The two coins at a glance
| Morgan dollar | Peace dollar | |
|---|---|---|
| Years | 1878–1904, and 1921 | 1921–1935, with a gap |
| Front | Liberty in a cap with leaves | Liberty with rays around her head |
| Back | Eagle with spread wings | Eagle resting on a rock |
| Metal and weight | 90% silver, 26.73 grams when new, about 0.7734 troy ounce of silver | |
| Mintmark | On the back, below the wreath, above the “DO” of DOLLAR | On the back, near the lower left of the eagle’s tail |
| Mint letters | None = Philadelphia · S = San Francisco · O = New Orleans · CC = Carson City · D = Denver (1921 only) | None = Philadelphia · D = Denver · S = San Francisco |
Silver value: multiply 0.7734 by today’s silver price per troy ounce. That is the metal in the coin. It is a reference point, not the collector price and not a guaranteed resale offer.
Before you buy: eight checks
- Is it this exact coin? You should see both sides of the one coin you will receive, in focus. A stock photo or a group photo cannot show its surfaces.
- Do the date and mintmark match the description? Read them from the photos, not the title. Never guess the mint from the seller’s city.
- Raw or certified? Raw means outside a grading holder, not fake or damaged. For a certified coin, look up the holder number with the grading service.
- What do the surfaces show? Go over the face, the open fields, the eagle, then the rim. Note scratches, dents, dark spots, holes and mount marks.
- Has it been cleaned? A bright coin is not proof of an unworn one. Fine parallel lines, an even unnatural shine, or dirt left only in the protected spots are reasons to look closer.
- Does the weight make sense? A new coin weighed 26.73 grams and wear takes a little off. A large unexplained difference is a reason to stop. A matching weight does not prove a coin is genuine.
- What did similar coins sell for? Compare completed sales of the same year, mint and condition, raw with raw and certified with certified. The highest price you can find is usually for a different coin.
- What is the total, and what are the terms? Add shipping and tax. Read the return rules before you pay.
The one-sentence test
“I believe this is a (year and mint) (Morgan or Peace) dollar, (raw or certified), with (main condition notes), and the total will be .”
If you cannot fill in the first three blanks from what the seller shows you, ask for another photo or keep looking.
Once it is yours
- Do not clean it. Cleaning damages the original surface and lowers what collectors will pay.
- Hold it by the edge, over something soft.
- Do not scratch, file or acid-test a collectible coin.
- Keep the listing photos and description with the coin.
The reasoning behind each check, with photographs, is in the three guides this page is drawn from: Morgan versus Peace dollars, the 1923 Peace dollar, and how to buy a raw Peace dollar.