How Much Is A 1904-O Morgan Dollar Worth?
Values for the 1904-O Morgan run from about $30–$42 (Circulated) to $180–$260 (MS-65). Here is what separates the bottom of that range from the top — and how to find out where your coin lands.
History of the 1904-O Morgan Dollar
The 1904-O is the great cautionary tale about rarity. Into the early 1960s it was a celebrated key date worth hundreds of dollars in uncirculated condition — then in 1962 the Treasury began releasing sealed bags of them by the millions from long-forgotten vaults, and the price collapsed overnight.
Today the 1904-O is one of the most common Morgans in mint state, a favorite type coin with soft New Orleans strikes and abundant bag luster. Its story is a permanent reminder that hoards can rewrite the price sheet.
The 1904-O Morgan was struck in 1904 in 90% silver. Each coin weighs 26.73 grams. Production took place at New Orleans (O), with 3,720,000 struck.
How much is a 1904-O Morgan worth?
Like every collectible coin, the value of a 1904-O Morgan comes down to grade, rarity and demand. The ranges below are approximate retail prices collectors pay for problem-free examples — coins that have been cleaned, scratched or holed usually trade well below these figures.
Printed price guides age quickly. The most honest benchmark is what comparable coins actually sold for. AI Coin Collector gives you a starting point: the Numista catalogue price per grade, from VG to UNC, whenever it identifies a coin.
- Circulated: $30–$42
- MS-63: $70–$95
- MS-65: $180–$260
How to identify a genuine 1904-O Morgan Dollar
Before you get excited about a potential find, confirm that the coin in your hand matches the genuine article. Work through this checklist:
When a coin fails any of these checks, treat it with suspicion. Modern counterfeits can be convincing at arm's length, but weight, dimensions and die details rarely lie.
- New Orleans strikes are characteristically soft on the eagle’s breast and hair above the ear — that is normal, not wear.
- The O mint mark sits below the wreath bow.
- Prooflike examples exist and carry modest premiums.
Check your 1904-O Morgan with AI Coin Collector
The fastest way to find out what you have is to photograph the coin with AI Coin Collector. Our own AI vision model suggests what it is (you check and adjust the suggestion), the app estimates a grade on the Sheldon 1–70 scale, and shows the Numista catalogue price per grade.
From there you can add the coin to a collection, see the collection’s total value and export it to CSV. The app is free to start and comes to Android first.
Frequently asked questions
How much is a 1904-O Morgan worth?
Broadly, examples at the bottom of the market (Circulated) trade around $30–$42, while the strongest pieces (MS-65) bring $180–$260. Grade, rarity and eye appeal decide where a specific coin lands, and problem-free coins always bring the best prices.
How can I tell if my 1904-O Morgan is genuine?
Start with the physical basics: new Orleans strikes are characteristically soft on the eagle’s breast and hair above the ear — that is normal, not wear. Counterfeits usually fail on weight, dimensions or fine die details, so compare your coin against verified reference photos before paying a premium.
Can an app identify and value my 1904-O Morgan?
Yes. AI Coin Collector suggests an identification from a single photo using our own AI vision model — you check and adjust it — estimates a Sheldon grade from 1 to 70, and shows the Numista catalogue price per grade.