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1888 Morgan Silver Dollar Value (Rare Errors, “O”, “S” and No Mint Mark)

1888 Morgan Silver Dollar Value (Rare Errors, “O”, “S” and No Mint Mark)

The US Mint produced stylish and highly popular Morgan silver dollars from 1878 to 1921. Since they contain 90% silver, you can expect even damaged and worn-out pieces to be worth at least the price of the precious metal they contain. Besides these extreme cases, the 1888 silver dollar value is significant, particularly if you have a coin in a high grade.

1888 Morgan silver dollar value

Condition 1888 No Mint mark silver dollar 1888 O

silver dollar

1888 S

silver dollar

Good $26 $26 $145
Very good $32 $32 $167
Fine $37 $37 $181
Very fine $44 $44 $203
Extra fine $46 $46 $210
AU $49 $49 $236
MS 60 $59 $59 $361
MS 65 $278 $662 $3,497
Proof 63 $3,219 / /

*by USA Coin Book

 

History of the 1888 Morgan Silver Dollar

Morgan silver dollars don’t resemble any other American coin type. Its elegant design and over four decades of minting history make these pieces highly collectible.

Interestingly, it appeared on the scene because of political pressure, not as a result of a real economic purpose and demand. The US Mint started its production five years after the Liberty Seated dollar was withdrawn from use, mostly thanks to the Representative of Missouri, Richard Bland.

1888 Morgan silver dollar

Year Location Minted
1888 No Mint mark silver dollar Philadelphia 19,183,000
1888 proof silver dollar Philadelphia 833
1888 O silver dollar New Orleans 12,150,000
1888 S silver dollar San Francisco 657,000
/ Total 31,990,833

Engraver George T. Morgan did an excellent job, and Americans were delighted with the new silver dollars. The US Mint produced Morgans from 1878 to 1921 when the Peace dollar was introduced to the public.

  

Features of the 1888 Morgan Silver Dollar

Even though the coin reverse was a target of criticism because of a skinny bald eagle, it is considered the most beautiful silver dollar in American coinage.

The obverse of the 1888 Morgan silver dollar

The obverse of the 1888 Morgan silver dollar

Image: wikipedia

This beautiful coin’s obverse shows a centrally positioned Lady Liberty surrounded by seven stars on the left and six on the right. The motto E*PLURIBUS*UNUM is placed along the top coin rim, while the bottom is reserved for the DATE.

The reverse of the 1888 Morgan silver dollar

The reverse of the 1888 Morgan silver dollar

Despite its excellent design, many Americans remember this buzzard dollar because of the skinny bird holding in its talons:

  • Three arrows
  • An olive branch

This coin side includes the denomination under the wreath and the UNITED STATES OF AMERICA above an inscription IN GOD WE TRUST. The mint mark is below the wreath, while the letter M is on the ribbon’s left loop, representing the designer’s initials.

1888 Morgan silver dollar

Shape Round
Face value One dollar ($1)
Compound Silver (90%) with copper (10%)
Coin thickness 0.09449 inches (2.4 mm)
Coin diameter 1.5 inches (38.1 mm)
Coin weight 0.85939 troy ounces (26.73 g)
Silver weight 0.77344 troy ounces (24.06 g)
Edge Reeded

Other features of the 1888 Morgan silver dollar

The 1882 Morgan silver dollar is a round one-dollar coin made of 90% silver and contains 0.77344 troy ounces (24.06 g) of this precious metal. The overall weight is 0.85939 troy ounces (26.73 g). Each piece has a standard diameter of 1.5 inches (38.1 mm) and is precisely 0.09449 inches (2.4 mm) thick.

 

1888 Morgan Silver Dollar Value Guides

Three mints produced 31,990,833 Morgans in 1888, including proof coins. Even though they are not particularly rare, they are always worth more than their face value, while some pieces in the highest grades can be insanely expensive.

1888 No Mint mark Morgan silver dollar

With 19,183,000 produced pieces, the Philadelphia mint had the highest Morgan silver dollar mintage in 1888. Most coins in circulated condition are worth $30 to $60 nowadays, but well-preserved ones are more pricey.

Regarding coins in the highest grades, details make a difference between a few hundred and tens of thousands of dollars. For instance, you can buy a specimen with MS 66 rating for approximately $500 to $600, while those in an MS 68 grade can reach $20,000 to $24,000 at auctions.

