1903 Morgan Dollar

About This Coin

The 1903 Morgan Dollar is a United States dollar from the Morgan Dollars 1878-1921 series — a late issue, 26th of 28 years in the series. In 1903, coins were struck at the San Francisco, Philadelphia, and New Orleans Mints with a combined mintage of 11.6 million. This ranks 6th of 28 years by total mintage, below the series median of 28.0 million. The obverse features Liberty facing left wearing a Phrygian cap adorned with wheat and cotton, encircled by stars and the reverse displays an eagle with outstretched wings clutching an olive branch and arrows, surrounded by a wreath. The 1903-O was unknown in quantity until a Treasury vault release made thousands available, dramatically changing the coin's market status. Weighing 26.73 grams, 38.1 mm in diameter, with a reeded edge. Collectors have cataloged 74 known die varieties for this date. Produced 8 years after the celebrated 1895 key date. Across its variants, estimated values range from $99 to $15K depending on mint mark, grade, and strike type. A notable auction result reached $37K in PR68 grade at Superior Galleries. Designed by George T. Morgan.