Silver dollars have long been a favorite among coin collectors and investors, with some commanding staggering prices due to their rarity, historical significance, and condition. Whether you’re a seasoned numismatist or just starting, knowing which silver dollars hold the most value can help you make informed collecting decisions. Below, we highlight 10 of the most valuable silver dollars in U.S. history, based on auction records and collector demand.
1. 1794 Flowing Hair Silver Dollar – The First U.S. Silver Dollar
The 1794 Flowing Hair Silver Dollar is believed to be the first silver dollar ever minted by the U.S. government. With an estimated mintage of just 1,758 coins, it is incredibly rare. In 2013, a specimen sold for over $10 million, making it the most expensive silver dollar ever sold.
2. 1804 Draped Bust Silver Dollar – The “King of American Coins”
Although dated 1804, these coins were actually struck decades later for diplomatic gifts. Only 15 known examples exist today, divided into Class I, II, and III varieties. A Class I 1804 Draped Bust Silver Dollar fetched $7.68 million at auction in 2021.
3. 1885 Trade Dollar – An Ultra-Rare Proof Issue
The 1885 Trade Dollar was never officially released for circulation, with only five known proof specimens. One of these sold for $3.9 million in 2019, making it one of the most coveted silver dollars among collectors.
4. 1893-S Morgan Silver Dollar – The Rarest Morgan Dollar
With a low mintage of 100,000 coins, the 1893-S Morgan Dollar is the rarest in the series, especially in high grades. An MS-67 example sold for $2 million at auction.
5. 1795 Draped Bust Silver Dollar – A Historic Classic
The 1795 Draped Bust Dollar is one of the earliest U.S. silver dollars, featuring the classic Draped Bust design. High-grade examples can sell for over $1.5 million.
6. 1901 Morgan Silver Dollar – Scarce in High Grades
The 1901 Morgan Dollar, while not the lowest mintage, is extremely rare in Mint State condition due to poor striking quality. An MS-66 specimen once sold for over $800,000.
7. 1921 Zerbe Proof Morgan Dollar – Special Issue for a Collector
These special proof-like Morgan Dollars were made for collector Farran Zerbe, with only a handful surviving today. Prices have exceeded $150,000 for top-quality pieces.
8. 1870-S Seated Liberty Silver Dollar – A Legendary Rarity
With only around 10 known examples, the 1870-S Seated Liberty Dollar is one of the most mysterious coins in U.S. history. A specimen once sold for over $1 million.
9. 1895 Morgan Silver Dollar – The “King of Morgans”
No circulation-strike 1895 Morgan Dollars are known to exist, only proofs. With just 880 proofs minted, high-grade examples command prices of $100,000 or more.
10. 1928 Peace Silver Dollar – The Key Date of the Series
The 1928 Peace Dollar, struck in Philadelphia, had a low mintage of 360,649 coins, making it the rarest regular-issue coin in the series. High-grade examples can sell for $40,000 or more.
Conclusion
Silver dollars hold a special place in American numismatic history, and the most valuable specimens continue to fetch millions at auctions. Whether you are interested in collecting Morgans, Peace Dollars, or early Draped Bust Dollars, knowing the rarest and most sought-after pieces can help you build a valuable collection.
FAQs
1. Why is the 1804 Draped Bust Silver Dollar so valuable?
The 1804 Draped Bust Dollar was struck as a diplomatic gift in the 1830s, and only 15 examples exist, making it one of the most famous rarities in U.S. numismatics.
2. What is the rarest Morgan Silver Dollar?
The 1893-S Morgan Dollar is the rarest and most valuable of the series due to its low mintage of 100,000 coins and high collector demand.
3. How can I determine if my silver dollar is valuable?
Factors such as mintage, rarity, condition (grade), and demand determine a silver dollar’s value. Third-party grading services like PCGS and NGC can authenticate and grade your coin.