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The 1903-S Morgan dollar is a tough date, with the vast majority of specimens surviving in circulated grades. It is a challenging coin in any uncirculated grade and especially rare above MS65, with only a few dozen known in the MS66 range and tiny handful in MS67. PLs are very rare and DMPLs are essentially non-existent.
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 1903-S remains a rare issue in the Morgan dollar series, and Mint State coins are desirable at all levels. Most are well struck and very attractive, and bagmarks are often minimal. If you can afford it, an MS-63 coin, hand picked for quality, is well worth owning. For many collectors the 1903-S will be one of those varieties for which a nice VF or EF coin is acquired, requiring some effort to find one of nice quality.
Surface Quality: Usually seen well struck, lustrous, and attractive.
Prooflike Coins: Prooflike coins are hardly ever seen, and on those blue-moon occasions it will be noticed that contrast is low.
Mintage and Distribution: Delivery figures by month: January–May, 0; June, 500,000; July, 0; August, 74,000; September, 108,000; October, 232,000; November, 99,000; December, 228,000. In July 1903 The Numismatist commented, “Up to April 6th the San Francisco Mint had coined in silver only half dollars. Quarters and dimes will probably be struck later in the year, but it is quite likely that no dollars will be issued at this mint during 1903.” However, dollars were indeed issued. Many were stored in the San Francisco Mint and distributed over a long period of years. In November 1953 several bags were released, causing a stir at the time. Now and again other bags would be paid out, including one obtained by California dealer John Skubis. By the late 1950’s virtually all had been paid out. I am not aware of any bags coming to light after that time.
VARIETIES:
Many varieties exist, some with new hub (introduced in 1900), and others with new hub over old hub, and with some slight features of the undertype visible; check VAM for details. 1903-S, Small S Mintmark—VAM-2. Mintmark much smaller than the regular, larger S. Possibly intended for use on quarter dollar dies. Usually seen in worn grades when seen at all. Rare.
Catalog Information
GSID:
7660
Designer:
George T. Morgan
Obverse Designer:
George T. Morgan
Obverse Lettering:
E PLURIBUS UNUM, LIBERTY, 1903
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:
1903-S
Denomination:
$1
Designation:
MS
Mint Location:
San Francisco
Mint Mark:
S
Mintage:
1,241,000
Coinage Type:
Morgan silver dollar
Coinage Years:
1878-1921
Composition:
90% silver; 10% copper
PCGS #:
7288
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Coin Value History
1903-S $1 MS
Value By Grade
1903-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) |
|---|---|---|---|
| MS67 |
|
$101,000 | $1,234 |
| MS67 | - | $81,500 | $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
1903-S $1 VF35 NGC. CDN: $330 Whsle. Bid for NGC/PCGS VF35. Mintage 1,241,000. ...
$378
1903-S $1 VF25 PCGS. CDN: $190 Whsle. Bid for NGC/PCGS VF25. Mintage 1,241,000. ...
$281
1903-S $1 VG10 PCGS. CDN: $82.17 Whsle. Bid for NGC/PCGS VG10. Mintage 1,241,000. ...
$165
1903-S $1 XF45 PCGS. CDN: $690 Whsle. Bid for NGC/PCGS XF45. Mintage 1,241,000. ...
$793
1903-S $1 XF40 NGC. CDN: $600 Whsle. Bid for NGC/PCGS XF40. Mintage 1,241,000. ...
$598
1903-S $1 VF30 NGC. CDN: $240 Whsle. Bid for NGC/PCGS VF30. Mintage 1,241,000. ...
$306
1903-S $1 MS63 PCGS. ...
$8,845
1903-S $1 MS65 PCGS. ...
$14,030
1903-S $1 AU50 PCGS. CDN: $2,000 Whsle. Bid for NGC/PCGS AU50. Mintage 1,241,000. ...
$2,220
1903-S $1 VF20 PCGS. CDN: $180 Whsle. Bid for NGC/PCGS VF20. Mintage 1,241,000. ...
$192
1903-S $1 MS64 PCGS. The mintage for the 1903-S Morgan dollar was only a little more than 1.2 million pieces, which is mini...
$10,500
1903-S $1 MS62 PCGS....
$9,000
1903-S $1 AU55 PCGS....
$3,360
1903-S $1 AU53 PCGS. CAC....
$4,080
1903-S $1 Fine 15 PCGS. Mintage 1,241,000. ...
$154
1903-S $1 Good 4 PCGS. Mintage 1,241,000. ...
$80
1903-S $1 MS66 NGC....
$21,600
1903-S $1 VG8 CACG. Mintage 1,241,000....
$99
1903-S $1 Fine 12 NGC. Mintage 1,241,000. ...
$114
1903-S $1 Good 6 PCGS. Mintage 1,241,000. ...
$99
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8/8/2024
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7/25/2024
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Knoxville Coin and Currency Show - TN
Location: Rothchild Catering & Conference Center
Saturday, August 1, 2026
