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Boasting only a slightly higher mintage figure than the 1893-S, the 1894 has the second lowest mintage of all circulation strikes in the series. While perhaps not quite as popular as the 1893-CC or 1893-S Morgans, this piece is no less sought by series enthusiasts. It is especially rare in grades higher than MS64, with small numbers in MS65 and only a handful known in MS66 or better. PLs and DMPLs are exceedingly rare, with none known in the Gem grades. Be careful when buying raw examples that the piece under consideration is not an 1894-O or 1894-S with a removed mintmark.
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 1894 is the first true key date in the Philadelphia Mint lineup of Morgan dollars. This year the mintage dropped to just 110,000, or less than a third of 1893, itself a low figure, indeed the smallest circulation-strike figure in the series except for the 1893-S. Examples are elusive in all grades, from well-worn on up. Mint State coins are mostly in lower ranges, through MS-62, then falling o" in availability through MS-63, more so for MS-64, and emerging as a rarity in MS-65. Proofs are readily available, and an amazing number are gems. A nice Proof furnishes an alternative for an impossible-to-find, or nearly impossible, gem Mint State coin. Circulated examples are rare as well.
Surface Quality: Usually above average in striking sharpness. Proofs are usually well struck and very attractive, sometimes white and “creamy,” rather than deeply lustrous and flashy.
Prooflike Coins: A few prooflike coins exist, including a handful of DMPLs, and are rare and desirable in high grades.
Mintage and Distribution: Delivery figures by month: January–July, 0; August, 48,000; September, 12,000; October, 50,000; November–December, 0. Few 1894 dollars were released in the late nineteenth and early twentieth centuries. Several bags were paid out in the 1950’s and early 1960’s. A bag of dollars turned up in Montana circa 1961, but by that time the price of the 1894 had risen, and this quantity did not disturb the structure. In the early 1960’s a bag of mixed 1893 and 1894 dollars surfaced in San Francisco. The 1894 does not seem to have been part of the 1962 through 1964 Treasury release, save for a few scattered coins.
PROOF STRIKES:
Mintage: 972. Delivery figures by month: January–February, 0; March, 252; April– May, 0; June, 179; July–August, 0; September, 200; October–November, 0; December, 341.
Key to Collecting: Usually well struck. Good cameo contrast. These offer a good value.
VARIETIES:
Although seven obverse and five reverse dies were made up for this coinage, it is not certain that all were used. Only two die combinations are described by VAM. Beware 1894-O dollars with tooled-away mintmarks posing as rarer 1894 Philadelphia issues.
Catalog Information
GSID:
7578
Designer:
George T. Morgan
Obverse Designer:
George T. Morgan
Obverse Lettering:
E PLURIBUS UNUM, LIBERTY, 1894
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:
1894
Denomination:
$1
Designation:
MS
Mint Location:
Philadelphia
Mintage:
110,000
Coinage Type:
Morgan silver dollar
Coinage Years:
1878-1921
Composition:
90% silver; 10% copper
PCGS #:
7228
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Coin Value History
1894 $1 MS
Value By Grade
1894 $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) |
|---|---|---|---|
| MS67 |
|
$270,000 | $1,234 |
| MS67 | - | $210,000 | $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 |
| AG2 |
|
$1,234 | $1,234 |
| AG2 | - | $1,234 | $1,234 |
| P1 |
|
$1,234 | $1,234 |
| P1 | - | $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
1894 $1 VF35 PCGS. CDN: $1,100 Whsle. Bid for NGC/PCGS VF35. Mintage 110,972. ...
$1,281
1894 $1 XF40 PCGS. CDN: $1,250 Whsle. Bid for NGC/PCGS XF40. Mintage 110,972. ...
$1,281
1894 $1 XF45 PCGS. CDN: $1,450 Whsle. Bid for NGC/PCGS XF45. Mintage 110,972. ...
$1,586
1894 $1 VF25 PCGS. CDN: $825 Whsle. Bid for NGC/PCGS VF25. Mintage 110,972. ...
$976
1894 $1 VG8 PCGS. CDN: $700 Whsle. Bid for NGC/PCGS VG8 . Mintage 110,972. ...
$824
1894 Morgan Silver Dollar. EF Details--Cleaned (PCGS).
$15
1894 Morgan Silver Dollar. EF Details--Cleaned (PCGS).
$15
1894 $1 -- Harshly Cleaned -- CACG Details. AU. Mintage 110,972. ...
$1,403
1894 $1 AU55 NGC. CDN: $1,900 Whsle. Bid for NGC/PCGS AU55. Mintage 110,972. ...
$2,318
1894 $1 AU58 NGC. ...
$3,050
1894 $1 MS65 PCGS. CAC. ...
$48,800
1894 $1 AU53 PCGS. CDN: $1,700 Whsle. Bid for NGC/PCGS AU53. Mintage 110,972. ...
$2,520
1894 $1 MS64 PCGS. The economic effects of the Panic of 1893 carried over for several years, resulting in lower mintages of...
$10,200
1894 $1 MS63 NGC....
$8,400
1894 $1 VG10 PCGS. Mintage 110,972. ...
$876
1894 $1 Good 4 ANACS. Mintage 110,972. ...
$564
1894 $1 -- Cleaned -- ANACS Details. MS60. Mintage 110,972....
$2,280
1894 $1 MS61 NGC....
$3,240
1894 $1 MS66 PCGS. In 1894 the Philadelphia Mint produced the second-lowest circulation strike mintage in the Morgan dollar...
$90,034
1894 $1 MS62 PCGS....
$3,480
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