1878 Morgan Silver Dollar Coin Value (Errors List, “CC”, “S” & No Mint Mark Worth)

The 1878 Morgan Silver Dollar holds a unique position in American numismatics as one inaugural year of the most popular silver dollar series ever produced. This first-year issue features a wide array of varieties distinguished by the number of tail feathers on the eagle’s reverse, the breast shape (flat versus rounded), and mint mark location, creating exceptional collecting opportunities for enthusiasts at every level.

Understanding the 1878 Morgan silver dollar value requires examining these critical variety differences alongside condition grades. Values fluctuate dramatically across different combinations, from as little as $15 for heavily circulated San Francisco specimens to over $207,000 for rare proof variants in pristine condition.

Whether you’re a seasoned collector building a comprehensive set or just discovered an 1878 Morgan Dollar in an old collection, knowing the specific variety and accurately assessing condition are essential steps to determining your coin’s true worth.

 

1878 Morgan Silver Morgan Value By Variety

The value of 1878 Morgan Dollars varies significantly based on variety type (8TF, 7/8TF, or 7TF reverse variations), mint mark location, surface characteristics (standard, PL, or DMPL), and overall condition grade. If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 100 Rarest Silver Dollar Coins Worth Money (Most Expensive)

 

Top 10 Most Valuable 1878 Morgan Silver Dollar Worth Money

The 1878 7 Tail Feathers Reverse of 1879 in MS64 condition dominates the top position at $155,250, reflecting its exceptional rarity and historical significance as the scarcest first-year variety. This remarkable valuation demonstrates how the correct identification of reverse type can multiply a coin’s value many times over comparable varieties.

High-grade examples consistently command premium prices across all varieties, with coins graded MS64 and above representing the elite tier of 1878 Morgan Dollar collecting. The presence of multiple MS66 and MS67 specimens in the top ten underscores the importance of superior preservation and eye appeal in determining market value.

Proof strikes secure prominent positions within the rankings, with the 1878 7TF Reverse of 1878 PR67 achieving $84,000 and the 1878 8TF PR66 reaching $56,400. These specially struck presentation pieces represent the pinnacle of Mint craftsmanship and were produced in extremely limited quantities, making them highly coveted by advanced collectors.

The 8 Tail Feathers variety appears multiple times in the top ten despite its brief production run of only two weeks in March 1878. Coins graded MS67 command $70,500 and $55,813 respectively, while an MS66 example reaches $58,750, demonstrating strong collector demand for this historically significant first-strike design.

Both Reverse of 1878 and Reverse of 1879 varieties secure multiple positions in the rankings, though the latter generally achieves higher prices at equivalent grades due to its significantly lower population. The price differential between reverse types at similar grade levels provides clear guidance for collectors prioritizing rarity versus accessibility in their acquisition strategies.

 

History of The 1878 Morgan Silver Dollar

The 1878 Morgan Dollar marked the first year of this iconic series, arriving five years after the Coinage Act of 1873 had ended silver dollar production and placed the United States on the gold standard. Following the Panic of 1873 and the subsequent economic depression, western silver mining interests lobbied intensely to restore silver’s monetary role.

On February 28, 1878, Congress overrode President Rutherford B. Hayes’ veto to pass the Bland-Allison Act, which required the Treasury to purchase between two and four million dollars’ worth of silver bullion at market value each month. Production of the new Morgan dollar finally commenced on March 11, 1878, at 3:17 p.m. at the Philadelphia Mint, more than a week after the Act’s passage.

The first acceptable strike was given to President Hayes, while the second and third pieces went to Treasury Secretary John Sherman and Mint Director Henry Linderman. The Cincinnati Commercial said the eagle on the reverse resembled a “British grouse,” while the American Journal of Numismatics suggested the new dollar was the “crown” of monstrosities from the U.S. Mint.

The original dies produced at Philadelphia featured 8 tail feathers on the eagle, and these coins were struck for approximately two weeks with an estimated mintage of 750,000 to one million pieces. Within two weeks of production, Mint Director Linderman visited Philadelphia with changes, wanting to reduce the relief and change the tail feathers from 8 to 7, as earlier U.S. coins depicted the bald eagle with an odd number of tail feathers.

Because preparation of new dollar dies for all mints would take several weeks, the Philadelphia Mint simply impressed the new 7 tail feather design over the older 8-tailed feather dies. This created the famous 7/8 tail feathers variety, which was struck for approximately 10 days to two weeks with an estimated mintage of around 500,000 coins.

