1878-S Morgan Dollar Value
Depending on how well it survived, a 1878-S Morgan Dollar brings anywhere from $29.00 to $282, and its metal content alone is worth $28.23 as of 2026-06-01 See the grade table below for exactly where your coin falls.
1878-S Morgan Dollar value by grade
| Grade | Estimated value |
|---|---|
| Melt value floor(metal content, 2026-06-01) | $28.23 |
| Good (G-4) | $29.00 to $38.00 |
| Very Good (VG-8) | $29.00 to $39.50 |
| Fine (F-12) | $29.00 to $41.50 |
| Very Fine (VF-20) | $30.50 to $45.00 |
| Extremely Fine (XF-40) | $35.00 to $51.00 |
| About Uncirculated (AU-50) | $42.00 to $62.00 |
| Mint State (MS-60) | $53.00 to $77.50 |
| Choice Unc (MS-63) | $72.00 to $106 |
| Gem Unc (MS-65) | $192 to $282 |
Estimated retail range, updated 2026-06-15. Estimates are modeled from mintage rarity and metal content, not auction records. Actual sale prices vary with certification, eye appeal and market timing.
What is a 1878-S Morgan Dollar worth right now?
In worn but collectible condition (Good-4), a 1878-S Morgan Dollar starts around $29.00. From there, value climbs with every grade step: a gem Mint State example (MS-65) can reach $282. Most coins found in old collections fall somewhere between Very Fine and About Uncirculated, the middle rows of the table above.
1878-S Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1878
- Mint mark
- S
- Mintage
- 9,774,000
- Composition
- 90% silver, 10% copper
- Weight
- 26.73 g
- Diameter
- 38.1 mm
- Edge
- Reeded
- Designer
- George T. Morgan
- Silver content
- 0.77344 troy oz
Mintage figure: US Mint reports (approximate).
Where is the mint mark on a 1878 Morgan Dollar?
On a 1878-S Morgan Dollar, the "S" mint mark of the San Francisco Mint sits on the reverse, just below the wreath bow and above the letters DO in DOLLAR. A loupe helps: on worn examples the letter can fade into the surrounding devices.
Why the 1878-S Morgan Dollar is worth money
9,774,000 pieces left the presses, so survivors remain plentiful. Pricing tracks bullion and grade, with gems carrying the only substantial premiums.
Every 1878-S Morgan Dollar contains 0.7734 troy ounces of pure silver, currently worth $28.23. That intrinsic value is a hard floor under the price: no matter how worn the coin, the silver inside cannot be graded away.
There is history in a 1878 Morgan Dollar as well. The Morgan dollar is the most collected classic United States coin, struck from 1878 to 1904 and once more in 1921. That backdrop keeps the series among the most actively collected in American numismatics.
Summary: the 1878-S Morgan Dollar is valued between $29.00 and $282 as of 2026-06-15. Estimates combine mintage rarity, key-date status and metal content; they are editorial guidance, not an offer to buy.