One may expect that the 1883 Morgan Silver Dollar holds significant value, considering its age of 140 years. Beyond its silver content, this coin is also highly sought after for its historical significance. This guide will delve into the factors contributing to the worth of the 1883 Morgan Silver Dollar.
1883 Morgan Silver Dollar Value Summary
The following is the estimated price provided by the NGC. As you can observe, the starting price for this coin is high, with the lowest being $36.00 for a good (G-4 to G-6) grade ‘P’ uncirculated coin.
| Mint Location | Mintage | Coin Series | Estimated Value | |
| Philadelphia | 12,290,000 | 1883 $1 MS | $36.00 to $32,500.00 | |
| 1883 $1 MS PL | $75.00 to $2,000.00 | |||
| 1883 $1 MS DPL | $145.00 to $7,250.00 | |||
| 1883 $1 PF | $1350.00 to $35,000.00 | |||
| 1883 $1 PF CA | $2750.00 to $45,000.00 | |||
| San Francisco | 6,250,000 | 1883 S $1 MS | $37.00 to $160,000.00 | |
| 1883 S $1 MS PL | $550.00 to $215,000.00 | |||
| 1883 S $1 MS DPL | $1500.00 to $100,000.00 | |||
| New Orleans | 8,725,000 | 1883 O $1 MS | $36.00 to $3,100.00 | |
| 1883 O $1 MS PL | $85.00 to $5,500.00 | |||
| 1883 O $1 MS DPL | $135.00 to $9,000.00 | |||
| 1883 O $1 PF | $200,000.00 | |||
| Carson City | 1,204,000 | 1883 CC $1 MS | $135.00 to $60,000.00 | |
| 1883 CC $1 MS PL | $335.00 to $7,500.00 | |||
| 1883 CC $1 MS DPL | $275.00 to $22,000.00 | |||
| 1883 CC $1 PF CA | $220,000.00 | |||
The 1883 Silver Dollar was produced in four mint locations throughout the United States: Philadelphia, New Orleans, San Francisco, and Carson City.
The year 1883 landed right in the middle of the Morgan Dollar series. Thus, it’s not considered one of the scarcer varieties like the 1893 or 1895 Silver Dollars. Nonetheless, it holds value for collectors.
Sadly, many 1883 Silver Dollars were not preserved over the years. As a result, a majority of the remaining coins are in poor condition. This rarity adds significant value to those in Mint State.
1883 Morgan Silver Dollar Details
- Category: Morgan Dollars
- Weight: 26.73g
- Diameter: 38.1mm
- Composition: 90% Silver, 10% Copper
- Obverse and Reverse Designer: George T. Morgan
- Fineness: 0.9
- ASW: 0.7734oz
- Edge: Reeded
This coin was part of a series named after its creator, George T. Morgan. The obverse side features a portrait of Lady Liberty facing left with her hair flowing and wearing a cap. Her head was decorated with wheat, leaves, fruit, and flowers. The use of wheat symbolizes prosperity during this time.
Thirteen stars adorn the edge to represent the initial colonies, with the year of mintage at the bottom. Above Lady Liberty’s head is the inscription “E PLURIBUS UNUM,” meaning “Out of Many, One.”
The reverse side of the coin features an image of a bald eagle with its wings fully extended in triumph. The bird holds a sprig of olive, a sign of peace, in one claw. Meanwhile, a group of arrows, representative of power and defense, in the other.
“UNITED STATES OF AMERICA” is displayed above the eagle’s head while “In God We Trust” is directly below it. Below the eagle, there is a graceful design of olive leaves. Written underneath that is the value of “ONE DOLLAR”, marked by two stars on either side.
How Much is an 1883 Morgan Silver Dollar?
The value for the Regular Strike 1883 Morgan Silver Dollar is $36.00 to $220,000. This does not take into account the series and the location it came from. Regular strike coins can have a special designation of:
- Proof-Like (PL): Proof-Like coins feature a characteristic high level of shine on the metal’s surface. The proof-like is a result of a highly polished planchet being struck by fresh dies within the minting process. The PCGS uses a standard measure for determining the degree of reflectivity needed for a coin to be considered Proof-Like. This includes looking for clear and visible reflections when held at a distance of two to four inches.
- Deep Proof-Like (DPL): DPL or DMPL is short for Deep Mirror Proof-Like, and refers to a designation for the Morgan Dollar. These coins were originally intended for circulation but are distinctive in having remarkably clear and shiny surfaces, along with raised images that resemble those found on a Proof coin.
If you need to learn more about this designation, you can read more here.
1883 P Morgan Silver Dollar Value and Auction Records
The Philadelphia Mint produced the largest quantity of coins for this year. So, it’s Regular Strike (MS) variety is among the lowest of value.
