1893 Morgan Silver Dollar Value Checker: Errors List, “CC”, “O”, “S” & No Mint Mark Worth

The numbers behind 1893 Morgan Silver Dollar value tell quite a story — from $1.00 face value all the way up to $735,000. That record came from a Grade 65 example sold through Sotheby’s in May 2018. Want to know where yours falls? Drop a photo below for a quick value range, then scroll down to check recent eBay sales and see what today’s market looks like.

 

1893 Morgan Silver Dollar Value By Variety

Four mints struck 1893 Morgan Dollars, and the value gap between them is massive.

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 1893 Morgan Silver Dollar Worth Money

Here’s something that trips people up: the 1893-S MS65 sold for $735,000 — beating the MS67 at $546,250. Higher grade, lower price. How? The MS65 was the legendary Larry H. Miller specimen, PCGS-certified and CAC-approved, with vibrant antique gold and pale rose toning, sharply struck hair curls, and minimal marks. The MS67 had gone through controversial conservation that hurt its eye appeal. I think this is one of the best examples of why originality and eye appeal can trump grade numbers in the high-end Morgan market.

San Francisco examples hold six of the top ten spots. No surprise there — the 1893-S is the undisputed key date. The MS63 commanded $444,000, actually beating the MS64’s $372,000. Premium quality within a grade creates its own pecking order.

New Orleans shows up strong too. An MS66 DMPL brought $458,250 through Legend Rare Coin Auctions in June 2015. That coin — the Clapp-Eliasberg specimen — passed through John H. Clapp, Louis Eliasberg Sr., and the Coronet Collection. Pedigree like that doesn’t come around often.

Carson City entries include a Branch Mint MS66 at $323,125 (Stack’s Bowers, July 2013) and a Branch Mint Proof PR65 at $305,500 (Legend Rare Coin Auctions, March 2019). These presentation pieces mark the dramatic final chapter of Carson City coinage.

History Of The 1893 Morgan Silver Dollar

By 1893, the Morgan Dollar had been in production for fifteen years under the Bland-Allison Act, which forced the Treasury to buy silver monthly and coin it into dollars. George T. Morgan designed the coin — you can spot his initials on Liberty’s neck truncation.

Then 1893 hit like a freight train. The Panic of 1893 was the worst economic crisis the country had seen. Major railroads collapsed, including the Philadelphia and Reading Railroad. Banks failed by the hundreds. Unemployment topped 20% in many areas.

President Grover Cleveland blamed the Sherman Silver Purchase Act of 1890 for draining gold reserves. Congress repealed it in November 1893, and silver dollar production fell off a cliff at every mint.

The combined 1893 mintage across all four facilities was the lowest for any single year in the entire Morgan Dollar series. Here’s a fun detail from Q. David Bowers’ Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia (1993): the Philadelphia dies wore out after an average of just 77,800 impressions — roughly one-third of normal. That tells you how abruptly they pulled the plug.

The VAM (Van Allen-Mallis) variety system, pioneered by researchers Leroy C. Van Allen and A. George Mallis and later expanded by Michael S. Fey and Jeff Oxman in Top 100 Morgan Dollar Varieties: The VAM Keys, has documented multiple 1893 die varieties. These include varieties with repunched dates and doubled stars, which are detailed in the errors section below.

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

Key Features Of The 1893 Morgan Silver Dollar

The 1893 Morgan Dollar carries George T. Morgan’s iconic design. It measures 38.10 millimeters in diameter and weighs 26.73 grams. The composition is 90% silver and 10% copper, giving you 0.7734 troy ounces of actual silver content. That means your coin has real melt value before you even factor in collector premiums.

The Obverse Of The 1893 Morgan Silver Dollar

Lady Liberty faces left wearing a Phrygian cap — a classical freedom symbol — with a ribbon inscribed “LIBERTY.” Her crown features sprigs of wheat and cotton blossoms representing agricultural prosperity.

The model was Anna Willess Williams of Philadelphia. Thirteen stars encircle the design for the original colonies, and “E PLURIBUS UNUM” arcs along the upper rim. The date “1893” sits centered at the bottom.

