1896-O Morgan Dollar Value
Today a 1896-O Morgan Dollar typically sells for $31.00 to $706, with condition doing most of the work, and its metal content alone is worth $28.23 as of 2026-06-01 Exceptional, certified pieces regularly exceed the top of that range.
1896-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.
What is the 1896-O Morgan Dollar selling for today?
In worn but collectible condition (Good-4), a 1896-O Morgan Dollar starts around $31.00. From there, value climbs with every grade step: a gem Mint State example (MS-65) can reach $706. Most coins found in old collections fall somewhere between Very Fine and About Uncirculated, the middle rows of the table above.
1896-O Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1896
- Mint mark
- O
- Mintage
- 4,900,000
- 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 1896 Morgan Dollar?
On a 1896-O Morgan Dollar, the "O" mint mark of the New Orleans 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 1896-O Morgan Dollar valuable
A mintage of 4,900,000 makes the 1896-O Morgan Dollar moderately available, though it is noticeably tougher than the bulk dates of the series, particularly in higher grades.
Every 1896-O 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.
Context adds the final layer to the 1896-O Morgan Dollar. 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. Owning this date means owning a piece of that story, and demand for the series as a whole sustains liquidity for every issue in it.
Summary: the 1896-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.