1902 Silver Dollar Value Checker: Errors List, “O”, “S” & No Mint Mark Worth

The 1902 Morgan Dollar was the first to use the new C-4 reverse on all of the dies — a small technical detail that most people overlook, yet one that matters to serious collectors.

Understanding 1902 Silver Dollar value starts with where the coin was made. The Philadelphia and New Orleans issues are common and readily available, while the 1902-S from San Francisco is a semi-key date with consistent collector demand. That difference in origin alone can move prices considerably.

Condition matters just as much. A standard 1902 No Mint Mark coin in Good grade starts at $82, while the same coin in MS reaches $370. The DMPL variety — known for its deep mirror-like surfaces — climbs to $11,833.50 in MS. These coins are among the most desirable of all Morgans, commanding premiums that are sometimes many multiples of a regular Mint State example.

This article walks through each mint, finish type, and grade so you can place your coin accurately on the value spectrum.

 

1902 Silver Dollar Value By Variety

Every 1902 Morgan Dollar carries a mint mark — or the absence of one — that immediately sets it apart. Beyond that, surface quality plays a surprisingly large role, with Proof-Like and Deep Mirror Proof-Like coins occupying their own category entirely.

The table below covers all major varieties in one place. 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 1902 Silver Dollar Worth Money

Among all 1902 Morgan Dollars that have crossed the auction block, the San Francisco issue stands apart. A 1902-S graded MS67 sold for $99,875 in 2015, the highest recorded price for any coin from this year. That result reflects both the relative scarcity of the S-mint issue and just how difficult it is to find one in that condition.

The Proof coins occupy their own space in this picture. A PR68 example realized $53,500 at a David Lawrence auction in June 2019, with only 777 Proof coins originally struck that year.

The CAM Proof — distinguished by its frosted devices against a mirror field — reached $34,075, placing it firmly among the top results.

For the New Orleans issue, a 1902-O graded MS67 sold for $33,600 in 2020. That’s a significant number for a mint that produced coins in far greater quantity than San Francisco.

What these results share is a consistent pattern: grade is decisive. The same coin, one or two points higher on the scale, can mean tens of thousands of dollars in difference. For most 1902 dollars, reaching MS67 is rare enough that the market responds accordingly.

 

History Of The 1902 Silver Dollar

The Morgan Dollar was born out of the Bland-Allison Act of 1878, which required the Treasury to purchase between two and four million dollars’ worth of silver each month to be coined into dollars. Designed by George T. Morgan, it became one of the most recognized coins in American numismatic history.

By 1902, the Morgan Dollar had been in production for over two decades. Congress had earlier required all remaining silver bullion purchased under the Sherman Silver Purchase Act to be coined into dollars.

When those reserves were depleted in 1904, the Mint temporarily ceased striking the Morgan dollar. The 1902 issue was produced under that same legislated obligation.

The year also marked a notable transition for the Philadelphia Mint. Operations had moved in 1901 to a larger facility on Spring Garden Street, built to increase output and improve efficiency, and the old building was sold and demolished in 1902. The dollars struck that year were among the first to come entirely out of the new facility.

Mint State coins from 1902 were relatively elusive before the 1930s. It wasn’t until Treasury bag releases in the 1940s and 1950s that larger quantities became available to collectors. Even so, many coins were lost to government meltings over the years, and high-grade survivors remain genuinely scarce today.

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

 

Is Your 1902 Silver Dollar Rare?

Rarity varies considerably across the 1902 Morgan Dollar series, and the grades and mint marks in the table above only tell part of the story. For a more precise look at where your specific coin stands, the Coin Value Checker App lets you check its rarity rating alongside current market data.

 

Key Features Of The 1902 Silver Dollar

The 1902 Silver Dollar shares the same design that George T. Morgan introduced in 1878 — one that has made the Morgan Dollar one of the most closely studied coins in American numismatics.

Knowing what to look for on both sides helps you assess condition, identify varieties, and understand what collectors pay attention to.

The Obverse Of The 1902 Silver Dollar

The obverse depicts Miss Liberty facing left, her hair held in a Phrygian cap with “LIBERTY” inscribed on a ribbon or band. Cotton and wheat decorate the area above the ribbon, symbolizing the reconciliation of the North and South following the Civil War.

Thirteen stars representing the original colonies encircle the design, along with the date and the motto “E PLURIBUS UNUM”. At the base of Liberty’s neck is a small “M” monogram representing Morgan’s initial.

