1904 Proof 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
$51,700 PR67CA 08-02-2017 Heritage Auctions
Description
The 1904 Proof Morgan Dollar is a proof dollar struck at the Philadelphia Mint, part of the Morgan Dollars 1878-1921 series. With a mintage of 650, this is an extremely rare issue — the lowest mintage among 4 mint variants, representing only less than 1% 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 last year of the original Morgan Dollar run before the series was briefly revived in 1921. As a proof issue, this coin was struck multiple times on specially prepared polished planchets using polished dies, producing mirror-like fields and frosted design elements prized by collectors. Struck at the original U.S. Mint facility, in continuous operation since 1792. Estimated market value is approximately $4.7K. Struck in 90% silver, 10% copper, weighing 26.73 grams, 38.1 mm in diameter, with a reeded edge. Cataloged as PCGS #87339.
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