$15.00 to $20.00 in circulated condition
1881 is a common date Morgan dollar, retail values for circulated examples are $17.00-$26.00 depending on grade
1881 is a common date for Morgan dollars, circulated coins are valued at $17.00-$26.00
Assuming the coin is circulated, the 1881 Morgan dollar is a common coin. Values are $17.-$26.00 for coins in collectible condition, coins that are bent, corroded, scratched or have been cleaned have far less value if any to a collector or dealer
Assuming the coin is circulated and has no mintmark, the 1881 Morgan dollar is a common date of the series. For an accurate assessment of value the coin needs to be seen and graded. Circulated coins are $38.00-$44.00.
Assuming the coin is circulated and has no mintmark, the 1881 Morgan (not a Liberty Head) dollar is a very common coin with retail values of $32.00-$39.00 depending on the grade.
6-26-11>>> The 1881-S Morgan is very common, circulated coins are $36.00-$40.00.
Numismedia shows an 1881-O deep mirror proof-like Morgan retailing for about $88.
If you are asking about the morgan 1881 silver dollar it is from 21.28-22.59 . The biggest factor is what condition it is in. An uncirculated coin free of marks could get 38.53 . Add more to it's value if the mint mark in Carson City.
The correct name for this coin is "Morgan dollar" (note the spelling) after its designer George Morgan. The image is of course the head of Lady Liberty rather than Mr. Morgan! Please see the Related Question for information about values.
The 1881-O (New Orleans) Morgan is common, retail values are $17.00-$26.00 for circulated examples.
The 1881-S Morgan is very common, circulated coins are $17.00-$26.00.
Assuming the coin is circulated and has no mintmark's, retail values are $29.00-$42.00 depending on the actual grade of the coin. The 1881 Morgan dollar is a very common coin.