Lot 060Coin values

1893-S Morgan Dollar

Q: How much is a 1893-S Morgan Dollar worth?

Lustre's editorial estimate (Oct 2026) is $2,850–$17,000 for circulated examples (G-4 to EF-40) and $535,000–$765,000 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.

SAN FRANCISCO (S) · 90% SILVER, 10% COPPER · 100,000 STRUCK

The answer

Worth about $2,850⁠–⁠$17,000 circulated and $535,000⁠–⁠$765,000 in MS-65.

The 1893-S Morgan Dollar is one of the major rarities of the series from the San Francisco Mint, with 100,000 pieces struck. In circulated grades (G-4 to EF-40) our estimate is $2,850⁠–⁠$17,000, and a well-preserved MS-65 example is estimated at $535,000⁠–⁠$765,000. Because this is a key date, condition and authenticity matter far more than metal content: have any high-value coin graded by a recognised service.

The key date of the series. Only 100,000 were struck, most circulated heavily, and Mint State examples are great rarities.

1893-S Morgan dollar obverse, worn, date 1893 visible — Obverse

1893-S Morgan dollar reverse: eagle inside a wreath — Reverse

View in 3D, coming soon Photograph of this exact date and mint

Photograph: 1893-S Morgan dollar (photograph by Bruxton). Public domain, credit Bruxton, via Wikimedia Commons. Wear, luster and color on your coin will differ.

Mint: San Francisco (S)
Composition: 90% silver, 10% copper
Mintage: 100,000
Weight and size: 26.73 g · 38.1 mm
Designer: George T. Morgan

RarityMajor rarity

PlentifulRare

Scarcer than 99% of the 96 issues in the Morgan series with a recorded mintage. 100,000 struck. Mintage is the number struck, not the number that survive.

Grade & value

Circulated$2,850–$17,000

Melt, live$46.81

Estimated value by grade for the 1893-S Morgan Dollar. Lustre editorial estimate, Oct 2026.
Grade	Estimate
G-4Good	$2,850–$4,150
VG-8Very Good	$3,550–$5,000
F-12Fine	$4,750–$6,750
VF-20Very Fine	$7,250–$10,500
EF-40Extremely Fine	$12,000–$17,000
AU-50About Uncirculated	$23,000–$33,000
AU-58Choice About Uncirculated	$43,000–$61,000
MS-60Mint State 60	$70,000–$100,000
MS-63Choice Mint State	$145,000–$205,000
MS-65Gem Mint State	$535,000–$765,000

Melt value (silver)$46.81

0.7735 troy oz of silver at the spot price. Reference prices, not live

Scan your coin

Estimates. Grade values are Lustre editorial estimate, Oct 2026, based on spot prices near $61 per ounce for silver. They are not market data, an appraisal or an offer. Rows marked at melt follow the metal price.

Value ladder

Varieties to look for

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.

Questions

About the 1893-S Morgan

How much is a 1893-S Morgan Dollar worth?

Lustre's editorial estimate (Oct 2026) is $2,850⁠–⁠$17,000 for circulated examples (G-4 to EF-40) and $535,000⁠–⁠$765,000 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 1893-S 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 1893-S Morgan Dollars were minted?

100,000 were struck at the San Francisco 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 1893-S Morgan Dollar rare?

Yes. It is one of the major rarities of the series. Check the variety notes on this page, look at the date and mint mark under magnification and consider professional grading before selling.

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