The 1882 silver dollar value depends on each particular coin’s condition, but you can expect that even the worst preserved piece is valuable. The reason is 90% of the silver that it contains and a low number of surviving coins.
As expected, collectors particularly look for high-grade pieces, but their number is limited after years of use and almost 150 years of existence. One of the most challenging things is to estimate their price because of numerous factors affecting it. Let’s take a look.
1882 Morgan silver dollar value Chart
|Condition||1882 No Mint mark silver dollar||1882 S
|Mint state 60||$60||$60||$60||$240|
|Mint state 65||$613||$204||$1,464||$613|
*by USA Coin Book
History of the 1882 Morgan Silver Dollar
The first American silver dollars appeared in 1794, but most collectors believe the Morgans were the best of all silver dollar designs ever minted in the US Mint. Their mintage lasted from 1878 to 1921, making them in circulation longer than other similar coins.
Interestingly, there was no need for the American economy to get a new silver dollar at the end of the 19th century. Most Americans hated the Liberty Seated dollar, but silver-mining interests needed silver coins in circulation. So, the decision to create a piece with the new design resulted from political pressure.
After forceful lobbying, Congress passed the Bland-Allison Act in 1878, requiring the Treasury to purchase 2 to 4 million troy ounces of silver bullion monthly. The goal was to collect enough silver to mint new silver dollars.
1882 Morgan silver dollar
|1882 No Mint mark silver dollar||Philadelphia||11,100,000|
|1882 proof silver dollar||Philadelphia||1,100|
|1882 CC silver dollar||Carson City||1,133,000|
|1882 O silver dollar||New Orleans||6,090,000|
|1882 S silver dollar||San Francisco||9,250,000|
George T. Morgan was a talented US Mint assistant engraver engaged in creating the new silver coin design. School teacher Anna W. Williams was his inspiration, and he made the coin after her face.
Critics named the new coin a Buzzard Dollar because of a scrawny eagle on the reverse. Plus, some experts insisted on seven instead of eight tail feathers depicted in the original design, resulting in three variations minted in the first minting year.
Most Americans consider the Morgan silver dollar unique, elegant, and likable. Plus, it is an excellent investment because of constant demand and stable value.
Features of the 1882 Morgan Silver Dollar
These silver coins are almost 150 years old. They are valuable regardless of their condition, but some highly-preserved pieces can be worth a fortune.
The obverse of the 1882 Morgan silver dollar
The beautiful Lady Liberty with the word LIBERTY on the ribbon is centrally positioned on the 1882 Morgan silver dollar obverse. The Latin motto, E PLURIBUS UNUM, is above her head, while you can notice the DATE along the bottom rim.
The reverse of the 1882 Morgan silver dollar
The rich reverse design includes a centrally positioned bald eagle with the motto IN GOD WE TRUST between its head and the UNITED STATES OF AMERICA. A laurel wreath and the denomination ONE DOLLAR are below the eagle’s talons, tightly clutching an olive branch and arrows.
1882 Morgan silver dollar
|Face value||One dollar ($1)|
|Compound||90% silver with copper|
|Coin thickness||0.09449 inches (2.4 mm)|
|Coin diameter||1.5 inches (38.1 mm)|
|Silver weight||0.77345 troy ounces (24.06 g)|
|Coin weight||0.85940 troy ounces (26.73 g)|
Other features of the 1882 Morgan silver dollar
The 1882 Morgan silver dollar is a 0.09449 inches (2.4 mm) thick silver coin with a diameter of 1.5 inches (38.1 mm). It weighs 0.85940 troy ounces (26.73 g), while the silver share of 90% weighs precisely 0.77345 troy ounces (24.06 g).
1882 Morgan Silver Dollar Value Guides
Four mints produced 27,574,100 Morgan silver dollars in 1882, including proofs and two remarkable error types, besides regular strikes.
1882 No Mint mark Morgan silver dollar
Typically, the Philadelphia mint had the highest Morgan silver dollars mintage, which was also the case this year. It produced 11,100,000 coins in 1882, but most pieces disappeared over time.
