1878 Morgan Dollar Value
A 1878 Morgan Dollar is worth roughly $29.00 to $282 depending on its condition, and its metal content alone is worth $28.23 as of 2026-06-01 Where your coin lands depends on wear, strike and surface quality.
Public domain image (struck or printed before 1926). Click to enlarge.
1878 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.
How much is a 1878 Morgan Dollar worth today?
In worn but collectible condition (Good-4), a 1878 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 Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1878
- Mint mark
- None (Philadelphia)
- Mintage
- 10,508,800
- 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).
Why this coin has no mint mark
The 1878 Morgan Dollar was struck at the Philadelphia Mint, which used no mint mark in this era. If you find no letter where branch-mint coins carry one (On the reverse, just below the wreath bow and above the letters DO in DOLLAR), you are holding a Philadelphia issue.
What makes the 1878 Morgan Dollar valuable
A large mintage of 10,508,800 means this issue is common in circulated grades. The interesting money starts in Mint State, where quality, not quantity, sets the price.
Every 1878 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. Hundreds of millions sat in Treasury vaults for decades, which is why many dates survive in gem Mint State, while issues that actually circulated, such as the 1893-S and 1889-CC, became celebrated rarities. That backdrop keeps the series among the most actively collected in American numismatics.
1878 Morgan Dollar inscriptions & design
Obverse
******* E.PLURIBUS.UNUM ****** 1878
Liberty, head l.
Reverse
UNITED STATES OF AMERICA/* ONE DOLLAR *
eagle standing. on arrows and laurel sprig., within wreath. motto above
Measured 1878 Morgan Dollar specimens
9 physically measured 1878 Morgan Dollar examples in our reference database. Real measured weights and die axes let you authenticate a coin against the 26.73 g, 38.1 mm minting standard.
| Specimen | Weight | Diameter | Die axis | References |
|---|---|---|---|---|
| 1878 Morgan Dollar #1 | 26.689 g | - | - | Breen.5513 |
| 1878 Morgan Dollar #2 | - | - | - | Breen.5518 |
| 1878 Morgan Dollar #3 | - | - | - | Breen.5500 |
| 1878 Morgan Dollar #4 | - | - | - | Breen.5521 |
| 1878 Morgan Dollar #5 | - | - | - | Breen.5518 |
| 1878 Morgan Dollar #6 | - | - | - | Breen.5500 |
| 1878 Morgan Dollar #7 | - | 38 mm | - | Breen.5514 |
| 1878 Morgan Dollar #8 | 19.942 g | - | 6 h | - |
| 1878 Morgan Dollar #9 | 18.971 g | - | 6 h | - |
Specifications compiled from documented museum specimens. See our data & methodology page.
Summary: the 1878 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.