Collecting silver and gold coins has become a standard investing practice. Silver dollars that are scarce are particularly popular to collect.
These coins have beautiful designs and are made with high-purity silver.
When valuing rare silver dollars, there are several considerations. Like most coins, silver dollars are examined for their quality, condition, and grade. However, low-grade coins will still retain a good value for their story and scarcity alone.
This article will give you a detailed view of these rare and valued coins.
Top 5 Most Valuable Rare Silver Dollars
Scarce silver dollars hold historical significance and often have amazing stories. Because of this, they are often highly sought after by investors and coin collectors. Here are the top 5 rare silver dollars that have the biggest price tags.
1) Heavily Worn 1895 Morgan Dollar – $30,000+
One of the highest valued coins available is the 1895 Morgan Dollar. There are two notable auction sales of this coin. One PR67 graded coin sold for $269,500. Another one with a PR66 grade sold for $150,000. Even 1895 Morgan Dollars that have extensive wear can fetch over $30,000 if the coin still has its rims and peripheral lettering.
Obverse design of this coin is Lady Liberty wearing the Phrygian cap with a band that has the word Liberty. She is surrounded by 13 stars that are meant to represent the 13 colonies. The reverse side has an outstretched winged eagle carrying arrows and an olive branch. Surrounding the eagle are the words: United States of America, One Dollar, and E Pluribus Unum.
2) Less Than 100 Uncirculated 1893-S Morgan Silver Dollars
Considered one of the rarest coins to find, the uncirculated 1893-S Morgan Silver Dollar is highly coveted among collectors. With only 100 uncirculated 1893’s speculated to be in existence, these coins are traded for sometimes millions of dollars. Remarkably, in 2021 a MS-67 graded 1893-S Morgan was sold for over 2 million! Because this coin is so rare, even heavily worn ones can be sold for $1,000.
Lady Liberty decorates the obverse side of the 1893-S Morgan, along with the words E Pluribus Unum, Liberty, and including the date 1893 on the bottom. The common outstretched winged eagle is on the back side of this coin, carrying the olive branch and arrows. An “S” mint mark appears above the inscribed “One Dollar” along with the words “United States of America”.
3) 1889-CC Morgan Silver Dollar was Printed at the Carson City Mint
Rare silver dollars like the 1889-CC Morgan have gained value because of their historical significance. It’s said to be the rarest silver dollar printed at the Nevada Carson City Mint. MS graded 1889-CC coins can easily fetch $10,000+. Circulated 1889-CC Morgan Silver Dollars have even been sold for $1,000+
The 1889-CC Morgan Silver Dollar has the same Lady Liberty on the obverse side, and the eagle with the arrows and the olive branch on the reverse. On the obverse, 1889 is inscribed on the bottom, and the opposite side has a CC mint print.
4) 1794 “Flowing Hair” Silver Dollar
Being the first silver dollar issued by the United States, the 1794 “Flowing Hair” Morgan Silver Dollar is highly sought after. In 2013, a SP66-grade specimen was sold for over $10,000,000! This coin is extremely rare, with only 150-200 existing.
Lady Liberty sits on the obverse side of this coin and has flowing hair, different from later versions. Surrounded by 15 stars for the original states of union, she also has the date 1794 inscribed below her. The reverse side of the coin shows an eagle perched on a rock with a wreath in its beak. It also has the traditional arrows and olive branch seen in later versions.
5) The 1804 Draped Bust Silver Dollar was Not Minted in 1804
Collectors love this coin because of its interesting story. Despite being designed in 1804, the coin wasn’t actually minted until 1834. Back in 2021, a PR68 graded Draped Bust was sold for $7,680,000. These coins are so scarce and desired that they can sometimes go for double-digit millions!
The design work on this coin was different from the others as the obverse side showcases a “draped bust” of Lady Liberty. She is surrounded by stars and has the date 1804 stamped below her. The reverse side has an eagle with a shield, its wings outstretched, and it’s holding arrows and an olive brand in its claws.
In Conclusion
Now you can see, understanding how much rare silver dollars are worth is easy once you know the coin’s history. A well valued, sought-after coin usually comes with a story of American heritage. With some valuing for thousands of dollars, they are a high ticket item. The rarity of these coins make them a great addition to any collection!