The final version featured 7 tail feathers with no traces of the original 8 feathers, and was divided into two types: the “Reverse of 1878” with a flat eagle breast and parallel top arrow feather, and the scarcer “Reverse of 1879” with a convex breast and slanted arrow feather.

Dies were eventually sent to the Western mints, arriving at both San Francisco and Carson City on April 16, 1878, allowing these facilities to begin production. The mint mark appears on the reverse above the letters “D” and “O” in “DOLLAR” – “S” for San Francisco, “CC” for Carson City, while Philadelphia coins bear no mint mark.

The Morgan Dollar was heavy, almost palm-sized, and not widely considered a “people’s coin,” with the American public initially giving it a mixed reception despite its eventual legendary status. The 1878 Morgan Silver Dollar holds special significance as the inaugural year of the series, marking the return of silver dollar coinage and establishing George T. Morgan’s design that would endure for decades.

Also Read: Top 100 Most Valuable Morgan Silver Dollar Coins Worth Money List

Is Your 1878 Morgan Silver Dollar Rare?

Determining the rarity of your 1878 Morgan Dollar requires expert analysis of its variety, mint mark, and condition. Our CoinValueChecker App instantly evaluates these critical factors to reveal your coin’s true scarcity and market value.

 

Key Features of The 1878 Morgan Silver Dollar

The 1878 Morgan Dollar marks one inaugural year of this iconic series, representing the first standard silver dollar minted since the Coinage Act of 1873 ended production of the Seated Liberty dollar. As a first-year issue, the 1878 Morgan holds special historical significance in American numismatic history.

The Obverse Of The 1878 Morgan Silver Dollar

Liberty faces left wearing a Phrygian cap with the word “LIBERTY” inscribed on the headband, symbolizing freedom as worn by ex-Roman slaves and ancient Phrygians. A crown of cotton bolls and wheat sprigs adorns her hair, representing American agriculture and symbolizing unity between the agrarian North and South.

The Latin motto “E PLURIBUS UNUM” arches above Liberty’s portrait, while the date “1878” appears at the bottom. Thirteen six-pointed stars representing the original thirteen colonies are arranged around the coin’s edges between the top inscription and date.

The portrait was modeled after Anna Willess Williams, a Philadelphia schoolteacher who sat for Morgan on five occasions. 

The Reverse Of The 1878 Morgan Silver Dollar

The reverse features an American bald eagle with outstretched wings, clutching an olive branch in its left talon and a bundle of arrows in its right, symbolizing peace and military readiness. The motto “IN GOD WE TRUST” is nestled between the eagle’s wings, with “UNITED STATES OF AMERICA” arcing across the top and “ONE DOLLAR” displayed at the bottom.

A laurel wreath curves below the eagle’s wings, with a ribbon holding it together tied in two loops. Two six-pointed stars separate the upper legend from the lower denomination inscription.

The 1878 reverse is distinguished by its tail feather variations—the earliest coins display eight tail feathers, while subsequent production changed to seven tail feathers in multiple reverse types. The mint mark, if present, appears on the reverse between the letters “D” and “O” in “DOLLAR,” indicating production at San Francisco (S), Carson City (CC), or no mark for Philadelphia.

Other Features Of The 1878 Morgan Silver Dollar

The coin features a reeded edge, vertical grooves running around the circumference as a security measure against counterfeiting and clipping. Denticles, tooth-like ornamental beading, frame both the obverse and reverse rims, adding structural integrity and aesthetic detail to the design.

The coin measures 2.40 millimeters in thickness, creating a substantial feel appropriate for America’s premier silver dollar. The composition specifications of .900 fine silver with .100 copper created durability while maintaining precious metal content.

The aging of steel dies during extended production created additional diagnostic characteristics, including die cracks and die breaks that were transferred onto coins, forming the basis for VAM variety identification.

Also Read: Top 80+ Most Valuable Sacagawea Dollar Worth Money (2000-P to Present)

 

1878 Morgan Silver Dollar Mintage & Survival Data

The 1878 Morgan Dollar production totaled approximately 22.7 million coins across all mints and varieties, yet survival rates vary dramatically by type. The San Francisco Mint produced the highest quantity with 9,774,000 pieces, of which an estimated 2,990,000 survive today, representing a robust 30.59% survival rate.

Philadelphia’s production featured multiple reverse varieties, with the 7 Tail Feather issues dominating at 9,759,300 mintage each for both Reverse of 1878 and Reverse of 1879 types. Despite identical production numbers, the Reverse of 1879 shows significantly higher survival at 300,000 coins (3.07%) compared to the Reverse of 1878’s 175,000 (1.79%).

