1878 was the first year of issue for this coin. Of the 5 types of 1878 Morgan Dollars the values for the coins are about the same for circulated examples $39.00-$55.00 depending on grade and type.
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The US struck a gold and silver one dollar coin in 1878, post new question as to type of coin.
The most common type of 1878 Morgan sells for $17.00-$30.00 in circulated grades
The mint mark (if it has one) on all Morgan (1878-1904 & 1921) silver dollars is on the reverse of the coin, just above the letters "DO" in dollar.
Of the 4 types of 1878 Morgan Dollars the values for the coins are about the same for circulated examples $17.00-$55.00 depending on grade and type.
Look at the coin again, the first Morgan dollar was struck in 1878. With a date of 1862 the coin is one of the Seated Liberty series (1840-1873) an would have values of $550.00 to $1,500.00 or more depending on the grade.