Silver dollars were once the accepted currency of the United States. The first silver dollar was minted way back in 1794, and it was one of the most widely-used forms of specie until the U.S. officially transitioned to paper currency in 1970.
The good news is that the silver dollar value has actually increased in the last few decades. The value of a silver dollar continues to rise with the price of silver. Below, we answer the question “how much is a silver dollar worth?” Our Twery’s experts will teach you what you need to know about silver dollars, their value, and the more popular options.
How Much is a Silver Dollar Worth?
To know the value of your silver dollar, you have to understand how silver and coins are valued. The value of numismatic metals (metal in coin form) is determined in two ways:
- Melt value – This is the value of the metal alone. A silver dollar will usually weigh anywhere from 26 to 32 grams, though there are coins that weigh more. Given the fluctuating price per ounce of silver, that’s usually a melt value of anywhere from $10 to $20.
- Collectors value – This is more than just the value of the metal, but it’s the value of the coin itself to a collector. Certain silver dollars are rarer than others, so collectors will be willing to pay a higher price for them than just their metal or melt value. For example, the 1870-S Seated Liberty silver dollar can fetch as much as $2.5 million. The fact that only 15 of them were ever made makes them extremely rare, and thus highly desirable for collectors.
When it comes to finding the value of silver dollars, you have to take these two things into account.
- American Eagle Silver Dollar – The American Eagle Silver Dollar is one of the most commonly available silver dollars in the country. It was minted in 1986, and continues to be minted to this day. Its current melt value is around $20 per coin, as it contains 99.93% silver and weighs a little over 31 grams.
- Eisenhower Silver Dollar – The Eisenhower Silver Dollar was only printed between 1971 and 1978, with just under 48 million coins put into circulation. The melt value of this silver dollar is actually fairly low—between $5 to $10. This is due to the fact that the silver dollar really only contains 40% silver. The rest is copper, so the weight of the dollar is 24 grams—far lower than a real silver dollar.
- The 1972 High-Relief Eisenhower Silver Dollar is worth around $100, due to the modifications that were made to the coin’s relief. The High-Relief coin has prominent shadowing around the face, something not found on other coins.
- The 1972 Low-Relief Eisenhower Silver Dollar is worth $18; lacks the detail of the pricier version, but is still a collector’s item.
- The 1973-S Silver Eisenhower Silver Dollar is worth $45, making it the most valuable of the commonly available silver dollars. Its worth was much higher in 1981, but it’s still a good coin to trade in.
Peace Silver Dollar
The Peace Silver Dollar was minted between 1921 and 1935 in Philadelphia, with a little over a million of these coins minted. It’s made of 90% silver, so it has a melt value of roughly $15 (depending on the price of silver). It weighs just under 27 grams and is 38 millimeters wide, with the face of Lady Liberty on one side and a bald eagle on the other.
- The 1934 Large “D” Peace Silver Dollar is worth $52, thanks to the obscure change to the Denver mint mark.
- The 1928 Peace Silver Dollar is worth $375, due to the fact that very few of the original 360,000 coins remain today.
- The 1935 4 Rays Peace Silver Dollar is worth $55, because it’s a highly rare collectible version of the Peace Silver Dollar.
The Morgan Silver Dollar was minted between 1878 and 1921, with only 749,000 of them ever produced and put into circulation. This rarity and its limited availability make it one of the most sought after silver dollars.
- The 1895 Morgan Silver Dollar is worth about $30,000 to collectors, due to the fact that fewer than 13,000 of them were ever produced.
- The 1889-Carson City Morgan Silver Dollar is worth around $940.
- The 1893-S Morgan Silver Dollar is worth over $4,100, with only 100,000 of them ever produced.
- The 1881-CC Morgan Silver Dollar is worth $380, given that it’s one of the scarcer Carson City mint dollars produced.
Oddly enough, the melt value of the Morgan Silver Dollar is only around $15. It contains 90% silver and weighs just 26.7 grams.
Rare Silver Dollar Values
The values listed above are for the most commonly available silver dollars, but there are a few collectors fortunate enough to have rarer silver dollars. The value of silver dollars can rise VERY high—up to $10 million, in one case—if the coin is sufficiently rare.
Here are the values of some of the rarer silver dollar coins:
- 1794 Flowing Hair silver dollar – This silver dollar is worth $10 million, as it was specially struck. It’s actually believed to be the very first silver dollar ever produced, hence its high collectors’ value.
- 1870-S Seated Liberty silver dollar – Just 15 of these silver dollars were ever produced, making it a fairly rare type of numismatic metal. You can get up to $2.5 million for this coin!
- 1804 Draped Bust silver dollar – This is known as “The King of American Coins”, and it’s one of the most highly sought-after coins among collectors. It can fetch prices of up to $4.1 million.
- 1851 proof Seated Liberty silver dollar – All Seated Liberty dollars are very rare, which is what makes them highly desirable. This 1851 coin is worth around $225,000.
- 1846 proof Seated Liberty silver dollar – Dating back to 1846, this is a highly rare coin, and one of the hardest for collectors to find. It’s worth around $125,000.
As you can see, a silver dollar can have A LOT more value than its melt value. It makes sense that you’d want to find out more about the value of your silver dollar coins before selling them off.
Let Twery’s help you out! Our professional appraisal service will give you the true value of your coins. Our experts are well-versed in rare coins, and we can help you find how much your coin is really worth.
What did you think of the information above? Pretty amazing how coins can be worth so much, isn’t it? Leave a comment below and let us know what your favorite silver coin is…