The 1881 Morgan silver dollar is a highly sought-after coin due to its historical value and scarcity. As one of the earliest Morgan silver dollars produced in the United States, it has become an important part of American numismatic history.
In addition to its historical significance, there are also several US Mint locations and coin features that add to its desirability among collectors. These include errors and varieties, as well as pristine condition coins that can range from extremely fine to mint state quality.
In this blog post, we will explore all aspects of this valuable coin including year production numbers, market values, and so much more so that you can get a better understanding of what makes this silver dollar so special.
Ready to dive in? Let’s get started!
1881 Silver Dollar Details
- Category: Morgan dollars
- Mints: Philadelphia, New Orleans, San Francisco, and Carson City
- Total mintage: 27,927,975
- Obverse designer: George T. Morgan
- Reverse designer: George T. Morgan
- Edge: Reeded
- Diameter: 38.1 millimeters (1.5 inches)
- Thickness: 2.9 millimeters (0.09 inches)
- Composition: 90% sillver, 10% copper
- Weight: 26.73 grams
Collectors have deemed this coin highly desirable due to the rarity of some of its mint locations, age, and iconic design.
The 1881 Morgan silver dollar is composed of 90% silver and 10% copper, which gives it its silver-gray coloration. This also gives it a distinct appearance compared to other coins from the era. In addition, it also weighs 26.73 grams with a diameter of 38.1 millimeters and a thickness of 2.9 millimeters, making it slightly larger than contemporary U.S. coins today.
Its retail value varies based on its condition, which we will discuss in detail in future sections of this blog post, and rare errors can make these coins be worth still significantly more depending on their rarity and demand at auction houses or coin dealerships around the world.
The 1881 Morgan silver dollar was produced by the United States Mint in four distinct locations: San Francisco, Philadelphia, Carson City, and New Orleans. You can find the mint mark on the bottom center of the reverse side of the coin, either the letter “S” (San Francisco), no mint mark letter (Philadelphia), the letter “CC” (Carson City), or the letter “O” (New Orleans).
On the obverse side of the 1881 silver dollar is an image of Lady Liberty’s profile with curly flowing hair, wearing a Phrygian cap that has the word “LIBERTY” across the headband portion. She is surrounded by stars, as well as the date at the bottom center, and the phrase, “E Pluribus Unum” across the top, which means “Out of Many, One.”
The reverse side of the coin features an eagle with wings spread wide and arrows in one claw and an olive branch in the other. His head is turned to the left but his body is facing straight forward. The words “United States of America” and “One Dollar” surround the perimeter of the coin, and the phrase “In God We Trust” appears above the eagle’s head.
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Value Chart
1881 Silver Dollar Value Chart |
|||||
| Mint Mark | Good | Fine | Extremely Fine | Uncirculated | Proof |
| 1881 No Mint Mark Silver Dollar | $40 | $51 | $57 | $73-$577 | $4,367 |
| 1881 S Silver Dollar | $40 | $51 | $57 | $73-$252 | / |
| 1881 CC Silver Dollar | $356 | $433 | $524 | $627-$1,238 | / |
| 1881 O Silver Dollar | $40 | $51 | $57 | $80-$215 | / |
1881 Silver Dollar Values and Varieties Guides
Now that you know a bit more about the 1881 Morgan silver dollar, let’s take a look at some of its value and varieties. As mentioned earlier, the 1881 silver dollar was minted at four US Mint locations: San Francisco, Philadelphia, Carson City, and New Orleans with varying mint marks. All four locations produced a total of 27,927,975 coins in 1881, making it a somewhat common date of the series, yet rare enough within certain Mint locations.
Let’s check each of them out in more detail.
1881 No Mint Mark Silver Dollar Value
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: None
- Place of minting: Philadelphia
- Year of minting: 1881
- Face value: $1
- $ price: $40 to $4,367
- Quantity produced: 9,163,975
- Designer: George T. Morgan
The 1881 no mint mark silver dollar was produced at the US Mint location in Philadelphia, Pennsylvania. Several coins were minted here, totaling about 9,163,975. It has a retail value of $40 in “Good” condition but can be worth much more if it grades higher.
For example, an 1881 Philadelphia silver dollar that grades in “Fine” condition can be worth about $51 and can be worth about $57 in “Extremely Fine” condition. Coins that are in the “Uncirculated” category can range from $73 to $577 or more depending on their demand. One even sold for an amazing $28,000!
Lastly, there is a Proof coin variety from Philadelphia. A Proof coin is one that was specifically made for collectors and not to be circulated in any way. These coins are incredibly beautiful, highly detailed, and mirror-like in appearance due to their specialized production process.
A Proof 1881 silver dollar from Philadelphia can be worth an impressive $4,367 depending on its quality level. And if you think that valuation is amazing, your jaw will drop when you find out that one of these Proof coins sold at auction for a stunning $105,000!
1881 S Silver Dollar Value
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: None
- Place of minting: Philadelphia
- Year of minting: 1881
- Face value: $1
- $ price: $40 to $252
- Quantity produced: 12,760,000
- Designer: George T. Morgan
The 1881 S silver dollar is the most common variety of this coin, with a mintage of 12,760,000 coins. It has the same retail value (starting off) as the Philadelphia mintage, coming to $40 in “Good” condition, $51 in “Fine” condition, and $57 in “Extremely Fine” condition.
