If you have an old 1884 Morgan silver dollar coin in your coin collection, you could earn a fortune as big as $85,000 today. This guide offers easy tips to spot this valuable silver dollar coin and assess its market value based on factors, like condition, mint marks, and rare minting errors!
An old 1884 Morgan Dollar is valued at around $40 to $100 in circulated condition, but it can fetch hefty values as high as $750,000 based on several factors, such as mint mark, condition, and rarity.
Brief History of 1884 Morgan Dollar
The 1884 Morgan Dollar was part of the Morgan Dollar series, which was minted from 1878 to 1904, and then again in 1921. This series was named after its designer, George T. Morgan and it featured Lady Liberty on the front and a flying eagle on the back.
Due to its established popularity, the United States Mint produced the 1884 silver dollars at four locations, with the total mintage surpassing 28 million coins. Despite this, the 1884 Morgan Dollar is rare and quite popular among collectors, thanks to the varieties of mint marks, and the existence of interesting VAMs and errors.
| 1884 Morgan Silver Dollar | Key Facts |
| Material Composition | 90% Silver, 10% Copper |
| Minting Location | Philadelphia, Carson City, New Orleans, & San Francisco |
| Year of Minting | 1884 |
| Face Value | $1.00 |
| Weight | 26.73 grams |
| Actual Silver Content | 0.7734 oz |
| Diameter | 38.1mm |
| Thickness | 2.4mm |
| Designer | George T. Morgan |
| Mint Marks | ‘CC’ – Carson City, ‘O’ – New Orleans & ‘S’ – San Francisco |
| Total Mintage | 28,136,000 coins |
Identifying an 1884 Morgan Dollar (Design & Features)
Before you begin assessing your 1884 silver Morgan Dollar’s value, verify its design, composition, and other features to ensure it’s a genuine coin and not a counterfeit.
1884 Morgan Dollar Obverse:
- Left-facing bust of Liberty Lady with a Phrygian cap adorned with wheat and cotton
- “LIBERTY” on a ribbon in Liberty’s hair
- “E PLURIBUS UNUM” above Liberty’s head
- 13 stars surrounding the portrait, representing the original colonies
- The mint date “1884” below Liberty’s neck
- The designer’s initial “M” on Liberty’s neckline
1884 Morgan Dollar Reverse:
- A heraldic eagle with spread-out wings
- Arrows and an olive branch in eagle’s claws
- “UNITED STATES OF AMERICA” along the upper edge
- “ONE DOLLAR” inscribed below the eagle
- The motto “IN GOD WE TRUST” above the eagle’s head
- A laurel wreath encircling the lower half of the design
Coin Composition and Dimensions
The 1884 Morgan dollar followed the traditional silver composition of 90% silver and 10% copper, giving it its iconic silvery gray luster. This composition remained in use until 1904.
Weighing in at approximately 26.73 grams, this silver eagle dollar coin has a diameter of 38.1 mm or 1.5 inches and a thickness of 2.4 mm. The coin’s edge is reeded, featuring a series of ridges that add to its distinctive look.
Assessing an 1884 Silver Dollar Value (4 Key Factors)
| Coin Grades | Condition Details | 1884 No Mint Mark Dollar Value | 1884 O Silver Dollar Value | 1884 CC Silver Dollar Value | 1884 S Silver Dollar Value |
| Poor (0) to Extremely Fine (XF45) | Significant wear, faded but visible details | $40 – $50 | $30 – $40 | $70 – $120 | $30 – $290 |
| Almost Uncirculated (AU50) to Mint State (MS60) | Slight wear on highest points, visible marks or blemishes | $50 – $80 | $40 – $75 | $125 – $200 | $320 – $13,200 |
| Mint State (MS61 – MS64) | Uncirculated with minimal wear | $55 – $180 | $80 – $160+ | $250 – $570 | $9,000 – $156,000 |
| Mint State (MS65 – MS66+) | Nearly flawless with very minor imperfections | $200 – $1,500 | $200 – $700+ | $500 – $2,400+ | $150,000 |
| Mint State (MS67 – MS67+) | Well-preserved with no major flaws | $2,160 – $10,575 | $1,500 – $5,520 | $3,300 – $26,400+ | $735,000 |
| Mint State (MS68 or Above) | Nearly perfect, luster, no major marks or flaws | $11,500 – $66,000+ | N/A | $57,500 – $85,188 | $750,000 |
The key factors influencing an 1884 silver Morgan dollar value include its coin grades, mint marks, mintage, rare minting errors, and any unique characteristics it may possess.
1. Coin Condition & Grades
Higher-grade 1884 silver dollar coins are rarer and more sought after by collectors, escalating their value. For example, An MS68 1884 $1 (No Mint Mark) sold for a staggering price of $66,000 in a coin auction, while the same coin is valued at around $250 in MS65 grade and around $50-$80 in MS62 grade.
2. Mint Marks & Mintage
The total mintage (production) of a coin decides how rare and valuable it is. The 1884 Morgan Dollar was minted at three facilities; each produced varying quantities, affecting their rarity and value.
1884 No Mint Mark Silver Dollar Value (Mintage – 14,070,000)
The Philadelphia Mint produced the most Morgan silver dollars in 1884 with no mint mark, making them the most common of all. While a circulated 1884 no mint mark dollar is worth $40-$50, MS60-MS65 mint state coin can reach $50 to $450, while higher grades can fetch $500 to $66,000 or more.