The scarce 8 Tail Feathers variety, produced only during the first two weeks of minting, had a limited mintage of just 749,500 pieces. Remarkably, this variety demonstrates the highest survival rate among business strikes at 33.36%, with approximately 250,000 coins remaining today.

The transitional 7/8 Tail Feathers Strong variety presents a paradox, despite a substantial mintage of 9,759,300 coins, it exhibits the lowest survival rate at merely 1.52% with only 148,650 estimated survivors. This suggests either higher attrition through circulation and melting, or challenges in variety identification among collectors.

Carson City production reached 2,212,000 pieces with an estimated 295,000 surviving (13.34% survival rate). This relatively strong preservation rate reflects the popularity and careful storage of CC-marked coins among collectors over the decades.

Proof strikes present exceptional rarity, with mintages ranging from 250 to 500 pieces per variety. The 7 Tail Feathers Reverse of 1878 Proof shows the strongest survival at 40%, while the 7 Tail Feathers Reverse of 1879 Proof varieties demonstrate extremely low survival rates of only 6% for standard proofs and 4.8% for cameo specimens, making them among the rarest 1878 Morgan Dollar proof variants.

Also Read: Top 40+ Most Valuable Presidential Dollar Coins Worth Money

 

The Easy Way to Know Your 1878 Morgan Silver Dollar Value

Determining your 1878 Morgan Dollar’s value requires examining some critical factors: variety (8 Tail Feathers, 7/8 Tail Feathers, or 7 Tail Feathers), mint mark location, and coin condition grade. The mint mark appears on the reverse below the eagle’s tail feathers—”CC” for Carson City, “S” for San Francisco, or no mark for Philadelphia.

Coin condition is graded on a scale from 1 to 70, with higher grades commanding significantly greater values. A common circulated piece may be worth $40-60, while an MS65 specimen can reach thousands of dollars, higher grade can acheive tens of thousands of dollars. Additional features like Prooflike (PL) or Deep Mirror Prooflike (DMPL) surfaces, as well as specific VAM varieties with doubling or die errors, can substantially increase value.

Rather than spending hours researching price guides and attempting manual identification, our CoinValueChecker App instantly analyzes your coin’s variety, mint mark, and condition through advanced image recognition technology. Simply snap a photo, and receive an accurate valuation within seconds—eliminating guesswork and ensuring you understand your coin’s true market worth. Download now to discover what your 1878 Morgan Dollar is really worth.

 

1878 Morgan Silver Dollar Value Guides

The 1878 Morgan Silver Dollar represents one historic year of America’s most beloved silver dollar series, featuring an unprecedented diversity of varieties that fundamentally shaped numismatic collecting. This first-year issue witnessed unprecedented design evolution as the U.S. Mint experimented with eagle tail feather counts, breast contours, and arrow feather arrangements across multiple die revisions.

This experimental first year produced twelve major collecting categories spanning business strikes, transitional varieties, branch mint issues, and proof specimens. Philadelphia’s role as the primary production facility generated four distinct reverse combinations as engravers modified tail feather counts, eagle breast contours, and arrow feather arrangements across multiple die revisions. Meanwhile, Carson City and San Francisco contributed their own distinctive characteristics through unique striking qualities, survival patterns, and regional minting circumstances.

1878 Roosevelt Morgan Silver Dollar Varieties:

• 1878 8TF Morgan Silver Dollar: Original eight tail feather design, scarce in gem grades, first Morgan reverse type.
• 1878 7/8TF Strong Morgan Silver Dollar: Transitional overstrike variety showing five or more original feathers beneath new design.
• 1878 7TF Reverse of 1878 Morgan Silver Dollar: Most accessible Philadelphia variety, flat eagle breast with parallel arrow feather.
• 1878 7TF Reverse of 1879 Morgan Silver Dollar: Scarcest Philadelphia issue, rounded breast and slanted arrow, highly sought after.
• 1878-CC Morgan Silver Dollar: Rarest mint location, well-struck Carson City production, commands consistent premiums.
• 1878-S Morgan Silver Dollar: San Francisco issue with excellent luster, heavily bagmarked, widely available in mint state.
• 1878 8TF Proof Morgan Silver Dollar: First proof Morgan striking, limited production, scarce survivors today.
• 1878 8TF CAM Morgan Silver Dollar: Extremely rare cameo proof with strong frosted contrast, premier first-year specimen.
• 1878 7TF Reverse of 1878 Proof Morgan Silver Dollar: Limited proof striking of second reverse, exceptional rarity, significant auction prices.
• 1878 7TF Reverse of 1878 CAM Morgan Silver Dollar: Cameo proof with superior eye appeal, highly prized by advanced collectors.
• 1878 7TF Reverse of 1879 Proof Morgan Silver Dollar: Rarest reverse proof type, seldom encountered, commands substantial premiums.
• 1878 7TF Reverse of 1879 CAM Morgan Silver Dollar: Ultimate first-year rarity combining scarcest reverse with cameo contrast, legendary status.

