The 1894 Morgan silver dollars have value as both numismatic coins and as silver bullion. Keep reading to learn more about these coins.
Specifications
Type: Morgan Silver Dollar
Year: 1894
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .77344 oz.
Total Weight: 26.73 grams
Current Silver Bullion Value: $21.15
The US minted the 1894 silver dollar with no mint mark and also the 1894 O silver dollar and 1894 S silver dollar. The mint mark, when present, can be found on the reverse side of the coin below the wreath.
| Series | Location | Quantity Minted |
|---|---|---|
| 1894 | Philadelphia | 110,000 |
| 1894 O | New Orleans | 1,723,000 |
| 1894 S | San Francisco | 1,260,000 |
Value
This coin in circulated condition is worth at least its weight in silver. The silver melt value for this coin is $21.15. This melt value is calculated from the current silver spot price of $27.34 per ounce.
The 1894 silver dollar with no mint mark is worth around $950 in very fine condition. In extremely fine condition the value is around $1,200. In uncirculated condition the price is around $3,850 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $35,000. It's important to note that for this coin, you should be aware of altered mintmarks. It's best to get this coin authenticated.
The 1894 O silver dollar is worth around $60 in very fine condition. In extremely fine condition the value is around $140. In uncirculated condition the price is around $2,250 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $45,000.
The 1894 S silver dollar is worth around $130 in very fine condition. In extremely fine condition the value is around $285. In uncirculated condition the price is around $1,250 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $6,000.
Proof coins with no mint mark are available and they are each valued at around $4,000 in PR 63 condition. There were only 972 proof coins minted.
Grading System
Very fine- Two thirds of Liberty's hair lines from above her forehead to her ear are visible.
Extremely fine- Liberty's hair lines and ear look strong.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
MS 65 gem uncirculated- There is strong luster and eye appeal. A few light contact marks are present but they are barely noticeable.
PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. There are no major flaws.
Sources:
The Red Book
See also: