Got an old 1900 Morgan Silver Dollar tucked away in your coin collection? You might be sitting on a real treasure – like the stunning MS65+ DMPL that fetched an incredible $67,500 at a coin auction!
Whether it has an O, S, or no mint mark, your Morgan dollar could be worth far more than you think. From assessing its condition to identifying error coins, this guide will help you understand what makes your 1900 Morgan special and reveal its true value.
As of the time of writing, an old 1900 Morgan Dollar in average circulated condition might be valued around $20-$30 (more than melt value), whereas uncirculated coins in high grades can fetch extremely high prices of up to $67,000 or more!
Interesting History of 1900 Morgan Dollar
The Morgan dollar was created following the Bland-Allison Act of 1878, which mandated the U.S. Treasury to purchase large quantities of silver to mint silver dollars.
The 1900 issue is a significant part of the dollar series with over 24.9 million coins, making it one of the highest mintage years for this series. This year marked a peak in production before a decline that would follow in subsequent years.
This, in addition to its unique mint marks and rare errors, make a 1900 Morgan dollar highly collectible coin, fetching extraordinary prices from coin collectors!
| 1900 Morgan Silver Dollar | Key Facts |
| Material Composition | 90% Silver, 10% Copper |
| Minting Location | Philadelphia, New Orleans, & San Francisco |
| Year of Minting | 1900 |
| 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 | No Mint Mark – Philadelphia O – New Orleans S – San Francisco |
| Total Mintage | 24,960,000 coins |
Identifying an Old 1900 Dollar Silver Coin (Design & Physical Features)
Before assessing a 1900 Morgan Dollar value, it’s crucial to identify its distinctive design and other unique physical characteristics impacting its authenticity, rarity, and value:
1900 Morgan Dollar Obverse:
- A left-facing portrait of Lady Liberty with flowing hair
- A Phrygian (conical) cap on Liberty’s head
- “1900” below the profile or the truncation line
- Arranged flowers and the word “LIBERTY” on the lady’s cap
- 13 stars (representing the thirteen US states) around the coin’s edge
- “E PLURIBUS UNUM” on the upper edge
1900 Morgan Dollar Reverse:
- A bald eagle mid-flight with wide wings a left-facing head
- A group of arrows in its left claw and an olive branch in the right
- “UNITED STATES OF AMERICA” on the upper edge
- “IN GOD WE TRUST” above the eagle’s motif
- The denomination “One Dollar” on the bottom
- A laurel vine around the eagle
- The mint mark, if present, below the laurel vine
Coin Composition & Dimensions
Following the first coins, the 1900 Morgan Dollar is also composed of 90% silver and 10% copper, giving it its iconic warm gray lustrous finish. The dollar coin weighs around 26.73 grams and has a diameter of 38.1 mm and a thickness of 2.4 mm.
Besides, the coin has a well-reeded edge with a uniform reeding, a distinctive feature of the coin. Understanding these specifications is crucial for collectors to verify if the Morgan dollar coin is genuine or fake!
5 to Factors to Assessing a 1900 Morgan Dollar Value
| Coin Grades | Condition Details | 1900 No Mint Mark Dollar Value | 1900 O Morgan Dollar Value | 1900 S Silver Dollar Value |
| Poor (0) to Extremely Fine (XF45) | Significant wear, faded but visible details | $25 – $55 | $25 – $40 | $40 – $60 |
| Almost Uncirculated (AU50) to Mint State (MS60) | Slight wear on highest points, visible marks or blemishes | $50 – $75 | $30 – $40 | $55 – $250 |
| Mint State (MS61 – MS64) | Uncirculated with minimal wear | $35 – $130 | $45 – $150+ | $350 – $1,200 |
| Mint State (MS65 – MS66+) | Nearly flawless with very minor imperfections | $180 – $1,500 | $160 – $1,000+ | $1,000 – $7,200 |
| Mint State (MS67 – MS67+) | Well-preserved with no major flaws | $2,360 – $45,600 | $2,000 – $10,000 | $10,300 – $40,000+ |
| Mint State (MS68 or Above) | Nearly perfect, luster, no major marks or flaws | N/A | N/A | N/A |
The final value of a 1900 Morgan silver dollar is greatly influenced by several factors, including its condition, different mint marks, coin finish, and rare errors. Let’s understand what value difference each factor creates:
1. Coin Grades & Condition
A coin’s value largely depends on its condition, which is assessed on a grading scale from PO-1 to MS-70. Here, lower grades indicate poor condition and lower value and higher numbers reflect exceptional quality and higher value of thousands!
For example, an MS-63 sold for $175, while the same Morgan dollar in MS-67 grade with an exceptional eye appeal brought $45,600 via Stack’s Bowers auction. The four-point grade difference resulted in a nearly $45,500 value increase!
2. 1900 Morgan Dollar Mint Marks & Mintage
The total mintage of the 1900 silver dollar is approximately 24.9 million coins, but the mint mark on coins produced at different locations can greatly affect rarity and value.
The 1900 Morgan Dollars were produced at three different mints: Philadelphia, New Orleans, and San Francisco.
1900 No Mint Mark Silver Dollar Value (Mintage – 8,830,000)
The Philadelphia Mint produced the highest number of silver eagle dollars, making them the most common. Nonetheless, a 1900 no mint mark Morgan dollar is worth $25 to $60, but can be valuable in higher grades; MS65 examples can reach values around $180 to $350, while MS67 coins may go for over $45,600.
