1903 US Coins: Values & Mintages

How many coins were made in 1903

Counting the circulation issues on this page, US mints struck 172,240,564 coins dated 1903 across 14 issues. That is close to the 1902 total of 192,344,309. In 1904 the figure fell to 123,650,990.

By mint: Philadelphia 149,199,492 (87%, down from 165,349,027), New Orleans 18,230,000 (11%, down from 20,410,000) and San Francisco 4,811,072 (2.8%, down from 6,585,282).

Those coins held about 14,894,027 troy ounces of pure silver.

1903 coins by denomination

Cents: 85,092,703 struck in 1 circulation issue of the Indian Head Cent, down 2.6% on 1902.

Nickels: 28,006,725 struck in 1 circulation issue of the Liberty Head "V" Nickel, down 11% on 1902.

Dimes: 28,293,300 struck in 3 circulation issues of the Barber Dime, up 1.2% on 1902. The scarcest is the 1903-S (613,300) and the most plentiful the 1903 (19,500,000).

Quarters: 14,205,309 struck in 3 circulation issues of the Barber Quarter, down 23% on 1902. The scarcest is the 1903-S (1,036,000) and the most plentiful the 1903 (9,669,309).

Half Dollars: 6,299,527 struck in 3 circulation issues of the Barber Half Dollar, down 29% on 1902. The scarcest is the 1903-S (1,920,772) and the most plentiful the 1903 (2,278,755).

Dollar Coins: 10,343,000 struck in 3 circulation issues of the Morgan Silver Dollar, down 43% on 1902. The scarcest is the 1903-S (1,241,000) and the most plentiful the 1903 (4,652,000).

Every 1903 circulation issue at a glance

• 1903-S Barber Dime: 613,300 struck, 7th lowest of 75 in the series, down from 2,070,000 in 1902.
• 1903-S Barber Quarter: 1,036,000 struck, 16th lowest of 74 in the series, down from 1,524,612 in 1902.
• 1903-S Morgan Silver Dollar: 1,241,000 struck, 23rd lowest of 96 in the series, similar to 1902.
• 1903-S Barber Half Dollar: 1,920,772 struck, more than 63% of the series' 73 issues, up from 1,460,670 in 1902.
• 1903-O Barber Half Dollar: 2,100,000 struck, more than 65% of the series' 73 issues, similar to 1902.
• 1903 Barber Half Dollar: 2,278,755 struck, more than 68% of the series' 73 issues, down from 4,922,777 in 1902.
• 1903-O Barber Quarter: 3,500,000 struck, more than 63% of the series' 74 issues, down from 4,748,000 in 1902.
• 1903-O Morgan Silver Dollar: 4,450,000 struck, 46th lowest of 96 in the series, down from 8,636,000 in 1902.
• 1903 Morgan Silver Dollar: 4,652,000 struck, 47th lowest of 96 in the series, down from 7,994,000 in 1902.
• 1903-O Barber Dime: 8,180,000 struck, more than 69% of the series' 75 issues, up from 4,500,000 in 1902.
• 1903 Barber Quarter: 9,669,309 struck, more than 95% of the series' 74 issues, down from 12,196,967 in 1902.
• 1903 Barber Dime: 19,500,000 struck, more than 93% of the series' 75 issues, similar to 1902.

The 2 more plentiful issues are listed in the tables below.

Indian Head Cent: Record output and the San Francisco keys

Cent production soared in the new century, from 66 million in 1900 to a series high of 108 million in 1907, driven by streetcar fares, penny candy and new vending machines. For the first time the cent was struck outside Philadelphia: San Francisco made 1.1 million cents in 1908, with an S mint mark below the wreath on the reverse.

The 1909-S, with only 309,000 coined before the Lincoln cent arrived in August 1909, is the second key of the series after the 1877. Both S dates have been faked by adding a mint mark to a Philadelphia coin, so experts check the shape and position of the S. Philadelphia made 14.4 million cents in 1909 before the change. Survivors from this decade are plentiful. Many uncirculated coins show red and brown or fully brown color.

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Liberty Head "V" Nickel: The nickel-in-the-slot era

Demand for nickels grew rapidly in the 1900s with streetcar fares, pay telephones and coin operated machines that took five cents. Production passed 26 million in 1900, reached 38.6 million in 1906 and topped 39 million in 1907 and 1911, the highest figure of the series. Nickelodeon theaters, named after their five-cent admission, spread across the country in these years.

