Most Valauble 1880 Morgan Silver Dollar Worth Money (Rarest Sold For $162,000)

If you’ve ever come across an old coin, you probably know the feeling of excitement regarding learning about the coin and finding out what its worth is nowadays. Many people don’t really pay attention to such things, but those who do, are always in for a treat. Regardless of the actual value of a coin, it is always considered a historic treasure and deserves to be learned about.

For this particular article, we’ve decided to talk about the 1880 Morgan silver dollar. Despite its high mintage numbers, this isn’t a rare coin. But, even so, many wouldn’t be able to really identify it, nor know about its worth.

• Common date 1880 Morgans in circulated condition are worth $25-50 depending on grade.
• Uncirculated MS-60 through MS-64 coins range from $60-200.
• The rarest 1880-CC Carson City silver dollars can sell for $150-485 in circulated grades and up to $18,000 in Mint State.
• The 1880-S is the most valuable and an MS-69 example sold for $162,000 at auction.
• Rare varieties like the 1880/79-CC overdate bring significant premiums.
• Condition, mint marks, eye appeal and scarcity determine the value. But even common date 1880 Morgans carry modest premiums over silver melt value due to collector demand.

In the following paragraphs, we’re going to cover everything you need to know about this silver dollar; from its origin and history to the information we’re all interested in; the current market value, and price. So, without further ado, let’s dive right in!

The 1880 Morgan Silver Dollar – Everything You Need To Know

The History and Origin

The so-called Morgan dollar is a United States dollar coin minted from the year 1878, until 1921, and once again in 2021 as a collectible. It was the very first silver dollar minted since the passage of the Coinage Act of 1873.

This Act effectively ended the bimetallic standard in the States, by demonetizing silver bullion. The idea was to incorporate silver into the dollar coins, despite the lower value of the silver compared to the coin’s face value. This guaranteed profit, but ended up causing inflation.

Nevertheless, the coin was authorized by the Bland-Allison Act, and it required the Treasury to purchase up to four million’s worth of silver to be coined into silver dollars each month.

In 1904, the Mint ceased to strike the Morgan dollar but managed to strike it once again for a year in 1921. The coin got its name from its designer, George T. Morgan. He was a United States Mint Assistant Engraver, but more about this in the following paragraphs.

The Coin Features and Characteristics

As we previously mentioned, the coin was designed and named after George T. Morgan. The coin was first designed in Philadelphia, in 1876. Morgan was a student at the Pennsylvania Academy of Fine Arts, where he decided to prepare a new Liberty head design for the new silver dollar.

Often, the representation of Liberty featured a Greek-style figure, but Morgan wanted it to be an American woman instead. Morgan’s friend and artist, Thomas Eakins, suggested he use Anna Willess William as a model. Morgan would later claim that Anna had the best, most perfect profile he had ever seen. Now, let’s take a closer look at the obverse and the reverse of the coin;

The obverse of the coin

The obverse of the 1880 Morgan silver dollar features a left-facing profile of Liberty, wearing a Phrygian cap. The cap is adorned with cotton balls and wheat in Liberty’s hair. There is also the inscription ‘E Pluribus Unum’, meaning ‘out of many, one’, as well as the year 1880 in the very lower part of the coin, right under the Liberty’s profile.

The reverse of the coin

The reverse of the 1880 Morgan silver dollar features a bald eagle with outstretched wings. The eagle’s clutching an olive branch as well as arrows in its talons. There are also inscriptions ‘In God We Trust’ and ‘United States of America’, right above the eagle’s head, while under the eagle there’s the denomination.

Between the denomination and the eagle, generally, there’s also a mint mark indicating where the coin was minted. If there’s no mint mark, then the coin was minted in the Philadelphia Mint.

The 1880 Morgan Dollar Minting Numbers

It is estimated that more than half a billion Morgan dollars were struck between the years 1878 and 1894. The majority of the Morgan dollars were minted in the Philadelphia Mint, but elsewhere, like the Mint branches in New Orleans, San Francisco, and Carson City, generated lower minting numbers. As a result, these Mint branches were closed altogether in the year 1893.