The Reverse Of The 1893 Morgan Silver Dollar

Flip it over and you’ll see a heraldic eagle with wings spread wide. The talons grasp an olive branch and a bundle of arrows — peace and military readiness.

“UNITED STATES OF AMERICA” arcs along the top, and “ONE DOLLAR” appears at the bottom flanked by two six-pointed stars. Look above the letters “DO” in “DOLLAR” for the mint mark — no mark means Philadelphia, S = San Francisco, O = New Orleans, and CC = Carson City.

Other Features Of The 1893 Morgan Silver Dollar

The edge carries full reeding — those raised ridges around the perimeter. Reeding deterred counterfeiting and the old practice of “clipping” metal from coin edges. All 1893 Morgan Dollars share these same specs regardless of mint.

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1893 Morgan Silver Dollar Mintage & Survival Data

This is the lowest combined mintage year in the entire Morgan Dollar series. Business strikes ranged from San Francisco’s 100,000 to Carson City’s 677,000 — but raw mintage only tells part of the story.

Carson City had the highest mintage yet the lowest survival rate at approximately 7.09%. Why so low? Numismatic researcher Wayne Miller described in The Morgan and Peace Dollar Textbook how thousands of 1893-CC dollars from the Redfield hoard were run through a counting machine. That machine gouged a big scrape across Liberty’s cheek or the eagle’s breast on most of them. Imagine thousands of coins essentially ruined in one afternoon.

The Pittman Act of 1918 made things worse for every 1893 date. That World War I law sent over 270 million silver dollars to the melting pot to supply bullion to Great Britain. PCGS estimates fewer than 15% of all vintage Morgan Dollars survive today. For 1893-CC specifically, PCGS notes that “probably several hundred thousand” were destroyed.

Philadelphia and New Orleans show similar survival rates near 10%. The 1893-S maintains roughly a 9.95% survival rate across all grades, but those survivors are overwhelmingly worn. The Mint State population is paper-thin.

Proof survival patterns look completely different. Standard proofs survived at about 18.94% because collectors babied them from day one. Cameo proofs hit a remarkable 59.34% rate. Deep Cameo dropped to just 3.79% — most lost their heavy frosting through cleaning or bad storage over 130 years.

The Carson City Branch Mint Proofs are in their own league. Only 12 were struck to mark the mint’s closure on June 1, 1893. Six survive today at a 50% rate. Only four of those show Cameo characteristics.

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

 

The Easy Way to Know Your 1893 Morgan Silver Dollar Value

Start by checking the reverse above the word “DOLLAR” for the mint mark — S (San Francisco), O (New Orleans), CC (Carson City), or no mark for Philadelphia.

Next, look at the coin’s condition. Even small differences in wear, luster, and bag marks can mean hundreds or thousands of dollars at this rarity level. Watch for Prooflike (PL) and Deep Mirror Prooflike (DMPL) designations — coins with deeply reflective mirror surfaces pull serious premiums even at the same grade number. Get it slabbed by PCGS or NGC, especially if you think you have an 1893-S. That date is one of the most heavily counterfeited coins in American numismatics — fakers love adding an “S” mint mark to Philadelphia coins.

For instant value estimates based on your coin’s specific characteristics and current market data, use our Coin Identifier and Value App.

