Investing in the 1879 Morgan dollar: values and varieties
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The 1879 Morgan dollar stands among the most recognized coins in American numismatic history – a large, weighty silver dollar that carries both genuine historical significance and real collector demand. Struck at four U.S. Mint facilities during the second year of the Morgan series, this coin offers something for every level of collector: affordable circulated examples, scarce mint-state gems, and fascinating die varieties worth hunting. Whether you’re buying your first silver dollar or assessing an inherited collection, understanding what drives value here will save you money and help you make smarter decisions.
Silver currently trades around $82 per ounce. That puts the raw melt value of any 1879 Morgan at roughly $64, since each coin contains 0.7734 troy ounces of pure silver in a 90% silver composition. But melt value is only the floor. Condition, mint mark, and eye appeal push most examples well above that number – sometimes dramatically so.
The History Behind the 1879 Morgan Dollar
The Morgan dollar was born from politics as much as economics. The Bland-Allison Act of 1878 forced the U.S. Treasury to purchase between two and four million ounces of silver each month, a concession to Western mining interests who were watching silver prices slide. George T. Morgan, then assistant engraver at the U.S. Mint, designed the coin. Lady Liberty on the obverse was modeled after Anna Willess Williams, a Philadelphia model whose profile became one of the most iconic images in American coinage. The reverse features a heraldic eagle clutching arrows and an olive branch, surrounded by “UNITED STATES OF AMERICA” and “IN GOD WE TRUST.”
1879 was only the second year of production. The series had debuted in 1878 with considerable fanfare, and by 1879 the mints were running at full capacity. The coins circulated widely in the West – used in saloons, general stores, and mining camps – but enormous quantities also sat in Treasury vaults for decades before entering the collector market. Experts estimate only about 15% of all Morgan dollars produced have survived to the present day, a combination of heavy circulation wear and large-scale melts in 1918 and again during silver shortages in the 1960s.
For a broader look at the series history, Morgan & Peace Silver Dollar history covers the full arc from 1878 through the Peace dollar era.
1879 Morgan Dollar Mint Marks and Mintages
Four mints struck Morgan dollars in 1879, and the differences between them matter enormously for value.
14,806,000 coins struck – highest mintage of any 1879 issue, no mint mark
2,887,000 coins struck – less commonly discussed but a solid mid-range issue
756,000 coins struck – the rarest 1879 issue, tied to Nevada’s Comstock Lode silver rush
9,162,991 coins struck – abundant but carries key early-date status and VAM varieties
The Philadelphia issue is the most common by a wide margin. At nearly 15 million coins, it shows up regularly in circulated grades and is an ideal starting point for new collectors. The Carson City coin is a different story. With only 756,000 struck and many lost to circulation or melting, the 1879-CC commands serious premiums even in lower grades. Its connection to Nevada’s silver boom gives it strong collector appeal beyond just scarcity. Many surviving CC Morgans entered the market through GSA (General Services Administration) sales in the 1960s, which boosted their fame but didn’t dramatically inflate the supply of high-grade examples.
The San Francisco issue produced over nine million coins, but it carries semi-key status for early-date collectors and offers interesting die variety hunting for advanced enthusiasts.
1879 Morgan Dollar Value by Grade and Mint
Condition drives value more than any other single factor. The Sheldon scale runs from 1 (barely identifiable) to 70 (perfect), and the difference between an MS-63 and an MS-65 can mean thousands of dollars on rarer issues.
1921 Morgan Dollar Value Guide – Accurate Precious Metals Refineries
| Grade | 1879-P Value | 1879-CC Value | 1879-S Value |
|---|---|---|---|
| VF-20 | $70-$90 | – | $60-$80 |
| VF-35 | $80-$100 | $500-$700 | $70-$90 |
| AU-50 | $100-$150 | $1,500-$2,500 | $110-$160 |
| MS-63 | $200-$300 | $10,000-$15,000 | $200-$280 |
| MS-65 | $400-$600 | $50,000+ | $290-$350 |
| MS-67 | $5,000-$10,000+ | Extremely rare | $1,000+ |
These ranges reflect current market conditions with silver near $82 per ounce. High silver prices lift the floor across all grades, but the numismatic premium – the value above melt – accounts for 90% or more of the price on any coin in MS-63 or better. A gem 1879-P in MS-65 is worth roughly five to six times its melt value. A gem 1879-CC is worth close to 800 times melt.