1882 Morgan silver dollar value
|Condition||1882||1882 S||1882 O||1882 CC|
|MS 65||$290 to $375||$180 to $216||$475 to $725||$498.75 to $595|
|MS 66||$975 to $1,300||$310 to $372||$2,600 to $5,000||$1,150 to $1,400|
|MS 67||$10,200 to $13,000||$1,100 to $1,210||$26,000 to $30,000||$6,000 to $7,800|
|MS 68||/||$3,600 to $6,500||$50,000 to $65,000||/|
Rare survived circulated coins cost $30 to $60, while those in the highest grades can bring up to $1,300 at auctions. Only specimens with an MS 67 rating reach the price of $10,000 to $13,000. One collector set aside $32,900 for a unique piece in an MS 67+ grade in 2015.
1882 Morgan silver dollar (proof)
Besides regularly struck Morgans, the Philadelphia mint produced 1,100 proof coins in 1882, and their price currently depends on the preservation level.
In most cases, it goes from $2,300 for the coin in a PR 60 grade to $60,000 for the one with a deep cameo contrast with a PR 68 rating. The most expensive is the 1882 PR 68 CAM Morgan silver dollar, sold in 2011 for $63,250.
1882 Morgan silver dollar (proof) value
|Condition||1882||1882 CAM||1882 DCAM|
|PR 60||$2,300 to $2,750||$2,530 to $3,035||/|
|PR 61||$2,500 to $2,900||$2,640 to $3,170||$3,200 to $4,000|
|PR 62||$2,600 to $3,200||$2,915 to $3,500||$3,500 to $4,200|
|PR 63||$3,000 to $3,600||$3,275 to $4,000||$4,300 to $5,150|
|PR 64||$3,600 to $4,300||$3,950 to $4,900||$6,750 to $8,000|
|PR 65||$5,650 to $5,800||$6,200 to $7,450||$9,000 to $10,800|
|PR 66||$6,700 to $7,500||$7,400 to $9,300||$11,500 to $15,000|
|PR 67||$12,000 to $14,500||$13,200 to $15,900||$19,000 to $27,000|
|PR 68||$19,800 to $30,000||$33,500 to $39,900||$50,000 to $60,000|
1882 O Morgan silver dollar
In 1882, the New Orleans mint produced 6,090,000 Morgan silver dollars, which are now worth approximately $30 to $60 in circulated condition. On the other hand, the difference between pieces in MS 60 and MS 68 grades is huge.
Slight quality deviations significantly affect coins’ value since their price range is $55 to $65,000 on the current coin market. The situation is even more complicated with PL and DMPL coins. While standard pieces in an MS 65 grade are worth about $200, beautiful proof-like rarities of the same rating can reach a few thousand dollars.
The most expensive Morgan minted in New Orleans this year is a piece in an MS 68+ grade. One collector paid an incredible $108,688 for it in 2015.
1882 S Morgan silver dollar
The San Francisco mint produced 9,250,000 Morgan silver dollars with the S mint mark in 1882. Thanks to the silver content, even pieces in the lowest grade are collectible and are worth $30. Those in the mint state are pricey, and the most preserved ones can reach $6,500.
The most appreciated are deep mirror proof-like coins. The highest-graded pieces are with an MS 66 rating, and their price is estimated at $9,000. The 1882 S MS 68+ Morgan silver dollar sold at an auction is the most expensive since one collector paid $27,025 for it in 2019.
1882 CC Morgan silver dollar
Most collectors consider Morgan silver dollars minted in Carlson City the rarest and most costly coins produced in 1882. The mintage of 1,133,000 pieces was low, and most haven’t survived by now.
Rare saved silver dollars are worth at least $110 in the lowest possible grade, while those with MS 67 ratings often cost $6,000 to $8,000. As expected, proof-like specimens quickly reach over $300 at auctions, but collectors are prepared to pay $11,500 to $18,000 for scarce pieces in an MS 67 grade.
Deep mirror proof-like Morgans are even more costly, and their prices go up to $27,000, depending on the preservation level. The most expensive coin produced in this mint in 1882 is the one in an MS 65 grade, paid $46,000 in 2001.
1882 Morgan Silver Dollar Errors
The most significant error from 1882 is the Morgan silver dollar with the O struck over the S mint mark. It is a result of dies initially designed for the mint in San Francisco and then altered for the New Orleans mint’s needs.
