Silver Dollar Value Today (Melt Value)
Silver dollar melt values
| Coin | Silver | ASW (ozt) | Melt / coin | Melt / $1 face | Melt / roll |
|---|---|---|---|---|---|
| Morgan / Peace silver dollar (90%)1878–1935 | 90% | 0.77344 | $41.75 | $41.75 | $834.92 (20 × $20 face) |
| Eisenhower dollar 1971–1976 S (40%)1971–1976 (S-mint) | 40% | 0.31610 | $17.06 | $17.06 | — |
| American Silver Eagle (.999)1986–present | 99.9% | 1.00000 | $53.97 | $53.97 | $1,079.48 (20 × $20 face) |
These are melt (metal) values. Rare dates, mint marks such as the 1893-S or 1895 Morgan, and coins in high grade can be worth many times their melt value.
Morgan silver dollar (1878–1904, 1921)
The Morgan dollar, designed by George T. Morgan, was struck from 1878 to 1904 and again in 1921. Each coin weighs 26.73 g and is 90% silver, 10% copper. That gives 26.73 × 0.90 = 24.057 g of silver, or 0.77344 troy ounces. Morgans were minted at Philadelphia (no mint mark), New Orleans (O), San Francisco (S), Carson City (CC) and Denver (D, 1921 only). The mint mark is on the reverse, below the wreath.
Worked example: five common circulated Morgans contain 5 × 0.77344 = 3.8672 ozt of silver. At $53.97/oz that is $208.73 of melt value.
Peace dollar (1921–1935)
The Peace dollar replaced the Morgan in late 1921 to commemorate the end of World War I. It uses the same 26.73 g, 90% silver standard, so it also contains 0.77344 ozt and has exactly the same melt value as a Morgan: $41.75 today. Peace dollars were struck at Philadelphia, Denver and San Francisco; the mint mark sits on the reverse near the eagle's tail feathers. The 1921 high-relief issue and 1928 Philadelphia coin are notable for collectors.
Eisenhower dollar: 40% silver or none
Eisenhower dollars (1971–1978) come in two compositions. Coins made for circulation are copper-nickel clad and have no silver — they are worth face value unless scarce. The San Francisco mint also struck 40% silver versions for collectors from 1971 to 1974 and in the 1976 bicentennial sets. These contain 0.3161 ozt of silver, a melt value of $17.06 today. To tell them apart, check for the S mint mark and look at the edge: silver-clad pieces show no copper stripe, while circulation clad coins show a visible copper core.
American Silver Eagle
Issued since 1986, the American Silver Eagle carries a $1 face value but contains a full troy ounce of .999 fine silver. Its melt value equals the spot price, $53.97. As a modern bullion coin it typically sells at a premium over spot, and proofs or special issues carry higher premiums still.
Silver dollar weights compared
- Morgan / Peace: 26.73 g gross, 90% silver, 0.77344 ozt ASW
- Eisenhower 40% (S-mint): 24.59 g gross, 40% silver, 0.3161 ozt ASW
- Eisenhower clad: 22.68 g, no silver
- American Silver Eagle: 31.1 g, 99.9% silver, 1.0 ozt
A digital scale is a quick sanity check: a Morgan or Peace dollar that weighs far less than 26.73 g may be heavily worn, damaged or counterfeit. Counterfeits of Morgan dollars are common, so magnet tests (silver is not magnetic), weight and diameter (38.1 mm) checks are worth doing before paying more than melt.
Selling silver dollars
Common-date circulated Morgan and Peace dollars usually sell for melt value plus a modest premium because collectors and stackers both want them. Dealers quote them per coin rather than by face value. Before selling a group, separate any Carson City (CC) coins, pre-1921 dates in nice condition and any uncirculated pieces — these can command collector prices well above melt. For a full breakdown of other coins, see the US silver coin melt value calculator.
Frequently asked questions
How much is a silver dollar worth today?
A Morgan or Peace silver dollar contains 0.77344 troy oz of silver, so its melt value is 0.77344 times the live silver spot price. Common circulated dates trade near or slightly above melt; rare dates and high grades are worth more.
How much silver is in a Morgan silver dollar?
A Morgan dollar weighs 26.73 grams and is 90% silver and 10% copper, giving 24.06 grams or 0.77344 troy ounces of pure silver. Peace dollars have exactly the same weight and silver content.
What is a Peace dollar worth?
Peace dollars, minted from 1921 to 1935, have the same 0.77344 troy oz of silver as a Morgan dollar, so their melt value is identical. Better dates and uncirculated examples carry collector premiums above melt.
Do Eisenhower dollars contain silver?
Only the S-mint collector versions struck from 1971 to 1976 are 40% silver, containing 0.3161 troy oz. Eisenhower dollars made for circulation are copper-nickel clad and contain no silver.
Are American Silver Eagles silver dollars?
Yes. The American Silver Eagle has a $1 face value and contains one troy ounce of .999 fine silver. It is a bullion coin, so it normally sells at a premium over its melt value.
Are newer dollar coins made of silver?
No. Susan B. Anthony, Sacagawea and Presidential dollars are made of copper-based alloys with no silver content. Their value is face value unless they are a scarce variety or error.