1904 Morgan Silver Dollar Value Guide

The 1904 Morgan Silver Dollar represents the final year of the original production run before a seventeen-year hiatus, making it a pivotal piece for U.S. coinage enthusiasts. Designed by George T. Morgan, this 90% silver coin is a tangible artifact of the Bland-Allison Act and the American silver boom of the early 20th century.

What Is 1904 Morgan Silver Dollar Worth?

The typical price range for 1904 Morgan Silver Dollar is $35 - $50 based on recent sales. However, values can vary depending on the item's condition, rarity, and other factors such as:

• The presence of a mint mark, as Philadelphia (no mark), New Orleans (O), and San Francisco (S) issues have varying scarcity.
• Overall strike quality and the amount of original mint luster remaining on the silver surfaces.
• The current spot price of silver, which provides a baseline 'melt value' for coins in lower grades.
• Surface preservation, specifically the absence of heavy 'bag marks' or scratches from circulation.

How to Identify 1904 Morgan Silver Dollar?

• Verify the 90% silver and 10% copper composition, which gives the coin a distinct metallic ring and weight.
• Look for the 'M' designer initial at the base of Liberty's neck and on the ribbon on the reverse side.
• Check for mint marks (O for New Orleans, S for San Francisco) or the absence of a mark for Philadelphia located above the 'DO' in 'DOLLAR'.
• Examine the fine details in Lady Liberty's hair and the eagle's breast feathers to determine the level of wear.

History of 1904 Morgan Silver Dollar

The Morgan Dollar, named after its designer George T. Morgan, was minted from 1878 to 1904, and again in 1921. It was a product of the Bland-Allison Act, which required the U.S. Treasury to purchase and coin a certain amount of silver each month. These coins played a crucial role in American commerce and are highly sought after by collectors for their historical significance and artistic design.