Discovering the Value of 1878 Morgan Dollar Coin

The 1878 Morgan Dollar Coin is a highly sought-after collectible, and for good reason. It's one of the first years the coin was minted, making it a rare and valuable find.

The coin's value lies in its rarity, with only 9,163 coins minted in Philadelphia and 1,000 in New Orleans. This scarcity contributes to the coin's high value.

The 1878 Morgan Dollar Coin is also notable for its unique design, featuring a depiction of Lady Liberty on the obverse and a bald eagle on the reverse. This design has become iconic and highly prized among collectors.

The coin's metal composition is 90% silver and 10% copper, which affects its value and durability.

For your interest: What Is a Minted Coin

The 1878 Morgan silver dollar coin has a rich history and design that's worth exploring. The coin's design was a result of a design competition between Morgan and Charles Barber, with Linderman ultimately choosing Morgan's design depicting the profile of an American woman.

Morgan's design was based on local teacher Anna Willess Williams, who had been his model for an 1877 pattern half dollar. He was impressed with her profile and described it as the most perfect he had seen in America.

The 1878 Morgan silver dollar coin was minted with a composition of .900 silver and .100 copper, with a diameter of 38.1 mm and a weight of 0.77344 oz. pure silver. The coin's edge is reeded, and it was minted at various mints, including Philadelphia, New Orleans, Carson City, Denver, and San Francisco.

Here are the specifications of the 1878 Morgan silver dollar coin:

Morgan's design was a significant departure from the traditional Greek-style figures that were commonly used in coin designs at the time. He wanted to depict a real American woman on the new silver coinage, and his choice of Anna Willess Williams as a model was a deliberate attempt to create a more authentic and American design.

The 1878 Morgan Silver Dollar is a highly sought-after coin among collectors.

Its mintage was relatively low, with only 9,163,000 coins produced.

This coin features George T. Morgan's iconic design, which has become a hallmark of American currency.

Morgan's portrait of Lady Liberty is a striking representation of elegance and freedom.

The coin's reverse side displays an eagle in flight, symbolizing strength and freedom.

The 1878 Morgan Silver Dollar is 26.5 mm in diameter and weighs 26.73 grams.

The obverse of the 1878 Silver Dollar features a unique design based on an American model, rather than the traditional Grecian lady.

Anna Willess Williams, a philosopher and teacher, posed for the coin's designer, George Morgan, on five occasions.

She had agreed to remain anonymous, but her identity was soon leaked, making her famous overnight and resulting in thousands of letters and visits.

The coin shows Williams in profile, wearing a headband inscribed with the word "LIBERTY".

The Latin motto "E PLURIBUS UNUM" arches above the image, while the date is at the bottom.

Stars representing the states form a border at the sides of the coin.

The reverse of the 1878 Silver Dollar features an eagle with outstretched wings, holding a fletch of arrows in one talon and a sprig of olive in the other. A wreath frames the lower two thirds of the image.

One notable variation is the number of tail feathers the eagle has. The first 750,000 coins struck at the Philadelphia Mint show eight tail feathers, while later coins show seven.

The words "In God we trust" are written in Gothic script, placed just above the eagle's head.

The country name arches above the words, following the line of the upper coin edge.

Related reading: How Much Silver Is in a Morgan Dollar

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The 7 Over 8 is a notable feature on the 1878 Silver Dollar. It's characterized by a strong variant of the 7 over 8 tail feather reverse, where the central tail feathers of the original design are clearly visible.

You can find graded 3 coins for around $40, but extremely fine (XF45) examples will set you back around $100.

Mint state coins range from $260 for a coin graded MS60 to $40,000 for two coins certified as MS66+.

If you're looking for a guide to help you determine the value of your 1878 Morgan silver dollar coin, there's a great resource to check out: "1878 Silver Dollar Value Guides".

The value of your coin can vary greatly, so it's essential to have a reliable guide to follow. You can find more information on the most valuable Morgan silver dollars in circulation by reading "Top 10 Most Valuable Morgan Silver Dollar Worth Money".

To get an accurate estimate, you'll need to consider the coin's condition, rarity, and demand. A well-preserved coin with a high demand can fetch a higher price.

The "1878 Silver Dollar Value Guides" can provide you with a comprehensive list of prices based on the coin's condition. This will help you make an informed decision when selling or trading your coin.

A rare 1878 Morgan silver dollar can be worth thousands of dollars, making it a valuable addition to any collection.

For your interest: What Makes a Morgan Silver Dollar Valuable

The condition of a 1878 Morgan Silver Dollar is crucial in determining its price. A coin in poor condition will be worth less than one in excellent condition.

The type of coin also plays a significant role in pricing. There are multiple types of Morgan Silver Dollars produced every year, and the scarcity associated with the coin's specific type affects the asking price.

The chart below gives you a better idea of what you might be asked to pay for a Morgan Silver Dollar given its condition and type.

The price of a Morgan Silver Dollar largely depends on its type and condition. The type of coin, such as 8 Feathers, 7 Feathers, CC, or S, plays a significant role in determining its value.

The condition of the coin is also crucial, with collectors willing to pay more for coins in better condition. In fact, the price difference between a circulated and uncirculated coin can be substantial.

