morgan silver dollar coin, you might want to check out this YouTube video to see what grade your coin is.
Lists of 1899 Silver Dollar Error
1. 1899-O Silver Dollar with Micro-O Mint Mark Error
The micro-O error is an error on the 1899-O silver dollar, which is common to five VAM codes: 6, 31, 5, 4, and 32. This mint mark is distinctively different from the standard O mint mark: where it is usually upright, the micro O is tilted to the right and less tall.
For an unknown reason, the O mint die used in Barber quarters was instead used to strike these coins, hence the micro-O error. VAM 32 is deemed the rarest out of these varieties. However, VAM 6 is used as the master for making counterfeit micro-O reverses dated 1896, 1900, and 1902.
The current auction record for the 1899 micro-O silver dollar is over $73,400, with an MS-66 coin last 2015.
2. 1899-O Silver Dollar with Die Adjustment Strike Error
The die adjustment strike error refers to an intriguing error in the coin where details are ill-defined. The border legends and stars are barely visible and outlined in both the obverse and reverse. This error is found on 1899-O coins
These coins were perhaps used as a test piece when new dies were being installed on the coining press. These coins were the result of the adjustment phase of these presses, resulting in a faint design pressed onto these coins.
The current auction record for this coin is $730 since these are almost never found in a mint state.
1899 Silver Dollar Value FAQ
How much is an 1899 silver dollar coin worth?
You can base an 1899 silver dollar coin’s worth on its melt value, which works out to around $17. However, you can also base it on its rarity and condition. It may be worth $33 to $53,000.
Where is the mint mark on an 1899 silver dollar?
The mint mark of the 1899 silver dollar is found on the reverse, just right above the letters D and O. There are two mint marks that you may find on an 1899 silver dollar: S for San Francisco, and O for New Orleans. If you find no mint mark, that coin was minted in Philadelphia.
How much silver is in an 1899 Morgan silver dollar?
As stipulated by the Bland-Allison Act, all Morgan dollars, including the 1899 silver dollar, are made to be 90% silver and 10% copper. That comes out to be 0.7735 troy ounces of pure silver.