Two possibilities : 1) Somebody gold plated it, making it a novelty item. 2) Over time, natural toning has occured. When silver is exposed to air and/or other chemicals, it will oxidize, causing it to change color. Over time, it could become any color in the rainbow, starting from a light golden color, moving on to orange, red, green, blue, purple, and eventually to brown and finally to black. If the color is appealing, it may add value to your coin, however unappealing colors will detract from its value.
Morgan dollars are silver, not gold.
If you have a large coin (38 mm) it's not gold. Morgan dollars were made of 90% silver but people often gold-plated them for use in jewelry, pendants, etc. Unfortunately the plating destroys any collectible value but the underlying silver is still worth about $14 as of 05/2010. If you have a tiny gold $1 coin smaller than a dime, it's not a Morgan dollar - it's called an Indian Princess dollar and was designed by James Longacre, the same artist who created the Indian Head cent. Please see the Related Questions for more information.
== == There is NO gold in a Morgan dollar. They are all large coins, 38.1 mm in diameter, and made of 90% silver and 10% copper as were all silver coins up till 1964. If the coin you have in question is truly an 1890 gold dollar it will be smaller than a dime and the specie weight value will be around $50.00. The coin must be seen to be properly appraised. As noted above the Morgan Dollar is a Silver Coin and not a gold piece.
$775 to $785 in average circulated condition.
The coin has likely been plated with gold and adds nothing to the value, that now because of the plating is just for the silver in the coin. The plating actually destroyed the collectible value of the coin. It's only worth about $20.00 unless you find someone that wants it.
Morgan dollars are silver, not gold.
If you have a large coin (38 mm) it's not gold. Morgan dollars were made of 90% silver but people often gold-plated them for use in jewelry, pendants, etc. Unfortunately the plating destroys any collectible value but the underlying silver is still worth about $14 as of 05/2010. If you have a tiny gold $1 coin smaller than a dime, it's not a Morgan dollar - it's called an Indian Princess dollar and was designed by James Longacre, the same artist who created the Indian Head cent. Please see the Related Questions for more information.
== == There is NO gold in a Morgan dollar. They are all large coins, 38.1 mm in diameter, and made of 90% silver and 10% copper as were all silver coins up till 1964. If the coin you have in question is truly an 1890 gold dollar it will be smaller than a dime and the specie weight value will be around $50.00. The coin must be seen to be properly appraised. As noted above the Morgan Dollar is a Silver Coin and not a gold piece.
$775 to $785 in average circulated condition.
The coin has likely been plated with gold and adds nothing to the value, that now because of the plating is just for the silver in the coin. The plating actually destroyed the collectible value of the coin. It's only worth about $20.00 unless you find someone that wants it.
The Morgan Dollar is not gold. Since this is the most common date of all the Morgan Dollars, unless it is uncirculated it is worth only a little more than the value of the silver it contains (currently about $12). If it has been gold plated, a collector will only pay the silver value. try this site its useful http://gold-price-blog.info/
The last year for a gold US one dollar coin was 1889. If you have an 1896 Morgan silver dollar that has toned a gold hue, it needs to be seen for a accurate assessment. Take it to a coin dealer.
Assuming you mean a Morgan silver dollar and not a gold one dollar coin, if the coin is circulated and has no mintmarks, retail value is $26.00-$32.00 depending on how much wear the coin has. The 1883 Morgan is a common date.
If the coin is a real Morgan or Peace dollar. The value is just for the silver, about $20.00.
Any plated coins are only worth their melt value. Fortunately, as of early 2010 that comes to about $14 retail, or about $10 wholesale, for a 1921 Morgan dollar.
Some silver coins do tone to a gold color. This is a chemical reaction to the environment the coin has been exposed to.
Usually these have the dollar value on the eagle side, on the bottom, and it will say FIVE D or TEN D.