How Much Is A Silver Dollar Worth?
Many factors influence how much a silver dollar is worth, and these details can make a huge difference! For example, some common silver dollars are worth as little as $20, while others are worth thousands of dollars. Understanding which category your coins fall into requires knowledge of several key factors including age, condition, origins, and whether you have an unusual variety or error coin.
There were also a wide variety of different types of silver dollars made in the United States over the past three centuries. With so many different designs to choose from, figuring out which one you have is the first step. The values of your specific silver dollars can only really be determined by a sight-seen evaluation by a professional coin dealer, but you can become more educated about what your silver dollars may be worth by understanding the basics of numismatic valuation.
Table of Contents What type of silver dollar do you have?This is one of the most important questions you need to answer before you can even begin to grasp what your coins are worth. As many numismatists know, there isn't "a" single type of silver dollar, but many types. Here's a comprehensive rundown of the various major types struck since the United States Mint began making them in 1794:
Silver Dollar Type Years Minted Value Range Rarity LevelFlowing Hair Dollar 1794–1795 $1,787 – $1,555,005 Extremely Rare
Draped Bust Dollar 1795–1804 $1,537 – $1,238,926 Very Rare
Gobrecht Dollar 1836–1839 $12,895 – $73,561 Rare
Liberty Seated Dollar 1840–1873 $267 – $73,563 Scarce
Trade Dollar 1873–1885 $106 – $31,507 Semi-Scarce
Morgan Dollar 1878–1921 $32 – $614,348 Common to Rare
Peace Dollar 1921–1935 $30 – $130,940 Common to Scarce
Eisenhower Dollar 1971–1978 $1 – $104 Common
Commemorative Dollars 1983–present $20 – $400 Common
American Silver Eagle 1986–present $35 – $3,443 Common to Scarce
Most Common Types
Chances are, if you have any silver dollars, they're probably among the last five types on this list. While these are the most common of all silver dollars, all dollar coins containing silver are worth multiples over their face value. Understanding which type you have is crucial for accurate valuation and potential silver investment decisions.
Four keys to silver dollar valuesThere's much more to determining the value of a silver dollar than simply looking up the date online and assuming yours is worth the highest—or lowest—price listed. Several important factors determine how much your silver dollar is worth:
The Date
The date is important but not the only factor. Rarity matters more than age—some newer dates are worth more than older ones based on mintage figures and survival rates.
Mintmark Location
Where the coin was minted can make or break the value. The mintmark indicates the coin's origin and can dramatically affect worth.
Errors and Varieties
Unusual characteristics from the minting process can significantly increase value, but post-mint damage typically reduces it.
Grade & Condition
An uncirculated silver dollar will be worth much more than one worn smooth. Cleaning or damage severely reduces value.
Understanding the importance of dates
Does an older date always mean higher value?
While it may seem logical that older dates are worth more, this isn't always true. The 1804 dollar brings millions not because it's old, but because only 15 were minted. Value relates to rarity rather than age. For example, the relatively high-mintage 1879 Philadelphia Morgan dollar is worth $15-30 in circulated grades, while the low-mintage 1928 Peace dollar can bring $200+ in the same condition.
Rarity vs. Age Concept
The date on your silver dollar tells you about its rarity, which is the primary driver of value. Some dates have higher numbers of survivors than others due to original mintage figures, melting programs, or circulation patterns. Understanding this relationship helps collectors and investors make informed decisions when they purchase silver coins for their portfolios.
Mintmark identification and impactSometimes, folks who don't know what to look for will examine the date alone and assume they know their coin's value. However, the mintmark—indicating where the silver dollar was made—is equally crucial for proper identification and valuation.
Mint Location Mintmark Years Active NotesCarson City CC 1870-1893 Highly collectible, premium values
Denver D 1906-present Various value impacts by date
New Orleans O 1838-1909 Popular among collectors
Philadelphia None (P after 1979) 1794-present Main mint, largest quantities
San Francisco S 1854-present Key dates and proofs
West Point W 1984-present Special issues and proofs
Mintmark Location Guide
On silver dollars made before the Eisenhower dollar, mintmarks appear on the reverse (tail's side). On Eisenhower dollars and later coins, they're found on the obverse—except some modern small-size golden dollars where the mintmark appears on the edge. Knowing where to look is essential for proper identification.
Errors and varieties that add value
How can I tell if my coin has a valuable error or variety?
Before getting excited about unusual markings, remember that most things thought to be errors by non-experts are actually post-mint damage. Many weird dents, gouges, or strange markings (like Masonic symbols) are caused outside the mint and typically reduce value rather than increase it. Legitimate errors and die varieties require research and expertise to identify properly.
