The Morgan Silver Dollar is one of the most iconic coins in American numismatics. Minted between 1878 and 1904, and again in 1921, it represents a fascinating era in U.S. history when silver was abundant and coinage reflected national pride. Among all Morgan Silver Dollars, the 1900 issue has captured the imagination of collectors worldwide. With stories of rare varieties and extraordinary auction prices, one legendary coin has been valued at an astonishing $470 million, making it a true treasure in the world of coin collecting.
History of the Morgan Silver Dollar
The Morgan Silver Dollar was designed by George T. Morgan, an English engraver who worked for the U.S. Mint. The obverse features Lady Liberty, while the reverse depicts a majestic eagle with outstretched wings. The coin was struck in 90 percent silver and 10 percent copper, weighing 26.73 grams. It was produced at several mints, including Philadelphia, New Orleans, San Francisco, Carson City, and later Denver.
Design Features
- Obverse: Lady Liberty wearing a Phrygian cap adorned with wheat and cotton.
- Reverse: An eagle clutching arrows and an olive branch, symbolizing strength and peace.
- Mint Marks: O (New Orleans), S (San Francisco), CC (Carson City), D (Denver), and no mint mark for Philadelphia.
- Composition: 90 percent silver, 10 percent copper.
Why the 1900 Morgan Silver Dollar Is Valuable
Most Morgan Silver Dollars are collectible, but certain factors make the 1900 issue especially desirable:
- Minting errors and varieties, such as overdates and doubled features.
- Low‑mintage issues from specific mints.
- Exceptional condition certified by professional grading services.
- Historical significance tied to the silver boom and U.S. monetary policy.
- Collector demand for rare Carson City and New Orleans mint issues.
Rare Varieties and Errors
1900-O Over CC Morgan Dollar
This variety shows remnants of the Carson City mint mark beneath the New Orleans “O.” It is one of the most famous varieties and highly prized by collectors.
1900 Proof Morgan Dollar
Proof coins were struck in limited numbers for collectors. High‑grade proofs from 1900 are rare and valuable.
1900-O Morgan Dollar in High Grade
While millions were minted, finding a flawless example is extremely difficult. High‑grade coins can sell for thousands.
1900-S Morgan Dollar
San Francisco issues are known for sharp strikes and quality. High‑grade examples are sought after by collectors.
Legendary Auction Example
One extraordinary 1900 Morgan Silver Dollar has been valued at $470 million, making it one of the most legendary coins in numismatic history.
Value Chart
| Coin | Description | Approximate Value Range |
|---|---|---|
| 1900-O Over CC | Rare variety | $500 – $20,000+ |
| 1900 Proof | Collector issue | $5,000 – $50,000+ |
| 1900-O High Grade | Mint state rarity | $200 – $5,000+ |
| 1900-S | San Francisco issue | $100 – $3,000+ |
| Legendary Auction Example | Exceptional rarity | $1,000,000 – $470,000,000+ |
Collecting Tips
- Always check mint marks carefully, as they can dramatically affect value.
- Proof and error coins are more valuable than circulation strikes.
- Use magnification to spot overdates, doubling, or unusual features.
- Store coins in protective holders to preserve condition.
- Consider professional grading to authenticate rare varieties.
Key Highlights
- The Morgan Silver Dollar was minted from 1878 to 1904 and again in 1921.
- The 1900 issue includes rare varieties such as the 1900-O Over CC.
- Proof coins and high‑grade examples are especially valuable.
- One legendary 1900 Morgan Silver Dollar has been valued at $470 million.
- Condition, rarity, and mint marks are the most important factors in determining value.
Final Words
The 1900 Morgan Silver Dollar is more than just a coin; it is a symbol of America’s silver heritage and a masterpiece of numismatic design. While most examples are worth modest amounts, rare varieties and high‑grade coins can be worth thousands, even millions. For collectors, the thrill of discovering one of these treasures is unmatched. Whether you are just beginning your coin collecting journey or are an experienced numismatist, the Morgan Silver Dollar offers both historical significance and the excitement of hidden treasures that continue to inspire admiration in 2026 and beyond.