1893 Morgan Silver Dollar Value Guides

• 1893 No Mint Mark Morgan Silver Dollar — Philadelphia struck between 378,000 and 389,000 pieces (records vary slightly) across just four months, January through April. PCGS CoinFacts estimates 30,000–60,000 survive at MS-60 to MS-62, with only 400–800 existing at MS-65 or better. The dies wore out quickly — averaging just 77,800 impressions each, about one-third of normal die life. True prooflike specimens are rare, and DMPL examples are exceedingly scarce according to Q. David Bowers’ Silver Dollars & Trade Dollars of the United States. Treasury bag releases in the 1950s and 1960s gave collectors access to lower Mint State grades.
• 1893-CC Morgan Silver Dollar — Carson City’s final Morgan Dollar production totaled 677,000 pieces struck between January and June 1893. PCGS documents five VAM varieties from this date, using four obverse dies and three reverses from ten prepared pairs. DMPL coins are approximately ten times rarer than standard prooflike examples, and as of early population reports, none certified by either NGC or PCGS were better than MS-64. The infamous Redfield hoard incident — in which thousands were run through a coin counter — permanently damaged many survivors.
• 1893-O Morgan Silver Dollar — New Orleans struck just 300,000 pieces, all in January 1893, using three obverse dies and two leftover reverse dies from prior years. As of early 2025, PCGS reports only one MS66PL specimen (the historic Clapp-Eliasberg-Coronet coin), and NGC shows just one MS65 in its top population. Combined, NGC and PCGS have designated only 47 coins in Prooflike and 19 in Deep Mirror Prooflike across all grades. Gem specimens at any designation are nearly impossible to locate, with fewer than a dozen instances across both services.
• 1893-S Morgan Silver Dollar — With just 100,000 business strikes, this is the lowest-mintage regular-issue Morgan Dollar of all. It was struck from one obverse die and two reverse dies, giving specialists specific diagnostic tools for authentication. PCGS CoinFacts estimates approximately 9,948 survivors in all grades; Q. David Bowers calculates 6,000–12,000 total, while researcher David Hall agrees those numbers are plausible. Fewer than 125 examples are believed to exist in any Mint State grade, and only around 18 are certified at MS-65 or finer.
• 1893 Proof Morgan Silver Dollar — Philadelphia struck 792 proof coins featuring mirror-like fields and frosted devices. Despite careful production, most proofs show somewhat weak central strikes, particularly in Liberty’s hair above her ear. Roughly 150 standard-surface proofs are estimated to survive today from the original 792 mintage — approximately 18.94%.
• 1893-CAM Morgan Silver Dollar — CAM (Cameo) designation means frosted, sculpted devices contrasting against mirror-like fields, creating visual depth that plain proofs lack. Approximately 470 Cameo examples survive from the 792 mintage — a 59.34% rate that reflects careful original owner preservation. Cameo examples command premiums over standard proofs at every grade level.
• 1893-DCAM Morgan Silver Dollar — DCAM (Deep Cameo) specimens show the most dramatic possible contrast: heavily frosted devices against deeply mirrored fields. Only 30 examples survive from the 792-coin mintage, a mere 3.79% survival rate. Most originals lost their deep frosting through cleaning or improper storage across 130+ years of existence.
• 1893-CC Proof Morgan Silver Dollar — Only 12 presentation pieces were struck at Carson City in the final days before the mint closed on June 1, 1893. These commemorate 23 years of Western coinage history. Six are confirmed to survive today, displaying deeply mirrored prooflike surfaces, exceptionally sharp strikes, and frequently original golden peripheral toning.
• 1893-CC CAM Morgan Silver Dollar — Only four of the 12 Branch Mint Proofs show Cameo characteristics. These represent the apex of 1893 CC rarity. The CAM designation results from special die preparation and careful striking procedures at the closing ceremony. Most surviving examples show attractive original toning with colorful peripheral highlights.

Those nine categories show you how dramatically surface quality, designation, and mint origin reshape value within a single year. Same date, different mint — or the same coin with or without a DMPL designation — and you could be looking at a difference of tens of thousands of dollars.

1893 No Mint Mark Morgan Silver Dollar Value

Did you know this is the third rarest P-mint Morgan in Mint State? Production totaled between 378,000 and 389,000 pieces (historical records differ slightly), struck January through April before everything shut down on June 1.

Most examples show above-average strikes but carry what Q. David Bowers calls a “somewhat greasy” luster instead of deep frosty surfaces. PCGS estimates 30,000–60,000 exist at MS-60 to MS-62, dropping hard to 10,000–20,000 at MS-63 and just 400–800 at MS-65 or better. One obverse die shows a repunched “3” in the date — worth cherrypicking for. The highest certified grade is MS66. An MS66 example realized $66,000 at Heritage Auctions in January 2023.

Premium quality specimens have shown steady upward price movement at auction.

Date set completers and condition rarity specialists keep demand consistent for this issue.

1893-CC Morgan Silver Dollar Value

This is the last Morgan Dollar Carson City ever made. The mint closed its doors June 1st after striking 677,000 pieces across five months — 130,000 in January, 150,000 in February, 140,000 in March, 120,000 in April, and 137,000 in May.

