1881-S Morgan Dollar Value
Depending on how well it survived, a 1881-S Morgan Dollar brings anywhere from $29.00 to $282, and its metal content alone is worth $28.23 as of 2026-06-01 Certified examples in top grades can run far higher.
1881-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.
How much is a 1881-S Morgan Dollar worth today?
In worn but collectible condition (Good-4), a 1881-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.
1881-S Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1881
- Mint mark
- S
- Mintage
- 12,760,000
- 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 1881 Morgan Dollar?
On a 1881-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.
What makes the 1881-S Morgan Dollar valuable
12,760,000 pieces left the presses, so survivors remain plentiful. Pricing tracks bullion and grade, with gems carrying the only substantial premiums.
The 90% silver composition gives a 1881-S Morgan Dollar 0.7734 oz of precious metal ($28.23 at current spot). Bullion demand alone supports the bottom of its price range.
There is history in a 1881 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.
Summary: the 1881-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.