1891 Silver Dollar Value: Morgan Mint Marks, Grades and Varieties

In this article

Quick answer

A normal 1891 U.S. silver dollar is a Morgan dollar containing 90% silver, with approximately 0.7734 troy ounce of fine silver. No mint mark identifies Philadelphia; CC, O and S identify Carson City, New Orleans and San Francisco. These are different issues with different markets.

The PCGS guide checked October 22, 2026 lists a Philadelphia regular strike at $92 in Very Fine 20, $250 in Mint State 63 and $2,400 in Mint State 65. These retail estimates apply to the stated mint and grade without a Prooflike designation. They do not value every worn 1891 dollar, a CC coin or an attributed die variety.

Coin photos

1891 Philadelphia Morgan obverse: read the complete date beneath Liberty.

Same 1891 reverse: the mint-mark area is above DO in DOLLAR, below the wreath.

Basics & coin story

George T. Morgan’s dollar belongs to the silver-dollar production era that began in 1878. The 1891 issue also intersects with the recoinage of Trade Dollar silver: the PCGS historical narrative describes legislation directing Treasury-held Trade Dollars and bullion into standard silver dollars, including production at Philadelphia and New Orleans.

Philadelphia’s reported original mintage is 8,693,556. That total is not the surviving supply in any one grade. The substantial gap between the Philadelphia MS63 and MS65 references illustrates why a common-looking date can become much more demanding at a specific preservation level. Compare the broader mint system in the Morgan silver-dollar guide.

Identification at a glance
Feature	What to check
Type / denomination	Morgan dollar / $1
Designer	George T. Morgan
Metal	90% silver, 10% copper
Nominal weight / diameter	26.73 g / 38.10 mm
Fine silver	Approximately 0.7734 troy ounce
Edge	Reeded
Regular mint marks	None, CC, O and S
Mint-mark location	Reverse, above DO in DOLLAR and below the wreath

Identification

Read the reverse mint mark

Look between the wreath and DOLLAR. No letter is normal for Philadelphia, CC means Carson City, O New Orleans and S San Francisco. Record the mark with the date before comparing a sale. An 1891-D is not a normal Morgan dollar issue; a coin presented that way needs authentication rather than a Denver price entry.

Match the die variety to its mint

PCGS lists a Philadelphia Doubled Ear attribution among the 1891 VAM varieties. VAM numbers describe particular die combinations and diagnostics; a line near the ear or a scratch across Liberty does not automatically establish the named variety. Other mints have their own lists. Do not transfer a Philadelphia nickname or price to an O, S or CC coin.

Separate Prooflike from Proof

A regular strike may receive a Prooflike (PL) or Deep Mirror Prooflike (DMPL) designation. Those reflective-field designations do not make it a separately manufactured Proof. Polishing can make a coin bright while impairing its surface. Compare the correct issue, numerical grade and designation, and investigate hairlines before assigning a reflective-coin premium.

Condition & value

Amounts are in U.S. dollars. PCGS retail-guide examples were checked October 22, 2026 and apply only to the stated issue, grade and designation. They are not guaranteed purchase offers; current market conditions and selling costs can change the amount received.

Value comparisons: match the issue before using a price
Issue	Grade / condition	Value or reference	Basis	Important condition
1891 Philadelphia, ordinary regular	VF20	$92	PCGS retail guide	Problem-free circulated example
1891 Philadelphia, ordinary regular	MS63	$250	PCGS retail guide	No PL or DMPL designation included
1891 Philadelphia, ordinary regular	MS65	$2,400	PCGS retail guide	Exceptional preservation must be established
Contained silver	Approximately 0.7734 troy oz	0.7734 × silver spot per oz	Metal-content calculation	Not the full collector value or guaranteed offer
1891-CC / O / S / attributed VAM	Exact issue, grade and designation	Use matching entry	Separate comparisons	Philadelphia prices are not universal

Inspect Liberty’s cheek and open fields for contact marks, then the hair above the ear and the eagle’s breast for friction. A weak strike and circulation wear are different problems, and a sharp reverse does not erase damage on the obverse. Mint State (MS) requires no circulation wear; the date alone cannot justify an MS65 comparison.

The contained-silver formula provides a transparent metal reference without fixing today’s spot price. Collector premiums can exceed that reference, while dealer spreads and transaction costs affect an offer. For a graded coin, verify its complete label and certification before comparing completed sales of the same mint, grade and designation.

Do not clean a dollar to improve its shine. Use the cleaning-identification guide and the grading scale, then keep neighboring 1889 Morgan dollars in a separate price comparison.

Summary

Find the reverse mint mark, assess the surface and grade, then investigate any specific variety or reflective designation. All four normal 1891 mint issues share the Morgan design and 90% silver standard, but not one universal price. Preserve the coin and compare matching evidence before seeking a purchase or sale quote.

FAQ

Is a silver dollar dated 1891 a Morgan or Peace dollar?

A normal 1891 U.S. silver dollar is a Morgan dollar. The Peace design began in 1921.

What does no mint mark mean on an 1891 dollar?

It normally identifies Philadelphia. CC, O and S are found on the reverse above DO in DOLLAR and identify other mints.

Was there an 1891-D Morgan dollar?

There is no normal 1891-D Morgan dollar issue. A coin presented with that date-and-mint combination should be authenticated.

Does an MS65 price apply to a worn 1891 silver dollar?

No. A worn coin requires its own mint, grade and surface assessment. The Philadelphia MS65 guide reference applies to that specific preservation level, not every 1891 dollar.

References

References and further reading

Sources and quoted guide evidence checked October 22, 2026. Guide estimates, historical sales, face value and metal-content calculations are identified separately.