Strike quality is hit or miss. Many show weak centers from lightly hubbed dies. DMPL examples are approximately ten times rarer than standard prooflike pieces — a completely different kind of rare. MS66 is the finest certified grade for regular strikes. An MS66 example achieved $161,000 at Legend Rare Coin Auctions in July 2013.

Auction prices reflect strong demand for this final-year Carson City issue.

Date set builders and CC specialists keep this one actively traded.

1893-O Morgan Silver Dollar Value

How scarce is this coin in top grades? Combined NGC and PCGS populations show only 47 Prooflike and 19 DMPL designations across all grades. That’s it.

New Orleans struck just 300,000 pieces — the lowest mintage of any O-mint Morgan — all in a single month (January 1893) using three obverse dies and two leftover reverse dies. Q. David Bowers noted that seven other obverse dies prepared for this issue may never have been used at all.

The PCGS finest-known MS66PL specimen is the historic Clapp-Eliasberg-Coronet coin. It sold twice through Legend Rare Coin Auctions — first for $458,250 in June 2015, then for $411,250 in October 2017.

Premium examples with prooflike designations have shown strong appreciation.

Collectors focus on condition rarities and coins with superior surfaces for this date.

1893-S Morgan Silver Dollar Value

The King of Morgans. Only 100,000 struck during the Panic of 1893 — the lowest business-strike mintage in the entire series. One obverse die, two reverse dies. That’s all they used, which actually helps specialists authenticate them through die diagnostics.

PCGS CoinFacts estimates approximately 9,948 survivors across all grades. Q. David Bowers calculated 6,000–12,000 total. Fewer than 125 exist in any Mint State grade. Just 18 have been certified at MS-65 or finer. Prooflike examples are virtually unknown.

A handful of Mint State coins reportedly turned up in a bag of 1894-S dollars in the U.S. Treasury vaults — a once-in-a-lifetime find. The auction history reads like a greatest-hits album: the Norweb specimen sold for $357,500 in 1988 (then a record for any silver dollar). The Vermeule specimen sold for $414,000 in 2001 through Stack’s, then for $2,086,875 through GreatCollections in August 2021 — the all-time public sale record for any Morgan Dollar. That 2021 sale drew 127 bids before the hammer fell.

Extreme rarity drives exceptional price appreciation at auction.

Advanced collectors compete fiercely whenever this ultimate series key appears on the market.

1893 Proof Morgan Silver Dollar Value

If you’re looking at a proof 1893, check the hair detail above Liberty’s ear. Most of these show weak central strikes there — it’s a consistent issue graders flag even on otherwise gorgeous coins.

Philadelphia struck 792 proof coins using specially polished dies and planchets. About 150 standard-surface proofs survive today. Cameo examples outnumber Deep Cameo by a wide margin, thanks to careful storage by original collector owners. The highest certified grade reached PR68. A PR68 example achieved $46,000 at Heritage Auctions in March 2012.

Values have been stable with gradual appreciation at the high end.

Type set builders and proof specialists drive steady demand here.

1893 CAM Morgan Silver Dollar Value

A lot of collectors don’t realize how many Cameo proofs survived from 1893. Approximately 470 Cameo examples exist from the 792 mintage — a 59.34% rate. Original owners clearly took good care of these.

CAM stands for Cameo — a PCGS or NGC designation meaning the raised design elements show a frosted, sculpted look against deeply reflective mirror fields. That contrast gives the coin real visual pop. The highest certified grade achieved PR69. A PR68 Cameo example realized $57,500 at Heritage Auctions in May 2007.

Demand stays consistent with gradual appreciation for top-grade specimens.

Collectors chase high-grade examples with the strongest cameo contrast.

1893 DCAM Morgan Silver Dollar Value

Only 30 survive. That’s a 3.79% survival rate from the 792-coin proof mintage. Most originals lost their heavy frosting through cleaning, polishing, or bad storage over 130+ years.

DCAM (Deep Cameo) is the top surface designation for proofs. You’re looking at extremely heavy frosting on the devices against deeply mirrored fields — the most dramatic black-and-white contrast possible. It’s rarer than CAM, which is already rarer than standard proof. The highest certified grade reached PR69. A PR67+ Deep Cameo example realized $70,500 at Legend Rare Coin Auctions in February 2015.

