1896-S Morgan Dollar Value
A 1896-S Morgan Dollar is worth roughly $29.00 to $282 depending on its condition, and its metal content alone is worth $28.23 as of 2026-06-01 The figures below break the range down grade by grade.
1896-S 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.
How much is a 1896-S Morgan Dollar worth today?
In worn but collectible condition (Good-4), a 1896-S Morgan Dollar starts around $29.00. From there, value climbs with every grade step: a gem Mint State example (MS-65) can reach $282. Most coins found in old collections fall somewhere between Very Fine and About Uncirculated, the middle rows of the table above.
1896-S Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1896
- Mint mark
- S
- Mintage
- 5,000,000
- 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-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 makes the 1896-S Morgan Dollar valuable
A large mintage of 5,000,000 means this issue is common in circulated grades. The interesting money starts in Mint State, where quality, not quantity, sets the price.
Every 1896-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.
There is history in a 1896 Morgan Dollar as well. 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. That backdrop keeps the series among the most actively collected in American numismatics.
Summary: the 1896-S 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.