The Prooflike version of a 1900 no mint mark dollar can be valued at $380-$5,000 in MS62-MS65 grades, with MS6 grades reaching up to $7,500. In contrast, Deep Mirror Prooflike or DMPL dollar coins fetch $8,000-$65,500 in MS65 and MS65+ grades.
The most expensive 1900 no mint mark coin ever sold is an MS65+ example of a DMPL coin, valued at $67,562 at Legend Rare Coin Auctions!
1900 O Morgan Silver Dollar Value (Mintage – 12,590,000)
Although the New Orleans Mint produced fewer silver dollars than the Philadelphia Mint, the 1900-O silver dollars are less valuable than no mint mark coins. The VF examples start at $35, with MS-60 to MS-63 ranging from $30-$120. MS-64 to MS-66 pieces bring $150-$1,000, while MS-67 examples can reach $2,000-$9,600 or more!
Prooflike 1900-O Morgan dollars carry a 15-25% premium with values ranging from $120 to $5,500 in MS-60 to MS-67. DMPL examples are valued at $250-350 in MS-63, $450-600 in MS-64, and $2,200-$10,500 in MS-65 or higher grades.
1900 S Morgan Dollar Value (Mintage – 3,540,000)
The San Francisco Mint released the lowest number of Morgan dollars, making the S mint mark coins the rarest and most collectible. The value of a 1900-S silver dollar starts at $40-60 in VF condition. MS-60 to MS-63 grades command $250-$950, while MS-64 to MS-65 pieces bring $950-$7,200. MS-67 coins can reach $10,000 to $40,000!
Prooflike 1900-S Morgan dollars are even more valuable with MS-67 examples fetching $32,000-$49,000 or more! MS-65 to MS-66 grades are worth $2,000-$4,500, while MS-63 and lower grades fetch $250-$780!
Even more sought after than PL coins, DMPL 1900-S Morgan dollars in MS-63 DMPL grades are valued at $500-700, MS-63 DMPL at $2,000-$9,500, and MS-64 to MS-65 DMPL commanding $4,000-$14,500 or more!
3. 1900 Morgan Silver Dollar Proof Strike
In addition to the business coins, the Philadelphia Mint produced 912 1900 Morgan dollars. These coins don’t have any mint marks but feature a reflective proof finish and sharp details that distinguish them from regular strikes.
Based on the finish, there are three designations for proof coins:
Standard Proof (PR)
These proof coins have a regular proof finish but a sharp, mirror-like surface without any contrast. It’s worth around $600-$1,200 in circulated state. PR-61 to PR-64 examples can fetch $1,500 to $5,000 and PR65 to PR67 grades can reach $5,000 to $27,000! PR68 examples are the most valuable, fetching up to $32,500!
1900 $1 Cameo Proof
These coins are identified by a unique contrast between the frosted raised designs (Liberty and eagle) and the reflective backgrounds. The average value of 1900 Cameo proof dollar coins is $2,700-$35,000!
- PR63-PR64: $2,700 – $4,800
- PR65-PR66: $4,500 – $10,500
- PR67-PR67+: $9,500 – $15,000
- PR68: $20,000 – $34,800
1900 $1 Deep Cameo Proof
Deep Cameo proof coins exhibit a sharper contrast between devices and reflective fields. Most valuable of all, DCAM 1900 Morgan Dollar proof coins can fetch up to $10,000 for PR65 grades and up to $52,000 for a PR67 example, like this one that sold on Legend Rare Coin Auctions for $52,875!
Here are the examples of prices released for DCAM 1990 dollar proof coins:
- PR65: $14,950
- PR66: $20,700
- PR67: $28,200
- PR68: $30,000 – $74,750
4. Rare 1900 Morgan Silver Dollar Errors
Certain mint errors can also dramatically increase your 1900 silver dollar value due to their rarity:
1900-O/CC Overmintmark
This is a rare minting error on a 1900-O Morgan silver dollar in which the O mint mark overstruck on a CC mint mark. Such error coins are extremely rare, with circulated examples fetching $60-$450.
Uncirculated error coins in MS-61 to MS-64 grades can fetch $450-$1,950, while those in MS-65 to MS-66 grades can reach $1,800-$9,500. The highest-graded, MS-67 1900-O/CC Morgan dollars can fetch $25,500 to $52,000, as this example sold for $52,875 on Legend Rare Coin Auctions!
Partial Collar
This error occurs when the coin collar (the piece that forms the rim) fails to fully rise into position during striking. The result is a portion of the rim on a 1900 silver dollar to get flattened, unstruck, or missing reeding.
The value of a 1900 Morgan Dollar with partial collar errors typically ranges from $100-$200 in circulated conditions. Uncirculated examples can fetch $300-$1,000 or more, like this M-65 example that brought over $410 in a coin auction!
Misaligned Obverse Die
This striking error occurs when the obverse (front) die is not properly aligned with the reverse die, resulting in a design that is shifted relative to the rim.
Generally, a 1900 silver dollar with a misaligned die is valued at $50 to $150 in circulated condition, like this F-15 example sold for $94 on Heritage Auctions! Uncirculated error coins in high grades with major misalignment can fetch $200-$1,500 or more!
Unlike common old coins, 1990 silver dollars are highly valuable. But they can fetch even higher returns if they exhibit rare features as listed in this guide! So, make sure to analyze your coin precisely to find its best value!