Rather than drawing on the typical Greco-Roman style, Morgan wanted a more realistic, American depiction of Liberty. He modeled the portrait after Philadelphia teacher Anna Willess Williams. Williams reportedly posed for Morgan five times, and her identity was kept secret for years after the coin entered production.

The Reverse Of The 1902 Silver Dollar

The reverse depicts a spread-winged eagle holding a branch and three arrows. “IN GOD WE TRUST” appears in Old English letters above the eagle, with “UNITED STATES OF AMERICA” and “ONE DOLLAR” surrounding the design.

The eagle’s outstretched wings and the combination of arrows and olive branches symbolize the dual American desire to be prepared to defend the nation while also seeking peace.

A laurel wreath frames the lower portion of the design. The mint mark, when present, sits below the wreath and above the “DO” in “DOLLAR”. Philadelphia-minted coins carry no mint mark, while those from New Orleans bear an “O” and San Francisco an “S”.

Other Features Of The 1902 Silver Dollar

In order to conform to the Coinage Act of 1837, the Morgan dollar contained 90% silver and 10% copper, measured 38.1 millimeters in diameter, and weighed 26.73 grams. The thickness is 2.8 mm, and the edge is reeded.

The 90% silver and 10% copper composition gives the coin a total silver content of 0.7735 troy ounces. This silver content establishes the coin’s baseline melt value, which acts as a floor for pricing regardless of grade or mint mark.

The reeded edge also serves a practical purpose — any significant deviation in the coin’s measurements can be a red flag for a counterfeit. Collectors and graders routinely check these specifications when evaluating a coin’s authenticity.

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

 

1902 Silver Dollar Mintage & Survival Data

In 1902, three mints struck circulation dollars: Philadelphia with a mintage of 7,994,000, New Orleans at 8,636,000, and San Francisco at 1,530,000. The S-mint figure stands well below the other two. The 1902-S is considered a semi-key date in the series, and there is sometimes a waiting list of collectors looking to acquire one.

All three circulation issues share a survival rate of roughly 10%, a reflection of the large-scale silver meltings that followed the Pittman Act of 1918.

The Proof issue occupies a different position entirely. Only 777 were struck, all at Philadelphia, and an estimated 640 survive — a survival rate above 82%.

Beginning in 1902, both the devices and fields of Proof coins were polished, which meant cameo contrast became quite rare, appearing on only 1 to 2% of surviving examples. That polishing practice directly explains the CAM’s dramatically low survival figure of just 5 from the same mintage of 777.

The gap between the Proof’s high survival rate and the CAM’s near-total disappearance comes down to how carefully these coins were preserved over time. Collectors sought out Proofs and kept them. CAM examples, with their scarce frosted contrast, were far less common to begin with and far fewer made it through intact.

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

 

The Easy Way to Know Your 1902 Silver Dollar Value

Three factors shape the value of a 1902 Silver Dollar: the mint mark, the grade, and the specific variety. Start by checking the reverse for a mint mark just below the wreath — an “S” points to San Francisco, “O” to New Orleans, and no mark means Philadelphia. Each carries a different value range.

Next, look at the coin’s condition. Examine the high points — Liberty’s cheek and hair above the ear on the obverse, and the eagle’s breast feathers on the reverse. The less wear on these areas, the higher the grade, and the more the coin is worth.

If you want a faster read, the Coin Value Checker App lets you photograph your coin and get an instant AI-powered estimate.

 

1902 Silver Dollar Value Guides

The 1902 Silver Dollar was struck at three mints, with Proof and CAM varieties adding further distinction. Mint mark and grade are the two variables that move prices the most across all five types.

Here is a quick overview of each:

• 1902 No Mint Mark Silver Dollar — readily available across most grades, with no major attributed varieties.
• 1902-O Silver Dollar — worth around $90 in average condition, with higher Uncirculated grades commanding more.
• 1902-S Silver Dollar — significantly more expensive in all grades; considered a semi-key date in the series.
• 1902 Proof Silver Dollar — rare and expensive, sought after by collectors across all years of the Morgan series.
• 1902 CAM Silver Dollar — cameo contrast is exceptionally rare for this date, appearing on only 1 to 2% of surviving Proof coins.

Grade plays a decisive role for every variety listed above. A circulated example and a gem Mint State example of the same coin can differ by thousands of dollars. The S-mint issue widens that gap further, given how few survive in high grades. Proof and CAM coins operate on a separate scale entirely, where even modest condition upgrades can make a significant difference in price.

 

1902 No Mint Mark Silver Dollar Value

The 1902 Philadelphia dollar was the first issue to employ the C-4 reverse hub on all dies, completing a full transition from the older C-3. The change introduced a wider gap between the eagle’s neck and wing — a subtle but recognizable difference that variety collectors specifically look for when examining this coin.

