1878 Morgan Silver Dollar Value Guide

The 1878 Morgan Silver Dollar marks the historic first year of production for George T. Morgan's iconic design, authorized under the Bland-Allison Act. These early strikes are highly prized by numismatists for their 90% silver content and their role in revitalizing American silver coinage after the Coinage Act of 1873.

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 count (8 vs. 7) significantly impacts the market value.
• The presence of a Carson City (CC) mint mark can drive prices toward the higher end of the $500-$600 range.
• Overall strike quality and the level of preservation on Lady Liberty's hair and the eagle's breast feathers.
• The presence of original mint luster versus signs of cleaning or heavy circulation wear.

How to Identify 1878 Morgan Silver Dollar?

• Verify the 1878 date on the obverse below Lady Liberty's portrait.
• Check the reverse for the '7 Tail Feathers' or '8 Tail Feathers' variations unique to this first year.
• Confirm the 90% silver and 10% copper composition, weighing approximately 26.73 grams.
• Look for the 'CC', 'S', or no mint mark (Philadelphia) above the 'DO' in 'DOLLAR'.

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.