The Morgan silver dollar was minted from 1878 to 1921 and was designed by George T. Morgan. This popular design is heavily collected by numismatists, especially in light of the fact that a number of variations and misstrikes occurred with this coin over the years. Some of these variations can fetch premium prices.
First Reverse
The standard Morgan silver dollar features the profile of Liberty on the front and an eagle on the reverse, with arrows and an olive branch in its talons. For most years of its coinage, the dollar sells for $20 to $30 in commonly found very fine conditions and $45 to $60 in uncirculated conditions (2009).
8 Over 7
An 8 over 7 dollar was a misstrike made in the Carson City mint in 1880. Originally, the wrong date was stamped on the coin and then it was stamped over. Some examples have 80 over 79. Only about half a million samples of this coin exists and it can sell for $150 or more in very fine condition and $500 to $600 in uncirculated condition, as of 2009.
Second Reverse
On the second reverse, the reverse differed slightly on this coin in that the breast of the eagle was concave and the feathers at the top arrow ran parallel. This variation was seen in the years 1878 to 1880. It is only valued at a premium in conjunction with the 8 over 7 Carson City mint error.
Third Reverse
The third reverse had an eagle with a convex breast and slanted feathers near the top arrow. This variation is also seen on the same Morgan dollar as the 8 over 7 or 80 over 79 error.
1888 Double Die
In 1888, some copies of the New Orleans minted dollar were double stamped on the front, making Liberty's lips especially prominent. This is sometimes called the "hot lips" variety. In the best conditions, this can sell for much more than the standard issue. A regular 1888 Morgan dollar in uncirculated shape might sell for $40 while the "hot lips" version could go for $400, as of 2009.
1901 Double Die Reverse
Similar to the 1888 error, the 1901 dollar's reverse has some doubled tail feathers on the eagle. This is an even rarer specimen with coins in very fine shape selling for $250 to $300 while those in uncirculated condition have been priced at $5,000, in 2009.
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