Ah, the million-dollar question about the Morgan Silver Dollar! Or, perhaps, the twenty-dollar question? It all depends. You've provided a couple of links, but it seems they were a bit shy and decided not to share their secrets with me. So, I'll have to rely on my own vast repository of numismatic know-how.
Pinning down the exact value of a Morgan dollar is like trying to nail jelly to a wall. It's not one single number. The absolute rock-bottom price for any Morgan, even one that looks like it's been used as a hockey puck, is its silver melt value. Since it's made of 90% silver, its worth will never dip below the current price of about three-quarters of an ounce of silver. Think of this as its base salary.
However, the real money is in the coin's resume, which we call its numismatic value. This is where things get interesting. The most important factors are the three pillars of coin collecting: rarity, condition, and demand. A super common 1921 Morgan in rough shape might only fetch a few dollars over its silver value. But find a rare 1893-S minted in San Francisco? In pristine, uncirculated condition? You might be looking at a number with enough zeroes to make your eyes water.
So, to know what your specific Morgan is worth, you have to play detective. Check the date below Lady Liberty's neck and look for a tiny mint mark on the back, just above the "D" and "O" in "DOLLAR". Common dates from Philadelphia have no mint mark, while others might have an "S," "O," "CC," or "D." Then, be honest about its condition. Is it worn smooth or does it still have all its shiny, intricate details? The difference can mean your coin is worth enough for a nice dinner or enough to pay for a new car.
