By Bullion Shark LLC ……
What Are Silver Dollars Worth?
A common-date Morgan or Peace silver dollar – the most widely collected types of these coins — can be worth anywhere from $25 to $35 in low grade to $50 for a common date in MS60, $125 in MS65 and $700 in MS67, the highest grade for most dates.
Then there are the truly rare silver dollars — those that have sold for the highest amounts ever in auctions or private sales that have realized from several hundred thousand dollars to over $10 million! These sale prices reflect how few examples exist of that issue in that grade, the role of the coin in numismatic history, the coin’s pedigree and other factors. For example, many are the finest known example of a coin that was not supposed to have been made.
There are many other rare silver dollars, but these are the most valuable coins for each main type of silver dollar based on actual sales.
Most Valuable Silver Dollars
1794 Flowing Hair PCGS SP66
The U.S. coin that to date remains the one sold for the highest amount ever is the finest example of a 1794 silver dollar, which is widely viewed as the first silver dollar ever struck by the United States Mint. In January 2013 it brought $10,016,875 USD, and it was recently offered for sale again but failed to meet its reserve price.
1804 Bust Dollar PCGS PR68
Despite the date that appears on the coin, no 1804 dollars were actually struck in 1804. Instead, a very small emission of coins with the 1804 date were struck in 1834 for use as gifts to foreign dignitaries during an overseas State Department diplomatic mission. These are what are known as Class I 1804 dollars. Two additional varieties at a later time, one variety, the Class II, is a unique unauthorized piece that was struck over an 1857 Swiss Shooting Thaler. This coin used to be housed in the Mint Cabinet and is now part of the National Numismatic Collection at the Smithsonian Institution in Washington, DC. The third type, the Class III, was struck “off the books” for collectors in the 1850s. The public sale of an 1804 dollar is always a major event in the hobby, but the most famous of all of them, the finest known Type I, formerly in the possession of the Sultan of Muscat, reached a bid of over $10 million in a May 2016 Stack’s Bowers auction before failing to meet the reserve.
1870-S Seated Liberty PCGS
No 1870-S dollars were made according to Mint records, but 12 are known to exist, including a Mint State coin graded by PCGS that sold in 2003 for $1,092,500. Experts believe that these coins were either made secretly by Mint employees (like several of the great rarities), or they could have been made for the laying of the cornerstone for the new San Francisco Mint on May 25, 1870.
1885 Trade Dollar NGC PF66
Until 1908 it was believed that no Proof Trade dollars were made after 1883, but in 1908 a group of 1884 and 1885 Proofs were discovered. This coin, which is the finest known example, sold for $3,960,000 in early 2019 and is one of only five examples known to exist. This coin was once part of the famous Louis Eliasberg collection. Since there are no records of how this coin came into existence, it is believed they were made secretly by Mint employees.
1884 Trade Dollar NGC PF66
The second-finest known example of the 10 1884 Trade dollar Proof coins struck, which was also part of the Eliasberg collection, sold in the same auction in 2019 as the 1885 coin, realizing $1,140,000. 264 of the 1884 coins were struck; all were melted except 10 that were legally acquired by a Mint employee.
Morgan Silver Dollars
1889-CC NGC MS68
The scarcest date struck at Carson City, the 1889-CC is truly elusive above MS64 with just one MS65 graded by PCGS and five by NGC. The two finest coins are one MS68 graded by PCGS and one MS67 graded by NGC. The MS68 sold in July 2013 for $881,250. That coin was originally part of the famous Louis Eliasberg collection.
1886-O PCGS MS67+DMPL
Despite having an original mintage of over 10 million, 1886-O has been seen as scarce in Mint State since the 1960s. And the date is also known for very poor strikes and luster. Only three coins have been graded MS65 including one MS65+, and the finest example of this date is the one coin graded PCGS MS67+DMPL that sold last month for $780,000. It previously sold in 1990 for $230,000.
1884-S PCGS MS68
Because most 1884-S dollars were released into circulation, and most of those that remained in government vaults were likely melted under the 1918 Pittman Act. As a result, Mint State coins are scarce, especially coins graded MS65 and above that are truly elusive. NGC has graded just two coins MS65 and one MS67, and PCGS has graded one each at MS65, 67 and 68. The finest known example, the PCGS MS68 once owned by collector Jack Lee and silver dollar expert Wayne Miller, has sold for $750,000.
One other Morgan dollar that has sold for a similar amount is the finest known example of the 1893-S, the lowest mintage coin of the series graded PCGS MS67, which realized $735,000 in 2018.
1922 Matte Finish High Relief Proof PCGS PF67
Two of only five to eight examples known to exist of this coin were sold in a 2014 auction. The higher-grade PF67 coin realized $458,520 when sold by the family of a man to whom the daughter of former Treasury Secretary Raymond T. Baker had given the coin. Baker’s estate had included some trial pieces from this period when the Philadelphia Mint experimented with ways to lower the relief of the Peace dollar that encountered striking problems with the 1921 High Relief coin, but the tiny number of 1922 HR Proofs are not believed to be trial coins but rather may have been made for Chief Engraver George Morgan to sell to collectors.
1927-D PCGS MS66+
One of only five coins examples of the 1927-D Peace dollar graded by PCGS (with another six graded by NGC), this amazing example with full cartwheel luster brought $176,250 in March 2019. Normally, this date comes poorly struck with dull luster.