Legitimate Mint Errors
Doubled die varieties
Repunched mintmarks
Off-center strikes
Planchet errors
Die cracks and cuds
Increase Value
Post-Mint Damage
Scratches and gouges
Counter stamps
Environmental damage
Cleaning marks
Corrosion and staining
Decrease Value
Research Required
Study known varieties
Compare with references
Consult experts
Professional authentication
Documentation needed
Expert Analysis
Grade and overall condition factorsNew collectors, here's your first piece of advice: do not clean your coins under any circumstances! Cleaning will not make them look better and will always reduce value—perhaps by 50% or more. Coin dealers and seasoned numismatists prefer their coins original, not cleaned.
Grading Scale Basics
70-point grading scale
"1" = Poor condition (worn smooth)
"70" = Perfect uncirculated
Uncirculated = Never spent as money
Condition Factors
Amount of wear from circulation
Surface preservation quality
Strike quality and completeness
Eye appeal and luster
Value Impact
Uncirculated specimens most valuable
Each grade level affects price
Cleaning severely reduces value
Damage typically not repairable
Critical Warning
Cleaning removes original patina and even a thin layer of metal that can never be restored. This dramatically impacts both the coin's appearance and market value. Leave your coins exactly as you found them for maximum preservation of value and authenticity.
Morgan and Peace dollar valuesIf you own any common Morgan or Peace silver dollars in worn condition, these are usually worth very close to the current price of an ounce of silver. Rarities or those in exceptionally good condition can be worth hundreds or even thousands of dollars.
Key Value Points
Carson City Morgan dollars: Any Morgan with "CC" mintmark worth at least $50-100 each, often much more
1921 Peace dollars: While all 1921 Morgan dollars are common, the 1921 Peace dollar is scarce, worth $50+ minimum
Common dates: Most circulated examples trade near silver bullion value
Key dates and mint marks: Significant premiums over silver content
Uncirculated examples: Dramatic value increases based on preservation quality
The mintmark and condition variations between coins of the same date can mean the difference between a piece that might buy lunch versus one that helps pay off your mortgage. This demonstrates why professional evaluation is essential for valuable coins.
Eisenhower and modern dollar coins
Are Eisenhower dollars valuable, and which ones contain silver?
Most Eisenhower dollars aren't silver at all but made from copper-nickel composition. When worn, these are worth only face value. All Eisenhower dollars with silver must contain an "S" mintmark, but not all "S" mintmark Eisenhower dollars are silver. Professional identification is recommended for S-mint specimens.
Eisenhower Dollars
Most are copper-nickel composition worth face value when worn. Only S-mint varieties may contain silver, and professional identification is needed to determine composition.
Limited Silver Content
Susan B. Anthony Dollars
Virtually all worn examples are worth only face value. Safe to spend in most circumstances unless you have exceptional varieties or errors.
Face Value Only
"Golden" Dollars
Not made from gold and not rare. These modern dollar coins can be spent along with worn Susan B. Anthony and non-silver Eisenhower dollars.
Spend Freely
Modern Silver Dollars Worth Keeping
If you have any of the really old silver dollars, these coins warrant professional evaluation due to their potential high values and rarity.
Silver dollar collecting as a hobbyWhether your silver dollars are worth a little or a lot, hopefully they bring you joy and perhaps inspire you to collect more coins. Even if you inherited your silver dollars from a loved one, your introduction to coins may inspire you to further build upon the collection you now have.
Getting Started
Learn basic coin identification
Understand grading fundamentals
Research market values and trends
Connect with local coin clubs
Building Collections
Focus on specific series or types
Set realistic budget parameters
Prioritize quality over quantity
Document your acquisitions
Long-term Benefits
Historical knowledge appreciation
Potential financial returns
Social connections with collectors
Legacy building for family
Professional Resources
Coin collecting is a fantastic hobby that can be enjoyed for a lifetime, bringing both financial and personal fulfillment. Whether you're looking to sell silver dollars you've inherited or purchase additional pieces for your collection, understanding these valuation principles will serve you well throughout your numismatic journey.
ConclusionDetermining how much a silver dollar is worth requires understanding multiple interconnected factors: the type and date, mintmark location, condition grade, and any special varieties or errors. While some silver dollars are worth only slightly above their silver content, others command thousands or even hundreds of thousands of dollars based on rarity and preservation.
The key to successful silver dollar evaluation lies in proper identification and realistic assessment of condition. Remember that cleaned or damaged coins lose significant value, and post-mint alterations typically reduce rather than increase worth. For valuable pieces, professional authentication and grading provide the documentation needed for insurance and resale purposes.
Whether you're evaluating inherited coins or considering silver dollars as an investment alongside tracking silver prices, understanding these fundamentals empowers you to make informed decisions. The coin marketplace constantly evolves, but the principles of rarity, condition, and authenticity remain the foundation of numismatic value.