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Very Fine
For a Morgan dollar to be in very fine condition, most of Lady Liberty's hair lines must still be visible and her ear must be defined, yet the feathers on the eagle's breast are well worn. An example in this shape is worth $15 to $20.
Extremely Fine
The coin rates as extremely fine if all hair lines are strong and the ear is bold. The eagle's feathers can be seen clearly, but there is some wear on the breast and wing tips. A Morgan silver dollar in this condition is valued at $17 to $22.
About Uncirculated
This grade of coin has only slight trace of wear on the hair at the forehead and on the eagle's breast and wing tips. About uncirculated coins are usually sold for $20 to $25.
Uncirculated
The Morgan silver dollar is considered uncirculated if there is no trace of wear and the full mint luster is present. The coin can have noticeable surface marks or abrasions. A coin in this condition is valued at $30 to $45.
Choice Uncirculated
For a coin to be considered choice uncirculated, there must be no trace of wear but a full mint luster and few noticeable surface marks. An example minted in Philadelphia is worth $40 to $50, while those minted in Denver and San Francisco are worth $70 to $80 each. The mint mark can be seen below the wreath on the reverse: "S" stands for San Francisco, and "D" stands for Denver. Coins minted in Philadelphia lack a mint mark.