As is the case with 1890, 1891 Morgan Silver Dollar coins are among the least expensive of early 1890s issues within the series. As usual, the Carson City mint issue commands the highest price of any Morgan Dollar within a given year. Otherwise, 1891 Morgan Dollars are comparatively common and shouldn’t set you too far back if you are buying circulated examples for your Morgan Dollar collection.
The 1891 Morgan Silver Dollar was produced in four mints: Carson City, New Orleans, Philadelphia, and San Francisco. The most valuable 1891 Morgan Silver Dollar carries the "CC" mintmark used by the Carson City Mint. It always carries a premium value because of very low production, making it the rarest 1891 Morgan Dollar. The New Orleans Mint used an "O" and the San Francisco Mint an "S”. The main mint in Philadelphia did not use a mintmark. Proof examples of Morgan Dollars from all years, including 1891, are rare which makes them expensive.
1891 Morgan Silver Dollar Mintage Figures
- 1891: 8,693,556;
- 1891-CC: 1,618,000;
- 1891-O: 7,954,529;
- 1891-S: 5,296,000;
- 1891 Proof: 650;
Aside from the CC-mint Morgan Dollar, all regular-issue pieces from 1891 are relatively common and are obtainable in the lower circulated grades for a little more than their melt value. When it comes to buying the 1891-CC, be sure to buy authenticated and slabbed pieces only, as there are many counterfeit Carson City mint Morgan Dollars on the market thanks to an influx of forgeries coming from China. If you do buy raw, be sure you only purchase from a reputable coin dealer that has extensive experience in handling Morgan Silver Dollars.