Understanding these distinct categories is essential for collectors and investors, as each variety carries unique characteristics, production circumstances, and survival patterns that dramatically affect both historical significance and market value. Each category offers collectors distinct opportunities ranging from accessible entry points to elite rarities commanding five- and six-figure prices at auction.

 

1878 8TF Morgan Silver Dollar Value

The 1878 8TF Morgan Silver Dollar stands as the inaugural striking of America’s most beloved silver dollar series, featuring an ornithologically incorrect design with eight tail feathers despite bald eagles naturally possessing only seven. This brief production run lasted merely two weeks in March 1878 before the Mint corrected the error, resulting in just 749,500 pieces struck at the Philadelphia facility.

The three distinct surface designations, MS, PL, and DMPL, reflect the natural die deterioration cycle during the minting process. When fresh dies or recently repolished dies first enter production, the initial several hundred coins exhibit deeply reflective mirror fields, earning the coveted DMPL (Deep Mirror Prooflike) designation with surfaces approaching true proof quality.

As the dies continue striking additional coins, the mirror finish gradually diminishes, creating PL (Prooflike) examples with moderate reflectivity before eventually producing standard MS (Mint State) coins with typical satiny luster.

Standard Mint State examples display typical satiny luster with frosty surfaces across both devices and fields. These business strike coins represent the vast majority of surviving 1878 8TF dollars, ranging from heavily bagmarked lower mint state specimens to pristine gem examples.

Values for MS examples span dramatically across the grading spectrum—from $150-$300 for MS60-62 grades to $500-$1,500 for choice MS64 specimens. The legendary MS67 example achieved a remarkable auction record of $55,813 in June 2015 at Legend Rare Coin Auctions, demonstrating the premium collectors place on exceptional preservation.

The following table documents this variety’s complete auction history across all certified grades.

Recent market activity demonstrates sustained collector interest in this first-strike design throughout the past year.

 

1878 7/8TF Strong Morgan Silver Dollar Value

The 1878 7/8TF Strong Morgan Silver Dollar represents a fascinating transitional variety where the Mint corrected the tail feather error by striking new seven-feather dies over the original eight-feather design without completely removing the underlying impression.

The “Strong” designation indicates that five or more of the original eight tail feathers remain clearly visible beneath the seven-feather design, distinguishing it from weaker examples where fewer underlying feathers can be detected.

This emergency solution arose when the Mint needed to correct the ornithologically incorrect eight-feather design quickly but lacked sufficient time to manufacture entirely new dies from scratch. The resulting overstriking created a distinctive variety where careful examination reveals the ghostly remnants of the original feather pattern beneath the corrected design, making each specimen a tangible record of the Mint’s hasty design modification process.

Standard MS examples remain common through MS64 grades, with values ranging from $100-$200 for lower mint state specimens to $500-$1,200 for MS64 pieces.

The variety becomes significantly scarcer in Gem grades, with an MS66 example realizing $15,010 at Bowers & Merena in January 2011, while another MS66 achieved $9,600 in June 2018, demonstrating strong collector demand for premium quality specimens with pronounced feather visibility.

A comprehensive auction record reveals how this transitional variety performs across different quality levels and market cycles.

The chart below illustrates steady trading patterns and consistent demand among variety specialists over recent months.

 

1878 7TF Reverse of 1878 Morgan Silver Dollar Value

The 1878 7TF Reverse of 1878 Morgan Silver Dollar represents the most accessible Philadelphia variety among first-year issues, distinguished by its flat or concave eagle breast and parallel arrow feather arrangement (PAF).

This Second Reverse design emerged after the Mint corrected the ornithologically incorrect eight-feather error, with estimated production reaching approximately 7.2 million pieces based on population reports and observed specimens in the marketplace.

Gem examples in higher grades represent significantly greater challenges for collectors, with an MS66+ specimen achieving $43,475 at Legend Rare Coin Auctions in July 2018, demonstrating strong market demand for premium quality survivors. The variety’s widespread original distribution resulted in deep supplies of circulated pieces but relatively limited survival in pristine preservation states.