However, it is generally worth less than the Philadelphia mintage in the higher grade of “Uncirculated.” For example, an 1881 S silver dollar can be worth around $73 to $252 or more. However, one that was in mint state 69 (absolutely perfect is a grade 70) actually sold at auction for $32,000, so it’s definitely still a valuable coin if the grade is high!
1881 O Silver Dollar Value
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: None
- Place of minting: Philadelphia
- Year of minting: 1881
- Face value: $1
- $ price: $40 to $1,215
- Quantity produced: 5,708,000
- Designer: George T. Morgan
The 1881 O silver dollar is the third most common variety of this coin, with a mintage of 5,708,000 coins that year in New Orleans. Its retail value is the same as the no mint mark and the S mint mark in terms of “Good,” “Fine,” and “Extremely Fine.” Coins in “Good” condition are worth about $40, coins in “Fine” condition are about $51 in value, and coins in “Extremely Fine” condition are worth about $57.
In the highest grade of “Uncirculated,” it can be worth $80 or up to $1,215, but one even sold for over $26,000 at an auction recently!
1881 CC Silver Dollar Value
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: None
- Place of minting: Philadelphia
- Year of minting: 1881
- Face value: $1
- $ price: $356 to $1,238
- Quantity produced: 296,000
- Designer: George T. Morgan
The 1881 CC silver dollar is the rarest variety of this coin, with a mintage of only 296,000 coins. Essentially, all conditions of this coin will be worth at least a couple hundred dollars, due to its rarity.
It has a value of $356 in “Good” condition and a value of $433 in “Fine” condition. An 1881 CC silver dollar that grades in the “Extremely Fine” condition can be worth about $524, and those that are in “Uncirculated” condition can be worth about $627 to $1,238. One in mint condition even sold for $28,000 at auction!
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1881 Silver Dollar History
The 1881 Morgan silver dollar was minted from 1878 to 1904 and again in 1921. George T. Morgan was tasked with designing the Morgan silver dollar in 1877 and his design was approved by officials at the U.S. Mint a year later. The coin was then created in 1878 and became an instant success among collectors and investors alike due to its iconic design and silver content.
This helped to establish the Morgan dollar as one of the most popular coins ever produced by the U.S. Mint, which continues to this day.
1881 Silver Dollar Grading
When it comes to 1881 silver dollars, the condition of the coin is very important when determining its value. Coins that have been graded higher are typically worth more than those that have been graded lower. Here are the different grades you may come across when collecting 1881 silver dollars:
Good
A coin in “Good” condition has been heavily circulated and will show significant wear. The coin’s design will be worn and there may be some damage to the surface.
Fine
A coin in “Fine” condition has also been heavily circulated but less so than a coin in “Good” condition. The coin’s design will be somewhat worn but still visible. There may be minor damage to the surface but it shouldn’t be too noticeable.
Extremely Fine
A coin in “Extremely Fine” condition has seen little circulation and will show only slight wear. The coin’s design will be very sharp and there should be no major damage to the surface.
Uncirculated
An “Uncirculated” 1881 silver dollar is a coin that has never been circulated and therefore shows no signs of wear. The coin’s design will be pristine, with no scratches or marks on the surface.
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Lists of 1881 Silver Dollar Error
When it comes to collecting 1881 silver dollars, one must also consider errors that may exist. Errors are coins that were improperly struck or mishandled during production. Here are some of the most interesting 1881 silver dollar errors to look out for:
1881 Silver Dollar Failed Die Obverse
This is a rare error that occurred when the die used to strike the coin failed to produce a quality image on one side of the coin – in this case, the obverse side. The result is an unfinished obverse side of the coin, with parts of the design missing or incomplete. One particular coin in this condition sold at auction for $1,600!
1881 Silver Dollar Off Center Strike
This is an error where the die used to strike the coin did not line up correctly and thus resulted in a misaligned image. The result is a coin where the design is slightly or completely off center. An 1881 S silver dollar with this error – at a 5% off center strike – sold for $3,000 at an auction recently.
1881 Silver Dollar Struck Through Debris
This is an error that occurs when debris, such as dirt or metal chips, get stuck in the die and then transferred to the coin. The result is a coin with lines or spots on it that were not intended to be part of the design. One 1881 S silver dollar in this condition sold recently for a little over $100 at auction.
1881 Silver Dollar Frequently Asked Questions
Now that you know the basics of 1881 silver dollars, you may still have some questions. Here are some of the most commonly asked questions about 1881 silver dollar coins:
How many 1881 silver dollars were minted?
Millions of 1881 silver dollars were produced at the Philadelphia, New Orleans, Carson City, and San Francisco Mints combined. Almost 28 million Morgan silver dollar coins were struck in 1881.
Are 1881 silver dollars rare?
While not as rare as other dates in the series, 1881 silver dollars are still considered to be relatively scarce. Coins in higher grades—especially uncirculated coins—tend to be more difficult to find and may command a higher premium.
Conclusion
In conclusion, while 1881 may not be the rarest or most valuable date of this series, it is still highly desirable given its age compared to other types of coins. With such great history behind them, it’s no surprise why 1881 silver dollars are so sought after by collectors and investors. Whether you’re looking for a piece of history or an investment opportunity, the 1881 Morgan silver dollar is always a great choice.
And don’t forget, if you ever find an 1881 silver dollar with errors, it can add even more value to your collection. With a little bit of luck, you can find that rare and valuable coin that is sure to increase in value over time. Happy collecting!
Do you love Morgan silver dollars? Let us know in the comments!