1888 Morgan silver dollar value

Condition 1888 silver dollar 1888 O silver dollar 1888 S silver dollar
AU $43 to $61 $43 to $62 $195 to $339.25
MS 60 $53 to $64 $60 to $72 $420 to $445
MS 61 $55 to $66 $62 to $74.40 $440 to $465
MS 62 $59 to $71 $66 to $79.20 $500 to $575
MS 63 $73 to $90 $90 to $108 $675 to $776.25
MS 64 $96 to $116 $118 to $141.60 $1,100 to $1,265
MS 65 $195 to $235 $275 to $400 $2,050 to $2,600
MS 66 $500 to $600 $1,300 to $1,475 $4,250 to $5,100
MS 67 $3,500 to $6,500 $12,500 to $15,000 $22,000 to $26,400
MS 68 $20,000 to $24,000 / /

*by Greysheet

1888 proof Morgan silver dollar

1888 proof Morgan silver dollar

Image: pcgs

The Philadelphia mint produced 833 proofs this year, and even those in a PR 50 grade can reach over $1,000. Collectors quickly grab those with PR 67 ranking for approximately $14,000 to $16,800 immediately after appearing on the market.

1888 Morgan silver dollar (proof) value

Condition 1888 silver dollar 1888 CAM silver dollar 1888 DCAM silver dollar
PR 50 $975 to $1,170 / /
PR 53 $1,000 to $1,200 / /
PR 55 $1,050 to $1,260 / /
PR 58 $1,280 to $1,536 / /
PR 60 $2,150 to $2,580 $2,365 to $2,838 /
PR 61 $2,350 to $2,820 $2,585 to $3,102 /
PR 62 $2,600 to $3,120 $2,860 to $3,432 /
PR 63 $2,975 to $3,570 $3,273 to $3,927 /
PR 64 $3,350 to $4,260 $4,105 to $5,100 /
PR 65 $4,800 to $5,500 $5,280 to $7,550 /
PR 66 $6,400 to $7,500 $7,040 to $10,000 $18,000
PR 67 $14,000 to $16,800 $25,000 to $30,000 $50,000 to $60,000

*by Greysheet

Precious pieces with cameo contrast are worth $25,000 to $30,000, while you should set aside $50,000 to $60,000 for high-graded ones with deep cameo contrast. The most costly proof coin struck in 1888 is the rare PR 67+ DCAM Morgan silver dollar bought at an auction in 2021 for a fantastic $90,000.

1888 O Morgan silver dollar

1888 O Morgan silver dollar

The New Orleans mint had the second high mintage in 1888, with 12,150,000 Morgan silver dollars produced. Despite that impressive number, you should set aside about $30 for a used coin.

1888 proof-like Morgan silver dollar value

Condition 1888 silver dollar 1888 O silver dollar 1888 S silver dollar
AU $50 to $72 $75 to $90 $325 to $390
MS 60 $90 to $108 $100 to $120 $450 to $540
MS 61 $95 to $114 $125 to $150 $475 to $570
MS 62 $100 to $120 $150 to $180 $550 to $660
MS 63 $135 to $150 $175 to $210 $800 to $960
MS 64 $176 to $211.20 $200 to $240 $2,000 to $2,400
MS 65 $440 to $528 $550 to $660 $3,000 to $3,600
MS 66 / $2,400 to $2,900 $12,000 to $14,400

*by Greysheet

Morgans with the O mint mark in uncirculated condition have a wide price range from $60 to $15,000, depending on the preservation level. The most expensive is the 1888 O MS 66+ DMPL Morgan silver dollar appeared at Legend Rare Coin Auctions in 2016. One collector paid an incredible $25,850 for this specimen.

1888 S Morgan silver dollar

1888 S Morgan silver dollar

The San Francisco mint produced 657,000 Morgan silver dollars with the S mint mark in 1888. Thanks to a low mintage, you can purchase one of these coins for $75 to $5,100, depending on the condition.

1888 deep mirror proof-like Morgan silver dollar value

Condition 1888 silver dollar 1888 O silver dollar 1888 S silver dollar
AU / / $390 to $468
MS 60 / / $540 to $648
MS 61 / $160 to $192 $570 to $684
MS 62 $175 to $210 $220 to $264 $660 to $792
MS 63 $225 to $270 $330 to $396 $1,000 to $1,200
MS 64 $400 to $480 $600 to $720 $3,300 to $3,960
MS 65 $1,750 to $2,100 $2,100 to $2,520 $11,500 to $13,800
MS 66 $8,000 to $9,600 $6,500 to $7,800 /

*by Greysheet

Only dedicated collectors with an unlimited budget can afford to buy high-graded coins since their prices are $22,000 to $26,400. The auction winner is the 1888 S MS 66+ Morgan silver dollar paid $31,200 at an auction.