Prooflike and Deep Mirror Prooflike examples command premiums for their reflective surfaces, with an MS66 PL specimen realizing $9,988 in February 2017. These special surface designations remain scarce compared to standard strikes, particularly in grades above MS65 where both PL and DMPL examples approach genuine rarity status among advanced Morgan Dollar variety collectors.

The detailed auction table below captures price performance spanning multiple decades of numismatic sales.

Market activity trends indicate stable collector engagement with this most accessible Philadelphia variety.

 

1878 7TF Reverse of 1879 Morgan Silver Dollar Value

The 1878 7TF Reverse of 1879 Morgan Silver Dollar represents the scarcest Philadelphia variety among first-year issues, distinguished by its rounded or convex eagle breast and slanted top arrow feather (SAF) that became the standard reverse design for all subsequent Morgan Dollars from 1879 through 1904.

This Third Reverse design introduced improved striking characteristics that eliminated the soft-strike appearance of earlier flat-breasted varieties, with estimated production reaching only approximately two million pieces—making it twice as scarce as its Reverse of 1878 counterpart.

The Reverse of 1879 can be distinguished from the more common Reverse of 1878 through two key diagnostic features: a rounded, convex eagle breast versus a flat, concave breast, and a slanted top arrow feather versus a parallel arrow feather. These identifying characteristics established the definitive Morgan Dollar reverse design that would remain standard throughout the series, marking this 1878 variety as historically significant beyond its scarcity alone.

An extraordinary AU Details example achieved $50,000 on eBay in May 2021, illustrating that exceptional eye appeal and originality can command significant premiums even for coins with technical impairments.

Historical auction results establish a well-documented pricing trajectory for this scarcer reverse type.

Contemporary market trends reflect growing recognition of this variety’s relative scarcity among first-year issues.

 

1878-CC Morgan Silver Dollar Value

The 1878-CC Morgan Silver Dollar marks the inaugural year of Carson City Mint production for the Morgan Dollar series, holding special appeal among collectors due to the legendary status of the “CC” mintmark representing Nevada’s storied silver mining heritage.

With a production of 2,212,000 pieces, this first-year Carson City issue utilized the Second Reverse design featuring the flat or concave eagle breast and parallel arrow feather characteristic of Philadelphia’s mid-year production.

The 1878-CC typically displays excellent striking quality with full feather detail and lustrous, frosty surfaces, though the vast majority exhibit extensive bagmarks far more pronounced than later Carson City issues from the mid-1880s.

Meanwhile, an estimated one million or more pieces were melted under the 1915 Pittman Act provisions, while approximately 60,993 examples were held back from the 1962-1964 Treasury release and subsequently sold by the General Services Administration (GSA), providing modern collectors with access to original mint-sealed specimens that often command premiums for their historical packaging and guaranteed authenticity.

Standard MS examples remain fairly accessible in lower mint state grades below MS66. A dramatic price jump occurs at the MS66 level, with specimens commanding $5,750, while the condition census MS67 examples value at 65,000 represent genuine rarities, with the auction record of $34,500 achieved in January 2009 at Heritage Auctions demonstrating the premium placed on exceptional preservation.

The auction record table showcases the premium prices commanded by this legendary Carson City issue.

Market activity patterns reveal consistent collector pursuit of “CC” mintmarked examples throughout all seasons.

 

1878-S Morgan Silver Dollar Value

The 1878-S Morgan Silver Dollar represents the San Francisco Mint’s inaugural contribution to the Morgan Dollar series, exclusively featuring the Second Reverse design with seven tail feathers, parallel arrow feather, and flat eagle breast characteristic of the mid-year production standard.

With a substantial production of 9,774,000 pieces, this issue became particularly significant due to the San Francisco Mint’s practice of storing an estimated five to six million coins in reserve, subsequently releasing massive quantities during the 1950s Treasury dispersals and the 1962-1964 distribution period.

The 1878-S typically exhibits excellent striking quality with full design details and booming luster, distinguishing it from many later San Francisco issues that display softer strikes or weaker breast feather definition.

At the condition census level, only one MS67+ example was recorded in professional grading services, while a single MS68 specimen achieved $35,938 in January 2009 at Heritage Auctions, establishing this grade as the finest known and representing the ultimate prize for advanced San Francisco Morgan Dollar specialists.

