1898-S Morgan Dollar Value
A 1898-S Morgan Dollar is worth roughly $31.00 to $706 depending on its condition, and its metal content alone is worth $28.23 as of 2026-06-01 Certified examples in top grades can run far higher.
1898-S 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 1898-S Morgan Dollar worth today?
In worn but collectible condition (Good-4), a 1898-S 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.
1898-S Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1898
- Mint mark
- S
- Mintage
- 4,102,000
- 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 S mint mark
On a 1898-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 1898-S Morgan Dollar valuable
At 4,102,000 pieces, availability is fair. The premium picture is mostly about condition: common when worn, increasingly scarce as grades climb.
Every 1898-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.
Context adds the final layer to the 1898-S Morgan Dollar. Five mints struck Morgan dollars: Philadelphia, New Orleans, San Francisco, Carson City, and, in 1921 only, Denver. 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 1898-S 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.