Price Guide for 1903 Dollar Variants
This guide presents price ranges for variants from three sources: eBay sales, third-party auctions, and PCGS guides. Values are shown for various conditions, allowing collectors to compare across different market segments. Price estimates may vary between sources, especially for rarer variants.
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3rd Party PriceCirculated: $21.00 – $4,000.00Uncirculated: $21.00 – $36,000.00
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eBayCirculated: $25.45 – $565.00Uncirculated: $18.50 – $4,510.00
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PCGS Price GuideCirculated: $44.00 – $115.00Uncirculated: $120.00 – $25,000.00
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3rd Party PriceCirculated: $24.00 – $17,250.00Uncirculated: $40.00 – $86,250.00
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eBayCirculated: $21.50 – $4,800.99Uncirculated: $3,257.00 – $27,000.00
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PCGS Price GuideCirculated: $75.00 – $4,500.00Uncirculated: $5,000.00 – $185,000.00
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3rd Party PriceCirculated: $17.50 – $5,000.00Uncirculated: $24.50 – $36,000.00
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eBayCirculated: $215.00 – $980.00Uncirculated: $225.00 – $5,720.00
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PCGS Price GuideCirculated: $315.00 – $710.00Uncirculated: $725.00 – $36,000.00
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3rd Party PriceCirculated: $38.00 – $23,000.00Uncirculated: $7,475.00 – $76,375.00
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eBayCirculated: $74.00 – $3,000.00
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PCGS Price GuideCirculated: $115.00 – $40,000.00Uncirculated: $50,000.00 – $95,000.00
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3rd Party PriceCirculated: $850.00Uncirculated: $265.00 – $9,002.00
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eBayUncirculated: $569.00 – $985.50
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PCGS Price GuideUncirculated: $625.00 – $15,000.00
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3rd Party PriceCirculated: $577.00 – $1,760.00Uncirculated: $7.50 – $76,375.00
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eBayCirculated: $1,076.11Uncirculated: $125.00 – $8,615.00
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PCGS Price GuideCirculated: $1,050.00 – $2,000.00Uncirculated: $2,250.00 – $40,000.00
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3rd Party PriceUncirculated: $102.00 – $5,175.00
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eBayUncirculated: $145.00 – $800.00
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PCGS Price GuideUncirculated: $215.00 – $4,000.00
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3rd Party PriceUncirculated: $720.00 – $19,550.00
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PCGS Price GuideUncirculated: $400.00 – $26,500.00
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eBayUncirculated: $150.50 – $325.00
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3rd Party PriceUncirculated: $126.00
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eBayCirculated: $46.01 – $200.00Uncirculated: $81.00 – $1,289.50
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eBayCirculated: $995.00Uncirculated: $62.99 – $664.95
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eBayUncirculated: $192.50 – $405.00
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eBayUncirculated: $71.00
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eBayCirculated: $399.99Uncirculated: $139.98 – $380.00
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3rd Party PriceCirculated: $3,250.00Uncirculated: $805.00 – $11,500.00
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eBayUncirculated: $685.00 – $1,800.00
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PCGS Price GuideUncirculated: $700.00 – $14,500.00
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3rd Party PriceUncirculated: $603.75 – $2,640.00
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eBayUncirculated: $820.00 – $3,495.00
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eBayUncirculated: $519.95
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eBayCirculated: $245.00 – $575.00Uncirculated: $509.95 – $2,849.99
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eBayUncirculated: $399.00
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3rd Party PriceUncirculated: $552.00
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eBayUncirculated: $1,038.00
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eBayCirculated: $356.76 – $630.11
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eBayCirculated: $530.09
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3rd Party PriceUncirculated: $2,640.00
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eBayUncirculated: $849.99