Prooflike examples command premiums for their reflective surfaces, though they remain available with relative ease compared to Philadelphia varieties, while Deep Mirror Prooflike specimens prove significantly scarcer. An MS66 DMPL specimen realized $15,275 in May 2020 at Legend Rare Coin Auctions, demonstrating strong collector demand for premium surface characteristics.

A complete listing of auction milestones provides insight into long-term value trends for this San Francisco issue.

The market activity chart tracks buyer interest for this widely available variety.

 

1878 8TF Proof Morgan Silver Dollar Value

Proof Morgan Dollars made their historic debut in 1878 with the eight-feather reverse design, representing the Philadelphia Mint’s first specially struck presentation pieces in the new silver dollar series mandated by the Bland-Allison Act.

With reported production estimates ranging from 500 to 750 pieces, the actual survival rate suggests significantly fewer examples exist today, with approximately 400 specimens believed to survive across all grade levels, making this the inaugural proof issue substantially scarcer than mintage figures alone would indicate.

The 1878 8TF Proof exhibits the characteristic proof striking qualities of deeply mirrored fields contrasting against sharply rendered devices, though the ornithologically incorrect eight-feather design adds unique historical significance as a brief experimental phase before the Mint adopted the corrected seven-feather standard.

Gem proof examples become genuinely rare above the PR64 level, with PR65 specimens commanding substantial premiums for their superior preservation and eye appeal. A PR66 example achieved $56,400 in January 2017 at Heritage Auctions, demonstrating strong collector demand for premium quality survivors free from the hairlines and friction typical of lower proof grades.

The following comprehensive table documents auction achievements across the full spectrum of proof grades.

Market dynamics illustrate strong specialist demand for these first-year presentation strikes.

 

1878 8TF CAM Morgan Silver Dollar Value

The cameo designation elevates the 1878 8TF Proof Morgan Dollar to elite status through dramatic visual contrast, where heavily frosted devices stand in sharp relief against deeply mirrored fields, creating a stunning three-dimensional appearance unmatched by standard proof strikes.

The technical production circumstances that create cameo proofs demand freshly prepared dies with heavily frosted device areas paired with highly polished field surfaces, a combination achieved only during the earliest strikes from new die pairs before repeated striking gradually diminishes the frost intensity.

Therefore, this manufacturing reality means cameo examples represent the very first coins struck from each proof die pair, making them not only visually superior but also technically significant as the premier specimens of 1878 8TF Proof production.

Premium pricing reflects the exceptional visual appeal and technical superiority of cameo examples across all grade levels, with values substantially exceeding standard proof counterparts. A PR67 CAM example achieved $70,500 in January 2015 at Heritage Auctions, though this represents a significant discount compared to the condition census PR67+ CAM specimen valued at $120,000.

Auction history reveals the significant premiums achieved by superior cameo examples at major numismatic sales.

Market patterns demonstrate elite collector focus on this visually exceptional surface designation.

 

1878 7TF Reverse of 1878 Proof Morgan Silver Dollar Value

Following the correction of the ornithologically incorrect eight-feather design, the Philadelphia Mint produced an estimated 250 proof strikes of the 1878 7TF Reverse of 1878 Morgan Dollar, representing the second proof variety in the inaugural Morgan Dollar series and featuring the Second Reverse design with flat eagle breast and parallel arrow feather.

This extremely limited production makes the 1878 7TF Reverse of 1878 Proof substantially scarcer than its business strike counterpart, with proof specimens exhibiting the characteristic deeply mirrored fields and sharply rendered devices that distinguish specially struck presentation pieces from circulation-intended coinage.

Proof strikes of this variety typically demonstrate light striking weakness above Liberty’s ear, a common characteristic noted across early Morgan Dollar proof production, while exhibiting medium to low cameo contrast between frosted devices and mirror fields.

The combination of limited original production and typical early proof handling practices—which often lacked modern protective standards—means that finding examples with strong eye appeal and minimal hairlining presents genuine challenges for collectors pursuing premium quality specimens.

Values escalate dramatically as preservation quality improves, with PR65 examples valued at $25,000 and PR65+ specimens reaching $32,500. The variety becomes substantially scarcer in gem grades, with PR66 examples commanding $50,000 and PR67 pieces at $85,000.

The detailed auction record below chronicles sales of this limited mintage proof variety over time.

Market activity reflects specialized collector interest in securing examples of this scarce proof issue.

 

1878 7TF Reverse of 1878 CAM Morgan Silver Dollar Value

The cameo designation transforms the already rare 1878 7TF Reverse of 1878 Proof into an elite collectible through exceptional visual presentation, where heavily frosted devices create dramatic contrast against deeply mirrored fields producing a striking three-dimensional appearance.