That same new hub also affected strike quality. Most surviving uncirculated examples carry a satiny luster rather than a frosty one, and the strike varies considerably. Cherrypicking for a well-struck example is strongly advised.

Pricing is accessible through mid-grades — Good condition starts at $82, and a typical MS example runs around $370. The gap widens sharply at the top end, though. MS66 coins are quite scarce, and MS67s are rare — one MS67+ sold for $28,800 in 2025, reflecting just how seldom a sharp, well-preserved example surfaces.

For those tracking realized prices, the complete auction history offers a window into how buyers have valued this issue since release.

The past year’s market activity provides insight into its current popularity and demand dynamics.

 

1902-O Silver Dollar Value

The O-mint issue is one of the more accessible coins in the 1902 series, though not entirely for the right reasons. A large release of Mint State bags from Treasury vaults in 1962 and 1963 significantly depressed prices for lower uncirculated grades, keeping MS63 and MS64 examples relatively affordable to this day.

The drawback is quality. Strike quality is usually poor, with flatness at the centers, particularly on the reverse. A well-struck, lustrous example does exist but takes patience to find — and commands a premium when it appears.

That scarcity of quality explains the dramatic jump at the top. Only near 100 examples have been graded MS67, and one of those realized $33,600 at auction in 2020. For this date, a sharp strike isn’t just desirable — it’s genuinely rare.

Displayed below are the highest confirmed auction prices that define the market ceiling for the 1902-O issue.

Market activity from the past year clearly shows its appeal to collectors.

 

1902-S Silver Dollar Value

The 1902-S is considered a semi-key date in the Morgan series, with consistent collector demand and sometimes a waiting list among buyers.

Unlike the other two circulation issues, it commands a real premium even in circulated grades — the starting point for this coin is simply higher.

That gap widens considerably as condition improves. Above MS64, the coin becomes especially scarce, and MS66 or higher examples are rare. Most examples saw heavy use, which means high-grade survivors are genuinely hard to come by, not just statistically underrepresented.

At the very top, the numbers speak clearly. Well-preserved MS67 specimens generally range from $75,000 to $225,000 on the open market, and the auction record — $99,875 for an MS67+ in 2015 — remains the highest price paid for any 1902 Morgan Dollar.

What price movements has this coin experienced at auction over the years? The historical records below trace every documented sale.

Meanwhile, the market activity chart that follows reveals whether collector interest has been heating up or cooling down in recent months.

 

1902 Proof Silver Dollar Value

Beginning in 1902, the Mint began polishing the devices as well as the fields on Proof coins. That change eliminated the cameo contrast that had appeared on roughly 20–30% of Proof Morgans struck before 1902.

The result is a coin with a uniformly brilliant, mirror-like surface — striking in its own way, but distinctly different from earlier Proofs in the series.

Proofs of this date are mostly reflective, the result of that excessive polishing, and any example with even a modicum of cameo contrast and good eye appeal is considered a prize.

Pricing reflects the coin’s appeal as a complete-set necessity. A PR63 example runs around $3,950, while the PR68 that sold for $53,500 in 2019 represents the top of the market. That record was set at a David Lawrence auction in June 2019.

For most collectors, PR64 and PR65 sit in the most practical range — rare enough to be meaningful, attainable enough to not break a budget.

The table below chronicles significant auction milestones for this scarce proof issue.

Meanwhile, the accompanying chart reveals recent market dynamics spanning twelve months.

 

1902 CAM Silver Dollar Value

The 1902 CAM exists precisely because the Mint’s polishing practice was inconsistent. Cameo contrast appears on only 1 to 2% of surviving 1902 Proof coins — meaning most of the 777 struck that year came out with flat, fully reflective surfaces. The few that escaped with frosted devices did so by accident rather than design.

That accident of process is now worth serious money. Only 5 CAM examples are estimated to survive, making this one of the most thinly populated varieties in the entire Morgan Proof series. The auction record stands at $34,075 for a PR66CAM, sold at Legend Rare Coin Auctions in January 2022.

With so few known and no clear path to new supply, the 1902 CAM occupies a category of its own — less about grade and more about simple availability. When one surfaces, it sells.

Here are the historical auction records for this coin across different grades which can help you have a clear understanding of its value.

The next chart shows its market trends and activity over the past twelve months.

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

 

Rare 1902 Silver Dollar Error List

Error coins from the 1902 series are rare — and that rarity is part of what makes them worth looking for. Most errors in the Morgan Dollar series were caught at the Mint and melted before reaching circulation. The few that slipped through are now documented, cataloged, and actively sought by collectors.

