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
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 Apr 2023
1793 Liberty Cap Left Half Cent G-4 4500
1802 2/0 Rev 1802 Draped Bust Half Cent G-4 1100
1793 Chain AMERI. Flowing Hair Large Cent G-4 10000
1794 Starred Rev Liberty Cap Large Cent G-4 35000
1799 Draped Bust Large Cent G-4 6500
1856 Flying Eagle Cent G-4 6500
1877 Indian Head Cent G-4 600
1909-S VDB Lincoln Cent G-4 625
1914-D Lincoln Cent G-4 170
1922-D (No D) Lincoln Cent G-4 550
1864 Small Motto Two Cent F-12 425
1865 Three Cent Silver PF-65 1750
1884 Three Cent Nickel F-12 1150
1795 Flowing Hair Half Dime G-4 1500
1797 Draped Bust, Small Eagle Half Dime G-4 1500
1800 Draped Bust, Large Eagle Half Dime G-4 1500
1865 Seated Liberty Half Dime G-4 325
1879 Shield Nickel VG-8 575
1885 Liberty Nickel VG-8 675
1913-S Type 2 Buffalo Nickel G-4 325
1918/7-D Buffalo Nickel G-4 775
1937-D 3 Legs Buffalo Nickel G-4 475
1796 Draped Bust Dime G-4 3500
1822 Capped Bust Dime G-4 2000
1871-CC Seated Liberty Dime G-4 3250
1895-O Barber Dime G-4 525
1916-D Mercury Dime VG-8 1250
1942/1-D Mercury Dime VG-8 425
1875-CC Twenty Cent G-4 250
1796 Draped Bust, Small Eagle Quarter G-4 12500
1804 Draped Bust, Large Eagle Quarter G-4 4000
1823 Capped Bust Quarter G-4 40000
1870-CC Seated Liberty Quarter G-4 9000
1896-S Barber Quarter G-4 750
1901-S Barber Quarter G-4 5500
1916 Standing Liberty Quarter G-4 2900
1918/7-S Standing Liberty Quarter G-4 1150
1923-S Standing Liberty Quarter G-4 300
1932-D Washington Quarter F-12 90
1794 Flowing Hair Half Dollar G-4 5500
1796 16 Stars Draped Bust Small Eagle Half Dollar G-4 42500
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-4 325
1921-D Walking Liberty Half Dollar VG-8 350
1938-D Walking Liberty Half Dollar VG-8 60
1953-S Franklin Half Dollar MS-65 FBL 27500
1794 Flowing Hair Silver Dollar G-4 75000
1796 Draped Bust Small Eagle Silver Dollar G-4 2000
1801 Draped Bust Large Eagle Silver Dollar G-4 1100
1836 Gobrecht Dollar, Name on Base, Circ. Issue XF-40 12500
1873-CC Seated Liberty Dollar G-4 12000
1879 Trade Dollar PF-65 6900
1889-CC Morgan Silver Dollar F-12 1250
1893-S Morgan Silver Dollar F-12 4000
1895 Morgan Silver Dollar F-12 (PF Only) 35000
1928 Peace Dollar F-12 225
1849-C Cl. Wreath Type One Gold Dollar VF-20 2500
1855-D Type Two Gold Dollar VF-20 25000
1861-D Type Three Gold Dollar VF-20 55000
1796 No Stars Capped Bust $ 2.50 Quarter Eagle F-12 70250
1808 Capped Draped Bust $2.50 Quarter Eagle F-12 55000
1826 Capped Head $2.50 Quarter Eagle F-12 17000
1838-C Classic Head $2.50 Quarter Eagle F-12 4500
1848 CAL. Coronet $2.50 Quarter Eagle F-12 40000
1856-D Coronet $2.50 Quarter Eagle F-12 15000
1911-D Indian Head $2.50 Quarter Eagle XF-40 3750
1854-D Indian Head Three Dollar F-12 32500
1795 Capped Bust Small Eagle $5.00 Half Eagle F-12 28500
1800 Capped Bust Large Eagle $5.00 Half Eagle F-12 4500
1808 Capped Draped Bust $5.00 Half Eagle F-12 4000
1821 Capped Head $5.00 Half Eagle F-12 32500
1833 Large Date Capped Head $5.00 Half Eagle F-12 22500
1834 Cross 4 Classic Head $5.00 Half Eagle F-12 1950
1861-D Coronet $5.00 Half Eagle F-12 30000
1870-CC Coronet $5.00 Half Eagle F-12 30000
1909-O Indian Head $5.00 Half Eagle XF-40 8000
1795 9 Leaves Capped Bust Small Eagle $10 Eagle F-12 108500
1804 Capped Bust Large Eagle $10 Eagle F-12 20000
1841-O Coronet $10 Eagle F-12 9750
1879-CC Coronet $10 Eagle F-12 22000
1911-D Indian Head $10 Eagle XF-40 2350
1930-S Indian Head $10 Eagle XF-40 31250
1859-O Coronet $20 Double Eagle VF-20 20000
1907 Wire Rim St-Gaudens $20 Double Eagle XF-40 11500
1921 St-Gaudens $20 Double Eagle XF-40 47500


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See the 87 Index Coins