1893-S Morgan Silver Dollar

By 1893, the US was engulfed in a severe economic depression. The Sherman Silver Purchase Act of 1890 required the US government to purchase 4.5 million ounces of silver bullion monthly, but unexpectedly resulted in the depletion of federal gold reserves, pushing the nation to the brink of bankruptcy.

The massive influx of silver into the Treasury Department led to the coining of millions of unneeded silver dollars, most of which were stockpiled in federal vaults.

Soon after taking office in March 1893, President Grover Cleveland successfully pushed for the repeal of the Sherman Act. Morgan Silver Dollar production plunged dramatically, down 77% from the previous year, and down 96% from 1890, the first year of the Sherman Act.

Against this ominous backdrop, only 100,000 silver dollars were struck at the San Francisco Mint in 1893, leaving few examples for collectors of today to scramble for. The 1893-S is the granddaddy of all business strike Morgan dollars in terms of rarity and desirability. Few US coins can match the impressive rise in value and consistency of the 1893-S Morgan Silver Dollar.





1893-S Morgan Silver Dollar

1893-S Morgan Silver Dollar obv 1893-S Morgan Silver Dollar rev
Coin Photos courtesy of Heritage Auction Galleries


1893-S Morgan Silver Dollar Value Trend Chart

1893-S Morgan Silver Dollar (F-12 Condition)

As one might expect of one of the most important key dates in one of the most popular coin collector series, the Morgan Silver Dollar, the 1893-S has consistently shown amazing price increase consistency. Using Year 2000 as a baseline, the 1893-S Morgan Silver Dollar has multiplied in value many times, as charted by the blue line above. The red line charts the progress of the Rare Coin Values Index, which is composite percent change of a pre-selected group of 87 rare US coins. The Index baseline is year 2000 likewise. The objective of the Index is to follow the direction of the overall rare US coin market. The 1893-S Morgan Silver Dollar is one of the 87 coins that comprise the Index. Every month, the Index chart is updated.


 

Members of the Rare Coin Values Index
Date Coin Type Grade Est. Retail Value May 2012
1793 Liberty Cap Left Half Cent G-4 4500
1802 2/0 Rev 1802 Draped Bust Half Cent G-4 1000
1793 Chain AMERI. Flowing Hair Large Cent G-4 12500
1794 Starred Rev Liberty Cap Large Cent G-4 17500
1799 Draped Bust Large Cent G-4 4500
1856 Flying Eagle Cent G-4 7000
1877 Indian Head Cent G-4 800
1909-S VDB Lincoln Cent G-4 750
1914-D Lincoln Cent G-4 225
1922-D (No D) Lincoln Cent G-4 700
1864 Small Motto Two Cent F-12 400
1865 Three Cent Silver PF-65 1500
1884 Three Cent Nickel F-12 650
1795 Flowing Hair Half Dime G-4 1200
1797 Draped Bust, Small Eagle Half Dime G-4 1400
1800 Draped Bust, Large Eagle Half Dime G-4 950
1865 Seated Liberty Half Dime G-4 325
1879 Shield Nickel VG-8 550
1885 Liberty Nickel VG-8 750
1913-S Type 2 Buffalo Nickel G-4 350
1918/7-D Buffalo Nickel G-4 1300
1937-D 3 Legs Buffalo Nickel G-4 625
1796 Draped Bust Dime G-4 3000
1822 Capped Bust Dime G-4 1500
1871-CC Seated Liberty Dime G-4 2000
1895-O Barber Dime G-4 375
1916-D Mercury Dime VG-8 1500
1942/1-D Mercury Dime VG-8 650
1875-CC Twenty Cent G-4 400
1796 Draped Bust, Small Eagle Quarter G-4 12500
1804 Draped Bust, Large Eagle Quarter G-4 4500
1823 Capped Bust Quarter G-4 40000
1870-CC Seated Liberty Quarter G-4 10000
1896-S Barber Quarter G-4 1000
1901-S Barber Quarter G-4 5000
1916 Standing Liberty Quarter G-4 2900
1918/7-S Standing Liberty Quarter G-4 1550
1923-S Standing Liberty Quarter G-4 300
1932-D Washington Quarter F-12 200
1794 Flowing Hair Half Dollar G-4 5000
1796 16 Stars Draped Bust Small Eagle Half Dollar G-4 35000
1815/12 Capped Bust Half Dollar G-4 1750
1836 Reed Edge Capped Bust Half Dollar G-4 1250
1870-CC Seated Liberty Half Dollar G-4 900
1892-O Barber Half Dollar G-4 300
1921-D Walking Liberty Half Dollar VG-8 450
1938-D Walking Liberty Half Dollar VG-8 100
1953-S Franklin Half Dollar MS-65 FBL 25000
1794 Flowing Hair Silver Dollar G-4 60000
1796 Draped Bust Small Eagle Silver Dollar G-4 1500
1801 Draped Bust Large Eagle Silver Dollar G-4 1250
1836 Gobrecht Dollar, Name on Base, Circ. Issue XF-40 12500
1873-CC Seated Liberty Dollar G-4 7500
1879 Trade Dollar PF-65 12750
1889-CC Morgan Silver Dollar F-12 1000
1893-S Morgan Silver Dollar F-12 4250
1895 Morgan Silver Dollar F-12 (PF Only) 35000
1928 Peace Dollar F-12 375
1849-C Cl. Wreath Type One Gold Dollar VF-20 1100
1855-D Type Two Gold Dollar VF-20 6600
1861-D Type Three Gold Dollar VF-20 8500
1796 No Stars Capped Bust $ 2.50 Quarter Eagle F-12 52500
1808 Capped Draped Bust $2.50 Quarter Eagle F-12 27500
1826 Capped Head $2.50 Quarter Eagle F-12 8450
1838-C Classic Head $2.50 Quarter Eagle F-12 1150
1848 CAL. Coronet $2.50 Quarter Eagle F-12 38500
1856-D Coronet $2.50 Quarter Eagle F-12 5000
1911-D Indian Head $2.50 Quarter Eagle XF-40 4250
1854-D Indian Head Three Dollar F-12 9250
1795 Capped Bust Small Eagle $5.00 Half Eagle F-12 20000
1800 Capped Bust Large Eagle $5.00 Half Eagle F-12 4000
1808 Capped Draped Bust $5.00 Half Eagle F-12 3250
1821 Capped Head $5.00 Half Eagle F-12 17500
1833 Large Date Capped Head $5.00 Half Eagle F-12 20000
1834 Cross 4 Classic Head $5.00 Half Eagle F-12 1950
1861-D Coronet $5.00 Half Eagle F-12 6500
1870-CC Coronet $5.00 Half Eagle F-12 6250
1909-O Indian Head $5.00 Half Eagle XF-40 6000
1795 9 Leaves Capped Bust Small Eagle $10 Eagle F-12 47500
1804 Capped Bust Large Eagle $10 Eagle F-12 22500
1841-O Coronet $10 Eagle F-12 4000
1879-CC Coronet $10 Eagle F-12 9400
1911-D Indian Head $10 Eagle XF-40 1450
1930-S Indian Head $10 Eagle XF-40 12500
1859-O Coronet $20 Double Eagle VF-20 9500
1907 Wire Rim St-Gaudens $20 Double Eagle XF-40 11000
1921 St-Gaudens $20 Double Eagle XF-40 47500


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The RCVI 87