1878 Morgan Silver Dollar Value Guide

The 1878 Morgan Silver Dollar marks the historic first year of George T. Morgan's legendary design, authorized under the Bland-Allison Act. These 90% silver coins are highly sought after by numismatists as the foundation of one of the most popular collectible series in American history.

What Is 1878 Morgan Silver Dollar Worth?

The typical price range for 1878 Morgan Silver Dollar is $500 - $600 based on recent sales. However, values can vary depending on the item's condition, rarity, and other factors such as:

• The specific tail feather variety, with the 8-tail feather and 7-over-8 varieties often carrying higher premiums.
• The presence of a Carson City (CC) mint mark, which typically increases value due to lower mintage numbers.
• Professional grading (MS-60 or higher) by services like PCGS or NGC, which is essential for the $500-$600 price range.
• The level of original mint luster and the absence of surface abrasions or 'bag marks' on Lady Liberty's cheek.

How to Identify 1878 Morgan Silver Dollar?

• Verify the 1878 date located on the obverse directly below Lady Liberty's neck.
• Examine the eagle's tail feathers on the reverse to identify the 8-feather, 7-over-8, or 7-feather varieties unique to this year.
• Confirm the coin's weight of 26.73 grams and its composition of 90% silver and 10% copper.
• Check for mint marks 'CC' or 'S' above the 'DOLLAR' text on the reverse, or no mark for Philadelphia.

History of 1878 Morgan Silver Dollar

The Morgan Dollar, designed by George T. Morgan, was minted from 1878 to 1904, and again in 1921. It was authorized by the Bland-Allison Act, which required the U.S. Treasury to purchase a certain amount of silver and coin it into dollars. The 1878 issue is particularly significant as it marks the first year of its production, and collectors often seek out these early strikes for their historical importance.