Last Updated on May 27, 2022
Also known as the Morgan Dollar, the 1902 silver dollar is one of the best collectible coins. The silver dollar has a high value in the antique market as it is a bit difficult to find in a mint condition. The 1902 silver dollars were produced in various mints, and the value of every variant is different.
Therefore, keep reading to know everything about the 1902 Morgan Silver Dollar.
How Much Is A 1902 Silver Dollar Worth?
The Morgan silver dollars were produced for many years, but the 1902 dollar is one of the most appreciated US coins. The silver dollars were produced in Philadelphia, New Orleans, and San Francisco.
The Philadelphian silver dollar with no mintmark has a value of $27 to $33 in very good condition. In extremely fine condition, the coin is worth around $47. However, the uncirculated condition coins with an MS-60 grade are valued at $65 and $538 for the MS-65 grade.
The proof coins of the 1902 silver dollars were only produced in the Philadelphia mint and had a value of $3,220. The silver dollars produced in New Orleans have an O mintmark and are valued at $33 in very good condition.
The value of very fine and extremely fine coins ranges from $45 to $47. The MS-60 uncirculated condition silver dollar is worth about $65. On the other hand, you can get around $204 for MS-65 uncirculated conditions.
Last but not least, the San Francisco 1902 silver dollars have an S mintmark engraved. In very good condition, the coin is worth around $126. In addition, you can get around $165 for extremely fine and $223 for extremely fine condition coins.
The 1902 silver dollar with an MS-60 grade is valued at $424 and $3,132 for an MS-65 grade Morgan silver dollar.
What Is The Metal Composition of A 1902 Silver Dollar?
The metal composition of a coin is the content and material it is made up of. For example, the 1902 silver dollars are 90% silver and 10% copper. Therefore, the silver dollars also have a melt value due to the high amount of silver in every coin.
Many people extract silver from the silver dollars that are poor in condition. By this, they can get a higher value than the selling price of a coin.
Where Is The Mintmark Present on 1902 Silver Dollars?
If you are looking for the mintmark on a 1902 silver dollar, you will find it on the coin’s reverse side below the wreath. The coins produced in the San Francisco mint will have an S mintmark, and New Orleans ones will have an O mintmark on the same location.
However, if you look at a 1902 silver dollar that doesn’t have any mintmark, it is produced in the Philadelphia mint. So don’t worry if you see such a silver dollar.
How To Know If 1902 Is Genuine?
Encountering fake coins is one of the biggest issues many people face. If you are new to collecting unique coins, you will face such problems with fake coins.
The best way to tell if the coin is original is through its specifications. As the silver dollar contains 90% silver, it will have a good amount of weight. For example, the 1902 silver dollar weighs about 26.73 grams, and no fake coin will have such a weight.
After confirming the weight, it is time to check the diameter and thickness of the coin. For example, the 1902 silver dollar has a diameter of 1.5 inches (38.1 mm) and is around (2.4 mm).
However, if you still have any confusion, the best way to verify if the coin is genuine is to get experts to look. Getting the coin verified will help you know about the grade and tell you the exact value it holds.
What Are Proof Coins?
The reason why it is important to produce proof coins is to check the dies and archival purposes. The proof coins were just simple coins looking slightly different from actual coins.
As the proof coins were never circulated, they hold the highest value in the market. It is a special type of coin for collectors.