1. 1902 Doubled Ear Error

This is the standout error variety for the 1902 series and one of the most recognized in the entire Morgan Dollar collection. It holds a confirmed spot in the Top 100 VAM list — a catalog maintained by researchers Leroy C. Van Allen and A. George Mallis to document all die variations used in the Morgan and Peace Dollar series.

The error originated at the die preparation stage. Morgan Dollar dies were created by multiple blows from a master hub. A slight shift between blows left a secondary impression permanently in the die steel. On VAM 4, that shift produced visible doubling on Liberty’s ear, and also affects her profile, nose, lips, and chin on stronger examples.

The doubling appears on Liberty’s profile, ear, and some reverse details including the olive and arrow feathers. When examining this coin, focus on the ear first — a clearly defined secondary inner ear is the most reliable diagnostic.

The 1902-O carries its own Doubled Ear varieties as well, listed separately and placed on the Hit List, a secondary tier beneath the Top 100. The Philadelphia VAM 4 is the most valuable of the group. MS63 examples trade around $1,100–$1,200, while MS65 coins reach $1,850–$3,700 based on current price guide data.

2. 1902-O Repunched Mint Mark Error

This variety features a dramatically repunched “O” mint mark, first noted by collector Del Ford in 1966, and was included in the very first edition of the reference by Leroy Van Allen and A. George Mallis.

The cause was entirely human. In this era, mint marks were punched into individual working dies by hand and required several blows to sink to full depth. The larger the mint mark, the more blows it needed — and the more prone it was to misalignment between strikes.

On this variety, the misalignment is dramatic enough to be visible without magnification on strong examples. A secondary die gouge at the top edge of Liberty’s coronet serves as a useful confirmation marker when the repunching alone isn’t fully conclusive.

Unattributed examples can still be found with some patience, and those already identified typically sell at only modest premiums — making this one of the more accessible documented varieties in the 1902 series.

3. 1902 Clashed Dies Error

A die clash happens when the coining press cycles without a planchet in place — the obverse and reverse dies strike each other directly, leaving reversed impressions of each design transferred onto the opposing die. Every coin struck afterward carries those ghost marks until the dies are repaired or retired.

Although some collectors once considered clash marks common on Morgan Dollars, coins bearing clashed letter transfers — such as letters from “In God We Trust,” the designer’s initial “M,” or clashed mint marks — are now regarded as highly collectible by VAM and error coin enthusiasts.

On the 1902 series, clash marks appear on both Philadelphia and New Orleans issues. The most reliable areas to examine are Liberty’s neck hollow — where a reversed “E” from the reverse lettering may appear — and the eagle’s wing area for transferred profile lines from the obverse.

Many clashed die Morgan Dollars are scarce because dies were typically re-polished or retired before many coins could be struck, meaning strong examples are genuinely worth hunting for.

4. 1902 Struck-Through Error

A struck-through error occurs when a foreign object lands between the die and the planchet at the moment of striking, preventing part of the design from fully transferring to the coin’s surface.

Hard objects like staples and metal shavings leave sharp, defined impressions, while softer materials like thread or grease produce areas of weak, flat detail — the latter easy to mistake for a poorly struck coin rather than a genuine error.

On the 1902 series, struck-through examples are rare. Value depends heavily on how dramatic and clear the impression is, and whether the affected area falls on a prime focal point such as Liberty’s face or the eagle’s breast.

 

Where To Sell Your 1902 Silver Dollar?

Now that you understand your 1902 Morgan Silver Dollar’s potential value, choosing the right selling platform becomes your next priority. Each marketplace offers distinct advantages depending on your coin’s condition and rarity.

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

 

1902 Silver Dollar Market Trend

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

 

FAQ About The 1902 Silver Dollar

1. How much is a 1902 Silver Dollar worth?

It depends on the mint mark and condition. A 1902 No Mint Mark coin in Good grade starts at $82, while an MS example runs around $370. The 1902-S is the most valuable circulation issue, with MS67 examples ranging from $75,000 to over $99,000 at auction.

The Proof and CAM varieties operate on a separate scale entirely. A PR63 Proof runs around $3,950, and the auction record for the CAM stands at $34,075 for a PR66CAM sold in January 2022.

2. Where is the mint mark on a 1902 Silver Dollar?

The mint mark sits on the reverse, just below the ribbon tying the base of the wreath, above the letters “DO” in “DOLLAR”. An “O” means it was struck in New Orleans, “S” points to San Francisco, and no mark means Philadelphia.

