Morgan and Peace Dollars: A Field Guide for Sellers

Silver dollars are the coins people most often inherit and least often understand. They are large, obviously old, and unmistakably silver, which makes them easy to notice and easy to misjudge.

This guide covers what to look at on the coin itself and which years deserve a closer look before anything is sold.

The Morgan dollar, 1878 through 1921

Struck from 1878 to 1904, then revived for a single year in 1921, the Morgan carries a bit over three-quarters of an ounce of silver. That alone gives even the most ordinary example a solid floor, and steady collector interest keeps it above that floor.

The detail worth learning is where to look for the mint mark. Turn the coin over and check just beneath the wreath. A blank space means Philadelphia. An O, S, or D means New Orleans, San Francisco, or Denver. The two letters that make collectors pay attention are CC, for Carson City.

The Peace dollar, 1921 through 1935

The Peace dollar replaced the Morgan design after the First World War and ran to 1935, carrying the same silver weight. The first year of issue was struck in high relief and stands apart, and the 1928 Philadelphia coin is the low-mintage date the series is known for.

Years that justify a second look

A handful of dates can be worth many multiples of their metal even in ordinary condition. It is worth checking a group against this short list before selling.

Any Carson City Morgan, marked CC beneath the wreath
1889-CC, among the most sought Carson City strikes
1893-S, the coin that anchors the top of the Morgan series
1895, encountered chiefly as a proof-only rarity
1928 Peace dollar from Philadelphia, the series low-mintage year

Why these get read one at a time

Condition swings a silver dollar hard. A common year might carry a modest premium worn and a substantial one if it never circulated, so a bag priced by weight almost certainly contains coins being underpaid.

And the standing rule applies here more than anywhere: do not clean them. A brightened dollar reads as damaged to anyone buying seriously.

Key takeaways

Both series carry roughly three-quarters of an ounce of silver.
The mint mark sits below the wreath on the reverse; CC is the one to spot.
A short list of years trades at multiples of metal.
Condition swings the price, so read dollars individually.

FAQ

Common questions

Where exactly do I look for the mint mark?

On the reverse of the coin, in the small space just below the wreath. No letter indicates Philadelphia, while O, S, D, and CC indicate New Orleans, San Francisco, Denver, and Carson City respectively.

Is an old silver dollar always worth a lot?

Every one carries meaningful silver plus a collector premium, so none are worthless. Whether a particular coin is worth substantially more comes down to its year, its mint, and how well it survived.

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