1903 (S) Morgan Dollar
Strike Type
Coin Details
Value Estimates
Values as of May 2026 — estimates reflect typical grades (G-4 through MS-63). Coins in lower or exceptional grades may fall outside this range.
Auction Record
$31,200 MS65PL 01-14-2024 Heritage Auctions
Description
The 1903 (S) Morgan Dollar is a dollar produced at the San Francisco Mint as part of the Morgan Dollars 1878-1921 series. With a mintage of 1.2 million, this is a scarce issue — the lowest mintage among 4 mint variants, representing only 11% of total production. 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. Struck at the San Francisco Mint, established during the California Gold Rush and now primarily producing proof and collector coins. Estimated market value ranges from $243 to $15K depending on grade and condition. Struck in 90% silver, 10% copper, weighing 26.73 grams, 38.1 mm in diameter, with a reeded edge. Cataloged as PCGS #7289.
External References
Error Varieties(10)
1903-S VAM-1
1903-S VAM-1A
1903-S VAM-2
1903-S VAM-3
1903-S VAM-4
1903-S VAM-5
1903-S VAM-6
1903-S VAM-7
1903-S VAM-8
