1898 Morgan Silver Dollar Value
Mintage: 5,884,735
Finest Known: MS67+ (NGC) MS67+ (PCGS)
Auction Record: $17,250 (MS67)
Image: USA CoinBook
The 1898 Morgan dollar was a common coin in circulation, but it wasn't until banks (and casinos) began ordering silver dollars in the 1950s that Mint State coins became easier to find. It is assumed that many 1898 Morgan dollars were melted in 1918 under the Pittman Act.
Many more likely ended up being melted in the 1970s, during the largest bull market in silver in modern times. Record silver prices drove the melt value of common-date circulated Morgan dollars higher than their numismatic value..
PCGS breaks down the surviving population of 1898 Morgan dollars like this: 438,000 in circulated condition,140,000 in Mint State 60 through 64, and 9,800 grading MS65 or above.
The Value of an 1898 Morgan Dollar
The 1898 Morgan dollar is common in circulated grades, and is very common in Mint State up to MS65. This date boasts a generally sharp strike. The low price and the availability of sharply struck coins makes the 1898 a popular candidate for type sets.
1898 Morgan Dollar Price Guide
| Very Fine 25 | Extremely Fine 45 | About Uncirculated 55 |
|---|---|---|
| $41 | $42 | $46 |
| Mint State 61 | Mint State 63 | Mint State 65 | Auction Record (MS67) |
|---|---|---|---|
| $59 | $74 | $208 | $17,250 |
The information on this page does not constitute an offer to buy or sell the coin(s) referred to. Statistics are for Mint State coins only. Proof and prooflike examples of this issue may have greater or lesser "finest known" and different record auction prices.