Prices reflect both the scarcity and the visual impact of these coins.

With so few in existence, any appearance at auction draws immediate attention from specialists.

1893-CC Proof Morgan Silver Dollar Value

Twelve coins. That’s all they made. Carson City struck exactly 12 presentation pieces for the ceremony marking the mint’s closure on June 1, 1893 — the end of 23 years of Western coinage. Officials personally oversaw each striking.

Six are confirmed to exist today. Most display original golden patina and colorful peripheral toning that authenticators love to see. The highest certified grade reached PR66. A PR65+ Branch Mint example achieved $305,500 at Legend Rare Coin Auctions in March 2019.

Extreme rarity and historical significance as closure ceremony mementos keep prices climbing.

Appearances are extremely rare, and when one surfaces, bidding gets competitive fast.

 

1893-CC CAM Morgan Silver Dollar Value

We’re talking about four coins in the entire world. Only four of the 12 Branch Mint Proofs show Cameo characteristics — the absolute peak of 1893-CC rarity. The frosting came from highly polished working dies used only briefly before the frost started wearing off.

Most surviving examples show colorful original toning with peripheral highlights from over 130 years of careful storage. The highest certified grade reached PR66. A PR66 Cameo example achieved $323,125 at Stack’s Bowers in July 2013.

Extreme rarity and enhanced visual characteristics fuel strong collector demand.

When one of these four coins appears, specialized collectors compete immediately.

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

Rare 1893 Morgan Silver Dollar Error List

True striking errors on 1893 Morgan Dollars almost never show up. What you’re really looking for are die varieties — coins where the die itself had a manufacturing quirk that got stamped onto every coin it struck. The VAM (Van Allen-Mallis) system, developed by Leroy C. Van Allen and A. George Mallis and expanded by Michael S. Fey and Jeff Oxman, is the go-to reference.

PCGS CoinFacts documents at least five VAM varieties for the 1893 Philadelphia issue alone, including a repunched “3” in the date and the doubled-star variety below.

1893 VAM 4, Doubled Stars — 1893 Morgan Silver Dollar Error

This is one of the easiest Top 100 VAM varieties to spot with the naked eye. All 13 obverse stars around Liberty’s portrait show strong doubling — look at the left-side stars especially.

The doubling happened during die production. The master hub was pressed into the working die twice with a slight rotational misalignment between strikes. You’ll see clear “ghost” impressions spread out from the star points. Every coin struck from this die pair carries the same doubling.

Some VAM-4 examples turn up with prooflike surfaces, which adds another layer of collectibility. PCGS records the auction record at $6,000 for an MS63 example sold at Heritage Auctions on December 26, 2023. Higher-grade examples would bring significantly more from variety specialists. If you’re cherrypicking raw coins, this is one worth hunting for.

Where To Sell Your 1893 Morgan Silver Dollar?

Finding the right marketplace for your 1893 Morgan Dollar requires understanding various selling options and their trade-offs. Each platform offers distinct advantages depending on your coin’s grade, rarity, and your timeline. We’ve compiled comprehensive information about the best places to sell coins online, including detailed pros and cons for each option to help you make an informed decision.

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

1893 Morgan Silver Dollar Market Trend

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

FAQ About The 1893 Morgan Silver Dollar

1. What is the 1893-S Morgan Silver Dollar worth today?

It depends entirely on grade. Heavily worn examples in Good (G-4) start around $3,454–$3,520. An About Uncirculated (AU-50) runs approximately $29,700. Mint State prices climb fast: MS-63 coins sell for roughly $302,500, MS-65 examples have fetched $693,000 or more, and the finest-known MS-67 sold for $2,086,875 at GreatCollections in August 2021 — the all-time auction record for any Morgan Dollar.

2. Why is the 1893 Morgan Silver Dollar so valuable compared to other years?

Three things came together. The Panic of 1893 forced production cuts at every mint, giving this year the lowest combined mintage in the entire series. Then the Pittman Act of 1918 melted over 270 million silver dollars — many 1893 examples among them. The 1893-S holds the absolute lowest business-strike mintage (100,000 pieces) in the entire Morgan run.

