1889-S Morgan Dollar Value
Depending on how well it survived, a 1889-S Morgan Dollar brings anywhere from $53.00 to $2,470; the melt floor under every example is $28.23 (spot prices as of 2026-06-01) The figures below break the range down grade by grade.
1889-S Morgan Dollar value by grade
| Grade | Estimated value |
|---|---|
| Melt value floor(metal content, 2026-06-01) | $28.23 |
| Good (G-4) | $53.00 to $77.50 |
| Very Good (VG-8) | $67.00 to $99.00 |
| Fine (F-12) | $86.50 to $127 |
| Very Fine (VF-20) | $120 to $176 |
| Extremely Fine (XF-40) | $180 to $265 |
| About Uncirculated (AU-50) | $264 to $388 |
| Mint State (MS-60) | $408 to $600 |
| Choice Unc (MS-63) | $720 to $1,059 |
| Gem Unc (MS-65) | $1,680 to $2,470 |
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 1889-S Morgan Dollar worth today?
In worn but collectible condition (Good-4), a 1889-S Morgan Dollar starts around $53.00. From there, value climbs with every grade step: a gem Mint State example (MS-65) can reach $2,470. Most coins found in old collections fall somewhere between Very Fine and About Uncirculated, the middle rows of the table above.
1889-S Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1889
- Mint mark
- S
- Mintage
- 700,000
- 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 S mint mark
On a 1889-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 1889-S Morgan Dollar valuable
Every 1889-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.
With 700,000 pieces coined, supply is thin enough that collectors pay up for quality. Worn examples remain accessible; choice ones are a different conversation.
There is history in a 1889 Morgan Dollar as well. Morgan, recruited from the Royal Mint in London, modeled Liberty on Philadelphia schoolteacher Anna Willess Williams rather than the conventional Greek profile. That backdrop keeps the series among the most actively collected in American numismatics.
Summary: the 1889-S Morgan Dollar is valued between $53.00 and $2,470 as of 2026-06-15. Estimates combine mintage rarity, key-date status and metal content; they are editorial guidance, not an offer to buy.