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This is a common date through Gem levels and is known as high as at least MS68, though at that lofty level they are quite rare. Overall, the 1878-S has always been regarded as one of the more widely available pieces and has been sold in bag quantities through into at least the mid 1960s. PLs and DMPLs are understandably scarcer but are frequently encountered through MS65 levels with a few rare pieces touching as high as MS68.
Obverse Description
Portrait of Liberty centered. On the left are found 7 stars with the words E*PLURIBUS*UNUM followed by 6 stars on the right. The date is positioned at the bottom.
Reverse Description
The heraldic eagle is centered holding a bunch of arrows and branch surrounded by and olive leaves. The words UNITED STATES OF AMERICA * ONE DOLLAR frame the periphery. Mint mark, if any, appears above the letters DO of DOLLAR.
Book Reference
Key to Collecting: The 1878-S dollar is plentiful in Mint State, with the typical example being MS-62 to MS-64 and with decent luster, more satiny than deeply frosty. The 1878-S comes only with the Reverse of 1878 (flat eagle’s breast, seven tail feathers, parallel top arrow feather).
Surface Quality: Usually fairly well struck; however, some pieces show planchet striations on the face of Liberty and show some weakness at the lower part of the eagle and below. All are of the 7 Tail Feathers, Reverse of 1878 variety (flat eagle’s breast, parallel top arrow feather); and at first glance the reverse may appear to be weakly struck. However, upon close examination most have well-defined feathers. Usually lustrous and very attractive, satiny or frosty (but not deeply frosty), is the rule.
Prooflike Coins: Some are struck from highly prooflike dies, many on just one side, although these are but a tiny fraction of the existing population.
Mintage and Distribution: Early coinage of the 1878-S dollars was not easy, for of the 10 pairs of dies sent from Philadelphia to the San Francisco Mint on April 8, three obverses and eight reverses were considered by the coiner to be unfit for use. I believe that 5,000,000 to 6,000,000 of these, and most of the original mintages of 1879-S, 1880-S, 1881-S, and 1882-S, were stored at the San Francisco Mint. Large quantities of these were released in subsequent years, mostly after 1913, and extensively in the 1950’s, many going to Las Vegas, some held by banks and casinos as “cash reserves” with a secret appreciation potential.
VARIETIES:
Dozens of die pairs, all of the Reverse of 1878 (PAF) style, were on hand at the San Francisco Mint by early summer, but it is not known how many were actually used that year, although the figures were at least 43 obverses and 38 reverses. Some reverses were kept and employed in 1879. The VAM text describes many varieties of minor doubling. Both Walter Breen and The Top 100 Morgan Dollar Varieties take note of the so-called Long Nock or Long Arrow Shaft variety, for which the left tip of the arrow is slightly longer than normal. Remarkably, virtually all known pieces show wear, this despite the use of at least five die pairs in the coinage.