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eBayUncirculated: $424.99
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eBayCirculated: $390.09Uncirculated: $1,100.00
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3rd Party PriceCirculated: $2,300.00Uncirculated: $5,290.00 – $31,200.00
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PCGS Price GuideUncirculated: $6,500.00 – $30,000.00
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eBayCirculated: $192.50 – $300.00
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3rd Party PriceCirculated: $275.00
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eBayCirculated: $28.00 – $1,225.00
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eBayCirculated: $33.00 – $78.00Uncirculated: $209.50 – $247.50
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3rd Party PriceCirculated: $46.00
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eBayCirculated: $41.87 – $185.00
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3rd Party PriceCirculated: $64.00
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3rd Party PriceCirculated: $60.00 – $94.00
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eBayCirculated: $49.88 – $2,779.46
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3rd Party PriceCirculated: $50.00 – $27,600.00Uncirculated: $72,000.00
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eBayCirculated: $55.00 – $3,388.00
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PCGS Price GuideCirculated: $175.00 – $40,250.00Uncirculated: $50,000.00 – $75,000.00
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3rd Party PriceUncirculated: $2,880.00 – $37,375.00
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PCGS Price GuideUncirculated: $2,700.00 – $65,000.00
Design and Specifications of the 1903 Dollar
The 1903 Morgan Silver Dollar was part of the long-running Morgan dollar series, which began in 1878 and continued until 1904, with a brief revival in 1921. This coin was minted during a period of relative economic stability in the United States, following the Panic of 1893 and preceding the Panic of 1907.
The Morgan dollar, named after its designer George T. Morgan, was a result of the Bland-Allison Act of 1878, which required the Treasury to purchase large amounts of silver for coin production. By 1903, silver dollar production had significantly decreased compared to earlier years in the series.
| Weight | 26.73 grams |
|---|---|
| Diameter | 38.1 mm |
| Mint Marks | O, S |
| Composition | 90% silver, 10% copper |
| Obverse Design | Liberty head design, also known as the Morgan dollar, designed by George T. Morgan |
| Reverse Design | Heraldic eagle with wings spread, clutching arrows and an olive branch, designed by George T. Morgan |
Rarity Factors and Value Drivers
The condition of 1903 Morgan dollars significantly impacts their value. While common in circulated grades, these coins become increasingly valuable in higher mint state conditions. Coins graded MS65 and above are scarce for all mint marks, with the San Francisco issue being particularly rare in gem condition.
Strike quality is an important factor, as well-struck coins with full breast feathers on the eagle and sharp details on Liberty’s hair are highly sought after. Luster plays a crucial role, with coins displaying full, frosty luster commanding premium prices. Toning can also add value, especially if it’s attractive and natural.
Mintage: 4,652,755
Rarity Scale: Common
Circulation Status: Moderate Circulation
Preservation Rarity: Common in grades up to MS64, scarce in MS65 and above
Varieties Errors: None significant
Market Demand: Moderate, typical for non-key date Morgan dollars
Mintage: 4,450,000
Rarity Scale: Common
Circulation Status: Moderate Circulation
Preservation Rarity: Slightly scarcer than Philadelphia in high grades, particularly MS65 and above
Varieties Errors: None significant
Market Demand: Moderate, with increased interest in high-grade specimens
Mintage: 1,241,000
Rarity Scale: Uncommon
Circulation Status: Limited Circulation
Preservation Rarity: Scarce in MS65 and above, with few gem specimens known
Varieties Errors: None significant
Market Demand: High, especially for well-preserved examples
Date and mint mark clarity are important for 1903 Morgan dollars. Weak strikes, particularly on the New Orleans and San Francisco issues, can affect the visibility of these features and impact value.
The San Francisco issue is generally the most valuable of the 1903 Morgan dollars due to its lower mintage and scarcity in high grades. Collectors often pay a premium for DMPL (Deep Mirror Prooflike) examples from any mint, as these coins exhibit exceptional mirror-like surfaces.
Prooflike and Ultra Prooflike specimens also command higher prices, especially for the New Orleans and San Francisco mints where they are less common. As with all Morgan dollars, VAM varieties (named after Leroy Van Allen and A. George Mallis) can add interest and value for specialized collectors.
