Two designs and their years
The original Morgan dollars are dated 1878 to 1904 and 1921. They are named for their designer, George T. Morgan.
The original Peace dollars are dated 1921 to 1928 and 1934 to 1935. They marked the peace that followed World War I.
Both are 90% silver and about an inch and a half across.
Telling them apart
On a Morgan dollar, Liberty wears a cap and a headband lettered LIBERTY. The back shows an eagle with its wings spread, holding arrows and an olive branch, with a wreath curving beneath it.
On a Peace dollar, Liberty wears a crown of rays, much like the Statue of Liberty’s. The back shows an eagle at rest on a rock lettered PEACE, holding an olive branch and no arrows.
The motto on a Peace dollar reads IN GOD WE TRVST. The V is part of the design, not a mistake.
Date and mintmark
The date is at the bottom of the front on both coins.
The mintmark is a small letter, or the letters CC, on the back. It shows which mint struck the coin.
On a Morgan dollar it is above the D and O of DOLLAR, just under the bow of the wreath. On a Peace dollar it is below the word ONE, near the tip of the eagle’s tail feathers.
A date can be common from one mint and scarce from another, so collectors look at both.
No letter means Philadelphia. The letters you may find:
- CC: Carson City, on Morgan dollars.
- O: New Orleans, on Morgan dollars.
- S: San Francisco, on both.
- D: Denver, on Peace dollars and on Morgan dollars dated 1921.
1921, the year of both
1921 was the last year of the original Morgan dollar and the first year of the Peace dollar.
The 1921 Peace dollar was struck only in Philadelphia, so it has no mintmark. Collectors call its design high relief, because it stands out from the surface more than on later coins. The Mint lowered the relief in 1922.
1921 Morgan dollars came from three mints: Philadelphia, Denver and San Francisco.
Before you do anything
Don’t clean or polish your dollars. Cleaning can’t be undone. Collectors prefer old silver with its natural color.
Copies are common, especially of Morgan and Trade dollars and older gold coins, some in fake grading holders. Many were bought in good faith.
Morgan and Peace dollars dated 2021 or later, including the 2026 coins dated “1776 ~ 2026”, are modern U.S. Mint coins made of 99.9% silver, not 90% silver.
Leave coins in their albums, flips, holders and Mint packaging.
Selling your silver dollars
Our What we pay page prices Morgan and Peace dollars dated 1935 or earlier for their silver. Collectors also look at the date, mintmark and condition, and many of these dollars are worth more than their silver content, so bring them as they are and we’ll look at each one.
Today’s prices for silver dollars
| Item | We pay |
|---|---|
| Morgan and Peace silver dollars (1878–1935) .900 fine · 38.1 mm · 0.7734 oz of fine silver each | $34.94 per coin |
| 40% silver Eisenhower dollars (S-mint collector issues) .400 fine · 38.1 mm · 0.3161 oz of fine silver each | $14.28 per coin |
| American Silver Eagles (1 oz) .999 fine · 40.6 mm · 1 oz of fine silver each | $45.18 per coin |
Walk in with no appointment, and bring a valid government photo ID; you must be 18 or older. If you’d like a quote from photos first, photograph each dollar:
- Both sides.
- The date, up close.
- The mintmark spot on the back, up close, even if you see no letter.
- The front and back of the label, if the coin is in a grading holder.
Questions
Is my Morgan dollar silver?
Yes, if it is dated 1878 to 1904 or 1921: the original Morgan dollars are 90% silver. Morgan dollars dated 2021 or later are modern U.S. Mint coins of 99.9% silver.
Where is the mintmark on a Peace dollar?
On the back, below the word ONE, near the tip of the eagle’s tail feathers. No letter means Philadelphia.
Should I clean my silver dollars before I sell them?
No. Cleaning can’t be undone, and collectors prefer old silver with its natural color.