Imagine finding a single coin worth half a million dollars! The 1893-S Morgan Silver Dollar is one of the rarest and most valuable coins in U.S. history. With only a few hundred known to exist, this coin is the holy grail for collectors. Let’s break down why this silver dollar is so special and how you might find one.
What Makes the 1893-S Morgan Dollar So Rare?
The 1893-S (San Francisco Mint) Morgan Dollar is one of the key dates in the series. Only 100,000 were minted, and most were melted down or heavily circulated. Experts believe fewer than 300 survive today in collectible condition.
Key Facts About the 1893-S Morgan Dollar
Extremely low mintage – Only 100,000 made (vs. millions for other years).
Most were lost or damaged – Very few survived in good shape.
Record sale: One sold for $735,000 in 2021 (could be worth more now!).
How Much Is an 1893-S Morgan Dollar Worth?
The value depends on condition, but even worn examples are valuable:
| Condition | Estimated Value |
|---|---|
| Worn (Good-VG) | $10,000 – $50,000 |
| Fine to Extremely Fine | $50,000 – $150,000 |
| Uncirculated (MS-60+) | $300,000 – $500,000+ |
The finest-known example (graded MS-66) sold for $735,000—making it one of the most expensive Morgan Dollars ever.
Why Is This Coin So Valuable?
- Extreme Rarity – Fewer than 300 exist today.
- High Demand – Every serious Morgan Dollar collector wants one.
- Historic Significance – Part of America’s Wild West silver boom.
- Beautiful Design – Features Lady Liberty and a majestic eagle.
Where Are These Coins Today?
Most are in private collections or museums:
Smithsonian Institution (Washington, D.C.)
American Numismatic Association Museum (Colorado)
Wealthy collectors’ vaults (some hidden away for decades).
Could You Have One? (How to Check)
The odds are very low, but here’s what to look for:
Date & Mint Mark: Must say “1893-S” (S = San Francisco).
Weight: About 26.73 grams (90% silver).
Design: Liberty’s profile on front, eagle on back.
If you think you have one, get it certified by PCGS or NGC immediately!
The Most Famous 1893-S Morgan Dollar Sale
In 2021, an MS-66 graded 1893-S Morgan Dollar sold for $735,000—a record for this date. Experts say if another top-grade coin appears, it could break $1 million.
Is There Still Hope to Find One?
While most 1893-S Morgan Dollars are already accounted for, rare coins still turn up in old collections, estate sales, and even inherited coin jars. If you collect coins, always check dates and mint marks—you never know when you might stumble upon a $500,000 treasure!
FAQs
- Why is this coin so valuable?
Only 100,000 were minted and fewer than 300 survive today. - What’s the record sale price?
$735,000 for a perfect MS-66 grade coin in 2021. - How many still exist?
Fewer than 300 confirmed specimens in all conditions. - What does the “S” mean?
It was minted in San Francisco (S mint mark). - How to spot a real one?
Look for “1893-S” date/mint mark and proper silver weight (26.73g). - What’s the cheapest one sold for?
Worn examples still sell for $10,000+.