Catalog Information
GSID:
7448
Designer:
George T. Morgan
Obverse Designer:
George T. Morgan
Obverse Lettering:
E PLURIBUS UNUM, LIBERTY, 1878
Reverse Designer:
George T. Morgan
Reverse Lettering:
UNITED STATES OF AMERICA, IN GOD WE TRUST, ONE DOLLAR
Fineness:
0.9
Weight (gr):
26.73 gr
Weight (oz):
0.8594 oz
Precious Metal Weight:
0.7734 oz
Strike Type:
Business
Diameter:
38.1
Coin Shape:
Round
Edge:
Reeded
Coin Date:
1878-S
Denomination:
$1
Designation:
MS
Mint Location:
San Francisco
Mint Mark:
S
Mintage:
9,774,000
Coinage Type:
Morgan silver dollar
Coinage Years:
1878-1921
Composition:
90% silver; 10% copper
PCGS #:
7082
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Coin Value History
1878-S $1 MS
Value By Grade
1878-S $1 MS
CPG (retail) values
Currency
Grade Range
Grading Authority
Sort by
Pricing
Values
Greysheet & CPG® Values
| Grade | CAC | CPG Value (Retail) | Greysheet Price (Wholesale) |
|---|---|---|---|
| MS68 |
|
$50,500 | $1,234 |
| MS68 | - | $42,000 | $1,234 |
| MS67 |
|
$1,234 | $1,234 |
| MS67 | - | $1,234 | $1,234 |
| MS66 |
|
$1,234 | $1,234 |
| MS66 | - | $1,234 | $1,234 |
| MS65 |
|
$1,234 | $1,234 |
| MS65 | - | $1,234 | $1,234 |
| MS64 |
|
$1,234 | $1,234 |
| MS64 | - | $1,234 | $1,234 |
| MS63 |
|
$1,234 | $1,234 |
| MS63 | - | $1,234 | $1,234 |
| MS62 |
|
$1,234 | $1,234 |
| MS62 | - | $1,234 | $1,234 |
| MS61 |
|
$1,234 | $1,234 |
| MS61 | - | $1,234 | $1,234 |
| MS60 |
|
$1,234 | $1,234 |
| MS60 | - | $1,234 | $1,234 |
| AU58 |
|
$1,234 | $1,234 |
| AU58 | - | $1,234 | $1,234 |
| AU55 |
|
$1,234 | $1,234 |
| AU55 | - | $1,234 | $1,234 |
| AU53 |
|
$1,234 | $1,234 |
| AU53 | - | $1,234 | $1,234 |
| AU50 |
|
$1,234 | $1,234 |
| AU50 | - | $1,234 | $1,234 |
| XF45 |
|
$1,234 | $1,234 |
| XF45 | - | $1,234 | $1,234 |
| XF40 |
|
$1,234 | $1,234 |
| XF40 | - | $1,234 | $1,234 |
| VF35 |
|
$1,234 | $1,234 |
| VF35 | - | $1,234 | $1,234 |
| VF30 |
|
$1,234 | $1,234 |
| VF30 | - | $1,234 | $1,234 |
| VF25 |
|
$1,234 | $1,234 |
| VF25 | - | $1,234 | $1,234 |
| VF20 |
|
$1,234 | $1,234 |
| VF20 | - | $1,234 | $1,234 |
| F15 |
|
$1,234 | $1,234 |
| F15 | - | $1,234 | $1,234 |
| F12 |
|
$1,234 | $1,234 |
| F12 | - | $1,234 | $1,234 |
| VG10 |
|
$1,234 | $1,234 |
| VG10 | - | $1,234 | $1,234 |
| VG8 |
|
$1,234 | $1,234 |
| VG8 | - | $1,234 | $1,234 |
| G6 |
|
$1,234 | $1,234 |
| G6 | - | $1,234 | $1,234 |
| G4 |
|
$1,234 | $1,234 |
| G4 | - | $1,234 | $1,234 |
| AG3 |
|
$1,234 | $1,234 |
| AG3 | - | $1,234 | $1,234 |
Morgan $1 Pre-1921 MS [Type]
![Morgan $1 Pre-1921 MS [Type]](https://images.greysheet.com/ProductImages/DLRC/194xxx/a15b3867-56c4-4feb-9ccd-68ae7da30226.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $41 – $80,000
Morgan $1 Pre-1921 MS PL [Type]
![Morgan $1 Pre-1921 MS PL [Type]](https://images.greysheet.com/ctc/catalog/90o-pl-obv.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $50 – $7,800
Morgan $1 Pre-1921 MS DMPL [Type]
