Three mints produced Morgan silver dollars in 1904. All of them are highly collectible pieces like others in the series, and collectors are prepared to pay a high sum of money for those in the highest grades.
As you can expect, the 1904 Morgan silver dollar value will depend on its condition, the mint mark, and possible error. Such a coin is a valuable piece of American history and contains precious metal. Therefore, even species in the worst condition will be worth something.
1904 Morgan Silver Dollar History
The Morgan silver dollar production started in 1878 after the government decided to purchase silver monthly. Then, mints struck them into coins under the Bland-Allison Act.
1904 Morgan silver dollar |
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| Location | Year | Minted | Value |
| Philadelphia | 1904 | 2,788,650 | $35 |
| Philadelphia | 1904 proof | 650 | $3,200 |
| San Francisco | 1904 S | 2,304,000 | $100 |
| New Orleans | 1904 O | 3,720,000 | $35 |
| Total | / | 8,812,650 | / |
English engraver George T. Morgan designed this dollar after a Philadelphia schoolteacher, Anna Willess Williams, and made one of the most beloved coins in American history. Even though five mints made Morgans, only three minted them in the last production year.
1904 Morgan silver dollar |
|
| Face value | 1 dollar ($1) |
| Compound | 90% silver and 10% copper |
| Coin thickness | 0,09 inches (2,4 mm) |
| Coin weight | 0.85939 troy ounces (26.73 g) |
| Coin diameter | 1,5Â inches (38.1mm) |
| Edge | Reeded |
| Shape | Round |
You can see left-facing Lady Liberty wearing a Phrygian cap and the LIBERTY inscription written along the decorative ribbon. She also wears a crown made of the American most lucrative agricultural assets, cotton and wheat.
The date and the Latin saying E PLURIBUS UNUM are positioned along the coin rim, and a tiny letter M you can notice on the Lady’s neck is a Morgan’s initial. Thirteen stars represent the first colonies that formed the original US Union.
1904 Morgan silver dollar value* |
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| Quality | 1904 | 1904 S | 1904 O |
| Good | $33 | $62 | $28 |
| Very good | $38 | $66 | $35 |
| Fine | $45 | $85 | $40 |
| Very fine | $49 | $99 | $46 |
| Extra fine | $58 | $234 | $49 |
| About uncirculated | $66 | $566 | $52 |
| MS 60 | $119 | $2,562 | $62 |
| MS 65 | $3,199 | $12,547 | $213 |
| PR 63 | $3,240 | / | / |
*by USA Coin book
A heraldic eagle with outstretched wings and with an olive branch and three arrows in clutches dominates the Morgan dollar reverse. It is positioned between the inscription IN GOD WE TRUST at the coin top and domination at the bottom.
You can also see the legend UNITED STATES OF AMERICA along the coin rim. If you have a piece struck in New Orleans or San Francisco, you will find O or S letter below the wreath.
1904 Morgan Silver Dollar Types
1904 Morgan silver dollar
The Philadelphia mint had a mintage of 2,788,650 Morgan silver dollars in 1904. That year, the mint ran out of silver supplies by June, and pieces struck this year were among the worst minted in the entire series.
1904 Morgan silver dollar value* |
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| Quality | 1904 | 1904 S | 1904 O |
| Very fine | $40 | $90 | $20 |
| Extra fine | $50 | $230 | $29 |
| AU | $60 | $625 | $30 |
| MS 63 | $300 | $4,000 | $50 |
| MS 65 | $3,800 | $10,000 | $150 |
*by COIN HelpU
Many of these coins are poor quality, weakly struck, or damaged because of careless storage. Even though over 2.5 million were melted under the Pittman Act of 1918, this coin is abundant in the current coin market.
You can get most pieces, including those in the mint state, for an affordable price. The finest known specimen in MS 66 condition holds an auction record of $17,625.
1904 proof Morgan silver dollar
Precisely 650 proof Morgan dollars were minted in Philadelphia in 1904. They are typically pricey, and you should set aside $2,000 to $20,000 for a piece, depending on its condition.
1904 Prof Morgan silver dollar value* |
|
| Quality | 1904 |
| PR 60 | $2,250 to $2,440 |
| PR 61 | $2,750 to $3,000 |
| PR 62 | $3,060 to $3,310 |
| PR 63 | $4,120 to $4,440 |
| PR 64 | $4,750 to $5,190 |
| PR 65 | $6,000 to $7,090 |
| PR 66 | $7,620 to $8,880 |
| PR 67 | $22,200 to $26,400 |
*by Greysheet
Proofs with cameo contrast are even more valuable, with the price of approximately $10,000 to $70,000.
1904 S Morgan silver dollar
Any of the remaining Morgan silver dollars of 2,304,000 minted in San Francisco in 1904 is considered rare.
1904 Morgan silver dollar value* |
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| Year | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1904 | $24.12 | $26.7 | $31.8 | $76.9 |
| 1904Â S | $26.7 | $31.78 | $236 | $2,100 |
| 1904Â O | $23.12 | $26.7 | $29.9 | $45.4 |
*by CoinStudy
Those in low grade will be worth at least $100, while pieces in the mint state will cost you $4,000 to $12,000. A rare coin in MS 67 condition was sold at an auction for an unbelievable $70,500.