Proof-like or PL 1884 no mint mark silver dollars are worth $85-$750 in MS60-MS65 grades, with MS67 and higher grades reaching up to $15,600. In contrast, Deep Mirror Proof-like or DMPL coins can fetch almost $8,000 in MS66 grade.
1884 O Morgan Dollar Value (Mintage – 9,730,000)
The 1884 dollars produced at the New Orleans Mint bear a small O mint mark on the reverse. Circulated examples of an 1884 O silver dollar typically range from about $30 to $70, while MS65 examples can command prices around $150 to $350. MS67 and above grades are valued at $1,500 to $12,500!
As for the PL variety, the coin values range from $80 to $7,800, depending on the grades. The value of the DMPL variety ranges from $80 to $9,000 in MS60 to MS66+ grades, while MS67 and higher grades can be worth $16,000 to $32,000!
1884 S Morgan Dollar Value (Mintage – 3,200,000)
The San Francisco Mint released about 3.2 silver dollars, identified by the S mint mark. The value of circulated 1884 S dollar coins can range from about $50 to $5,000, while those in the mint state can fetch $6,000 to $110,000, with MS65 and higher examples reaching above $150,000.
The record price of an 1884 S Morgan Dollar in MS68 grade reached a whopping $175,000, released at Stack’s Bowers auction!
1884 CC Morgan Dollar Value (Mintage – 1,136,000)
Carson City produced over 1.1 million dollar coins with a CC mint mark. The most valuable of all, in circulated conditions, an 1884 CC silver dollar is worth $70 to $300. MS60-MS63 examples range from are worth $50-$320 and MS64-MS65 can fetch $350-$700. MS67 and higher examples are valued at $3,000-$85,000 or more.
The Prooflike (PL) 1884 CC Morgan Dollars in MS60-PL to MS65-MS67PL can range from $200 to $10,000. As for Deep Mirror Prooflike (DMPL) examples, MS60-MS65 are valued at $250-$3,800, while MS66 and above grades can reach up to $40,000. Surprisingly, an 1884 CC $1 DMPL coin in PR66 grade sold for $184,000 on Heritage Auctions!
3. 1884 Silver Dollar Proof Coins
Apart from regular strikes, the Philadelphia Mint also produced around 875 proof dollar coins in 1884. While these coins also don’t bear any specific mint mark, they can be identified by their sharp details and reflective proof finish.
Based on the finish, there are three designations for proof coins:
Standard Proof (PR)
Characterized by their polished, mirror-like surfaces and exceptional detail. The average value of an 1884 silver dollar proof can range from $950 to $10,000 in PR55 to PR65 grades. PR66 and higher grades can reach $11,000 to $45,000.
But this is not the highest 1884 $1 proof coin sold! In 2013, a PR66 example sold for an eye-popping price of $176,250 on Heritage Auctions!
Here’s a quick list of average values of standard 1884 proof dollar coins:
- PR60-PR62: $1,000 – $2,640
- PR63-PR64: $2,500 – $4,935
- PR65-PR66: $3,700 – $15,275
- PR67-PR68: $7,000 – $44,850
1884 $1 Cameo Proof
Cameo proof coins feature a sharp contrast between the pronounced frost on Liberty’s portrait and the eagle on the reverse and the reflective fields. These coins are even more sought after, with average values typically ranging from $5,000 to $10,000.
- PR60-PR62: $1,680 – $2,530
- PR63-PR64: $2,500 – $5,280
- PR65-PR66: $5,300 – $16,800
- PR67-PR68: $8,400 – $32,900
1884 $1 Deep Cameo Proof
These proof coins have an even sharper contrast, making them extremely rarer and more valuable. Deep Cameo 1884 Morgan Dollar proof coins can fetch up to $15,000 for PR65 grades and up to $75,000 for a PR68 example, like this one that sold on Bowers & Merena for $74,750!
Here are the examples of prices released for DCAM 1884 Morgan dollar proof coins:
- PR65: $14,950
- PR66: $20,700
- PR67: $28,200
- PR68: $30,000 – $74,750
4. Valuable 1884 Silver Dollar Errors & VAMs
While not many VAMs and minting errors are known to be found on an 1884 silver coin, some rare ones can be highly collectible.
Rim Clipped Planchet
This error happens when a part of an 1884 silver eagle dollar gets clipped in the die, creating a crescent clip at the rim. This error can be found in circulation as well as proof coins and can significantly increase the coin’s value.
For example, a PR65 1884 $1 Cameo coin with a Rim Clipped Planchet at 2 ‘o’clock and 4 o’clock sold for almost $6,040 at Heritage Auctions!
VAM 6 O/O
This variety, also known as the “Doubled Mint Mark,” can be identified by the doubling of the ‘O’ mint mark on the reverse. For example, this 1884-O/O $1 VAM-6 MS67+ that sold for $1,680 features the signs of a second “O” both inside and to the lower left outside the mintmark!
Apart from these, you may also find errors such as VAM 3, VAM 4, off-center strikes, double die errors, cud errors, and double strike errors, on an 1884 silver dollar that can increase its average value.
How to Know If Your 1884 Morgan Dollar Is Silver?
Before selling or buying an 1884 dollar silver coin, follow these steps to ensure it’s real silver:
- Check for the weight: It should weigh approximately 26.73 grams.
- Examine the edge: It should be reeded with uniform grooves.
- Examine the color: Silver should have a shiny, warm white appearance.
- Use a magnet: Silver is not magnetic; if your coin sticks to a magnet, it’s likely not silver.