In 1904, the minting of the Morgan dollars came to a halt. It would take 17 years for the Morgan dollars to return, that is in 1921. An addition of 86 million Morgan dollars proved that there is still some hope left. Unfortunately, under the 1918 legislation, more than 270 million Morgan silver dollars from the initial batch have been melted. Under the legislation, the Morgan dollars were to be replaced by the Peace design.

Now that we have a larger overview of the Morgan dollar minting numbers, let’s take a closer look into the minting numbers of the specific 1880 Morgan silver dollar specimen;

The 1880 Morgan silver dollar which was minted without a mint mark, was actually minted in Philadelphia. At this point in time, there was no Denver Mint, but several Mint branches were active in Carson City (CC mint mark), New Orleans (O mint mark), and San Francisco (S), which would later on become a standard Mint. The Philadelphia Mint provided the highest minting numbers, while Carson City and New Orleans produced the lowest minting numbers, which led to, as previously mentioned, their closure.

The 1880 Morgan Silver Dollar – Current Market Value and Price

Despite high minting numbers and the fact that this isn’t a rare coin, the 1880 Morgan silver dollar is reaching some serious numbers. The reason for that? During the 1950s and 1960s, during high silver prices and scarcity, people started selling their 1880 Morgan silver dollars.

This, in turn, made the Morgan silver dollars more in-demand, and as such, more valuable as well. The government saw an increasing interest in silver dollars through the 1970s and 1980s, which kept increasing the already high demand for the 1880 Morgan silver dollar.

Before we get into the current market value, as well as the market demand, of the 1880 Morgan silver dollar, make sure to keep in mind that these are several versions of the coin and that each is recognized by either the lack of mint mark or by the following mint marks; CC, O, S.

The 1880 Morgan Silver Dollar – No Mint Mark (Philadelphia), Regular Strike

• Category: Morgan Dollars (1878-1921)
• Mint: Philadelphia
• Mintage: 12,600,000
• Obverse Designer: George T. Morgan
• Reverse Designer: George T. Morgan
• Composition: Silver
• Fineness: 0.9
• Weight: 26.73g
• ASW: 0.7734oz
• Melt Value: $18.41 (8/2/2023)
• Diameter: 38.1mm
• Edge: Reeded

As we’ve previously seen, the Philadelphia Mint struck 12,600,00 coins, which surely isn’t a number of a rare coin. The 1880-P Morgan dollar is by no means scarce, especially when it comes to the higher grade; but that doesn’t mean there is no value to them.

According to the NGC Price Guide for August 2023, an 1880 Morgan silver dollar is worth between $34.50 and $63. However, on the open market, 1880 Silver Dollars in pristine, uncirculated condition sell for as much as $17 650. An auction record shows that an MS 67 1880 Morgan silver dollar was sold for as much as $27,917.00.

The 1880 Morgan Silver Dollar – CC Mint Mark (Carlson City), Regular Strike

• Category: Morgan Dollars (1878-1921)
• Mint: Carson City
• Mintage: 495,000
• Obverse Designer: George T. Morgan
• Reverse Designer: George T. Morgan
• Composition: Silver
• Fineness: 0.9
• Weight: 26.7300gg
• ASW: 0.7734ozoz
• Melt Value: $18.38 (8/2/2023)
• Diameter: 38.1mm
• Edge: Reeded

From the highest number in Philadelphia to the lowest minting numbers in Carlson City; this Mint managed to strike 495,000 1880 Morgan silver dollars. It is usually not talked about, but the Carlson City Mint produced 591,000 1880 Morgan silver dollars.

However, it was concluded that up to 100,000 of these dollars did not meet the silver fineness standard, so they were melted.

Only a few of the CC 1880 Morgan silver dollars survived, which indicated that these coins are nowadays considered scarce, or even rare. According to the NGC Price Guide for August 2023, an 1880-CC Morgan silver dollar is between $150 and $485 (in circulated condition).

