1903 Morgan Dollar
Guidelines for Collecting:
The 1903 Morgan silver dollar has been described by some as the best of the series struck at the Philadelphia Mint during this era, in terms of overall quality. The mintage was well done and specimens possess nice striking quality with bright luster and a satiny sheen.
Availability in Circulated Grades:
Name your grade, EF or AU, and a specimen won’t be far away. As is true for other Morgan dollars that are common and inexpensive in lower Mint State grades, there is little numismatic demand for circulated coins.
Availability in Mint State Grades:
Uncirculated examples of the date are plentiful in today’s marketplace. There is no need to settle for Mint State-60 to 62 examples when higher grades are found with no difficulty. These are typically sharp and attractive but exceptions abound so choose carefully. No need to avoid a pleasing MS-65 coin, as these can be had with just a little patience and the cost is not significant.
Availability in Proof:
Proofs usually exhibit a medium to subpar strike with no cameo contrast due to polishing. While the Mint State pieces are often superb in appearance, you’ll need to dig deeply to find a Proof with even a modicum of cameo contrast and decent eye appeal. Be picky!
The example to the left was sold by Stack's Bowers Galleries in the August 2021 ANA Auction, where it realized $6,000.
1903 Morgan Dollar Auction Highlights
 NGC PF-68 CAM Sold for $31,200 View Lot 5059 |  NGC PF-67 Sold for $12,925 View Lot 3191 |  PCGS PR-66 Sold for $8,225 View Lot 12559 |
