Lot 014Coin values
1881-O Morgan Dollar
NEW ORLEANS (O) · 90% SILVER, 10% COPPER · 5,708,000 STRUCK
Worth about $50–$60 circulated and $220–$300 in MS-65.
The 1881-O Morgan Dollar is a common date from the New Orleans Mint, with 5,708,000 pieces struck. In circulated grades (G-4 to EF-40) our estimate is $50–$60, and a well-preserved MS-65 example is estimated at $220–$300. Circulated coins of this date trade at or just above the value of their metal, so the live melt value on this page is the best guide to a worn coin.
1881-ONew Orleans (O)
Catalogue medallion. We do not yet hold a licensed photograph of this exact date and mint, so none is shown rather than one with a different date.
- Mint
- New Orleans (O)
- Composition
- 90% silver, 10% copper
- Mintage
- 5,708,000
- Weight and size
- 26.73 g · 38.1 mm
- Designer
- George T. Morgan
Among the more plentiful: 54% of issues in the series have a smaller mintage. 5,708,000 struck. Mintage is the number struck, not the number that survive.
Mint mark position
S, O, CC and D sit on the reverse below the wreath. Check the letter against the date: Carson City (CC) coins carry a premium in every grade.
Strike and surface
Look for full hair detail above Liberty's ear and sharp eagle breast feathers. Prooflike (PL) and deep mirror prooflike (DMPL) surfaces carry large premiums in Mint State.
Cleaning
Many Morgans have been cleaned or dipped. Hairlines and a dull, wiped look reduce value; original toning is generally preferred.
About the 1881-O Morgan
How much is a 1881-O Morgan Dollar worth?
Lustre's editorial estimate (Oct 2026) is $50–$60 for circulated examples (G-4 to EF-40) and $220–$300 in MS-65. These are estimates, not an appraisal or market data. A coin in the grade you hold may sell for less at a dealer, who needs a margin.
Is a 1881-O Morgan Dollar silver?
Yes. It is 90% silver, 10% copper and weighs 26.73 g, which is 0.7735 troy ounces of pure silver. Its melt value is that weight multiplied by the current silver spot price, shown live on this page.
How many 1881-O Morgan Dollars were minted?
5,708,000 were struck at the New Orleans Mint.
Where is the mint mark on a Morgan Dollar?
On the reverse, below the wreath and above the letters ONE. Philadelphia coins have no mint mark.
Is my 1881-O Morgan Dollar rare?
No. It is a common date. Its value depends mostly on grade, originality and, for silver coins, the melt value.
More Morgan Dollar values
Where these numbers come from
Morgan dollar, Wikipedia: mintage, composition, weight, diameter, edge, designer.
Morgan dollar mintage, Landofcoins.com: mintage by year and mint.
Lustre editorial grade-value estimates, Lustre: grade value ranges (estimates, not market data).
gold-api.com spot prices (reference level for estimates), gold-api.com: reference spot prices behind the estimates.
How the estimates are made. Facts reviewed Oct 2026.