1882 Morgan silver dollar
|Condition||1882 O/S strong silver dollar||1882 O/S weak silver dollar|
|MS 60||$225 to $270||$200 to $225|
|MS 61||$250 to $300||$205 to $230|
|MS 62||$350 to $450||$225 to $250|
|MS 63||$500 to $550||$275 to $325|
|MS 64||$1,350 to $1,500||$600 to $700|
|MS 65||$45,000 to $55,000||$7,000 to $8,050|
You can recognize two variations. The strong one is tougher than other Morgans and scarce, while PL and DMPL pieces virtually don’t exist.
The weak re-punched variety includes weakly struck mint marks. It is a less desirable option, but this error rarity makes coins in this group collectible and expensive. However, you can expect a piece in an MS 64 grade to be twice as cheap as a strong strike coin.
The situation is even more dramatic with Morgans with an MS 65 rating. Those with a weak strike cost $7,000 to $8,000, but you need to set aside about $55,000 for the 1882 O/S Morgan strong silver dollar. The most pricey 1882 O/S strong MS 65+ Morgan silver dollar was the one sold for $84,000 in 2022.
FAQ about the 1882 Morgan Silver Dollar
What makes an 1882 Morgan silver dollar rare?
Like other Morgan silver dollars, those produced in 1882 are rare because of their age. Plus, those minted in Carlson City and proofs are particularly scarce, thanks to low mintage.
Which 1882 Morgan silver dollar is worth a lot of money?
- 1882 O MS 68+ Morgan silver dollar paid $108,688 (LRC Auctions, 2015)
- 1882 O/S Strong MS 65+ Morgan silver dollar paid $84,000 (Heritage Auctions, 2022)
- 1882 PR 68 CAM Morgan silver dollar paid $63,250 (Heritage Auctions, 2011)
- 1882 PR 67 Morgan silver dollar paid $51,750 (Stack’s, 2003)
- 1882 PR 68 DCAM Morgan silver dollar paid $51,700 (Heritage Auctions, 2017)
- 1882 CC MS 65 Morgan silver dollar paid $46,000 (Bowers&Merena, 2001)
- 1882 MS 67+ Morgan silver dollar paid $32,900 (Legend Rare Coin Auctions, 2015)
- 1882 CC MS 67 DMPL Morgan silver dollar paid $27,600 (Heritage Auctions, 2008)
- 1882 S MS 68+ Morgan silver dollar paid $27,025 (LRC Auctions, 2019)
- 1882 CC MS 67 PL Morgan silver dollar paid $22,800 (Heritage Auctions, 2020)
- 1882 S MS 66 DMPL Morgan silver dollar paid $12,650 (Heritage Auctions, 2008)
- 1882 O MS 66 PL Morgan silver dollar paid $10,925 (Heritage Auctions, 2011)
- 1882 O MS 65 DMPL Morgan silver dollar paid $9,200 (Heritage Auctions, 2008)
- 1882 S MS 67+ PL Morgan silver dollar paid $8,225 (Heritage Auctions, 2017)
- 1882 MS 65+ DMPL Morgan silver dollar paid $8,100 (Heritage Auctions, 2021)
- 1882 MS 66 PL Morgan silver dollar paid $4,025 (Heritage Auctions, 2005)
- 1882 O/S Strong MS 61 DMPL Morgan silver dollar paid $4,025 (Heritage Auctions, 2005)
- 1882 S MS 66+ GSA Hoard Morgan silver dollar paid $2,500 (eBay, 2021)
- 1882 O/S Strong MS 64 PL Morgan silver dollar paid $2,300 (Bowers&Merena, 2002)
How much is the 1882 No Mint mark Morgan silver dollar worth?
An average 1882 Morgan silver dollar minted in Philadelphia costs $30 to $60. However, the highest-graded specimens can reach $10,000 to $13,000.
What is the most pricey Morgan silver dollar?
Thanks to their age, you can expect Morgan silver dollars to be worth more than their face value. However, several beautiful, well-preserved pieces were paid over half a million dollars at auctions. The most expensive coins reached prices from $528,000 to $881,250.