Prooflike (PL) and deep mirror prooflike (DMPL) Philadelphia examples carry additional premiums for their reflective surfaces. These are not errors – they result from fresh dies striking early in a production run, creating a mirror-like field that contrasts sharply with the frosted devices.
Morgan silver dollar values explained goes deeper on how grade and eye appeal interact across the full series.
Understanding VAMs and Die Varieties
VAM stands for Van Allen-Mallis, named after the researchers who catalogued Morgan dollar die varieties. Each die used to strike coins was hand-made, and subtle differences between dies created collectible varieties that advanced collectors actively seek.
The 1879-S is particularly interesting for VAM hunters. Doubled dies and other die markers appear on specific San Francisco examples, and a magnifying glass or loupe is the basic tool needed to start identifying them. The Morgan dollar VAM varieties page covers the identification process in detail.
Philadelphia examples offer fewer dramatic VAMs, but DMPL coins from any mint are worth flagging separately when submitting for grading. The reflective surfaces must be identified at submission – a grader won’t automatically note them unless you flag the designation.
How to Assess an 1879 Morgan Dollar You Already Own
If you have an 1879 Morgan dollar sitting in a drawer or inherited with an estate, here is a practical way to assess what you have.
Look at the reverse, just above the “ONE DOLLAR” text. No letter means Philadelphia. “CC” means Carson City. “S” means San Francisco. “O” means New Orleans.
High points on the obverse (hair above the ear, cheek) and reverse (eagle’s breast feathers) wear first. Heavy wear means VF or lower. Sharp details with only light contact marks suggest AU or mint state.
The flat areas around Liberty’s portrait should have luster – a shimmering quality visible when you tilt the coin under light. Dull, hazy, or scratched fields suggest cleaning.
Hairlines (fine parallel scratches) across the fields are the telltale sign of cleaning. A cleaned coin grades separately as “details” and sells at a steep discount.
A genuine 1879 Morgan dollar weighs 26.73 grams. A significant deviation suggests a counterfeit or altered coin. Morgan dollar weight guidance explains the tolerances in detail.
For any coin that looks uncirculated or appears to be a CC or S issue, professional grading by PCGS or NGC protects value and confirms authenticity.
The Silver Content and Melt Value
Every 1879 Morgan dollar contains 0.7734 troy ounces of pure silver in a 90% silver alloy. The coin weighs 26.73 grams total, with 24.06 grams of pure silver content. At today’s silver spot price of around $82 per ounce, the melt value works out to approximately $63-$64 per coin.
That melt value is the absolute floor – no genuine 1879 Morgan dollar should sell for less than that in today’s market. In practice, even heavily worn examples in Good-4 condition trade above melt because of their numismatic recognition. The Morgan silver dollar melt value calculator on our site lets you check current melt value as silver prices move.
Common Mistakes Collectors Make
Buying and Selling 1879 Morgan Dollars
The best venues for buying high-grade examples are major auction houses like Heritage Auctions and Stack’s Bowers, where population data is transparent and competition sets fair market prices. For circulated examples and mid-grade mint state coins, reputable dealers and coin shows offer solid options. Always verify that any significant purchase comes in a PCGS or NGC holder.
When selling, the approach depends on what you have. Common circulated Philadelphia examples sell quickly to local dealers or through silver coin selling options. High-grade or scarce mint-mark examples – particularly any 1879-CC – deserve auction consideration where competitive bidding can push prices above dealer offers.
For anyone looking to sell Morgan silver dollars or other numismatic coins, Accurate Precious Metals offers a straightforward path in either direction. Based in Salem, Oregon, with over 12 years in business and more than 1,000 five-star reviews, Accurate Precious Metals is a specialized precious metals dealer – not a pawn shop – with the expertise to assess coins fairly. Local customers can bring coins in person to the Salem location for a direct evaluation. Customers anywhere in the United States can use the mail-in service at AccuratePMR.com, which includes free insured shipping, professional assessment, and fast payment. Both options are available regardless of quantity – whether you’re selling one coin or an entire collection.
