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The 1881-S Morgan dollar is a very common coin in all grades through MS67 and is one of the few Morgan dollars that can be found with relative ease even in MS68. A tiny handful of MS69s exist but are priced well beyond reach of the typical Morgan collector and are the territory of a few competitive registry set collectors who regularly lay out any amount necessary to claim the top-grading set. PLs and DMPLs are readily available up to about MS65, though higher-grading specimens become challenging and are extremely rare in the vicinity of MS67 or higher.
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: Among Morgan silver dollars minted in the nineteenth century, the 1881-S is the most available in Mint State. It is likely that at least half the original mintage remains in grades from MS-60 onward, which equals 6,000,000 or more coins. This is far and away the most available Mint State Morgan dollar of the 1878 through 1904 early year span. If you desire a single coin for a type set to illustrate the 1878 through 1921 Morgan dollar design, the 1881-S is an ideal candidate.
Surface Quality: Usually very sharply struck on all points, remarkable in view of the huge mintage figure of 12,760,000. In general, the San Francisco Mint earned high marks for quality, while the New Orleans Mint deserved a booby prize. Typically with satiny luster, often slightly prooflike.
Prooflike Coins: Many are from prooflike dies, often prooflike on just one side, such as having a frosty and lustrous obverse and a DMPL reverse—such coins being in limbo or Never-Never Land from the viewpoint of certification, as one number fits all.22
Mintage and Distribution: Of all San Francisco Mint Morgan dollars in the early range of the series, 1878 to 1904, the 1881-S has the highest mintage. Many were released in the nineteenth century, probably others were melted under the Pittman Act of 1918, but probably most remained stored in the San Francisco Mint. Many bags were released in 1938; tens of thousands were paid out in 1961, and millions more in the 1962 through 1964 Treasury release.
VARIETIES:
To facilitate the large coinage, 85 obverse dies and a like number of reverse dies were combined, with more than 50 being listed by Van Allen and Mallis. None are of widespread interest, but there are enough repunchings and doubled mintmarks to make this date an interesting subspecialty.
Catalog Information
GSID:
7486
Designer:
George T. Morgan
Obverse Designer:
George T. Morgan
Obverse Lettering:
E PLURIBUS UNUM, LIBERTY, 1881
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:
1881-S
Denomination:
$1
Designation:
MS
Mint Location:
San Francisco
Mint Mark:
S
Mintage:
12,760,000
Coinage Type:
Morgan silver dollar
Coinage Years:
1878-1921
Composition:
90% silver; 10% copper
PCGS #:
7130
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Coin Value History
1881-S $1 MS
Value By Grade
1881-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) |
|---|---|---|---|
| MS69 |
|
$96,000 | $1,234 |
| MS69 | - | $66,000 | $1,234 |
| MS68 |
|
$1,234 | $1,234 |
| MS68 | - | $1,234 | $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]
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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]
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Worth: $70 – $50,000
Morgan $1 Carson City Mint, GSA Hoard Hard package MS [Type]
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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
1881-S $1 MS66+ NGC. CDN: $265 Whsle. Bid for NGC/PCGS MS66. Mintage 12,760,000....
$354
1881-S $1 MS65 PCGS. CDN: $139 Whsle. Bid for NGC/PCGS MS65. Mintage 12,760,000....
$177
1881-S $1 MS67 NGC. CDN: $700 Whsle. Bid for NGC/PCGS MS67. Mintage 12,760,000. ...
$671
1881-S $1 MS64 NGC. CDN: $92.50 Whsle. Bid for NGC/PCGS MS64. Mintage 12,760,000. ...
$134
1881-S $1 Morgan Dollar -- Struck 5% Off Center -- MS62 PCGS. ...
$4,270
1881-S $1 MS68+ PCGS. CAC. ...
$14,640
1881-S $1 MS63 PCGS. CDN: $72.99 Whsle. Bid for NGC/PCGS MS63. Mintage 12,760,000. ...
$94
1881-S $1 Morgan Dollar, Uncertified. Ex: Redfield Collection. Housed in a red Mint State 65 Paramount holder....
$276
1881-S $1 MS69 NGC....
$51,600
1881-S $1 MS61 PCGS. Mintage 12,760,000. ...
$104
1881-S $1 VAM-78 AU58 ANACS. Mintage 12,760,000....
$53
1881-S $1 VAM-1A1.1 Almost Uncirculated NGC. Mintage 12,760,000....
$124
1881-S $1 PCGS UNC Detail (Questionable Color)
$100
1881-S $1 ANACS VF25 Details (Cleaned)
$34
1881-S $1 NGC AU55
$42
37 Variously Dated and Graded Morgan Dollars in PCGS, including: (2)1881-S AG3; (2)1883 Fair 2; (2)1883-O Fair 2; (2)1883-O AG... (Total: 37 coins)
$999
1881-S $1 AG3 PCGS. PCGS Population (8/224287). NGC Census: (0/214654). Mintage: 12,760,000. Numismedia Wsl. Price for prob...
$29
1881-S $1 --Cleaned, Obverse Lamination--ANACS. XF45 Details. NGC Census: (1/158515). PCGS Population (6/178543). Mintage: 1...
$16
1881-S $1 MS66 PCGS. CAC. CAC: 2278 in 66, 1477 finer (1/26). CDN: $265 Whsle. Bid for NGC/PCGS MS66. Mintage 12,760,000....
$390
1881-S $1 MS65 PCGS. CDN: $139 Whsle. Bid for NGC/PCGS MS65. Mintage 12,760,000. ...
$171
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