How Much is a Silver Dollar Worth

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Contributor, Benzinga
January 9, 2023

Silver is one of the most common precious metals and is currently trading at $23.87 per ounce. Like gold, it's considered an inflation hedge, especially since only a finite amount of it exists. Silver has a lower price since it’s around 19 times more abundant than gold in the earth's crust


Silver is used in various industries like medicine, defense, electronics, batteries, water purification systems, paints and photography. Because of its many uses and status as an inflation hedge, more investors are looking to add it to their portfolios.

One of the easiest and most cost-effective ways to do this is by purchasing silver dollars. This guide will break down the types of silver dollars, how much a silver dollar is worth and how to trade them.

Variations of silver dollars have been traded since the 1500s. Many types of silver dollars that vary in price from mint, purity, age and design are available. Some of the most common and accessible ones include the Morgan Silver Dollar, Peace Silver Dollar and American Silver Eagle.

Morgan Silver Dollar


Morgan Silver Dollars were designed by the U.S. Mint engraver George T. Morgan back in 1873. These coins were also used to stabilize the oversupply of silver back in the late 1800s. It’s currently available on Birch Gold Group and has the following stats:

Gross weight: 26.73 g

Silver content: 0.77344 troy oz

Composition: 90% silver, 10% copper

Diameter: 38.1 mm

Current price: $18.54

Peace Silver Dollar


Peace Silver Dollars are available on Birch Gold Group and were first minted after the end of World War I to commemorate the peace following the war. Italian-born designer Anthony de Francisci created the coin’s design with Lady Liberty’s face and a bald eagle clutching an olive branch.

It was minted from 1921-1935, and here are a few additional facts about it:

Gross weight: 26.73 g

Silver content: 0.77344 troy oz

Composition: 90% silver, 10% copper

Diameter: 38.1 mm

Current price: $18.54

American Silver Eagle


American Silver Eagle coins were launched in 1986 and are the official version of the United States bullion silver coin. These coins are available in one-ounce denominations and contain 99.9% silver. It’s an especially valuable coin since it’s minted with silver from the U.S. and backed by the full faith of the U.S. government.

Key Stats

Weight: 1.000 troy oz (31.103 grams) Diameter: 1.598 inches (40.60 mm)

Current price: $23.97

They are currently available on Advantage Gold.

Remember that coin prices can vary, which is why you’ll need to call your dealer's support desk to know how much a silver dollar is worth.

Variations in the Price of Silver Dollars

Several factors impact the price of silver dollars.

  • Type of coin

Some common coin types include proof vs. bullion. Proof coins are struck at least twice in their design and preserved to maintain their finish. 

Proof coins are more valuable than bullion ones, which aren’t nearly as refined.

  • Silver purity

Some coins like the American Silver Eagle are made with 99.9% silver. Other coins have a lower amount of pure silver and are worth less.

  • Dealer

Some local dealers have much higher prices because of local taxes and commissions. With partners like Advantage Gold, American Hartford Gold, Birch Gold Group and Red Rock Secured, you can skip these fees and shop for multiple coins online in one place.

What is a Loco Swap?

A loco swap is a deal between a miner and a refinery that permits them to buy gold and silver from each other without physically shipping it. Each location can have a slightly different spot price based on freight charges as well as supply and demand.

If the spot price of London gold is slightly above the spot price of Zurich gold, then it’s trading at a premium. If the spot price of London were trading below Zurich, then it’d be at a discount.

Materials in a Silver Dollar

Most silver dollars aren’t made with 100% pure silver. It’s common to find traces of copper and zinc since those metals are used to maintain each coin’s shape and durability. Most silver dollars created before 1935 have at least 90% silver, with coins after that year having various amounts. 

One example includes the Eisenhower silver dollars (1971-1978) that were issued in both proof and circulation versions. Circulation versions contain no silver, while proof versions have 40% silver. 

Top Companies that Sell Silver Dollars and Other Precious Metals

Now that you know roughly how much a silver dollar is worth, you should learn about some of the top precious metals trading platforms. Benzinga partners like Advantage Gold, American Hartford Gold, Birch Gold Group and Red Rock Secured have many traits of top silver companies.

For starters, they offer a wide variety of coins, bars and precious metals. These firms also have dedicated, U.S.-based professionals who can walk you through buying and selling silver over the phone. The best brokers will also have free educational resources like blogs, up-to-date price charts, ebooks and videos.

Be sure to work with precious metals companies that have at least five years of being in business, have good Better Business Bureau/TrustPilot reviews and have an easy-to-navigate website.

It’s also wise to work with a company that can also offer precious metals IRAs.

How to Buy Silver Dollars in a Precious Metals IRA

You can use a self-directed IRA to buy, sell and trade silver dollars on a tax-advantaged basis. Like standard IRAs, you can choose to have them set up on a tax-deferred or after-tax (Roth) basis.

By law, you must have a third-party custodian store your silver if you hold them in a self-directed IRA. Benzinga partners like Advantage Gold, Birch Gold Group, American Hartford Gold and Red Rock Secured have been helping investors trade silver with a self-directed IRA for years.

They can also tell you which coins are approved to be held in a self-directed IRA. Red Rock Secured is currently offering a free ebook on buying silver, which also reveals IRS loopholes to legally reduce your tax burden while trading silver.

Are Silver Dollars Worth Buying?

Silver dollars are a good way to add silver to your portfolio without breaking the bank. You can also benefit from tax advantages when you trade them in a self-directed IRA.

However, silver prices can fluctuate based on supply and demand, interest rates, government policies and changes in technology. Silver can be a good inflation hedge, but it’s often more volatile than gold because of the smaller market and less liquidity.

Like with most types of investing, approach investing in silver with a long-term mindset and consider working with a financial professional to determine an appropriate portfolio allocation.

Frequently Asked Questions


What is the rarest silver dollar?


In 2013, a 1794 “Flowing Hair” silver dollar sold for over $10 million. It gets its name from the appearance of Lady Liberty on one side.


What do “CC” and “S” mean on some silver dollars?


These initials show you where each coin was minted. Coins minted in Carson City will have a “CC” and coins minted in San Francisco will have an “S.”