1894 Morgan Dollar
Guidelines for Collecting:
With its relatively low circulation strike mintage, the 1894 dollar has always been popular with collectors. The coin is among the rarest of all Morgan issues to be found in nearly all grades. Striking quality is usually above average in sharpness. Well-struck Proofs sometimes have white and creamy—rather than deep and flashy—luster.
Availability in Circulated Grades:
The 1894 Morgan is a scarce date in any and all grades from AG-3 right up to choice AU-58. A hand-selected problem-free AU would be an ideal coin for a circulated Morgan set; many advanced sets have an AU in place of a Mint State coin.
Availability in Mint State Grades:
The true key date among Philadelphia Mint Morgan dollars, this date can be found in most Mint State grades from MS-60 to MS-64, though finding one presents a nominal challenge—you won’t find dozens of them at a major coin show, for instance, but rather you’ll be fortunate to find one nice example. We like MS-64 for the date, especially a sharp and lustrous specimen; at MS-65 the price is affordable to only a few buyers.
Availability in Proof:
Easily found in Proof format, with most of the surviving specimens affording good cameo contrast and a bold strike. Many collectors appreciate a Proof of the date for their collection because of the high price tag on Mint State coins. Be picky!
The example to the left was sold by Stack's Bowers Galleries in the June 2020 Showcase Auction, where it realized $26,400.
1894 Morgan Dollar Auction Highlights
 PCGS MS-65, CAC Sold for $33,465 View Lot 3701 |  PCGS MS-65 Sold for $26,400 View Lot 6363 |  PCGS PR-67+, CAC Sold for $24,000 View Lot 1488 |
