Morgan dollars (1878 to 1921) and Peace dollars (1921 to 1935) are 90% silver and hold 0.7734 troy ounces of pure silver (26.73 g × 90%). The American Silver Eagle, struck every year since 1986, contains one troy ounce of .999 silver. Eisenhower dollars with silver were sold only to collectors (see the table below). The silver price today is $52.55 per troy ounce.
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| Coin | Silver | Melt now |
|---|---|---|
| Morgan Dollar1878–1921 | 90% | $40.64 |
| Peace Dollar1921–1935 | 90% | $40.64 |
| American Silver Eagle1986 to date | .999 | $52.55 |
Morgan and Peace: 26.73 g × 90%. Eagle: one troy ounce. The silver in each, times the silver price, gives the melt. The copper in the Morgan and Peace alloy is not counted. Each weight and composition is quoted from the laws named under Specifications.
ASW is actual silver weight. For the Morgan dollar, 26.73 g × 90% = 24.057 g of silver, or 0.7734 troy ounces at 31.1035 g each. The copper is not counted.
Sources: Act of January 18, 1837, sections 8 and 9 (5 Stat. 136) (standard of nine hundred parts pure metal in one thousand; silver dollar 412.5 grains); Act of February 28, 1878, "Bland-Allison" (20 Stat. 25) (silver dollars of 412.5 grains Troy of standard silver, as provided in the 1837 Act); Pittman Act of April 23, 1918, section 2 (40 Stat. 535) (silver bought to replace melted dollars is coined into standard silver dollars); Liberty Coin Act, Public Law 99-61, section 202(e) (99 Stat. 115-116) (silver bullion coin: 40.6 mm, 31.103 g, .999 fine silver, reeded edge). Mintages for silver dollars come from the series data on each date page.
| Amount | 90% silver | .999 silver |
|---|---|---|
| 1 coin | $40.64 | $52.55 |
| 10 coins | $406.44 | $525.49 |
| $20 face value, one roll of 20 | $812.88 | $1,050.98 |
| 100 coins | $4,064.41 | $5,254.90 |
Melt of the silver at today's price. Morgan and Peace dollars usually sell for more than melt; shops that buy them as bullion pay a share of it, about 80% to 95% (a Lustre editorial estimate, not a quote). Use the junk silver calculator for mixed coins.
A Morgan or Peace dollar holds 24.057 g of silver and an American Silver Eagle holds a full troy ounce. What shops pay for silver coins
| Date | Lower grade | Higher grade |
|---|---|---|
| 1893-SMorgan · Major rarity | $8,000–$8,500 | $335,000–$450,000 |
| 1895Morgan · Major rarity | $75,000–$85,000 | $90,000–$100,000 |
| 1889-CCMorgan · Major rarity | $1,900–$2,250 | $43,000–$50,000 |
| 1892-SMorgan · Key date | $185–$200 | $85,000–$120,000 |
| 1895-OMorgan · Key date | $385–$500 | $51,500–$65,000 |
| 1893-OMorgan · Key date | $600 | $12,000–$12,500 |
| 1903-SMorgan · Key date | $190–$260 | $7,750–$12,000 |
| 1893-CCMorgan · Key date | $1,000–$1,150 | $7,000–$10,500 |
| 1921Peace · Key date | $215–$250 | $1,100 |
| 1996Silver Eagle · Scarce in Mint State | $57–$61 | $57–$63 |
Prices from the PCGS and NGC price guides, checked October 29, 2026. Grade is wear. VF-20 is a worn dollar with clear lettering, MS-63 never circulated, PR is a proof. The prices are guide values for graded dollars, not offers. “No guide price” means the guides list none. Minted is the number struck.
| Date | Lower grade | Higher grade |
|---|---|---|
| 1986Silver Eagle · Semi-key · Lustre estimate | $80–$100 | $110–$150 |
| 1994Silver Eagle · Semi-key · Lustre estimate | $80–$95 | $100–$130 |
Rows marked Lustre estimate are Lustre editorial estimates, October 2026, not guide prices. These are not offers. The dollars below carry a premium over silver; most Morgan and Peace dates sell nearer to melt.