Market recognition of superior cameo characteristics establishes significant value premiums across all grade levels, with PR62+ CAM examples commanding $8,500 and PR63 specimens reaching $13,000. The progression continues through PR63+ at $15,500 and PR64 at $18,500, while PR66 examples achieve $72,500, demonstrating consistent collector appreciation for exceptional surface quality.

A PR65 CAM specimen realized $64,625 in October 2012 at Heritage Auctions, while current market valuations place PR65 CAM examples at $47,500, reflecting the premium placed on cameo contrast within this already scarce proof variety.

Historical auction data establishes pricing benchmarks for this challenging cameo proof designation.

Recent market trends indicate heightened awareness of this variety’s superior visual characteristics.

 

1878 7TF Reverse of 1879 Proof Morgan Silver Dollar Value

The 1878 7TF Reverse of 1879 Proof represents the rarest proof variety in the entire first-year Morgan Dollar series, with an estimated production of merely 50 proof strikes despite records indicating 250 pieces across all 1878 proof varieties.

This Third Reverse design featuring the rounded eagle breast and slanted arrow feather established the definitive reverse standard that would persist throughout the Morgan Dollar series from 1879 through 1904, making this proof striking historically significant as both the one of scarcest first-year variety and the prototype for all subsequent production.

The extreme rarity of this proof variety reflects in exceptionally limited PCGS population figures, with only seven examples certified across all grades: two in PR61, one in PR62, two in PR63, and two in PR64. No examples have been certified above PR64 by PCGS, establishing this grade as the condition census and highlighting the extraordinary challenge of locating any specimen regardless of preservation quality, let alone examples exhibiting superior eye appeal or minimal handling evidence.

Market recognition of this legendary rarity establishes dramatic value premiums beginning at the lowest proof grades, with PR61 examples valued at $27,000 and PR62 specimens reaching $35,000. The progression continues through PR63 at $75,000, while PR63+ examples command $95,000, the condition census PR64 level achieves $165,000, demonstrating consistent collector appreciation for this ultimate first-year proof rarity.

Market activity underscores the intense competition among advanced collectors pursuing this legendary rarity.

 

1878 7TF Reverse of 1879 CAM Morgan Silver Dollar Value

The cameo designation transforms this 1878 7TF Reverse of 1879 Proof Morgan Dollar already legendary rarity into an elite collectible approaching mythical status among proof Morgan Dollar specialists, with fewer than five examples believed to exist exhibiting certifiable cameo contrast meeting modern grading service standards.

Professional institution population data reveals the extreme scarcity of cameo examples, with a single PR64+ CAM specimen representing the finest known example across all certification services. This unique specimen commands a current market valuation of $275,000, while PR64 CAM examples achieve $225,000, establishing values that exceed comparable standard proofs by substantial multiples.

The auction record of $155,250 for a PR64 CAM example achieved in November 2004 at David Lawrence RC, though impressive, represents significant appreciation over the past two decades reflecting growing collector recognition of this variety’s supreme rarity.

The intersection of infinitesimal original production, historical importance as the proof striking of the definitive Morgan Dollar reverse design, and exceptional cameo surface characteristics exhibiting the deepest device frosting and most reflective field surfaces establishes 1878 7TF Reverse of 1879 CAM Proofs as legendary rarities transcending typical numismatic categories.

Market trend reveal the exceptional scarcity and elite status of this supreme first-year cameo proof.

Also Read: 17 Rare Dollar Coin Errors List with Pictures (By Year)

 

Rare 1878 Morgan Silver Dollar Error List

While 1878 Morgan Dollars are renowned for their tail feather varieties, numerous die production errors also occur throughout the series due to the difficult and laborious die-making process of the era. Dies were often used beyond their practical life and frequently re-polished in ways that imparted errors to coins, making error specimens particularly collectible among Morgan Dollar enthusiasts.

1. Die Crack Errors

Die cracks appear as raised lines on coins caused by fractures that develop in overused dies during the striking process. These cracks manifest as thin, jagged raised lines crossing various parts of the coin’s surface, most commonly appearing near high-stress areas where the die must repeatedly strike metal at brutal speeds.

Most die crack errors are minor and add minimal collector value, with recent market transactions showing premiums ranging from $22 to $65 over base coin value for 1878 Morgan Dollars.

Minor cracks typically add little value unless they are particularly dramatic, cross significant design elements like Liberty’s face or the eagle, or appear in unusual locations that create visually striking effects.