3. How do I tell if my 1893-S Morgan Dollar is genuine?

Authentic 1893-S dollars were struck from exactly one obverse die and two reverse dies, creating specific die characteristics you can check. Verify the coin weighs 26.73 grams and measures 38.10 mm in diameter. Examine the “S” mint mark under magnification — many fakes are made by adding an “S” to a Philadelphia coin. PCGS CoinFacts notes that VAM-1 (the normal die variety) has identifiable diagnostics specialists use for authentication. Given the value and the number of counterfeits out there, professional grading by PCGS or NGC is a must.

4. What does DMPL mean on a Morgan Dollar, and how much extra is it worth?

DMPL stands for Deep Mirror Prooflike — the coin’s fields have deeply reflective, mirror-like surfaces created by freshly polished dies early in their production life. For 1893 coins, a DMPL designation can add enormous premiums: the 1893-O MS66 DMPL (the Clapp-Eliasberg-Coronet coin) sold for $458,250, far exceeding what a standard MS66 would bring. DMPL coins are approximately 10 times rarer than standard Prooflike (PL) pieces for 1893-CC.

5. What is a VAM variety and does it affect my 1893 Morgan Dollar’s value?

VAM stands for Van Allen-Mallis — named after researchers Leroy C. Van Allen and A. George Mallis who cataloged die varieties across the Morgan and Peace Dollar series. VAM varieties come from small differences in the dies: doubled dies, repunched mint marks, misplaced dates, and other quirks.

For 1893 Philadelphia dollars, the VAM-4 (Doubled Stars) is a Top 100 variety that pulls consistent premiums. An MS63 VAM-4 sold for $6,000 at Heritage Auctions in December 2023 — well above what a regular MS63 1893-P brings.

6. How many 1893-S Morgan Dollars still exist today?

PCGS CoinFacts estimates approximately 9,948 survivors in all grades combined. Q. David Bowers, in his Silver Dollars & Trade Dollars of the United States, calculates 6,000–12,000 total. Fewer than 125 exist in any Mint State grade, and only about 18 have been certified at MS-65 or finer by PCGS or NGC. The MS-67 Vermeule specimen is one of only two coins ever to merit a grade above MS-65.

7. Is the 1893-CC Morgan Dollar the last Carson City Mint coin?

Yes. The 1893-CC is the last dollar coin — and effectively the last regular-issue coin — struck at Carson City. Operations halted on June 1, 1893, after delivering 677,000 business strike dollars across five months. The mint had opened in 1870 and ran for 23 years. The 12 Branch Mint Proof pieces struck for the closure ceremony are among the most historically significant coins in American numismatics.

8. What happened to millions of 1893 Morgan Dollars under the Pittman Act?

The Pittman Act of 1918 authorized melting over 270 million Morgan Dollars to supply silver bullion to Great Britain during World War I. For 1893-CC specifically, PCGS notes that “probably several hundred thousand” were destroyed. The act is the main reason many dates with high original mintages are now surprisingly scarce — and it hammered the 1893-S population from its already tiny 100,000 original mintage. PCGS estimates fewer than 15% of all vintage Morgans survive today as a result.

9. Should I clean my 1893 Morgan Dollar before having it graded?

No. Never. Cleaning — even gentle polishing or dipping — permanently damages original surfaces. PCGS or NGC will label it “Cleaned” or return it in a details holder. A cleaned 1893-S might lose 50–80% of its potential value compared to an original-surface example. Even if your coin looks dull or toned, submit it as-is. Original toning is actually desirable to advanced collectors and grading services.

10. What is the difference between a Proof and a business strike 1893 Morgan Dollar?

Business strikes were regular coins made for circulation using standard dies and planchets. Proofs were specially made for collectors using highly polished dies and prepared planchets, creating mirror-like fields. Philadelphia struck 792 proofs in 1893, sold directly to collectors at a premium.

Proofs come in three surface designations: standard Proof (mirror fields, minimal frosting), CAM (Cameo — frosted devices against mirror fields), and DCAM (Deep Cameo — the most dramatic contrast). DCAM examples are the rarest, with only 30 surviving from the 792 1893 proof mintage.