| Coin | Silver | Melt now |
|---|---|---|
| Eisenhower dollars, 1971-S to 1974-S and 1976-SSold in collector sets (uncirculated and proof). The Eisenhower dollars found in change are clad. | 40% silver | $16.62 |
These dollars were sold in Mint sets and are not found in circulation. Our series data does not list them, so no mintage counts are given. Weights and silver shares are U.S. Mint specifications (U.S. Mint coin specifications and product pages). Most sell for more than their silver.
Morgan dollars (Liberty head, eagle) and Peace dollars (radiate Liberty, perched eagle) are 90% silver in every year.
A Morgan or Peace dollar weighs 26.73 g. A Silver Eagle weighs about 31.1 g.
Carson City (CC) Morgans carry a premium in every grade. Look for the mint mark on the reverse, below the wreath.
On a dollar, the design and the weight settle the question. See how to tell if a coin is silver for the weight, sound and magnet checks and their limits.
Morgan Dollar1878 to 1921 · 96 issues 
Peace Dollar1921 to 1935 · 24 issues 
American Silver Eagle1986 to date · 40 issues listed to 2024 Junk silver calculatorSilver coin melt by type and yearCoin melt calculatorSilver dollar melt valueHow to tell if a coin is silverJunk silver explained
Silver quarter valueSilver dime valueSilver half dollar valueSilver price today
Dollars that are silver are worth at least the value of their silver. A 90% silver dollar (Morgan and Peace, 1878 to 1935) holds 0.7734 troy ounces of pure silver; a .999 silver dollar (Silver Eagle, 1986 to date) holds 1.0000 troy ounces of pure silver. Multiply that by the silver price at the top of this page. Dates and conditions that collectors want are worth more; the key dates table shows examples.
90% silver dollars hold 0.7734 troy ounces of silver (24.057 grams), from a coin weighing 26.73 grams. .999 silver dollars hold 1.0000 troy ounces of silver (31.103 grams), from a coin weighing 31.103 grams. The copper in the alloy is not counted.
Morgan (1878 to 1921) and Peace (1921 to 1935) dollars are 90% silver. American Silver Eagles (1986 on) contain one troy ounce of .999 silver. Eisenhower dollars found in change are clad; the 40% silver Eisenhower dollars (1971-S to 1974-S and 1976-S) were sold only in collector sets.
Less than melt value for most buyers. Shops that take Morgans, Peace dollars and Silver Eagles as bullion pay a share of the silver value, usually more for Eagles because they are .999 and easy to resell. The figure on this page is an estimate, not a quote. The quarters page shows what shops pay for silver coins and why.
Common dates in worn condition sell close to their silver value. Key dates, low-mintage years and coins in high Mint State grades sell for more. For example, the 1893-S Morgan Dollar: VF-20 $8,000–$8,500, MS-63 $335,000–$450,000. Those figures come from our series data (PCGS and NGC price guides) and are not offers.
Sources: Morgan dollar (Wikipedia; mintage, composition, weight, diameter, edge, designer); Morgan dollar mintage (Landofcoins.com; mintage by year and mint); Peace dollar (Wikipedia; mintage, composition, weight, diameter, edge, designer); Peace dollar mintage (Landofcoins.com; mintage by year and mint); American Silver Eagle (Wikipedia; composition, weight, diameter, edge, designers, mint history); American Silver Eagle mintage figures (Wikipedia; bullion mintage by year); American Silver Eagle mintages (SilverEagleGuide.com; cross-check of bullion mintage by year). Silver price: gold-api.com. Grade values are described above. Estimates are dated October 2026 and are not offers.
Morgan1878–1921 · 90% silver
Peace1921–1935 · 90% silver
Silver Eagle1986 to date · .999 silver