NOTE: PCGS has established that all 1896-O, 1900-O and 1902-O silver- Dollars v so-called "Micro o" mintmarks were counterfeit.

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Image: USA CoinBook


Like nearly every mintage, the nearly 12.6 million 1900-O Morgan dollars went directly to storage together they to be struck. ~ the decommissioning that the brand-new Orleans Mint in 1911, all staying coins in storage were sent to the Treasury department in Washington D.C.. In 1929, huge quantities the 1900-O Morgan dollars to be shipped from D.C. Come the main U.S. Mint in Philadelphia for lengthy term storage. Bags that 1900-O Morgan dollars left the Treasury vaults start in the 1930s, as soon as requests come in from banks, therefore leading to a number of them lastly reaching circulation.

In October 1962, literally hundreds of 1000-coin bags of Mint State 1900-O Morgan dollars to be disgorged native the vaults the the Philadelphia Mint. This has actually made the day readily available in Mint Grade. In a bizarre turn of fate, there are an ext MS67 1900-O Morgan dollars ~ above the sector than all various other Mint State grades put together!

Note that, upon mindful inspection, PCGS figured out that every 1896-O, 1900-O, and 1902-O Morgan dollars v a "micro O" mintmark space counterfeits.

The value of a 1900-O Morgan Dollar

The 1900-O Morgan dollar can be a poster boy for "common date Morgans". The the substantial original mintage or much more than 12 and also a fifty percent million coins, that is estimated that completely 10% endured the miscellaneous government and private meltings. The 1900-O was already easily accessible in massive quantities before the good Morgan dissension Disbursement by the Treasury room in 1962.

1900-O Morgan dollar Price Guide

Circulated Grades

very Fine 25 exceptionally Fine 45 about Uncirculated 55
$33 $37 $46

Uncirculated (Mint State) Grades

Mint State 61Mint State 63Mint State 65Auction document (MS67+)
$59$73$135$9,394

Grading Morgan Dollars

The worth of a Morgan dollar relies on its rarity and condition. Like anything else, the much better the coin"s condition, the much more it is worth. Prices present a comprehensive jump together their condition reaches mid-level uncirculated grades.

Determining the problem of a coin is dubbed "grading." The coin grading scale, for reasons too an extensive to covering here, goes from 1 to 70. A Mint State 70 coin (MS70) is totally flawless, even when examined under 5x magnification. This level of detail was difficult with the coining modern technology of the 19th and also early 20th centuries.

THE HIGH clues WHERE indications OF WEAR an initial APPEAR top top MORGAN DOLLARSThere are a few high points on the Morgan dissension that will be worn down first. Other than rarity, the amount of wear in this high locations is what drives many of the worth of the coin.

Top of cheekBrowHairlineHair over earCurls end dateTop that capEagle"s breastEagle"s legsEagle"s headRight wingtip

Note that part mintages the Morgan dollars may have been weakly struck in ~ the Mint. Morgan dollars produced at the mountain Francisco and brand-new Orleans Mints are much more likely to have actually weak strikes than those produced at Philadelphia. A weakly to win Morgan dollar may be absent some good detail, however this walk not typical that the coin is worn. Be aware if the coin you room looking at is native a day known because that weak strikes.

PRIME FOCAL locations ON MORGAN DOLLARSThere are details places ~ above a Morgan disagreement where damage is far much more noticeable. Damage in this "focal areas" will impact the great a Morgan dollar achieves, more than damage in other places.

Face and also neck that LibertyThe ar in former of Liberty"s faceBody and wings the the eagleFields to sides of wings and above eagle"s head

Very Fine

A VF25 very Fine Morgan dissension will have actually light to moderate wear. Wear will be greater on the high clues of the coin. Bag marks or circulation damage may be current in element focal areas, keeping this coin native a greater grade. High point out will show some flattening and also loss that detail, but all significant and plenty of minor details room still present. Most or every mint luster will certainly be gone.

OBVERSELiberty"s hair will present flatness along the hairline over the forehead, end the ear, and down beside the date. Liberty"s cheek can show moderate abrasion. The peak of Liberty"s lid will present wear. The cotton bolls in Liberty"s crown will have actually some minor detail worn away. The cotton pipeline will additionally exhibit flatness.

REVERSEThe height of the eagle"s breast and legs will certainly be worn smooth. The head and neck will be worn, yet not to the same extent. The talons will be flat. The pipeline of the wreath will be distinct, yet with many showing wear. All wing feathers will certainly be present, however some will be absent detail. The appropriate wingtip will be worn.

