Whether you are a year set Morgan Dollar collector or going after one (or more) examples of each date and mintmark combination, the mid-1890s coins such as the 1893 Morgan Silver Dollar present substantial challenges to any collectors due to their high value. For this reason, many coin collectors either intentionally leave out Morgan Dollars from the mid-1890s or simply pursue other types of Morgan Dollar collections.
A popular alternative set includes a mint type set, which only requires one Morgan Dollar from each of the mints that struck coins in the series: Carson City, New Orleans, Philadelphia, and San Francisco. The Carson City Mint used a “CC” mintmark, the New Orleans Mint used an "O", and the San Francisco Mint an "S”. The main mint in Philadelphia did not use a mintmark. Whatever mint you choose, the values of the 1893 Morgan Silver Dollar start high and only get higher.
1893 Morgan Silver Dollar Mintage Figures
- 1893: 378,000; $300+
- 1893-CC: 677,000; $700+
- 1893-S: 100,000; $10,000+
- 1893 Proof: 792; $3,200+
If you do decide to pursue collecting any of the 1893 Morgan Dollars, remember that each of the coins listed above are highly counterfeited – and many of the forgeries are quite convincing. For this reason, it is often best to simply buy certified examples of any 1893 Morgan Silver Dollars that you want. Be choosy, as these coins are often very hard to locate even in the lower grades. If you want a higher-grade example, be patient. If you let your coin dealer know that you would like to purchase an 1893 Morgan Dollar, he or she may be able to put a special watch out for that coin and will let you know when one in the grade you want has been located and can be purchased.