2. Die Break and Cud Errors

Die breaks and cuds represent advanced stages of die deterioration where the die material has actually fractured or fallen away. A retained die break crosses the coin’s face from rim to rim with the area on one side of the break slightly higher than the other, while a cud appears as a raised, rounded, blank area along the coin’s edge where broken die material has completely fallen away.

These errors occur from progressive die failure when initial stress fractures advance to complete structural collapse, causing pieces of the die to separate during the striking process.

Die breaks affecting 1878 Morgan Dollars can range in value from $50 for minor examples to several thousand dollars depending on size, location, and dramatic visual impact.

Most cud errors are worth approximately $100 or more, with prominent cuds at significant design locations commanding premium prices that increase substantially in higher mint state grades.

3. Die Gouge Errors

Die gouges are marks left when foreign objects contact the die surface before or during production, creating voids that become raised features on struck coins. Gouges appear as raised lines or irregularities varying in size and shape, differing from die cracks by their non-linear, irregular appearance that reflects the shape of whatever object damaged the die.

Values for 1878 Morgan Dollars with die gouges vary based on size, location, and visual impact, with minor gouges adding $20-$50 premiums over standard examples. Dramatic gouges that cut through letters in inscriptions or affect major design elements like Liberty’s portrait or the eagle can command $75-$200+ over base value, particularly when the gouge creates an interesting or historically significant pattern.

4. Clashed Die Errors

A die clash error occurs when obverse and reverse dies strike each other without a planchet between them, causing mirror images to transfer between the opposing dies and appear on subsequently struck coins.

On Morgan Dollars, clash marks commonly appear as lines on Liberty’s neck from the eagle’s wing tip, or leaf transfers near her chin and lips from the reverse wreath design.

Most clashed 1878 Morgan Dollars add no significant value unless clash marks transfer complete, recognizable letters or create particularly strong visual effects.

The sought-after “Clashed E” varieties, where the letter E from UNITED appears distinctly below the eagle’s tail feathers, command substantial premiums of $80 in AU condition to over $1,100 in MS65 grades, with top gem examples reaching $4,800 at auction.

 

Where to Sell Your 1878 Morgan Silver Dollar?

Before selling your 1878 Morgan Dollar, always compare its variety and condition through a professional market. The right selling venue depends on your coin’s value—common circulated pieces may sell quickly through online marketplaces, while rare high-grade specimens deserve specialized numismatic auctions.

Remember, knowledge is profit: understanding your coin’s true worth ensures you receive fair market value regardless of where you choose to sell.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1878 Morgan Silver Dollar Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ about The 1878 Morgan Silver Dollar

1. What is my 1878 Morgan Dollar worth?

1878 Morgan Dollars can be worth anywhere from around $40 to $250,000, depending on condition, variety, mint mark, and whether there’s an error. Coins in poorer condition generally range from $40 to $60, while gem-quality coins graded 65 or higher out of 70 can be worth thousands or even tens of thousands of dollars.

The 8 Tail Feathers variety is priced at $145 in MS-60 condition, while an MS-65 reaches $2,600. The Reverse of 1878 is priced at $74 in MS-60 and $1,375 in MS-65, while the scarcer Reverse of 1879 commands $80 in MS-60 and $2,650 in MS-65.

2. How can I tell which variety of 1878 Morgan Dollar I have?

Start by examining the reverse to count the eagle’s tail feathers—the original design had 8 feathers, while later versions have 7. For 7 tail feather coins, check the eagle’s breast shape: a flat breast indicates the Reverse of 1878, while a rounded breast identifies the Reverse of 1879.

Additionally, examine the arrow feathers—parallel arrow feathers appear on Reverse of 1878 coins, while slanted arrow feathers identify Reverse of 1879. The hardest variety to spot is the 7/8 tail feathers, where you’ll see tips of the original 8 feathers extending from underneath the major 7 feathers.

3. What makes the 1878 Morgan Dollar special compared to other years?

The 1878 Morgan Dollar is the first year of production, making it particularly fascinating to collectors due to its four distinct varieties that emerged from rapid design changes during the coin’s debut year. Only 749,500 Morgan Dollars were minted with 8 tail feathers, and the mintage of 7/8 tail feather varieties is estimated at around 500,000, making these varieties especially scarce.

The 1878 varieties are historically significant as they represent the experimental phase of this iconic American coin series. Additionally, fewer than 750 proof 1878 Morgan Dollars are believed to exist, with mirror-like surfaces that make them far more valuable than business strike coins.