The Morgan Silver Dollar is one of the most iconic coins in American numismatics. Minted between 1878 and 1904, and again in 1921, it represents a golden era of U.S. coinage. Among these, the 1900 Morgan Silver Dollar stands out as a fascinating collectible. While most examples are worth modest amounts, certain rare varieties and hoards have captured the imagination of collectors, with values reaching into the millions. In 2026, the legendary treasure associated with Morgan Dollars continues to turn heads, with stories of hidden caches and rare varieties fueling excitement.
The History of the Morgan Silver Dollar
Named after its designer, George T. Morgan, the coin features Lady Liberty on the obverse and a majestic eagle on the reverse. It was struck in large numbers during the late 19th century, reflecting America’s abundance of silver from western mines. The 1900 issue was produced at several mints, including Philadelphia, New Orleans, and San Francisco. Each mint mark adds to the coin’s story and potential value.
Why the 1900 Morgan Silver Dollar Is Special
Several factors make the 1900 Morgan Silver Dollar particularly interesting to collectors:
- Historical significance tied to the turn of the century.
- Minting errors and varieties that increase rarity.
- Hoards discovered in bank vaults and Treasury releases.
- Condition, with uncirculated examples commanding premium prices.
Rare Varieties of the 1900 Morgan Silver Dollar
1. 1900‑O Over CC Variety
This famous variety shows remnants of the Carson City mint mark beneath the New Orleans “O.” Estimated Value: $500 to $10,000 depending on grade. Identification Tip: Look closely at the mint mark for traces of “CC.”
2. 1900‑S Morgan Dollar
San Francisco issues are scarcer and more valuable in high grades. Estimated Value: $200 to $5,000. Identification Tip: Check for the “S” mint mark below the wreath.
3. 1900 Proof Morgan Dollar
Proof issues were struck in limited numbers for collectors. Estimated Value: $3,000 to $20,000. Identification Tip: Proof coins have mirror‑like surfaces and sharp details.
4. 1900‑O Mint State Dollar
High‑grade uncirculated examples from New Orleans can be valuable. Estimated Value: $100 to $1,500. Identification Tip: Seek coins with sharp details and no wear.
5. 1900 Philadelphia Issue
Although common, pristine examples in high grades can fetch premium prices. Estimated Value: $50 to $500. Identification Tip: Philadelphia issues lack a mint mark.
The Legendary $500M Morgan Dollar Treasure
Stories of massive hoards of Morgan Dollars have fascinated collectors for decades. In the 1960s, the U.S. Treasury released millions of silver dollars that had been stored in vaults for decades. Among them were rare Carson City issues and pristine examples worth far more than face value. The total value of these hoards has been estimated at hundreds of millions of dollars, with some coins individually selling for six figures. In 2026, the legend of the $500M treasure continues to inspire collectors, reminding them that hidden fortunes may still exist.
Chart: 1900 Morgan Silver Dollar Varieties and Their Values
| Morgan Silver Dollar | Year | Variety/Error | Estimated Value Range |
|---|---|---|---|
| Morgan Dollar | 1900 | O Over CC Variety | $500 – $10,000 |
| Morgan Dollar | 1900 | San Francisco Issue | $200 – $5,000 |
| Morgan Dollar | 1900 | Proof Issue | $3,000 – $20,000 |
| Morgan Dollar | 1900 | New Orleans Mint State | $100 – $1,500 |
| Morgan Dollar | 1900 | Philadelphia Issue | $50 – $500 |
How Collectors Identify Rare Morgan Dollars
Collectors often rely on magnification tools, reference books, and professional grading services to confirm authenticity. Key steps include:
- Checking mint marks carefully, especially for overmintmark varieties.
- Looking for proof finishes or doubled details.
- Comparing coins against verified images from trusted numismatic sources.
- Submitting rare finds to grading services like PCGS or NGC for certification.
Preserving the Value of Morgan Silver Dollars
Condition is critical in coin collecting. Even rare varieties lose value if damaged. To preserve coins:
- Store them in protective holders.
- Avoid cleaning, which can reduce value.
- Keep them in a stable environment free from humidity.
Key Highlights
- The Morgan Silver Dollar was minted from 1878 to 1904 and again in 1921.
- The 1900 issue includes rare varieties such as the O Over CC and proof coins.
- Values range from modest amounts to tens of thousands of dollars.
- The legendary $500M treasure of Morgan Dollars continues to inspire collectors.
- Proper identification and preservation are essential for maximizing worth.
Final Words
The 1900 Morgan Silver Dollar is more than just a coin; it is a symbol of America’s rich history and enduring fascination with silver. In 2026, collectors continue to hunt for rare varieties and dream of hidden hoards worth millions. From the O Over CC variety to proof issues, these coins remind us that treasures can be found in unexpected places. For numismatists, the Morgan Dollar remains one of the most exciting areas of coin collecting, offering both historical significance and the potential for extraordinary value.