That said, even the lowest graded ones can be sold for $36.00. Meanwhile, the sought-after MS-68 can be bought for $32,500.
| 1883 P Morgan Silver Dollar Value List | |||
| Grading | 1883 $1 MS | 1883 $1 MS PL | 1883 $1 MS DPL |
| Good | $36.00 | / | / |
| Fine | $38.00 | / | / |
| Extremely Fine | $50.00 | / | / |
| AU 50 | $55.00 | / | / |
| AU 58 | $62.00 | $75.00 | / |
| MS 60 | $70.00 | $85.00 | $145.00 |
| MS 61 | $75.00 | $95.00 | $185.00 |
| MS 62 | $85.00 | $125.00 | $225.00 |
| MS 63 | $110.00 | $160.00 | $300.00 |
| MS 64 | $150.00 | $225.00 | $600.00 |
| MS 65 | $275.00 | $600.00 | $1,700.00 |
| MS 66 | $575.00 | $2,000.00 | $7,250.00 |
| MS 67 | $2,300.00 | / | / |
| MS 68 | $32,500.00 | / | / |
It might be a wonder that even when the most common MS mint at a total of 12,290,000 still has a higher value than the proof-like or deep proof-like.
This is because only 6 specimens of the Regular Strike ‘P’ coins have been graded as MS68. For example, this coin is sold for $34,615.00. This MS68 ‘P’ coin was sold by Heritage Auctions in 2011.
The ‘P’ series is the coin primarily circulated in the market. So, higher uncirculated coins are tough to come by. Thus, they have a higher estimated price.
1883 Proof P Morgan Silver Dollar Value and Auction Records
In 1883, the Philadelphia Mint produced 1,039 Morgan dollars in proof form. Over time, many of these coins have been subjected to light cleaning or wiping, resulting in a lower average grade of PF64.
Furthermore, Proof coins from this time did not have the strong contrast to the relief that is sought after by collectors today.
It’s worth noting that NGC has not yet graded any proof of 1883 Morgan Dollars as being Ultra Cameo.
| 1883 PF Morgan Silver Dollar Value List | ||
| Grading | 1883 $1 PF | 1883 $1 PF CA |
| AU PF 58 | $1,350.00 | / |
| AU PF 60 | $2,000.00 | / |
| MS PF61 | $2,250.00 | / |
| MS PF 62 | $2,500.00 | $2,750.00 |
| MS PF 63 | $3,250.00 | $3,600.00 |
| MS PF 64 | $4,000.00 | $5,000.00 |
| MS PF 65 | $6,200.00 | $8,400.00 |
| MS PF 66 | $9,700.00 | $11,250.00 |
| MS PF 67 | $17,500.00 | $22,500.00 |
| MS PF 68 | $35,000.00 | $45,000.00 |
That said, the value of these coins is pretty high. Having a better strike than the regular strike, the proof series starts at the PF58 for $1,350.00 and can get up to $35,000.00.
Meanwhile, the Cameo Proof, which has a more striking sheen than the Proof coins, has a price range of $2,750.00 to $45,000.00.
1883 S Morgan Silver Dollar Value
The 1883 ‘S’ Morgan Silver Dollar is a highly sought-after coin known for its exceptional strike quality. However, over the years, many of these coins suffered damage and scratches due to improper storage.
As a result, finding this date in mint condition is extremely rare. Most coins from this mint location are only in the MS-62 to MS-63 range, making it very scarce.
| 1883 S Morgan Silver Dollar Value | |||
| Grading | 1883 S $1 MS | 1883 S $1 MS PL | 1883 S $1 MS DPL |
| Good | $37.00 | / | / |
| Fine | $42.00 | / | / |
| Extremely Fine | $85.00 | / | / |
| AU 50 | $175.00 | / | / |
| AU 58 | $725.00 | $600.00 | $1,850.00 |
| MS 60 | $1,200.00 | $1,300.00 | / |
| MS 61 | $1,350.00 | $1,550.00 | / |
| MS 62 | $1,550.00 | $2,300.00 | $13,150.00 |
| MS 63 | $3,150.00 | $6,000.00 | / |
| MS 64 | $6,250.00 | $8,500.00 | $100,000.00 |
| MS 65 | $37,500.00 | $65,000.00 | / |
| MS 66 | $77,500.00 | $120,000.00 | / |
| MS 67 | $160,000.00 | $215,000.00 | / |
According to the latest valuation by NGC’s Price Guide, an 1883 ‘S’ Morgan Silver Dollar in Mint State can range from $1,200 to a whopping $160,000. If you come across a Proof Like (PL) or Deep Proof Like (DPL) version of this coin, its value increases even more to approximately $550 to $215,000 and $13,150 to $100,000 respectively.
