Do you have an 1892 silver quarter and are curious about how much it is worth? Morgan silver dollars are some of the most sought-after by collectors for their beauty, historical significance, and silver content.
If you are one of the lucky few with this coin in hand, you might be pleasantly surprised to learn that your 1892 silver dollar might be worth hundreds or thousands of dollars.
The low mintage that year and the high demand make the 1892 silver dollar worth adding to your collection.
Read on to find out the 1892 silver dollar value. You will also learn about the coin’s interesting history, features, and rare errors that might drastically increase its value.
1892 Silver Dollar Value Chart
|Mint mark||Good||Fine||Extremely Fine||Uncirculated|
|1892 No mint mark Silver Dollar Value||$42||$50||$70||$26,000|
|1892-S Silver Dollar Value||$55||$90||$185||$750,000|
|1892-O Silver Dollar Value||$42||$50||$80||$29,000|
|1892-CC Silver Dollar Value||$160||$265||$550||$90,000|
|1892 Proof Silver Dollar Value||–||–||–||$57500|
History of the 1892 Silver Dollar
Aptly known as the King of America’s Coins, the Morgan silver dollar is large, heavy, and beautiful, making it a collector’s favorite.
The Mint struck this dollar coin in 90 percent silver and named it after designer and sculptor George T. Morgan. The Morgan dollars were first struck in 1878, and production continued until 1904, later resuming in 1921.
The production of the Morgan silver dollar was problematic from the get-go. When the Mint Act of 1873 halted the production of the silver Liberty Seated silver dollars to make way for gold and trade dollars, influential silver mine owners were angry.
They lobbied hard for five years for the reintroduction of silver dollars until finally, through the Bland-Alison Act of 1878, Congress authorized the production of a new silver dollar, later known as the Morgan silver dollar. The Act authorized Treasury to buy a certain amount of silver and produce at least 2 million silver coins per year.
After the famous Comstock Lode that uncovered millions of tons of silver in Carson City, Nevada, the Mint over-produced silver coins. By 1892 the vaults were overflowing with large and heavy silver dollars. About this time, the United States economy was quickly slipping into a depression that would then come to a head in 1893.
Toward 1893, Congress repealed the Sherman Act, ending the purchase of silver metal for coin production.
The year 1892 was, therefore, a transitional year and held historical significance in the coin-collecting world. This would be the last year before Congress permanently stopped using silver to produce dollar coins. It was also the year before the country plunged into one of the most historical economic depressions ever experienced.
About 6.3 million Morgan dollars were struck in 1892 across four mint facilities in Philadelphia, Carson City, New Orleans, and San Francisco.
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Features of the 1892 Silver Dollar
We’ll now look at the physical attributes of the 1982 silver dollar. Knowing what to look for in your coin can help you identify a rare 1892 silver dollar worth good money.
The Obverse of the 1892 Silver Dollar
The beautiful Morgan silver dollar was named after its designer, George T. Morgan. In 1876, United States Mint Director, Henry Linderman, held a competition between long-time mint engravers Charles Barber and George T. Morgan, a new and much younger engraver from England who came to the U.S. after the Philadelphia mint recruited him as a special engraver.
Linderman ultimately chose Morgan’s design which featured Lady Liberty modelled by the school teacher Anna Williams. Morgan used the designs on the 1877 half dollar and expanded it for the larger silver dollar in 1878.
The obverse features a left-facing Lady Liberty wearing a cap over her flowing hair and a flower garland with the word LIBERTY inscribed.
The motto, E PLURIBUS UNUM, is engraved around the top edge of the coin, while the date, 1892, appears at the bottom. Seven stars are etched on the left side, while six are etched on the right encircling Lady Liberty. The thirteen stars represent the initial thirteen states of America.
The Reverse of the 1892 Silver Dollar
The reverse (tails) of the silver dollar from 1892 shows a left-facing American eagle with wings spread out. In one talon, the eagle holds three arrows representing readiness to defend the union, while on the right talon is an olive branch, representing peace.
The eagle was the center of controversy at some point. Generally, the bird had always been depicted as having an uneven number of tail fathers but Morgan’s eagle had eight. The U.S. Mint changed the eagle’s tail feathers from eight to seven to appease the public.
Underneath the eagle is an olive laurel signifying peace. The motto IN GOD WE TRUST appears at the top of the eagle’s head.
The words UNITED STATES OF AMERICA are etched around the top edge of the coin, while the denomination ONE DOLLAR appears at the bottom edge of the coin.
Other Features of the 1892 Silver Dollar
The 1892 silver dollar comprises 90 percent silver and 10 percent copper.
Like all Morgan silver dollars, this one is weighty, scoring a whopping 26.73 grams and measuring 38.10 millimetres.
Turn the coin to its edge, and you will notice small ridges, meaning the dollar coin has a reeded edge.
The 1892 Morgan dollar was minted in Philadelphia, Carson City, New Orleans, and San Francisco. Coins from all mints except Philadelphia have a mintmark on the reverse right underneath the olive branch laurel.
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1982 Silver Dollar Guides
This section will answer the question: Is an 1892 silver dollar worth money? Morgan dollars attract a lot of interest from collectors due to their beauty, historical significance, aesthetic appeal, and silver metal content.
There are five varieties of the 1982 silver dollar. These are:
- 1892 No-mintmark silver dollar
- 1892- CC Silver Dollar
- 1892-O Silver Dollar
- 1892-S Silver Dollar
- 1892 Proof Silver Dollar
Let’s look at each coin type and find out its value.
