Morgan Silver Dollars were not originally made for everyday use. Many were stored in government vaults to support the American silver mining industry.
In the late 1950s, collectors discovered bags of these coins in mint condition, which increased their popularity. Since many uncirculated coins still exist today, knowing how to grade them is important for determining their value and condition.
Grading Morgan Silver Dollars
Morgan Silver Dollars are graded using the Sheldon scale, which ranges from 1 to 70. Beginners may find grading difficult, so it helps to group coins into three main categories:
- Circulated Coins – These show clear signs of wear and can be either non-collectible or lower-grade collectible coins.
- About Uncirculated (AU) Coins – These have slight wear but still look mostly new.
- Mint State (MS) Coins – These have never been used in circulation and are graded from MS 60 to MS 70 based on quality.
Collectors usually prefer coins graded AU 50 or higher, though even lower-graded coins can be valuable. The highest possible grade is MS 70, which means the coin has no imperfections and retains its original luster.
Important Factors in Grading
Morgan Silver Dollars are made of 90% silver and 10% copper, which makes them durable but also affects their minting quality. Some coins, even in uncirculated condition, may have weakly struck details, such as Liberty’s hair near her ear. Checking for wear and evaluating strike quality are essential when grading these coins.
If you are unsure about grading or pricing your coins, a professional appraiser can provide an accurate evaluation.
Detailed Grading Guide
- About Good (AG 3) – Liberty’s head is visible, but details are heavily worn. The eagle’s body is flat with no feather details.
- Good (G 4) – Lettering is visible, though the rim is worn. Liberty’s features and the eagle’s feathers are faint.
- Very Good (VG 8 – VG 10) – More details appear in Liberty’s hair and cap, and the eagle’s wings have partial feather definition.
- Fine (F 12 – F 15) – Liberty’s hair and cap have clearer details. Three-quarters of the eagle’s feathers are visible.
- Very Fine (VF 20 – VF 35) – Hair strands near Liberty’s ear are distinct, and the eagle’s wing feathers are sharper but slightly worn.
- Extra Fine (EF 40 – EF 45) – Minimal wear on Liberty’s cheek and hair. Most of the eagle’s feathers remain well-defined.
- About Uncirculated (AU 50 – AU 58) – Slight wear on high points like Liberty’s cheek and the eagle’s breast. Most of the original mint luster remains.
- Mint State (MS 60 – MS 70) – No wear at all. Higher grades have sharper details, fewer marks, and full mint brilliance.
Conclusion
Morgan Silver Dollars are valuable and widely collected. Many still exist in uncirculated condition, but their worth depends on factors like quality, rarity, and preservation. Understanding the grading system helps determine their true value. If needed, a Coin Value Checker or professional appraisal service can provide an accurate assessment.