This location is consistent across all 1902 Morgan Dollars. It is worth checking under magnification, as the mark can be small and worn coins may make it harder to read clearly.

3. How do I know if my 1902 Silver Dollar is real?

A genuine 1902 Morgan Dollar should weigh 26.73 grams, measure 38.1 mm in diameter, and have a reeded edge. The coin contains 90% silver, which means it will not stick to a magnet — that is a quick first test.

For higher-value examples, especially the 1902-O, be aware that a family of contemporary counterfeits with small “Micro O” mint marks was identified by PCGS in 2005. These share common die markers across the 1896-O, 1900-O, and 1902-O dates. Professional grading by PCGS or NGC is strongly recommended for any coin you plan to buy or sell above melt value.

4. What is a 1902-S Silver Dollar worth?

The 1902-S is a semi-key date that commands a premium at every grade. A coin in Good condition starts around $72, and Fine examples run around $188. At MS65, prices reach approximately $2,500, and the auction record stands at $99,875 for an MS67 example sold in 2015 — the highest price ever recorded for any 1902 Morgan Dollar.

Above MS64 the coin becomes especially scarce, and MS66 or higher examples are genuinely rare. Most 1902-S dollars were heavily circulated, which makes high-grade survivors hard to come by.

5. What does the “O” or “S” mint mark mean on a 1902 Silver Dollar?

The “O” means the coin was struck at the New Orleans Mint, and the “S” means San Francisco. Both mints produced 1902 dollars alongside Philadelphia, which used no mint mark.

The S-mint issue had the lowest circulation output at 1,530,000 — significantly fewer than the 7,994,000 from Philadelphia and 8,636,000 from New Orleans. That lower figure is directly why the 1902-S carries higher values across all grades.

6. How many 1902 Silver Dollars still exist today?

The survival rate for all three circulation issues is approximately 10%, a result of the large-scale meltings that followed the Pittman Act of 1918. That means roughly 799,000 No Mint Mark coins, 864,000 O-mint coins, and 153,000 S-mint coins are estimated to survive.

The Proof issue fares much better, with an estimated 640 surviving from the original 777 struck — a survival rate above 82%. The CAM variety is by far the rarest, with only an estimated 5 examples known to exist today.

7. Is the 1902 Proof Silver Dollar worth collecting?

Yes, and it sits in a distinct category from the circulation issues. Only 777 Proof coins were struck, and the 1902 Proof marks the first year the Mint polished both the devices and fields, eliminating the cameo contrast seen on earlier Proofs. The result is a uniformly brilliant mirror surface.

PR64 and PR65 examples represent the most practical entry points, while the top of the market is anchored by the $53,500 realized for a PR68 at David Lawrence Rare Coins in June 2019. Even lower-grade Proofs are worth collecting given how few were originally made.

8. What is the 1902 Doubled Ear error and how do I spot it?

The 1902 Doubled Ear is VAM 4, a Top 100 VAM variety caused by a slight misalignment between hub strikes during die preparation. The error produced visible doubling on Liberty’s ear, and also affects her profile, nose, and lips on stronger examples.

To spot it, use a 10x loupe and examine Liberty’s ear closely — a clearly defined secondary inner ear is the key diagnostic. MS63 examples trade around $1,100–$1,200, while MS65 coins can reach $1,850–$2,000. The 1902-O has its own Doubled Ear varieties listed on the Hit List, a secondary catalog below the Top 100.

9. Does cleaning a 1902 Silver Dollar affect its value?

Yes, significantly. Cleaning removes the natural luster and patina that graders evaluate, and a cleaned coin will receive a “Details” or “Cleaned” designation from PCGS or NGC rather than a clean numeric grade. That designation can reduce the coin’s value by 50% or more compared to an unclean example of the same grade.

This applies equally to error coins and high-grade examples. Never wipe, polish, or dip a coin you believe may be valuable — even gentle cleaning with a soft cloth leaves microscopic scratches that trained graders will detect.

10. What is the most valuable 1902 Silver Dollar ever sold?

The highest price ever recorded for a 1902 Morgan Dollar is $99,875, paid for a 1902-S graded MS67 in 2015. That result reflects both the semi-key status of the S-mint issue and the extreme rarity of finding one in that condition.

Among Proof coins, the record stands at $53,500 for a PR68 sold at David Lawrence Rare Coins in June 2019. For the CAM variety — with only 5 known survivors — the auction record is $34,075 for a PR66CAM sold at Legend Rare Coin Auctions in January 2022.