Morgan and Peace dollars share the same silver content: 0.7734 troy ounces of pure silver in a 26.73 g coin struck at 90% silver. At spot prices of October 7, 2026, with silver at $60.73 per troy ounce, every Morgan and Peace dollar has a melt value of $46.97. Eisenhower 40% silver dollars (S-mint collector versions, 1971–1976) are a different animal — 24.59 g at 40% silver — producing a melt value of $19.20. The chart and math below use the October 7, 2026 snapshot; use the coin-melt-value calculator for today’s live figure.
Silver Dollar Melt Value Chart (October 7, 2026)
| Coin | Years | Gross weight | Silver purity | ASW (ozt) | Melt value |
|---|---|---|---|---|---|
| Morgan dollar | 1878–1921 | 26.73 g | 90% | 0.7734 | $46.97 |
| Peace dollar | 1921–1935 | 26.73 g | 90% | 0.7734 | $46.97 |
| Eisenhower dollar (40% silver, S-mint) | 1971–1976 | 24.59 g | 40% | 0.3161 | $19.20 |
Reference snapshot: silver $60.73/ozt, October 7, 2026 (gold-api.com, 07:29 UTC). These melt values change with spot price. Use the calculator for real-time figures.
Coin weights and purities from US Mint specifications, confirmed by NGC coin melt values database (ngccoin.com).
How to Calculate Each Melt Value
Morgan Dollar (and Peace Dollar)
- Gross weight: 26.73 g
- Silver weight: 26.73 g x 0.90 = 24.057 g
- Convert to troy ounces: 24.057 ÷ 31.1034768 = 0.7734 ozt
- Melt value: 0.7734 x $60.73 = $46.97
Eisenhower 40% Silver Dollar (S-mint, 1971–1976)
- Gross weight: 24.59 g
- Silver weight: 24.59 g x 0.40 = 9.836 g
- Convert to troy ounces: 9.836 ÷ 31.1034768 = 0.3161 ozt
- Melt value: 0.3161 x $60.73 = $19.20
Key Differences Between the Three Types
Morgan Dollar (1878–1921)
The Morgan dollar was struck from 1878 to 1904, then revived in 1921. Designer George T. Morgan’s Liberty head appears on the obverse. The series spans five mint marks (Philadelphia, Carson City, New Orleans, San Francisco, Denver), making it one of the most actively collected US coin series. Common dates in worn condition trade close to melt. Scarce dates — particularly Carson City issues such as 1889-CC and 1893-S — command premiums far above silver value. Every Morgan dollar regardless of date has the same 0.7734 ozt ASW and the same melt floor.
Peace Dollar (1921–1935)
The Peace dollar replaced the Morgan dollar and was struck from 1921 to 1928, then again in 1934–1935. The design by Anthony de Francisci commemorates the end of World War I. Weight and purity are identical to the Morgan dollar (26.73 g, 90% silver, 0.7734 ozt ASW). The 1921 Peace dollar is a one-year high-relief type and carries a modest premium above melt even in circulated grades. The 1934-S and 1935-S are the key dates of the series.
Eisenhower Silver Dollar (40%, S-mint, 1971–1976)
Most Eisenhower dollars struck from 1971 to 1978 are copper-nickel clad with no silver content. The 40% silver versions were struck exclusively at the San Francisco Mint for collector proof and uncirculated sets. They carry an “S” mint mark on the obverse above the date. Clad Eisenhowers (P and D mint marks) contain no precious metal. The composition of the silver versions is an outer layer of 80% silver/20% copper bonded to an inner core of 21.5% silver/78.5% copper, producing an overall 40% silver content in the 24.59 g coin.
The 1976-S Eisenhower, struck for the Bicentennial, features a special reverse with the Liberty Bell and moon design. Its silver specifications are identical to other 40% Eisenhower dollars.
Melt Value at Different Spot Prices
The table below shows how melt values change at different silver spot prices. These help you see the current value range regardless of where silver is trading.
| Silver spot (per ozt) | Morgan/Peace melt | Eisenhower 40% melt |
|---|---|---|
| $40 | $30.94 | $12.64 |
| $50 | $38.67 | $15.81 |
| $60 | $46.40 | $18.97 |
| $60.73 (Oct 7, 2026) | $46.97 | $19.20 |
| $70 | $54.14 | $22.13 |
| $80 | $61.87 | $25.29 |
Morgan/Peace: 0.7734 ozt x spot. Eisenhower 40%: 0.3161 ozt x spot. Values rounded to the nearest cent.
How Spot Price Affects Your Collection
If you own 10 Morgan dollars and silver moves $5 per troy ounce:
Change in melt value per coin: 0.7734 ozt x $5 = $3.87 Change across 10 coins: $38.70
For 10 Eisenhower 40% silver dollars: Change per coin: 0.3161 x $5 = $1.58 Change across 10 coins: $15.80
This illustrates why Morgan and Peace dollars offer greater silver exposure per coin than 40% Eisenhowers. On a per-dollar-of-face-value basis, however, the 40% Eisenhower has lower silver content than any denomination of 90% coin — it carries 0.3161 ozt on a $1 face value, whereas a 90% Morgan or Peace dollar at the same face value contains 0.7734 ozt.
What These Coins Sell for vs. Melt
Common-date Morgan and Peace dollars in worn, circulated grades typically sell for $2–$15 above melt at any given spot price. In high-demand periods or for dates with collector interest, premiums are higher. Use the melt value as a floor when evaluating any offer — no reputable dealer should offer less than melt for a genuine 90% silver dollar.
Eisenhower 40% silver dollars trade at tighter premiums over melt. Because dealers find them less liquid than 90% coins (they require more processing per ounce of silver), buyback rates for 40% Eisenhowers tend to run 2–5% below the rates you would get for 90% coins of equivalent silver weight. See how coin dealers price silver for typical dealer payout percentages by coin type.
How to Identify a Genuine Silver Dollar
Before relying on melt value, confirm you have a genuine silver coin:
Weight check. A Morgan or Peace dollar should weigh 26.73 g on a scale reading to 0.01 g. A weight significantly below 26.5 g or above 27.0 g warrants further investigation. Eisenhower 40% silver examples should weigh 24.59 g.
Magnet test. Real silver is not magnetic. A neodymium magnet placed on the coin should produce a slow, sliding motion caused by eddy currents (the Lenz effect) — it should not snap onto the coin. If the coin attracts the magnet like iron, it is not silver.
Visual check. Morgan and Peace dollars have clear design detail on original surfaces. Counterfeits often show mushy lettering or incorrect relief height. Under 5x magnification, original coin surfaces show die flow lines; cast counterfeits show a grainy surface texture.
Mint mark location. On Morgan dollars, the mint mark is on the reverse below the eagle’s tail, above the letters “DO” in “DOLLAR.” On Eisenhower 40% silver examples, the “S” mint mark appears on the obverse above the date. A clad Eisenhower carries a “P” or “D” mint mark and contains no silver.
Third-party authentication. For any coin where the value above melt is significant, PCGS or NGC certification provides definitive authentication. Both services have detected sophisticated counterfeits that pass weight and magnet tests. Submitting a coin costs $25–$75 depending on service tier and is worth it when the potential premium justifies it.
For all three types, the live melt value is always one calculator away: enter the quantity and type into the coin-melt-value calculator to see today’s number.