1893-S Morgan Dollar Value
A 1893-S Morgan Dollar is worth roughly $2,400 to $850,000 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.
1893-S Morgan Dollar value by grade
| Grade | Estimated value |
|---|---|
| Melt value floor(metal content, 2026-06-01) | $28.23 |
| Good (G-4) | $2,400 to $3,200verified |
| Very Good (VG-8) | $3,200 to $4,500verified |
| Fine (F-12) | $4,500 to $6,500verified |
| Very Fine (VF-20) | $7,500 to $11,000verified |
| Extremely Fine (XF-40) | $16,000 to $24,000verified |
| About Uncirculated (AU-50) | $35,000 to $55,000verified |
| Mint State (MS-60) | $110,000 to $160,000verified |
| Choice Unc (MS-63) | $220,000 to $320,000verified |
| Gem Unc (MS-65) | $600,000 to $850,000verified |
Estimated retail range, updated 2026-06-15. Rows marked verified reflect dealer retail listings; the rest are model estimates from mintage rarity and metal content. Actual sale prices vary with certification, eye appeal and market timing.
How much is a 1893-S Morgan Dollar worth today?
At the entry level, well-worn examples bring about $2,400. The same coin in gem uncirculated condition is a $850,000 coin. Grade is everything: two examples of the 1893-S Morgan Dollar can differ in price by an order of magnitude based purely on preservation.
1893-S Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1893
- Mint mark
- S
- Mintage
- 100,000
- 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 1893 Morgan Dollar?
On a 1893-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 collectors pay for in a 1893-S Morgan Dollar
Only 100,000 pieces left the San Francisco Mint, which makes this THE stopper for many Morgan Dollar collectors. Key-date status means even heavily worn examples carry strong premiums.
The 90% silver composition gives a 1893-S Morgan Dollar 0.7734 oz of precious metal ($28.23 at current spot). Bullion demand alone supports the bottom of its price range.
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. For the 1893-S Morgan Dollar, the enduring popularity of the series translates directly into buyers in every grade and every market cycle.
Summary: the 1893-S Morgan Dollar is valued between $2,400 and $850,000 as of 2026-06-15. Estimates combine mintage rarity, key-date status and metal content; they are editorial guidance, not an offer to buy.