Assuming the coin is circulated, the 1882 Morgan Dollar (1878-1904 & 1921) is a common coin. Most coins have seen heavy use and show a lot of wear. Retail values, as of 8-25-11, are $37.00-$41.00 depending on what grade the coin is. Values are only for coins in collectible condition, coins that are bent, corroded, scratched, used as jewelry or have been cleaned have far less value if any to a collector or dealer
Update:
Look on the back of the coin to see if there's a small mint mark letter above the DO in DOLLAR. It may be blank or there may be a CC, O or S. (The M on the front of the coin is the designer's monogram and not a mint mark.)
Numismedia lists the following approximate retail values as of 02/2016:
No mint mark (Philadelphia):
Very worn condition - $28
Moderately worn - $28
Slightly worn - $29
Almost no wear - $34
Uncirculated - $53 to $19,060 depending on quality
"CC" mint mark (Carson City):
Very worn - $81
Moderately worn - $97
Slightly worn - $108
Almost no wear - $125
Uncirculated - $216 to $45,000
"O" mint mark (New Orleans):
Very worn - $28
Moderately worn - $28
Slightly worn - $29
Almost no wear - $34
Uncirculated - $53 to $58,130
"O" mint mark over "S"
Very worn - $28
Moderately worn - $39
Slightly worn - $45
Almost no wear - $85
Uncirculated - $240 to $37,500
"S" mint mark (San Francisco):
Very worn - $28
Moderately worn - $28
Slightly worn - $29
Almost no wear - $34
Uncirculated - $53 to $4,810
DISCLAIMER: The retail values quoted are the best available as of the date shown, but may vary significantly due to changes in the precious metals market. Also the wholesale (buying) price of a coin will be less than the selling (retail) price. A reputable coin dealer will be able to give a more accurate valuation based on inspection of the coin.
FAQ's about Morgan dollars
E Pluribus Unum
The motto E Pluribus Unum (Latin for "Out of Many, One") is on ALL $1 coins minted since 1878 so that's not specific enough to ID any one coin.
Silver Eagles
Silver eagles are bullion coins minted since 1986 for sale to collectors but not for spending. Morgan dollars were made for use in ordinary circulation just like dimes and quarters.
A silver dollar with the national motto on it dated 1882 is actually called a MORGAN dollar, most all US coins have this motto somewhere on the coin. It's a very common coin with a retail value of $26.00-$32.00
In circulated condition $15.00 to $30.00
This is a common date Morgan and circulated coins have values of $17.00-$26.00 Mint state coins are $30.00-$40.00
what is the current value of an 1878 silver dollar
I know you wont believe this but... it is worth exactly... One dollar... surprising, isn't it?CORRECTION!!Silver dollars minted up till 1935 were made of 90% silver and 10% copper. The silver gives them a melt value of around $16 as of mid-2010. However, different dates, conditions, and mint marks can have a (possibly) much higher value to a collector. You can enter the question "What is the value of a(n) US silver dollar?" in the question box at the top of the screen to get a specific value for each date and mint mark that you have; e.g. What is the value of an 1889 US silver dollar?
A silver dollar with the national motto on it dated 1882 is actually called a MORGAN dollar, most all US coins have this motto somewhere on the coin. It's a very common coin with a retail value of $26.00-$32.00
In circulated condition $15.00 to $30.00
This is a common date Morgan and circulated coins have values of $17.00-$26.00 Mint state coins are $30.00-$40.00
A real silver dollar has a $25.00 value just for the silver.
what is the current value of an 1878 silver dollar
An 1882-O Morgan is a common New Orleans Mint coin. Circulated examples are $30.00-$37.00. Typical Mint State coins are $40.00-$50.00
An 1882-CC Morgan silver dollar sells on average for $200 in uncirculated state (source http://www.bestcoin.com/us-morgan-dollars.htm). This price would be for a certified coin by a reputable firm. Otherwise, the value should be 10-25% less.
I know you wont believe this but... it is worth exactly... One dollar... surprising, isn't it?CORRECTION!!Silver dollars minted up till 1935 were made of 90% silver and 10% copper. The silver gives them a melt value of around $16 as of mid-2010. However, different dates, conditions, and mint marks can have a (possibly) much higher value to a collector. You can enter the question "What is the value of a(n) US silver dollar?" in the question box at the top of the screen to get a specific value for each date and mint mark that you have; e.g. What is the value of an 1889 US silver dollar?
Sorry no US silver dollar coins dated 1826
No US silver dollars were made after 1935, look at the back of the coin for 'Half Dollar'.
The US never printed 100 dollar silver certificates with this date.
current silver troy ounce value