However, on the open market, 1880 CC Silver Dollars in pristine, uncirculated condition sell for as much as $18 000. However, this isn’t the highest expect price for this coin. At an auction in 2012, the 1880-CC 1880 Morgan silver dollar was sold for a whopping $47,000.00 (MS 67):

The 1880-O Morgan Silver Dollar – O Mint Mark (New Orleans)

• Category: Morgan Dollars (1878-1921)
• Mint: New Orleans
• Mintage: 5,305,000
• Obverse Designer: George T. Morgan
• Reverse Designer: George T. Morgan
• Composition: Silver
• Fineness: 0.9
• Weight: 26.73g
• ASW: 0.7734oz
• Melt Value: $18.40 (8/2/2023)
• Diameter: 38.1mm
• Edge: Reeded

Contrary to popular belief, and according to the relatively lower minting numbers, the 1880-O Morgan silver dollar, the majority of the specimen were released into circulation. Moreover, only a few of those specimens were represented in the Treasury releases, so this further made them scarce, especially above the grade MS 64.

According to the NGC Price Guide, for August 2023, a Morgan Dollar from 1880 in the circulated condition is worth between $34.50 and $85. However, on the open market, 1880 O Silver Dollars in pristine, uncirculated condition sell for as much as $66 500.

The 1880-S Morgan Silver Dollar – S Mint Mark (San Francisco)

• Category: Morgan Dollars (1878-1921)
• Mint: San Francisco
• Obverse Designer: George T. Morgan
• Reverse Designer: George T. Morgan
• Composition: Silver
• Fineness: 0.9
• Weight: 26.73g
• ASW: 0.7734oz
• Melt Value: $18.40 (8/2/2023)
• Diameter: 38.1mm
• Edge: Reeded

Out of all four versions of the 1880 Morgan silver dollar, the San Francisco Mint produced the highest-value specimen. Up to 9 million Morgan silver dollars were struck in San Francisco, and a large number of the coins survived in mint condition until today. The San Francisco 1880 silver dollar doesn’t only come in proof finishes, but also deep-proof finishes as well.

According to the NGC Price Guide, for August 2023, a Morgan Dollar from 1880 in the circulated condition is worth between $34.50 and $63.

However, on the open market, 1880 S Silver Dollars in pristine, uncirculated condition sell for as much as $29 000. At an auction, a Regular Strike 1880-S Morgan silver dollar was sold for a whopping $162,000.00 (MS 69 grade).

Error and Rare 1880 Morgan Silver Dollars Value

Just like in an industry, coin striking is a process of a grade scale, and as such, is susceptible to occasional errors. Moreover, some error coins are, because of this, considered to be highly rare and highly in demand, even nowadays. Let’s take a look at some auction records for regular and error 1880 Morgan silver dollars;

• 1880 CC HITLIST-40 VAM-7 REV O – it is not considered rare, but silver dollars with this error are very popular and sought after. The error occurs when the reverse leftover die is used with the obverse dies. According to the NGC Price Guide, such a silver dollar in circulated condition is worth between $135 and $490. However, on the open market, 1880 CC HITLIST-40 Silver Dollars in pristine, uncirculated condition sell for as much as $10000.
• 1880/79-CC $1 Reverse of 1878 (Regular Strike) – this error occurs when an 1880 Morgan silver dollar has a reverse design of an 1878 silver dollar. The coins of such an error often come in highly graded condition, starting at MS 66+. One such coin was sold for $10,575.00 at an auction in 2013.
• 1880-CC $1 8/High 7 (Regular Strike) – this particular silver dollar specimen is among the finest examples in existence. It is considered to have an exceptional eye appeal, with a bold strike and semi-reflective surface. One such coin was sold for a whopping $52,800.00 at an auction in 2019.

 

Final Thoughts

If you’ve made it this far, congratulations! Now you’ve learned everything essential there is to learn about the 1880 Morgan silver dollar. Hopefully, this brief journey was fun and informative.

For more information about the 1880 Morgan silver dollar, we recommend you check professional coin/bill grading services and their informative blog posts as well as active or closed auctions. This can help you understand how the value of a penny changes over time, and what can you expect regarding the market climate. We wish you the best of luck and happy collecting!

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