AboutMyCoin1904-O Morgan Dollar in XF40
A 1904-O Morgan dollar graded XF40 is that coin in one particular state of preservation — the date and the mint mark are already fixed, and XF40 is what a grader called the surface that survived. What that looks like on this coin is below. The nearest grade of this date this site does have a researched figure for is About Uncirculated (AU-50), at $56 to $100, from sales and public data.
What XF40 means
A 1904-O Morgan dollar in Extremely Fine (XF-40) has light wear on the high points and nowhere else: the eagle’s individual wing and breast feathers and the leaves of the wreath survive except where the hair above Liberty’s ear and the cotton bolls in her cap have just begun to flatten, and traces of mint lustre often remain in the protected areas beside the devices.
A slab, a dealer’s list or a price guide may write this grade XF-40, EF40 or EF-40. They are the same grade and the same 1904-O Morgan dollar.
Where this grade sits
The grades a 1904-O Morgan dollar is given run from PO1 to MS70. One step up from XF40 is Extremely Fine (XF-45). In general terms, the higher the grade the more the coin is worth.
A blank in the value column is a grade this site has not researched, not a grade the coin is worth nothing in.
How to check this yourself
Sold listings, not asking prices. The link below is already filtered to completed sales of a 1904-O Morgan dollar in XF40, which is the difference between what somebody paid and what somebody hoped for. Until this site has a researched figure for this grade, that search is the answer — take the middle of several recent sales rather than the highest.
The metal floor under it
$49.79
0.7734 troy oz silver × $64.38 per troy ounce
$64.38/ozt, based on spot prices at 23 September 2026 19:59 UTC
Whatever the market does, a 1904-O Morgan dollar cannot be worth less than the metal in it. That figure is what the premium for XF40 is measured against, and it moves with the metal price rather than with the coin market.
Where these figures come from
We gather publicly available data from several public sources including eBay, PCGS, NGC, Numista, USA Coin Book, PriceCharting, and others.
Not an appraisal. AboutMyCoin estimates from published specifications and does not authenticate or grade coins.
1904-O Morgan Dollar: every grade, the metal and the specification →