1898 Silver Dollar Value: Morgan Mint Marks, Grades and Reflective Fields

In this article

Quick answer

A normal 1898 U.S. silver dollar is a Morgan dollar with 90% silver and approximately 0.7734 troy ounce of fine silver. No mint mark identifies Philadelphia; O and S identify New Orleans and San Francisco. There was no regular 1898-CC or 1898-D Morgan issue.

The PCGS retail guide checked October 22, 2026 lists Philadelphia regular strikes at $92 in Very Fine 20, $120 in Mint State 63 and $265 in Mint State 65. These estimates exclude separate Prooflike and Deep Mirror Prooflike designations. Other mints, a collector Proof or a recognized die variety must be compared with the exact entry.

Coin photos

1898 Philadelphia Morgan dollar obverse: read the complete date beneath Liberty.

Same 1898 reverse: inspect above DO in DOLLAR and below the wreath for a mint mark.

Basics & coin story

George T. Morgan’s design pairs Liberty with a spread-winged eagle. The 1898 date belongs to the original Morgan production era, which began in 1878, rather than the later Peace-dollar series. Philadelphia produced 5,884,000 regular dollars in 1898 according to PCGS.

The issue’s availability also reflects later distribution. PCGS’s historical account describes Treasury releases in the 1950s and early 1960s that brought stored uncirculated 1898 dollars into the market. That is a useful reminder that original mintage and later availability are different facts. It does not mean a particular loose coin is uncirculated or has a documented hoard provenance. Use the Morgan series guide for the wider mint and design system.

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 issues	No mark, O and S
Mint-mark location	Reverse, above DO in DOLLAR and below the wreath

Identification

Read no mark, O or S

Turn to the reverse and inspect the space between the wreath and DOLLAR. An O selects New Orleans, S selects San Francisco, and no mark is normal for Philadelphia. An alleged CC or D paired with 1898 is not a normal date-and-mint combination and needs authentication.

Reflective fields do not automatically mean Proof

Some regular strikes receive Prooflike (PL) or Deep Mirror Prooflike (DMPL) designations. Those are different from the separate collector Proof issue. A photograph can exaggerate reflections, and polishing can create brightness while impairing the surface. Do not assign a designation from shine alone or transfer its price to an ordinary regular strike.

A hoard label is not a date feature

The date’s history includes stored coins released long after production, but a loose 1898 dollar cannot acquire a particular hoard attribution simply because it looks fresh. A claim of provenance needs documentation. Likewise, a VAM die-variety attribution requires matching the correct mint and diagnostics rather than a scratch, stain or nickname from another date.

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
1898 Philadelphia ordinary regular	VF20	$92	PCGS retail guide	Problem-free circulated comparison
1898 Philadelphia ordinary regular	MS63	$120	PCGS retail guide	No PL or DMPL designation included
1898 Philadelphia ordinary regular	MS65	$265	PCGS retail guide	Correct uncirculated grade
Contained silver	Approximately 0.7734 troy oz	0.7734 × silver spot per oz	Metal-content calculation	Not the full collector value or guaranteed offer
O / S / Proof / PL / DMPL / attributed VAM	Exact issue and designation	Use matching evidence	Separate markets	No blanket premium based on reflections

Look for friction on Liberty’s hair and the eagle’s breast, then inspect the cheek and fields for contact marks. Mint State (MS) means no circulation wear. A detailed portrait or bright field does not remove the need to check both faces, and a cleaned coin should not inherit a problem-free guide value.

The contained-silver reference is approximately 0.7734 times the silver price per troy ounce. Collector demand, authenticity, surface status and selling costs affect a transaction separately. Compare completed sales of the same mint, grade and designation. The grading guide and cleaning-identification guide explain the general checks; the 1891 guide is a separate date comparison.

Summary

Find the reverse mint mark, assess wear and surface quality, then investigate any reflective designation or provenance claim. No mark, O and S are normal 1898 issues, but they do not share one universal price. Preserve the surface and use exact grade-and-designation evidence before seeking an offer.

FAQ

What kind of silver dollar was made in 1898?

A normal 1898 U.S. silver dollar is a Morgan dollar with 90% silver and approximately 0.7734 troy ounce of fine silver.

Where is the mint mark on an 1898 Morgan dollar?

It is on the reverse above DO in DOLLAR and below the wreath. O identifies New Orleans, S San Francisco, and no mark Philadelphia.

Was there an 1898-CC Morgan dollar?

There is no regular 1898-CC issue. A coin presented with that date-and-mint combination should be authenticated.

Does a mirrorlike 1898 dollar have to be a Proof?

No. Regular strikes can have reflective fields and separate PL or DMPL designations. Polishing and photographic lighting can also exaggerate brightness.

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.