 

1888 Morgan Silver Dollar Errors

You can recognize two 1888 O Morgan silver dollar errors favorite among collectors. Besides these two VAM coins, there is also a less-known Shooting Star variety also produced in New Orleans.

1888 Morgan silver dollar value

Condition 1888 O DDO hot lips silver dollar 1888 O scar face silver dollar
Good $68 to $93.60 /
Very good $90 to $120 /
Fine $105 to $132 /
Very fine $120 to $216 /
Extra fine $215 to $379.50 /
AU $620 to $2,000 $1,600 to $1,900
MS 60 $9,500 to $11,400 $2,000 to $2,300
MS 61 $14,000 to $16,800 $2,500 to $2,875
MS 62 $21,000 to $24,150 $3,100 to $3,565
MS 63 / $4,000 to $5,500
MS 64 / $10,000 to $11,500

*by Greysheet

Double Die Obverse (VAM-4 variety, Hot Lips)

This double die error with the O mint mark has slightly overlapped markings, particularly in Lady Liberty’s lips area. If you prefer collecting error coins, you can get this one in circulated condition for $225 to $350. On the other hand, you should count on the price of $9,000 to $24,000 for rare specimens in the mint state.

Die Crack (VAM-1B, Scar Face)

Rare Morgan silver dollars from New Orleans have a die crack across Lady Liberty’s face. You should set aside $1,600 to $11,500 for such a piece. Since this error results from an old die, you can’t find them among PL and DMPL Morgans.

 

FAQ about the 1888 Morgan Silver Dollar

What makes an 1888 Morgan silver dollar rare?

The most scarce Morgan silver dollars are VAM error coins in high grades. The most collectible and expensive are Hot Lips and Scar Face pieces.

Which 1888 Morgan silver dollar is worth a lot of money?

  • 1888 PR 67+ DCAM Morgan silver dollar bought for $90,000 at Heritage Auctions in 2021
  • 1888 S MS 66+ Morgan silver dollar bought for $31,200 at Heritage Auctions in 2019
  • 1888 PR 67 CAM Morgan silver dollar bought for $30,550 at Heritage Auctions in 2016
  • 1888 O MS 66+ DMPL Morgan silver dollar bought for $25,850 at Legend Rare Coin Auctions in 2016
  • 1888 O DDO MS 60 DMPL Morgan silver dollar bought for $25,300 at Heritage Auctions in 2008
  • 1888 S MS 66 PL Morgan silver dollar bought for $22,138 at Bowers & Merena in 2006
  • 1888 O MS 66 Morgan silver dollar bought for $20,563 at Legend Rare Coin Auctions in 2014
  • 1888 O DDO MS 61 Morgan silver dollar bought for $19,200 at Heritage Auctions in 2022
  • 1888 MS 67 Morgan silver dollar bought for $18,400 at Heritage Auctions in 2011
  • 1888 PR 67 Morgan silver dollar bought for $16,450 at Legend Rare Coin Auctions in 2021
  • 1888 S MS 66 DMPL Morgan silver dollar bought for $13,800 at Heritage Auctions in 2009
  • 1888 MS 67 DMPL Morgan silver dollar bought for $11,500 at Heritage Auctions in 2009
  • 1888 O MS 66+ PL Morgan silver dollar bought for $8,813 at Heritage Auctions in 2014
  • 1888 MS 66 PL Morgan silver dollar bought for $5,288 at Heritage Auctions in 2014
  • 1888 MS 63 GSA Hoard Morgan silver dollar bought for $337 on eBay in 2020

How much is the 1888 No Mint mark Morgan silver dollar worth?

While you can find Morgans in circulated condition for $30 to $60, well-preserved coins are worth $500 to $600. Only extraordinary pieces are expensive and can cost $20,000 to $24,000.

What is the most expensive Morgan silver dollar?

The 1893 Morgan silver dollar struck in the San Francisco mint is the most expensive in a series. One collector paid an incredible $550,000 for this piece in an auction. The second place went to the 1901 Morgan silver dollar without the mint mark sold for $425,500.