Because so many were made, coins from this period are the easiest Liberty Head nickels to find in every grade. Strikes are usually better than in the 1880s. Many show full corn ears and a clear LIBERTY. Uncirculated examples were saved in larger numbers as coin collecting grew, though original luster without spots is less common. These dates are a practical place to start a set or to choose a single type coin.

These are the dates that turn up most often in old jars and family collections. Yearly mintages ran from about 11 million to nearly 40 million, so worn examples are easy to find and carry only a small premium. The coins worth setting aside are the ones with a full, readable LIBERTY and original surfaces, plus anything that looks uncirculated.

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Barber Quarter: Denver joins in 1906

Steady demand kept Philadelphia mintages between about 9.6 and 12.2 million from 1902 to 1904, while New Orleans and San Francisco struck from about 1 to 4.7 million each. San Francisco made no quarters in 1904 or 1906. The 1905-O (1,230,000) and the 1908-S (784,000) are the scarcer coins of the period.

The new Denver Mint struck its first quarters in 1906, a total of 3,280,000 with a D below the eagle. In 1907 and 1908 all four mints struck quarters at once, a first for the denomination. Coins of these years are among the most available Barber quarters in circulated grades. Uncirculated pieces from New Orleans often show soft strikes at the eagle's claws and the top of the shield, so sharpness varies more than the mintages suggest.

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Barber Half Dollar: Key dates from New Orleans and San Francisco

The 1897-O (632,000) and 1897-S (933,900) are the keys of the series and are scarce in every grade. Later scarce dates include the 1901-S (847,044), the 1904-S (553,038) and the 1905-O (505,000). Philadelphia's own 1905 mintage of 662,727 was also low, though Philadelphia struck far more in most other years of the period.

Philadelphia mintages otherwise rose, reaching 5,538,846 in 1899, so Philadelphia halves of the late 1890s are common in worn grades. Because the key dates are branch mint coins, altered or added mint marks are a known problem. Check the O or S below the eagle under magnification. When judging grade, look for a complete LIBERTY on the headband and clear feathers on the eagle's wings. Many key date survivors are worn to Good, with the rims touching the legends.

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Morgan Silver Dollar: Low Philadelphia mintages and the Treasury releases

With the Sherman Act repealed in 1893, the Mint coined silver it had already bought. Philadelphia struck only 110,000 in 1894. For 1895 only about 880 proofs are confirmed, since the business strikes reported for that year have never been found. That makes the 1895 the most famous Morgan date. Output rose again from 1896, with New Orleans passing 12 million in 1899, 1900 and 1901.

New Orleans coins such as the 1898-O, 1903-O and 1904-O were long thought rare until Treasury vault releases in 1962 to 1964 put sealed bags into collectors' hands. Philadelphia's 1899 run of 330,000 and the 1895-O and 1895-S remain scarce. The 1901 from Philadelphia is common worn but rare uncirculated. Coinage ended in 1904 when the bullion bought under the Sherman Act ran out.

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Barber Dime: Big Philadelphia runs and two San Francisco semi-keys

Prosperity returned at the end of the decade. Philadelphia struck between 16,320,000 and 21,380,000 dimes every year from 1898 to 1903 and New Orleans reached 8,180,000 in 1903. Across the six years the three mints made 150,614,257 Barber dimes, so most dates from this stretch are easy to find in worn condition and make good, inexpensive fillers for an album. Proofs were struck every year in small numbers, between 735 and 912 a year in this stretch. They are listed on their own pages.

San Francisco is the exception. Its output swung from 5,168,270 in 1900 down to 593,022 in 1901 and 613,300 in 1903. Those two coins are the semi-keys of the period. The 1901-S was the first twentieth century Barber dime of real scarcity. The 1903-S is unusually scarce for a coin struck so late. Both are hard to find in uncirculated condition and carry a collector premium in any grade.

New Orleans dimes of these years, from 2,010,000 in 1900 up to 8,180,000 in 1903, tend to be softly struck, with weak detail in the wreath and on Liberty's hair. Don't mistake a weak strike for wear. Judge the grade from LIBERTY on the headband and the high points of the wreath. Remember that many coins of the era survive only in low grades because they circulated for decades before anyone thought to save them.

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