1881-O Morgan Dollar Value
A 1881-O 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 Certified examples in top grades can run far higher.
1881-O 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 1881-O Morgan Dollar worth today?
A 1881-O Morgan Dollar that spent decades in circulation is worth about $29.00 today. One that never circulated at all can bring up to $282. The honest answer for most inherited or pocket-found examples sits in the lower half of the table.
1881-O Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1881
- Mint mark
- O
- Mintage
- 5,708,000
- 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).
How to find the O mint mark
Identifying a 1881-O Morgan Dollar hinges on one small letter: the "O" of New Orleans. On the reverse, just below the wreath bow and above the letters DO in DOLLAR Verify it before pricing the coin, because a 1881 from a different mint can be worth a very different amount.
What collectors pay for in a 1881-O Morgan Dollar
With 5,708,000 struck, the 1881-O Morgan Dollar is one of the more available dates of its series. Its value rests on metal content and condition rather than absolute rarity, which makes it an ideal type coin.
Every 1881-O 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 1881 Morgan Dollar as well. It owes its existence to the Bland-Allison Act of 1878, which required the Treasury to purchase millions of ounces of silver each month from Western mining interests and coin it into dollars. That backdrop keeps the series among the most actively collected in American numismatics.
Summary: the 1881-O 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.