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 represents a San Francisco Mint issue from 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. Coined at the San Francisco Mint, which transitioned from Gold Rush-era production to its modern role producing proof and collector issues. 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
1903-S VAM-9
Other Strike Types in This Series
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