1904-O Morgan Dollar Value
Depending on how well it survived, a 1904-O Morgan Dollar brings anywhere from $31.00 to $706, and its metal content alone is worth $28.23 as of 2026-06-01 Certified examples in top grades can run far higher.
1904-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.
Current 1904-O Morgan Dollar value
At the entry level, well-worn examples bring about $31.00. The same coin in gem uncirculated condition is a $706 coin. Grade is everything: two examples of the 1904-O Morgan Dollar can differ in price by an order of magnitude based purely on preservation.
1904-O Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1904
- Mint mark
- O
- Mintage
- 3,720,000
- 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 1904 Morgan Dollar?
On a 1904-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 1904-O Morgan Dollar valuable
The 3,720,000 mintage is respectable, but decades of circulation consumed most of it. Sharp, problem-free coins are the ones that bring the money.
Every 1904-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 1904-O Morgan Dollar. Morgan, recruited from the Royal Mint in London, modeled Liberty on Philadelphia schoolteacher Anna Willess Williams rather than the conventional Greek profile. 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 1904-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.