Morgan Silver Dollars are a cornerstone of many coin collections due to their historical significance and intrinsic value. Many collectors seek out the 1900 Morgan Silver Dollar to fill a place in their collection. Its value depends on several factors.
In this post, we’ll explore the primary ways to assess the value of a 1900 Morgan Dollar, factors that influence its price, mint marks, and the range of values across different coin conditions.
Major Factors Influencing the Value of a 1900 Morgan Silver Dollar
Condition (Grade)
The coin’s state of preservation significantly affects its value. Coins that exhibit little wear, sharp details, and lustrous surfaces command higher prices. Numismatists use the Sheldon grading scale, ranging from Poor or Cull (P-1) to Mint State (MS-70). Common conditions include:
- Circulated (G-4 to XF-45): Shows considerable wear, often sold alongside junk silver for a slightly higher premium.
- Uncirculated/Mint State (MS-60 to MS-70): Free from wear but may contain bag marks.
- Proof-like (PL) or Deep Mirror Proof-like (DMPL): Exhibits reflective surfaces, increasing rarity and value.
Mint Marks
Morgan Silver Dollars were struck at multiple mints, each using a mint mark that affects the coin’s rarity and value.
- No Mint Mark: Philadelphia Mint
- O: New Orleans Mint
- S: San Francisco Mint Coins minted at San Francisco (S) or New Orleans (O) can be worth more than those from Philadelphia, especially in higher grades.
Mintage and Rarity
- Philadelphia Mint: 8,830,000 coins
- New Orleans Mint: 12,590,000 coins
- San Francisco Mint: 3,540,000 coins Coins from San Francisco are scarcer and tend to have higher values in Mint State conditions.
Eye Appeal and Strike Quality
Coins with exceptional luster, toning, or sharp strikes can fetch premiums over similar-grade coins without these qualities. Collectors highly prize pieces with colorful toning or minimal abrasions.
Value Ranges for 1900 Morgan Silver Dollars
Below are typical value ranges for 1900 Morgans based on condition and mint mark.
| Condition | Philadelphia (No Mint Mark) | New Orleans (O) | San Francisco (S) |
|---|---|---|---|
| Good (G-4) | $35 – $40 | $40 – $50 | $50 – $60 |
| Fine (F-12) | $45 – $55 | $55 – $65 | $70 – $85 |
| Extremely Fine (XF-45) | $70 – $90 | $90 – $110 | $120 – $150 |
| Mint State (MS-60) | $180 – $210 | $210 – $250 | $300 – $350 |
| Mint State (MS-65) | $450 – $600 | $700 – $1,000 | $1,200 – $2,000 |
Prices may vary based on market conditions and availability. Rarely, coins with unusual toning or exceptional strikes can sell for even more.
Special Editions or Errors
While there were no official proof coins issued for circulation in 1900, collectors look for coins with Deep Mirror Proof-like (DMPL) finishes. These coins resemble proofs, with mirrored fields and frosted devices, and command substantial premiums.
Additionally, keep an eye out for VAM varieties (Van Allen and Mallis), which refer to unique die varieties with small errors or anomalies. Some VAM varieties are highly sought after by collectors, increasing the value well beyond typical market prices.
Auction Records for 1900 Morgan Dollars
Rare specimens of the 1900 Morgan Silver Dollar, particularly those graded MS-65 or higher, have fetched high prices at auctions. For instance:
- MS-67 1900-S: Auctioned for over $15,000 due to its exceptional quality.
- DMPL 1900-O: Sold for $5,000+ at auction, thanks to its deep mirror fields and high grade.
Coin Roll Hunting for Morgan Dollars
Finding Morgan Silver Dollars, including the 1900 issue, through coin roll hunting is exceedingly rare. Most Morgans have been pulled from circulation, making them unlikely finds. However, collectors can still search estate sales, flea markets, and coin shops for opportunities to acquire these coins at reasonable prices.
Specifications of the 1900 Morgan Silver Dollar
- Composition: 90% Silver, 10% Copper
- Silver Content: 0.7734 troy ounces
- Weight: 26.73 grams
- Diameter: 38.1 mm
- Edge: Reeded
How Many Fit in a Standard Bank Roll?
A standard bank roll for Morgan Dollars contains 20 coins, which amounts to approximately 15.47 troy ounces of silver.
Are Peace Silver Dollars a Good Investment?
While many collectors gravitate towards Peace Dollars for their historical value, Morgan Silver Dollars offer similar appeal with broader demand. Investors appreciate the Morgan’s intrinsic silver value and potential for numismatic appreciation. Coins with high grades, low mintages, or special varieties can outperform modern bullion coins, making them a compelling option for both collectors and investors.
The 1900 Morgan Silver Dollar offers a captivating glimpse into American numismatic history. Whether you seek an affordable circulated example or a high-grade rarity, understanding the factors that influence its value will help you make informed decisions and build a meaningful collection.