1894-O Morgan Dollar Value
Depending on how well it survived, a 1894-O Morgan Dollar brings anywhere from $31.00 to $706, while the raw metal inside it is valued at $28.23 as of 2026-06-01 Certified examples in top grades can run far higher.
1894-O Morgan Dollar value by grade
| Grade | Estimated value |
|---|---|
| Melt value floor(metal content, 2026-06-01) | $28.23 |
| Good (G-4) | $31.00 to $46.00 |
| Very Good (VG-8) | $35.00 to $51.00 |
| Fine (F-12) | $39.50 to $58.00 |
| Very Fine (VF-20) | $47.00 to $69.00 |
| Extremely Fine (XF-40) | $60.00 to $88.00 |
| About Uncirculated (AU-50) | $81.50 to $120 |
| Mint State (MS-60) | $120 to $176 |
| Choice Unc (MS-63) | $192 to $282 |
| Gem Unc (MS-65) | $480 to $706 |
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 1894-O Morgan Dollar worth today?
Figure roughly $31.00 as the realistic floor for a damage-free, well-worn 1894-O Morgan Dollar, rising steadily through the grades to about $706 for a certified gem. Cleaned or damaged coins trade below these figures, though never below the $28.23 melt floor.
1894-O Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1894
- Mint mark
- O
- Mintage
- 1,723,000
- 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 1894-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 1894 from a different mint can be worth a very different amount.
The value drivers behind this coin
Beneath the numismatics of the 1894-O 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.
A mintage of 1,723,000 makes the 1894-O Morgan Dollar moderately available, though it is noticeably tougher than the bulk dates of the series, particularly in higher grades.
There is history in a 1894 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 1894-O Morgan Dollar is valued between $31.00 and $706 as of 2026-06-15. Estimates combine mintage rarity, key-date status and metal content; they are editorial guidance, not an offer to buy.