The 1903 Morgan silver dollars have value as both numismatic coins and as silver bullion. Keep reading to learn more about these silver coins.

1903 Silver Dollar

Specifications

Type: Morgan Silver Dollar
Year: 1903
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .77344 oz.
Total Weight: 26.73 grams
Current Silver Bullion Value: $13.03

The US minted the 1903 silver dollar with no mint mark and also the 1903 O silver dollar and 1903 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
1903 Philadelphia 4,652,000
1903 O New Orleans 4,450,000
1903 S San Francisco 1,241,000

Value

This coin in circulated condition is worth at least its weight in silver. The silver melt value for this coin is $13.03 as of November 11, 2019. This melt value is calculated from the current silver spot price of $16.85 per ounce.

The 1903 silver dollar with no mint mark is worth around $50 in very fine condition. In extremely fine condition the value is around $53. In uncirculated condition the price is around $78 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $225.

The 1903 O silver dollar is worth around $350 in very fine condition. In extremely fine condition the value is around $375. In uncirculated condition the price is around $415 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $635.

The 1903 S silver dollar is worth around $275 in very fine condition. In extremely fine condition the value is around $375. In uncirculated condition the price is around $5,000 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $10,000.

Proof coins with no mint mark are available and they are each valued at around $3,000 in PR 63 condition. There were only 755 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:

1904 Silver Dollar
1902 Silver Dollar
1901 Silver Dollar