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Assuming the coin is circulated and has no mintmark, the 1904 MORGAN dollar is a common coin. For an accurate assessment of value the coin needs to be seen and graded. In general retail values for low grade coins are $18.00-$21.00, better grade are $23.00-$25.00 and coins showing almost no wear run from $31.00-$49.00. Values are a market average and only for coins in collectible condition, coins that are bent, corroded, scratched, used as jewelery or have been cleaned have far less value if any to a collector or dealer

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