According to CoinStudy, a 1902 Morgan silver dollar is rare. Coins in mint and near-mint condition are considered particularly rare by collectors. The top-condition 1902 Morgan silver dollars are valued at between $41.41 and $278, depending on their mint mark, as of 2014.
While the 1902 Morgan silver dollars in mint condition are rare as of 2014, the coins in poor condition may be worth little more than the melt value of their silver content. The U.S. Mint produced 7.994 million 1902 Morgan silver dollars at its Philadelphia facility. The New Orleans mint produced 8.636 million 1902 Morgan silver dollars, while the San Fransisco location produced only 1.53 million, making those coins the most rare.