1902-O Morgan Dollar Value
Depending on how well it survived, a 1902-O Morgan Dollar brings anywhere from $29.00 to $282, while the raw metal inside it is valued at $28.23 as of 2026-06-01 Exceptional, certified pieces regularly exceed the top of that range.
1902-O 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 1902-O Morgan Dollar worth today?
In worn but collectible condition (Good-4), a 1902-O 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.
1902-O Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1902
- Mint mark
- O
- Mintage
- 8,636,000
- 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 to look for the mint mark
Identifying a 1902-O Morgan Dollar hinges on one small letter: the "O" of New Orleans. On the reverse, just below the wreath bow and above the letters DO in DOLLAR Verify it before pricing the coin, because a 1902 from a different mint can be worth a very different amount.
The value drivers behind this coin
With 8,636,000 struck, the 1902-O Morgan Dollar is one of the more available dates of its series. Its value rests on metal content and condition rather than absolute rarity, which makes it an ideal type coin.
Beneath the numismatics of the 1902-O Morgan Dollar sits 0.7734 troy ounces of silver, $28.23 worth at today's spot price. When silver rallies, even the most common dates of this series rise with it.
The series itself does some of the lifting for the 1902-O Morgan Dollar: Hundreds of millions sat in Treasury vaults for decades, which is why many dates survive in gem Mint State, while issues that actually circulated, such as the 1893-S and 1889-CC, became celebrated rarities. Broad, multigenerational demand for the design gives every date, including this one, a deep and liquid market.
Summary: the 1902-O 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.