Accurate Precious Metals is also an NGC Authorized Dealer, which means coins submitted for grading through the shop receive professional handling. For collectors building a set or looking to upgrade, the inventory at AccuratePMR.com includes Morgan dollars across multiple dates and grades, with pricing updated to reflect live spot prices.
Building a Morgan Dollar Collection Around 1879
The 1879 date fits naturally into several collecting strategies. Type collectors who want one example of a Morgan dollar will find the Philadelphia issue affordable and attractive. Date-and-mint collectors working through the full series will need all four 1879 issues, with the CC being the most challenging and expensive. Specialists focused on the Carson City Mint often treat the 1879-CC as a centerpiece piece given its scarcity and historical connection to the Comstock Lode.
For collectors interested in the full series, completing a Morgan dollar set is a rewarding long-term project. The 1879 issues represent the early years of production before the series expanded and contracted through the 1880s and 1890s.
A random-year Morgan silver dollar is also a practical option for collectors who want the design and silver content without paying a date-specific premium – useful for gifts or entry-level collecting.
Why the 1879 Morgan Dollar Still Matters Today
More than 145 years after it was struck, the 1879 Morgan dollar continues to attract collectors, investors, and history enthusiasts. Part of its appeal is tactile – at 38.10 mm in diameter and 26.73 grams, it has a presence in the hand that smaller modern coins lack. Part is historical – these coins circulated during the Gilded Age, through the silver debates of the 1880s and 1890s, and survived into the 20th century largely through luck and collector interest.
The practical case for owning one is also solid. With silver at $82 per ounce, the melt floor provides downside protection that purely numismatic coins lack. High-grade examples have historically appreciated as the collector base for Morgan dollars remains deep and active. And the four-mint structure of the 1879 issue means there is always a next step – a better grade, a different mint mark, a VAM variety – to pursue.
For anyone ready to buy, sell, or simply get a fair assessment of what they have, Accurate Precious Metals is the right starting point. Call (503) 400-5608, visit in person in Salem, Oregon, or use the mail-in selling service from anywhere in the United States.
Frequently Asked Questions
What is the melt value of an 1879 Morgan dollar today?
With silver at approximately $82 per ounce, the melt value is around $63-$64. Each coin contains 0.7734 troy ounces of pure silver in a 90% silver alloy.
Which 1879 Morgan dollar is the rarest?
The 1879-CC (Carson City) is the rarest 1879 issue with only 756,000 struck. High-grade examples are genuinely scarce and command significant premiums. The 1879-P (Philadelphia) is the most common with nearly 15 million produced.
How can I tell if my 1879 Morgan dollar has been cleaned?
Look for fine parallel scratches called hairlines across the flat fields of the coin. Cleaned coins also tend to look unnaturally bright or stripped of toning. Cleaning permanently reduces collector value, and grading services designate cleaned coins separately.
Is the 1879 Morgan dollar a good investment?
We are not financial advisors and cannot predict future prices. Historically, high-grade Morgan dollars have shown strong collector demand, and the silver content provides a baseline value. The 1879-CC in particular has a limited supply that tends to support prices over time.
Where is the mint mark on an 1879 Morgan dollar?
On the reverse side of the coin, just above the text “ONE DOLLAR.” Philadelphia-minted coins have no mint mark. Carson City coins show “CC,” San Francisco shows “S,” and New Orleans shows “O.”
Should I clean my 1879 Morgan dollar before selling it?
No. Cleaning a coin – even with gentle methods – destroys the original surface and dramatically reduces its value to collectors. Sell it as-is and let a professional assess the natural condition.
Can I sell my 1879 Morgan dollar to Accurate Precious Metals?
Yes. Accurate Precious Metals buys all Morgan dollars and numismatic coins. Local customers can visit the Salem, Oregon location in person. Customers anywhere in the U.S. can use the mail-in service at AccuratePMR.com for free insured shipping and fast payment.
What does DMPL mean on a Morgan dollar?
Deep Mirror Prooflike. It describes coins struck from fresh dies that produce a highly reflective, mirror-like field contrasting with frosted devices. DMPL coins carry significant premiums over standard examples of the same date and grade.