![Morgan $1 Pre-1921 MS DMPL [Type]](https://images.greysheet.com/ctc/catalog/84cc-dmpl-obv.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $75 – $42,000
Morgan $1 Carson City Mint MS [Type]
![Morgan $1 Carson City Mint MS [Type]](https://images.greysheet.com/ProductImages/DLRC/416xxx/e90065e0-537f-4db8-b2b8-efacd6817cff.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $70 – $50,000
Morgan $1 Carson City Mint, GSA Hoard Hard package MS [Type]
![Morgan $1 Carson City Mint, GSA Hoard Hard package MS [Type]](https://images.greysheet.com/Ctc/CatalogEntry/ha_com_1314_4280-3.20200626010427369.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $270 – $5,400
1878 8TF $1 MS
Worth: $40 – $102,000
1878 8TF $1 MS PL
Worth: $200 – $4,400
1878 8TF $1 MS DMPL
Worth: $575 – $27,000
1878 7TF $1 Reverse of 1878 MS
Worth: $41 – $3,200
1878 7TF $1 Reverse of 1878 MS PL
Worth: $72 – $6,600
1878 7TF $1 Reverse of 1878 MS DMPL
Worth: $240 – $42,000
1878 7/8TF $1 Strong MS
Worth: $45 – $26,400
1878 7/8TF $1 Strong MS PL
Worth: $200 – $9,900
1878 7/8TF $1 Strong MS DMPL
Worth: $425 – $30,000
1878 7/8TF $1 Weak MS
Worth: $41 – $3,200
1878-S $1 MS64 PCGS. CDN: $160 Whsle. Bid for NGC/PCGS MS64. Mintage 9,774,000. ...
$201
1878-S $1 MS62 PCGS. CDN: $85 Whsle. Bid for NGC/PCGS MS62. Mintage 9,774,000....
$119
1878-S $1 Paramount MS63 NGC. Ex: Redfield Collection. CDN: $120 Whsle. Bid for NGC/PCGS MS63. Mintage 9,774,000....
$183
1878-S $1 MS65 PCGS. CDN: $300 Whsle. Bid for NGC/PCGS MS65. Mintage 9,774,000. ...
$378
1878-S $1 MS66 PCGS. CDN: $650 Whsle. Bid for NGC/PCGS MS66. Mintage 9,774,000. ...
$1,190
1878-S $1 MS67 NGC. ...
$6,832
1878-S $1 MS61 CACG. Mintage 9,774,000. ...
$114
1878-S $1 MS60 ANACS. Ex: The Oregon Collection. Mintage 9,774,000....
$79
1878-S $1 Doubled RIB, VAM-22, XF45 PCGS. A Hot 50 Variety. PCGS Population: (10/50). NGC Census: (0/0). CDN: $225 Whsle. B...
$124
1878-S $1 Long Arrow Shaft, VAM-58, VF35 PCGS. A Top 100 Variety. PCGS Population: (9/16)....
$432
1878-S $1 VAM 22, Doubled Rib, AU55 PCGS. A Hot 50 Variety. PCGS Population: (9/25)....
$204
1878-S $1 Long Arrow Shaft, VAM-59, XF40 PCGS. A Top 100 Variety. PCGS Population: (8/12 and 0/0+)....
$552
1878-S $1 Long Arrow Shaft, VAM-60, Fine 15 PCGS....
$1,050
1878-S $1 Acid Treated Reverse, VAM-84, AU53 CACG. Mintage 9,774,000....
$64
1878-S $1 Engraved Wing Feather, VAM-121, -- Obverse Damaged -- CACG Details. AU. Mintage 9,774,000....
$74
1878-S $1 Long Arrow Shaft, VAM-72, VF20 PCGS. A Top 100 Variety. PCGS Population: (2/13)....
$2,040
1878-S $1 Long Arrow Shaft, VAM-62, VG10 PCGS. A Top 100 Variety. PCGS Population: (4/30)....
$288
1878-S $1 AU58 CACG. Mintage 9,774,000. ...
$76
1878-S $1 Long Arrow Shaft, VAM-27, Fine 12 PCGS. Top 100. PCGS Population: (9/141). NGC Census: (0/0). CDN: $75 Whsle. Bid...
$159
1878-S $1 Doubled RIB, VAM-77, VF25 PCGS. A Hot 50 Variety. PCGS Population: (6/7). NGC Census: (0/0). VF25. Mintage 9,774,...
$408
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