1894-S Morgan Dollar Value
Depending on how well it survived, a 1894-S Morgan Dollar brings anywhere from $53.00 to $2,470, and its metal content alone is worth $28.23 as of 2026-06-01 See the grade table below for exactly where your coin falls.
1894-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.
What is a 1894-S Morgan Dollar worth right now?
In worn but collectible condition (Good-4), a 1894-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.
1894-S Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1894
- Mint mark
- S
- Mintage
- 1,260,000
- 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 1894 Morgan Dollar?
To confirm your 1894 coin is the San Francisco issue, find the small "S". On the reverse, just below the wreath bow and above the letters DO in DOLLAR The mark is small, so tilt the coin under a light if it is not obvious.
Why the 1894-S Morgan Dollar is worth money
Every 1894-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.
A 1,260,000 mintage lands this issue in semi-key territory. Expect a meaningful premium over common dates of the Morgan Dollar series at every grade level.
There is history in a 1894 Morgan Dollar as well. The Pittman Act of 1918 melted over 270 million pieces, reshaping the rarity of several dates overnight. That backdrop keeps the series among the most actively collected in American numismatics.
Summary: the 1894-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.