Extremely Fine

The XF45 very Fine Morgan dollar will certainly exhibit irradiate wear overall, concentrated on the normal high points. Almost all young details space present and also well defined. It could display increase to half of the initial mint luster. Again, marks or circulation damages may avoid this coin indigenous earning a greater grade.

OBVERSELiberty"s hairline is full, with some flatness on the high points over the eye and also ear. The hair retains fine strands, offering the challenge a much more detailed appearance. Mild wear has actually taken the luster native Liberty"s cheek, yet it maintain its full shape. The noodle bolls are start to exhibit minor details. Flatness is noticeable on the peak of the bolls and the edges of the noodle leaves. The high allude of the cap is flat.

REVERSEFeathers are start to display on the eagle"s breast. The head and also neck are much more detailed, yet retain some flatness. The foot show significant details on the sides, yet the tops space worn. The talons are slightly flat. Many wing feathers space well-defined. The best wing mirrors wear throughout 25% the the wing. The leaf of the left soup will show some wear.

About Uncirculated

An AU55 around Uncirculated Morgan dollar will certainly present very light friction or wear, however only on the high points. Mint luster should be complete, or almost so. Scratches and marks should be little and unobtrusive. One AU55 Morgan dollar should existing positive eye appeal, even when compared to low-grade Mint State coins.

OBVERSESlight rubbing or friction may be viewed at the continuous high points. Liberty"s hair will screen high detail. The cotton and also wheat in the hairband will certainly have complete detail. The cheek may present impaired or missing luster.

REVERSEThe reverse should current full detail, beside from pass out rubbing top top the high points of the eagle (the head, breast, height of the legs, and also talons.)

Mint State Morgan Dollars

Mint State (Uncirculated) coins space those that continued to be in sealed canvas Mint bags before being acquired by a coin collector. As a rule, this coins will have complete mint luster, and also no "post-Mint" damage. However, as soon as talking around Mint State coins, "uncirculated" go not median "undamaged."

That last information is important, due to the fact that while Mint State Morgan dollars were never paid the end (people preferred file silver certificates), they could still see substantial damage from being slung approximately in the large canvas bags the same way bags the quarters, nickels, dimes, and also cents were. The damages coins get from banging right into one an additional is called "bag marks."

No matter just how beat up a Morgan disagreement looks, if there is no circulation wear and it maintain mint luster, it will grade together Mint State. This is why Mint State coins space graded native MS60 (worst) to MS70 (perfect). Since Morgan dollars were tackled like any kind of other circulation coin, there will never be a perfect MS70 Morgan dollar

Mint State 61

A MS61 Mint State Morgan dollar will certainly have comprehensive mint damage. Lot of this damages will it is in in prime focal areas (see "What space The prime Focal areas On Morgan Dollars", above.) Many huge and small bag marks, and even gouges do this coin unattractive. That is readily evident when a coin is going to grade together low together MS61. Coin collectors will not rubbish money having such a coin professionally graded, uneven it is a rarely mintage.

Mint State 63

Mint State MS63 (and MS64) Morgan dollars are an ext attractive than lower grades, with great strikes and also mint luster. They will still have sufficient marks or scuffs to it is in distracting. Several of these will certainly be in element focal areas. None will be hefty or particularly detracting. MS63 and MS64 are the most popular grades that Morgan dollars. They"re nicer 보다 the MS60-MS62 coins, and also not almost as expensive as MS65 ones.

Mint State 65

A Mint State 65 Morgan disagreement is also known as "Gem Uncirculated," with great reason. That will have actually a sharp strike, and full, attractive luster. It will present scattered, irradiate marks, with none in the prime focal areas. The eagle"s chest or Liberty"s cheek may display light friction from the moment the coin spent in a mass canvas bag in Treasury vaults The far higher attractiveness that a MS65 Morgan dollar explains the large difference in price when compared to a MS63 the the same date.

Mint State 66

MS66 Morgan dollars are rare, even when contrasted to a MS65. Castle will have actually a clean, spicy strike. The MS66 Morgan dollar boasts a pleasing, full original luster. That has really few, very light clues or imperfections the barely detract from the coin"s an extremely attractive appearance.

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The details on this web page does not constitute an sell to buy or offer the coin(s) advert to. Statistics room for Mint State coins only. Proof and prooflike examples of this worry may have higher or lesser "finest known" and different record auction prices.