1897 Morgan Dollar Value
The 1897 Morgan Dollar carries a current retail range of about $31.00 to $706 across circulated and Mint State grades, and its metal content alone is worth $28.23 as of 2026-06-01 Where your coin lands depends on wear, strike and surface quality.
Public domain image (struck or printed before 1926). Click to enlarge.
1897 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 1897 Morgan Dollar selling for today?
In worn but collectible condition (Good-4), a 1897 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.
1897 Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1897
- Mint mark
- None (Philadelphia)
- Mintage
- 2,822,000
- 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).
The missing mint mark, explained
Look for a letter and you will not find one. The 1897 Morgan Dollar is a Philadelphia product, and the main mint did not sign its work at this time. On branch-mint examples the mark sits on the reverse, just below the wreath bow and above the letters DO in DOLLAR.
What makes the 1897 Morgan Dollar valuable
At 2,822,000 pieces, availability is fair. The premium picture is mostly about condition: common when worn, increasingly scarce as grades climb.
The 90% silver composition gives a 1897 Morgan Dollar 0.7734 oz of precious metal ($28.23 at current spot). Bullion demand alone supports the bottom of its price range.
Context adds the final layer to the 1897 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.
1897 Morgan Dollar inscriptions & design
Obverse
******* E.PLURIBUS.UNUM ****** 1897
Liberty, head l.
Reverse
UNITED STATES OF AMERICA/* ONE DOLLAR *
eagle standing. on arrows and laurel sprig., within wreath. motto above
Measured 1897 Morgan Dollar specimens
6 physically measured 1897 Morgan Dollar examples in our reference database. Real measured weights and die axes let you authenticate a coin against the 26.73 g, 38.1 mm minting standard.
| Specimen | Weight | Diameter | Die axis | References |
|---|---|---|---|---|
| 1897 Morgan Dollar #1 | - | - | - | Breen.5650 |
| 1897 Morgan Dollar #2 | - | - | - | Breen.5651 |
| 1897 Morgan Dollar #3 | - | - | - | Breen.5652 |
| 1897 Morgan Dollar #4 | - | - | - | Breen.5650 |
| 1897 Morgan Dollar #5 | 26.73 g | - | 6 h | Breen.5651 |
| 1897 Morgan Dollar #6 | 26.73 g | - | 6 h | Breen.5652 |
Specifications compiled from documented museum specimens. See our data & methodology page.
Summary: the 1897 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.