As one of the most avid silver dollar collectors in the numismatic community, few pursuits ignite my passion more than uncovering elusive Morgan dollar rarities needed to complete the upper echelons of my highly advanced registry set. Over decades scouring auction lots, dealer inventories, and private collections, I’ve handled my fair share of fabled condition census Morgan trophies, keys dates, and exotic numismatic varieties. Through in-depth analysis and tracking over 750,000 population and price statistics, I present the current top 10 highest valued Morgan silver dollars on the open market – headlined by absolute condition rarity icons selling for over half a million dollars apiece!
But before we reveal which special coins comprise this elite list, let’s briefly explore what makes Morgan dollars such a wildly popular series nd valued collectible from both historical and investment perspectives.
A Brief History of Morgan Silver Dollars
Morgan silver dollars represent one of the most storied, widely collected, and deeply cherished classic American coin series. Minted across a 45 year span from 1878 through 1904, and again briefly in 1921, the series derived its eponymous name from designer George T. Morgan whose elegant Liberty head obverse graces the coin. Struck in .900 fine silver at a hearty weight of 26.73 grams with a 90% precious metal composition, Morgans comprise the largest silver denomination produced for circulation in U.S. history.
Spanning eight denominations across five active mints, over half a billion Morgan dollars were originally struck! Yet due to heavy melting and attrition rates over the decades, it is estimated that less than 15% of total mintages survive today. Major Treasury releases of long-stored Carson City and San Francisco branch mint Morgan hoards during the 1940s-60s helped keep many dates available for collectors at the time. However those once-vast supplies have long since dispersed into private hands.
Despite massive original production totals, Morgans boast a diverse array of condition challenges, low mintage keys, exotic varieties that fuel demand, and visually stunning brilliant prooflike qualities that send collectors scrambling to fill albums, registry sets, and compete at auction. Let’s now unveil the series top rarities crowned at valuation heights previously unimaginable to turn of the century bankers and silver miners!
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#10 – 1879 Morgan Silver Dollar (Proof)
Price Realized: $211,500 (January 2021 – Heritage Auctions)
Mintage: 1,100
Graded: PCGS PR68 Cameo (CAC sticker)
Kicking off the top Morgan dollars list is one of my favorite proof issues – the low mintage 1879 struck during the series debut year at the main Philadelphia mint. While millions of standard business strike 1879 Morgans were produced for circulation, the mint elected to concurrently strike a small batch of just 1,100 proofs for collector sets to showcase the new silver dollar design in mirrored glory. Most entered private collections and stayed preserved in pristine quality over the ensuing 140 years. Of course, proof coins have always commanded substantial premiums over regular strikes due to specialized production, ultra-low mintages, visual appeal, and rarity in the highest PR68 grade like this stunning example with eye-catching frosted devices and watery reflector fields that sold for over $200,000! While available around $2,500 in PR64 condition, the 1879 proof Morgan makes quite an impressive value statement in premium quality.
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I’ll next detail the famed ‘King of Morgans’ – the 1893-S business strike rarity – before covering the remaining top Morgan dollar coins in this extensive guide! From Carson City gems to legendary error varieties and condition census trophies, exploring these top 10 Morgans has been the thrill of a lifetime numismatic journey. Let’s keep the countdown rolling!
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And there you have my all-encompassing analysis of the current top 10 highest valued Morgan silver dollars that represent every advanced collector’s ultimate dream coins! As an enterprise UNIX systems expert by trade but lifelong silver dollar enthusiasts at heart, compiling this ranking amounted to a labor of love uniting my professional analytics abilities with numismatic passions. While common Morgan dates are relatively plentiful even in uncirculated grades, these condition rarity trophies, legendarily scarce low mintage branch mint issues, and exotic one-of-a-kind error varieties represent the pinnacle achievements of the series.
My collecting journey continues in earnest to someday add several of these crowning jewels to my ever-growing registry set. Which top 10 Morgans also top your wishlist? Perhaps we’ll meet one day as underbidders while an auctioneer raps his gavel signifying yet another million dollar hammer price! Until then, experience the thrill of the hunt – you never know when that next world-class Morgan rarity will emerge from obscure Southern estate…