The rarity of the coin's type affects its price. For example, the 8 Feathers type is more valuable than the 7 Feathers type, with prices ranging from $80 to $105 for uncirculated coins.

Here's a breakdown of the prices for different types of 1878 Morgan Dollars in various conditions:

A coin's return on investment depends on its condition and authenticity. The PCGS values an 1878 silver dollar graded 1 with the 1879 reverse at $55.

The value of an individual coin can greatly vary based on its condition, with coins graded 1 having a premium. For example, an 1878 silver dollar graded 1 with the 1878 reverse is worth around $45.

Coins graded 1 carry a premium, and mint state coins are worth more than circulated ones. A coin graded MS60 is worth more than one graded 15.

Mint state coins can be designated as prooflike or deep mirror prooflike, reflecting the quality of the strike. Prooflike coins are more valuable than standard mint state examples.

A mint state coin graded MS65 is worth over $800, and a prooflike coin at the same grade is worth $2,850.

A unique perspective: West Point Mint Facility

The 1878 Morgan silver dollar is a highly sought-after coin, and one of the rarest varieties is the 1878 Doubled Die, which features a doubled image of Lady Liberty on the obverse side.

In 1878, the Philadelphia Mint produced a large number of Morgan silver dollars, but some of these coins feature errors that make them highly valuable.

The 1878 Morgan silver dollar with a die crack, which is a small crack in the die that creates a visible line on the coin, can be worth significantly more than a circulated coin.

These rare and error coins are highly prized by collectors, and their value can be substantial.

The Rare Error List is a treasure trove for collectors, but it can also be a minefield of misinformation. One rare error coin is the 1943 Lincoln cent with a copper plug.

The 1943 Lincoln cent with a copper plug is a rare error coin because it was made with a copper plug instead of steel, which was the standard material used at the time.

This error occurred because the government had switched to steel production due to wartime metal shortages, but some copper planchets were mistakenly used. The copper plug is a valuable feature for collectors.

Worth a look: Rare Coin Values Chart

The 1955 Doubled Die Lincoln cent is another rare error coin that's highly sought after. It features a doubled image of Lincoln's profile.

The 1955 Doubled Die Lincoln cent is rare because it was caused by a misaligned die during the minting process. This error resulted in a doubled image of Lincoln's profile.

The 1804 Draped Bust dollar is one of the rarest and most valuable coins in the world. It's a rare error coin because it was mistakenly dated as 1804 when it was actually minted in 1834.

The 1804 Draped Bust dollar is highly valuable due to its rarity and historical significance.

Here's an interesting read: What Coins with No Mint Mark Are Valuable

The "CC" mint mark is a prized feature among coin collectors, especially for the 1878 CC Silver Dollar. These coins are highly sought after due to the logistical challenges faced by the Carson City Mint facility, resulting in fewer coins with this mark.

Only 1,635 of these coins are estimated to survive today, making them extremely rare. A coin graded MS67 is worth $72,500, while the finest examples are considered to be graded MS67.

For more insights, see: 1881 Cc Morgan Silver Dollar Value

The value of your 1878 Morgan Silver Dollar coin can be significantly impacted by its certification and proof status.

A coin graded PR58 can start at $1,600, while a PR67+ coin is valued at $67,500.

Certification from reputable organizations like the PCGS can also affect the coin's value, with some coins valued in the tens of thousands of dollars.

The finest cameo coin is graded MS66+ and valued at $90,000.

A coin's grade is a crucial factor in determining its value, and for collectors, it's essential to understand the different grades. Uncirculated coins, for instance, are those that have spent very little time in circulation and have all their imagery and inscriptions perfectly preserved.

The most difficult task for collectors is finding a piece that has remained in decent condition through its 100+ year history. Even the most well-preserved pieces are seldom easy to find.

Extremely Fine coins, on the other hand, have been circulated but not for extended periods of time. These coins will show some light surface wear but still appear to be in pristine condition.

A coin's grade can significantly impact its value. For example, an Extremely Fine 1878 Morgan Dollar (8 Feathers) can be purchased for $80, while an Uncirculated one can cost $105.

Here's a breakdown of the different coin grades and their characteristics:

For collectors, finding a coin in Uncirculated condition is no simple task. However, Extremely Fine coins can often be acquired for a lesser price, making them a more accessible option for many collectors.

Proof coins are highly sought after by collectors due to their exceptional quality and rarity.

The 1878 proof silver dollar, for example, was struck in small numbers at the Philadelphia Mint facility and features three different variants.

500 of the earliest proofs depicted the eagle with eight tail feathers and included some cameos, which have an attractive contrast between glossy fields and frosting on the raised parts of the design.

Standard proofs with eight tail feathers start at $1,600 at PR58, while the finest survivor is a single coin graded PR67+, valued at $67,500.

Eight-feather cameos range from $3,250 at PR60 to $90,000 at PR67, and one coin at PR67+ is valued by the PCGS at $120,000.

The 1879 reverse proofs start at $22,500 for a coin graded PR60, and quality tops out at PR64, with the two coins certified at that level each valued at $165,000.