Morgan dollar values vary widely, from around $25 to over $55,000 for an 1878 O Morgan, as of 2015. The coin's value depends on its condition as well as the year and location of its minting. Morgans are 90 percent pure silver with their melted value depending on metal prices.
Over 657 million Morgans were minted between 1878 and 1921 by the U.S. Treasury Department. The location of their minting, and much of their value, is indicated by the mint mark from one of the five mints that produced them. The Philadelphia mint had no mark, while San Francisco had an S, New Orleans carried an O, Carson City was marked with a CC and Denver coins were inscribed with a D.