This is the most valuable coin in the entire Morgan dollar series, so the condition is even more important regarding value than others. The differences in value between grades are larger. Not only larger, but immense.

The values quoted are for coins professionally graded by the leading company in this business, PCGS. I will explain why in a bit.

A coin in the very lowest grades approaches $1000, and a Good- 4 is $2,500. In mint state uncirculated grades, which are extremely rare, the values soar to $100,000+ at the low end of the 11-step scale, and an MS65 (in the middle) is worth more than half a million dollars. Common date Morgans in MS65 can be bought for less than $100.

The reason I quoted PCGS values is that, because this coin is so rare, counterfeits, and legitimate replica coins that scam artists are trying to pass off as the real thing, are all over the place. I would not buy this coin if it wasn't graded by PCGS or NGC. NGC values are similar but trend toward slightly lower.