1883 O Morgan Silver Dollar Value
The 1883-O Morgan dollar has proven to be a popular coin among collectors. It’s considered a common issue in mint state, with many examples graded as high as MS66.
However, finding an 1883 ‘O’ Morgan Silver Dollar with a grade of MS-67 or higher can prove to be more challenging. Also, there are currently no examples graded as MS-68 by NGC.
| 1883 O Morgan Silver Dollar Grading and Value for Each Designation | |||
| Grading | 1883 O $1 MS | 1883 O $1 MS PL | 1883 O $1 MS DPL |
| Good | $36.00 | / | / |
| Fine | $38.00 | / | / |
| Extremely Fine | $50.00 | / | / |
| AU 50 | $55.00 | / | / |
| AU 58 | $62.00 | / | / |
| MS 60 | $70.00 | $85.00 | $135.00 |
| MS 61 | $75.00 | $95.00 | $170.00 |
| MS 62 | $85.00 | $110.00 | $180.00 |
| MS 63 | $110.00 | $150.00 | $250.00 |
| MS 64 | $150.00 | $175.00 | $470.00 |
| MS 65 | $225.00 | $300.00 | $1,150.00 |
| MS 66 | $360.00 | $2,250.00 | $5,200.00 |
| MS 67 | $3,100.00 | $5,500.00 | $9,000.00 |
Based on data from the NGC Price Guide, its noted that a Regular Strike 1883 O Morgan Dollar in a circulated state has a value range of $36 to $62. However, it has been observed that in perfect, untouched condition can fetch prices as high as $3,100 in the current market.
1883 O Proof Morgan Silver Dollar Value
There are only four known examples of this date and mint in existence today. Two of these have been certified by NGC.
The cause of this issue remains a mystery. However, it is worth noting that a particularly exceptional example of this coin was sold for $20,350 in 1995.
That said, this coin has not shown itself to any auction past the late 90s. So, it increased in value, being estimated at $200,000.
1883 CC Morgan Silver Dollar Value
In 1883, the Carson City Mint produced around 1.2 million Morgan dollars, marking the highest output of any CC Morgan coin. Most of these remained stored in Treasury vaults until the 1970s when they are sold through GSA sales.
Many of these pieces were considered Mint State. So, a lot of them offer excellent value with even the lowest going for $135 with a good grading.
| 1883 CC Morgan Silver Dollar Value List | |||
| Grading | 1883 CC $1 MS | 1883 CC $1 MS PL | 1883 CC $1 MS DPL |
| Good | $135.00 | / | / |
| Fine | $175.00 | / | / |
| Extremely Fine | $210.00 | / | / |
| AU 50 | $225.00 | / | / |
| AU 58 | $265.00 | / | / |
| MS 60 | $310.00 | $335.00 | $275.00 |
| MS 61 | $350.00 | $365.00 | $300.00 |
| MS 62 | $370.00 | $385.00 | $375.00 |
| MS 63 | $390.00 | $415.00 | $455.00 |
| MS 64 | $425.00 | $440.00 | $650.00 |
| MS 65 | $550.00 | $725.00 | $1,275.00 |
| MS 66 | $800.00 | $1,275.00 | $3,250.00 |
| MS 67 | $4,725.00 | $7,500.00 | $22,000.00 |
| MS 68 | $60,000.00 | / | / |
According to the NGC Price Guide, the typical range of value for an 1883 ‘D’ Morgan Dollar is between $135 to $60,000.
Meanwhile, the PL and DPL designation only provides an estimated value for the MS-60 to MS-67. For the Proof-Like coins, it can go from $335 to $7,500. Meanwhile, DPL dollars have a higher average estimated price at $275 to $22,000.
1883 CC Proof Morgan Silver Dollar Value
The 1883 CC Proof Morgan Silver Dollar is like the holy grail of coins as it’s super rare and highly sought after. In fact, there’s only one graded in NGC. One of these coins is estimated to go up to $220,000.
1883 Morgan Silver Dollar Error Coins
Only one type of error is expected in the market for the 1883 Morgan Dollar: the mint error. Particularly, it’s mainly present on the edges of the coin.
1883 Morgan Silver Dollar Mint Error (Partial Collar)
A partial collar error is a coin production mistake where the planchet is not properly placed in the collar. So, the blank is not fully used during striking. It causes a portion of the coin to extend beyond its regular diameter, resulting in an uneven surface. This particular 1883 Morgan Silver Dollar coin is up for $269.50 on eBay.
In Conclusion
Being a very old coin, you will have the most out of the uncirculated mint from this year! The 1883 Morgan Silver Dollar provides excellent value at it’s sought after by many collectors.
Jenson is a professional numismatist, a dedicated coin collector, a graduate of the College of Business at Oregon State, a life member of the American Numismatic Association (ANA), and an overall coin nerd. He is the founder of Coin Value List.