1892 No-Mint mark Silver Dollar Value
An estimated 1,036,000 silver dollars were minted in 1892 at the Philadelphia coin presses. This notably low mintage makes the 1892-P silver dollar quite rare, especially in mint state condition.
Most of these coins were issued immediately after circulation, so there are quite some examples with a nice luster and brilliant lines. In lower grades, the coins tend to be poorly struck, with many featuring dull surfaces, flat struck centers, and bag marks.
Mint state grade Morgan dollars from 1892 are generally available, especially in lower grades such as MS60 to MS63; the number of examples keeps reducing as you go higher the grading ladder.
The 1892-P is worth many times more than face value. At grade Good (G), you can pick up a decent coin at $55 and an even better one at about $400 at the Extremely Fine (EF) grade.
In circulated condition, an 1892-No mintmark silver dollar is worth between $45 and $17,500. According to the Professional Coin Grading Service (PCGS), the finest example of an 1892-P Morgan dollar is graded MS6 and fetched $49,938 in 2018.
1892-CC Silver Dollar Value
The Carson City mint struck about 1,352,000 silver dollars in 1892. Historically 1892-CC Morgans were not considered rare, given that most were distributed into circulation as soon as they were struck.
Most 1882-CC dollars in mint state are available in lower grades, with the coin becoming more elusive in higher grades and will therefore fetch good money.
Compared to those struck in Philadelphia, 1892 silver dollars minted in Carson Strike have a much better strike with superior frosty luster. Uncirculated examples generally start to grade from MS62 to MS63.
In circulated condition, an 1892-CC will fetch about $160 when graded Good, $550 in Extremely Fine (EF) condition, and up to $1,050 in About Uncirculated (AU) condition.
A coin graded MS61 could get you up to $1,800, while one in MS65 costs about $11,000. In higher grades, an uncirculated 1892-CC silver dollar fetches as much as $90,000.
The finest example of an 1892-CC Morgan silver dollar was graded MS67 and, in 2015, sold for a whopping $135,125.
If you have an uncirculated 1892-CC silver dollar, you should definitely have it graded by a professional coin grader; it might be worth a lot of money.
1892-0 Silver Dollar Value
The New Orleans coin presses struck about 2,744,000 silver dollars in 1892.
In circulated condition, this coin variety has always been readily available as large quantities were released immediately after minting.
Mint state grades are also easily available in MS62 to MS63, but that number starts to fall off at MS65, with the 1892-O becoming extremely rare in higher grades.
Circulated examples are worth between $42 and $200, while an uncirculated one will cost as much as $29,0000. The finest example was graded MS67, in 2014, which sold for $111,625.
1892-S Silver Dollar Value
About 1,200,000 Morgan silver dollars were struck at the San Francisco minting facility in 1892. Most of these coins were released into circulation almost immediately after minting, with very few held in mint uncirculated state.
Lower grade 1892-S Morgans are common, but this coin is extremely rare in higher mint states. As such, there is a huge disparity in value between circulated and uncirculated silver dollars on this date.
In circulated condition, an 1892-S silver dollar graded Good (G) is worth $55, while AU-58, the same coin, may fetch up to $17,5000.
According to PCGS records, the finest known example is graded MS68, which was auctioned for $630,000 in 2020.
1892 Proof Silver Dollar Value
The Philadelphia coin presses struck a total of 1,245 proof coins in 1892. The rarity of these proof coins, especially those graded as cameo and deep cameo, enables them to fetch premium prices well into the seven figures.
About eighty examples of Proof (PR) 64 exist, while only three PR68 examples are known to exist as of 2023. The finest known examples graded PR68 were sold at auction for $36,425.
One or two examples of PR67 Cameo 1892 silver dollars and four PR68 exist. The finest example, graded PR68 sold for $48,875 in 2006.
Deep Cameo examples are extremely rare and fetch a premium. The most expensive example, graded PR68, was auctioned for $57,500 in 2011.
1892 Silver Dollar Errors
The following are common errors observed in 1892 silver dollars. Errors are unusual occurrences that may change the normal appearance of a coin and, in turn, increase its value.
1892 Silver Dollar Double Strike Error
Double strike errors are very popular as they drastically change the coin’s appearance. In fact, some of the highest coins have a double-struck error.
This error occurs when a blank planchet or coin is struck two times. The die would typically strike the coin correctly the first time, but the subsequent strike would be off-center or on-center.
Don’t let the word “double” fool you—a coin can be struck numerous times and still qualify as having d a double strike error.
An example of an 1892 silver dollar double strike error can fetch $100 or more.
1892 Silver Dollar Mis-aligned Obverse Die Error
A misaligned die error happens when the striking die is not correctly aligned with the anvil die. The result is that the design looks offset on one side, in this case, the obverse side (the reverse looks normal).
The good example is an 1892-CC silver dollar in which the Lady Liberty portrait is stuck slightly higher up the coin so that the flower garland interacts with the words E PLURIBUS ENUM around the coin’s top edge.
Here are some common questions collectors have about the 1892 silver dollar.
Is the 1892 silver dollar rare?
The 1892 silver dollar is rare in higher grades in both circulated and uncirculated conditions. Lower grade silver dollars from this date are quite common but become rarer in higher grades and are extremely rare in gem quality.
Are 1892 Morgan dollars worth a lot of money?
Morgan dollars from 1892 can be worth a lot of money depending on the coin’s condition. Coins in this date in the mint state can be worth anything in the five figures and above.