1891 Morgan Dollar Value
A 1891 Morgan Dollar is worth roughly $29.00 to $282 depending on its condition, with a hard melt-value floor of $28.23 as of 2026-06-01 Certified examples in top grades can run far higher.
Public domain image (struck or printed before 1926). Click to enlarge.
1891 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 1891 Morgan Dollar worth right now?
Start with $29.00 for a heavily circulated 1891 Morgan Dollar and work upward. Lightly circulated 1891 examples occupy the middle of the range, while true gems approach $282. If your coin has no wear on the high points, it deserves a closer look or a professional opinion.
1891 Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1891
- Mint mark
- None (Philadelphia)
- Mintage
- 8,693,556
- 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
Philadelphia struck the 1891 Morgan Dollar, and Philadelphia coins of this period carry no mint mark at all. An empty space at the usual mint mark position (On the reverse, just below the wreath bow and above the letters DO in DOLLAR) confirms a Philadelphia strike, not a flaw.
The value drivers behind this coin
With 8,693,556 struck, the 1891 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.
Beneath the numismatics of the 1891 Morgan Dollar sits 0.7734 troy ounces of silver, $28.23 worth at today's spot price. When silver rallies, even the most common dates of this series rise with it.
For collectors today, the series is a study in mint marks and condition: a common 1921 in worn grades trades near its silver melt value, while key dates in Mint State command five and six figures. For the 1891 Morgan Dollar, the enduring popularity of the series translates directly into buyers in every grade and every market cycle.
1891 Morgan Dollar inscriptions & design
Obverse
******* E.PLURIBUS.UNUM ****** 1891
Liberty, head l.
Reverse
UNITED STATES OF AMERICA/* ONE DOLLAR *
eagle standing. on arrows and laurel sprig., within wreath. motto above
Measured 1891 Morgan Dollar specimens
8 physically measured 1891 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 |
|---|---|---|---|---|
| 1891 Morgan Dollar #1 | - | - | - | Breen.5621 |
| 1891 Morgan Dollar #2 | - | - | - | Breen.5619 |
| 1891 Morgan Dollar #3 | - | - | - | Breen.5622 |
| 1891 Morgan Dollar #4 | - | - | - | Breen.5624 |
| 1891 Morgan Dollar #5 | - | - | - | Breen.5619 |
| 1891 Morgan Dollar #6 | - | - | - | Breen.5619 |
| 1891 Morgan Dollar #7 | - | - | - | Breen.5619 |
| 1891 Morgan Dollar #8 | 26.73 g | - | 6 h | Breen.5624 |
Specifications compiled from documented museum specimens. See our data & methodology page.
Summary: the 1891 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.