The 1878 7TF Reverse of 1878 Morgan Dollar is worth anywhere from $40 in worn condition to over $3,500 in high-grade mint state. As the very first year of the legendary Morgan Silver Dollar series, this specific variety represents a fascinating moment in American minting history when the design was still being perfected.

Condition / Grade	Estimated Value (USD)
Good (G-4) to Very Good (VG-8)	$40 – $55
Fine (F-12) to Very Fine (VF-20)	$60 – $85
Extremely Fine (EF-40) / About Uncirculated (AU-50)	$100 – $180
Uncirculated (MS-60 to MS-63)	$250 – $650
Choice Uncirculated (MS-65+)	$2,500 – $15,000+

Understanding the 1878 Morgan Dollar 7 Tail Feathers Variety

The year 1878 was a chaotic time for the Philadelphia Mint. When George T. Morgan first designed the coin, the eagle on the reverse side originally had eight tail feathers. However, some researchers argued that American eagles actually have an odd number of tail feathers, usually seven.

Responding to public criticism, the Mint changed the design mid-year to seven tail feathers. This resulted in three distinct major varieties for the Philadelphia issues: the 8 Tail Feathers (8TF), the 7/8 Tail Feathers (where 7 were stamped over 8), and finally the 7 Tail Feathers (7TF). If you have found one of these in an old drawer, using a top coin identifier app can help you distinguish between these subtle variations.

The “Reverse of 1878” specifically refers to the first version of the 7TF design. On this version, the top feather of the eagle’s arrows is parallel to the others, and the eagle’s breast is flat rather than rounded. Amateur collectors often use the CoinKnow app to zoom in on these features to ensure they aren’t looking at the “Reverse of 1879” variety, which carries different market values.

Current Market Value and Pricing Tiers

Determining the exact 1878 7TF Morgan Dollar value depends heavily on the coin’s preservation. Most coins found today are in “circulated” condition, meaning they sat in people’s pockets or cash registers over a century ago. These typically sell for their silver weight plus a significant collector premium.

If your coin still has its original “mint luster”—that shiny, frosty look – the price skyrockets. You can find detailed 1878 Morgan Dollar auction results and price trends for higher grades online. Generally, a coin that looks brand new (MS-63 or higher) will start at several hundred dollars.

Expert grading is essential for these coins. Professional services like PCGS or NGC assign a numerical grade from 1 to 70. A jump from an AU-58 (almost uncirculated) to an MS-62 (mint state) can represent a price difference of $150 or more. Many users rely on CoinKnow to get a baseline estimate before paying for professional certification.

Grade Level	Estimated Market Price
Average Circulated (VG-VF)	$55 – $75
Low Mint State (MS-61)	$325 – $400
Gem Mint State (MS-65)	$3,200 – $4,500
Superb Gem (MS-66+)	$15,000+

How to Identify the “Reverse of 1878” (Second Reverse)

To know if you have the specific “Reverse of 1878” (also known as the Second Reverse or SAFEL – Second Abbreviated Fourth Eagle Limb), you must look at the eagle on the back. This version is distinguished from the later “Reverse of 1879.”

First, look at the top arrow feather. On the 1878 reverse, the top feather is parallel to the arrow shaft, and the arrow flight is straight. Additionally, the eagle has a “flat breast.” The later 1879 design redesigned the eagle to have a convex, rounded breast and a slanted top arrow feather.

For those trying to verify accurate 1878 silver dollar variety pricing, the “Reverse of 1878” is generally considered the more common type for the 7TF Philadelphia minting, but deep mirror proof-like (DMPL) examples are exceptionally rare and highly sought after by specialists.

Silver Content and Melt Value Considerations

While many collectors focus on the numismatic (collector) value, it’s worth noting that every 1878 Morgan Dollar consists of 90% silver and 10% copper. This gives the coin a “floor price” based on the current price of silver bullion.

Each dollar contains roughly 0.7734 troy ounces of pure silver. If silver is trading at $25 per ounce, the “melt value” of your coin is roughly $19.33. However, because this is a first-year 1878 7TF issue, you should never sell it for just the silver price.

Even the most beat-up, scratched, or “cull” 1878 Morgan Dollar usually sells for a premium of at least $10-$20 over its silver content because of its historical significance. Using tools like CoinKnow can help you keep track of both the bullion value and the collector demand in real-time.

Silver Weight	Purity	Intrinsic Value (Silver at $25/oz)
0.77344 oz	90% Silver	Approx. $19.34

Key Factors That Influence the Value of This Coin

Condition is king in the world of Morgan Dollars. Because these coins were heavy and often stored in large canvas bags, they frequently bumped into each other. This created “bag marks”—tiny nicks and scratches on the face of Lady Liberty or the fields of the coin.

Coins with very few bag marks, especially on Liberty’s cheek, are much more valuable. Furthermore, “eye appeal” matters. Some 1878 dollars have developed “toning,” a colorful oxidation that can turn a coin shades of blue, magenta, or gold. Investors often pay a hefty premium for beautifully toned specimens.

Lastly, the mint mark (or lack thereof) is crucial. If there is no letter below the wreath on the reverse, it was minted in Philadelphia. Philadelphia produced both the 8TF and 7TF varieties. If you see an “S” (San Francisco) or “CC” (Carson City), you have a completely different coin with a different value structure entirely.

Summary for Sellers and Collectors

If you have discovered an 1878 7TF Morgan Dollar, your first step should be to protect it. Do not clean the coin! Cleaning a historic silver dollar with polish or even soap can strip away its original surface and destroy up to 50% of its market value instantly. Collectors prefer a dirty, original coin over a shiny, scrubbed one.

Once protected in a soft flip or holder, compare your coin to high-resolution photos or use a specialized app to determine if it is the 8TF, 7/8TF, or 7TF variety. If the coin appears to be in exceptionally good condition, it may be worth spending the money to have it professionally graded by a service like PCGS.

For everyday Americans, these coins are a tangible piece of the “Wild West” era. Whether you choose to sell it to a local coin shop or keep it as an heirloom, knowing the history of the 7 tail feathers design adds a layer of appreciation to an already beautiful piece of American history.

FAQ

Q: How can I tell if my 1878 Morgan Dollar has 7 or 8 tail feathers?

A: Simply look at the eagle on the back of the coin. Count the feathers on the tail. If there are 8, it is the first variety. If there are 7, it is either the “Reverse of 1878” or “Reverse of 1879.” You can also find a “7 over 8” variety where the tips of the 8 original feathers peek out from under the 7 newer ones.

Q: Why is my 1878 Morgan Dollar worth more than other years?

A: 1878 is the first year of the series. Because it was a transition year, there are several varieties (8TF, 7/8TF, 7TF) that collectors try to assemble into a complete set. This increased demand from specialists keeps prices higher than common dates from the 1880s or 1921.

Q: Should I clean my 1878 silver dollar to make it look better?

A: Absolutely not. Cleaning a coin leaves microscopic scratches and removes the “luster.” Professional buyers and collectors can easily spot a cleaned coin and will offer significantly less money for it. Keep it in its “as-found” condition.

Q: What is the most valuable 1878 7TF Morgan Dollar ever sold?

A: In extremely high grades like MS-67, these coins have sold at auction for over $30,000. For most people, however, the value will fall between $50 and $500 depending on the amount of wear and tear.