1878-P Morgan Silver Dollar Value Guide

The 1878-P Morgan Silver Dollar marks the inaugural year of George T. Morgan's iconic design, representing a pivotal moment in United States numismatic history. This Philadelphia-minted coin is highly sought after by collectors specifically for its first-year status and the distinct 7 Tail Feathers variety found on the reverse.

What Is 1878-P Morgan Silver Dollar Worth?

The typical price range for 1878-P Morgan Silver Dollar is $45 - $50 based on recent sales. However, values can vary depending on the item's condition, rarity, and other factors such as:

• The specific tail feather variation, as 1878 saw 8-feather, 7-over-8, and 7-feather designs.
• Overall strike quality and the amount of wear on the high points of Liberty's hair and the eagle's breast.
• The presence of original mint luster versus signs of cleaning or artificial toning.
• Current market demand for first-year-of-issue Morgan dollars in the $45.00 to $50.00 price range.

How to Identify 1878-P Morgan Silver Dollar?

• Verify the 90% silver and 10% copper composition which should weigh approximately 26.73 grams.
• Check the reverse of the coin to confirm the '7 Tail Feathers' variety on the eagle.
• Look for the absence of a mint mark above the 'DO' in 'DOLLAR', signifying it was struck at the Philadelphia Mint.
• Examine the designer's initial 'M' located at the truncation of Liberty's neck and on the left loop of the ribbon on the reverse.

History of 1878-P Morgan Silver Dollar

Designed by George T. Morgan, the Morgan Silver Dollar was minted from 1878 to 1904, and again in 1921. This specific 1878 coin from the Philadelphia mint is notable for being part of the inaugural year of the series. The 1878 issue is famous among numismatists for having several variations in the number of tail feathers on the eagle, with this specimen being the 7 Tail Feathers variety.