The Morgan Silver Dollar series (1878–1921) is one of the most collected American coin series, with a deep collector base and a well-documented hierarchy of key dates and varieties.
1. 1893-S Morgan Dollar
The series king. Lowest business-strike mintage at 100,000 coins. Rare in all grades; extremely rare in MS condition. Read more →
2. 1895 Proof Morgan Dollar (“King of Morgans”)
The 1895 Philadelphia issue exists only as proofs (880 produced) — no business strikes were released to circulation. The “King of Morgans” is essential to any complete Morgan series.
3. 1893-O Morgan Dollar
The New Orleans Mint counterpart to the 1893-S, with a 300,000 mintage. Rare in higher Mint State grades.
4. 1889-CC Morgan Dollar
Carson City issue with a 350,000 mintage. The most prized of the popular CC mintmark Morgan series.
5. 1894 Morgan Dollar (Philadelphia)
Philadelphia issue with a 110,000 mintage — second-lowest of the series. Rare in all grades.
6. 1879-CC Morgan Dollar
Carson City issue with a 756,000 mintage but heavy circulation. Rare in MS grades.
7. 1885-CC Morgan Dollar
One of the lowest CC mintages at 228,000. Many examples were preserved in original government bags, making lower-MS examples more available than the mintage suggests.
8. 1903-O Morgan Dollar
Once considered a major rarity, the 1903-O became more available after the discovery of original Treasury bags in the 1960s. High-grade examples remain valuable.
9. 1899 Morgan Dollar (Philadelphia)
Low Philadelphia mintage of 330,000. Strong premiums in MS condition.
10. 1921 Peace Dollar (Year of Type Conversion)
While technically a Peace Dollar rather than a Morgan, the 1921 Peace is sometimes included in advanced Morgan collections. The high-relief design was used only in this single year.
VAM Varieties
Morgan Dollar collecting includes the deep VAM (Van Allen-Mallis) variety system — die varieties identified by die-state characteristics. Top VAM varieties include the 1878 8TF/7TF reverses, 1880-CC 8/7, 1888-O Hot Lips (doubled die obverse), and 1901 Doubled Die Reverse (VAM-3). Top VAM examples can rival key dates in value.
Notes on Grading
PCGS and NGC dominate Morgan Dollar certification. Eye appeal — original luster, original toning, and minimal contact marks — drives substantial premiums even within the same numerical grade. The “Plus” (+) and “Star” (★) designations significantly affect market value.
See Also
Always verify current values through PCGS CoinFacts, Heritage Auctions archives, and Stack’s Bowers sales records before transacting.