1904 O Morgan silver dollar
The New Orleans mint produced 3,720,000 Morgans in the last minting year. Since more pieces were struck than were needed for use, they spent years in the Treasury. After Congress passed the Pittman Act in 1918, most supplies were melted and silver sold to Britain.
1904 PL Morgan silver dollar value* |
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| Quality | 1904 PL | 1904 S PL | 1904 O PL |
| MS 63 | $1,720 to $1,980 | $9,060 to $10,400 | $128 to $148 |
| MS 64 | $3,780 to $4,350 | $12,600 to $15,000 | $186 to $203 |
| MS 65 | $26,400 to $30,400 | $19,200 to $24,000 | $286 to $329 |
| MS 66 | / | $42,000 to $48,000 | $682 to $785 |
| MS 67 | / | / | $9,380 to $14,400 |
*by Greysheet
Most 1904 O Morgan silver dollars will cost you $20 to $200, but some high-grade pieces can be expensive. For instance, one regularly struck coin reached $39,950 at auction in 2017.
One MS 67 PL piece holds an auction record of $19,200 after a collector bought it in the same year. Finally, the MS 66+ DMPL Morgan was sold for $12,338 in 2018.
1904 Morgan Silver Dollar Rarities and Key Dates
As you know, most key dates and rarities are worth considerably more than common pieces. Unfortunately, there are no unique and highly valuable silver Morgans minted in 1904.
1904 DMPL Morgan silver dollar value* |
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| Quality | 1904 DMPL | 1904 O DMPL |
| MS 64 | $42,000 to $54,000 | $455 to $488 |
| MS 65 | $72,000 to $84,000 | $1,150 to $1,290 |
| MS 66 | / | $3,000 to $3,450 |
| MS 67 | / | $12,600 to $15,000 |
*by Greysheet
1904 Morgan Silver Dollar Grading
Determining a coin condition is a necessary step to find its accurate value. You have two options to do that appropriately. You can either have your specimen checked or evaluate it on your own by following the official guidelines.
Uncirculated – Silver dollars in the mint state never circulated, and you can’t spot any signs of wear on its surface. It exhibits a minted-like luster, intact texture, and preserved details, including the highest points.
However, you can sometimes see so-called bag marks and light damage resulting from carrying coins around in the giant canvas bags. That is why you can’t find a piece in the perfect MS 70 grade.
1904 Morgan silver dollar value* |
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| Coin | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1901 | $23 to $25 | $28 to $30 | $34 to $36 | $105+ |
| 1901 S | $30 to $32 | $38 to $40 | $160 to $175 | $1,750+ |
| 1901 O | $21 to $22 | $22 to $23 | $24 to $25 | $35+ |
*by Coinflation
Extra fine – The coin in this condition will have slight signs of wear that diminish delicate hair details behind Liberty’s ear. You can also see the light flattening of her cap’s folds.
Fine – After spending some time in circulation, many details on the coin surface miss or are worn out. Hair wisps are mostly merged, and only the deepest lines are visible. Plus, the cotton blossoms and wheatears have become only outlines.
1904 Morgan silver dollar value* |
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| Quality | 1904 | 1904 S | 1904 O |
| Good | $40.5 to $52 | $45.9 to $57 | $40.5 to $52 |
| Very good | $45.9 to $57 | $51 to $62 | $45.9 to $57 |
| Fine | $48.6 to $58 | $54 to $81 | $48.6 to $58 |
| Very fine | $49.3 to $59 | $101 to $195 | $49.3 to $59 |
| Extra fine | $51 to $65 | $422 to $663 | $51 to $61 |
| AU | $68 to $133 | $1,250 to $3,160 | $57 to $75 |
| MS 60 | $162 to $195 | $3,500 to $4,020 | $68 to $81 |
| MS 61 | $176 to $211 | $4,000 to $4,600 | $68 to $81 |
| MS 62 | $214 to $247 | $4,380 to $5,030 | $72 to $86 |
| MS 63 | $494 to $526 | $5,500 to $6,320 | $92 to $104 |
| MS 64 | $715 to $780 | $6,880 to $7,910 | $115 to $128 |
| MS 65 | $1,690 to $2,000 | $8,620 to $9,920 | $240 to $260 |
| MS 66 | $5,380 to $6,880 | $19,800 to $22,800 | $377 to $414 |
| MS 67 | / | $72.000 to $82.800 | $4,120 to $5,620 |
*by Greysheet
Good – This silver dollar is distinctly flattened and often entirely worn out. You can’t clearly recognize the line between hair and forehead, the cotton blossoms are lost, and the hair above the Liberty’s ear is almost entirely smooth.
Such a coin is in the worst possible condition for a collectible item, and most will be worth only the price of silver.
Summary
Most collectors like Morgan’s series and are prepared to pay for coins in the desired condition. The 1904 Morgan silver dollars produced in any of three mints are on the list of affordable and available pieces. The choice is wide, and collectors can purchase a specimen consistent with their preferences and budget.
