1904 US Coins: Values & Mintages

US coinage in 1904

Morgan dollar production stopped after 1904 because the Treasury's supply of silver bullion bought under earlier laws was used up.

How many coins were made in 1904

Counting the circulation issues on this page, US mints struck 123,650,990 coins dated 1904 across 12 issues. That is 28% fewer than in 1903 (172,240,564). In 1905 the figure rose to 147,094,359.

It was the smallest year since 1898.

By mint: Philadelphia 112,700,352 (91%, down from 149,199,492), New Orleans 7,293,600 (5.9%, down from 18,230,000) and San Francisco 3,657,038 (3%, down from 4,811,072).

Those coins held about 11,794,553 troy ounces of pure silver.

1904 coins by denomination

Cents: 61,326,198 struck in 1 circulation issue of the Indian Head Cent, down 28% on 1903.

Nickels: 21,404,984 struck in 1 circulation issue of the Liberty Head "V" Nickel, down 24% on 1903.

Dimes: 15,400,357 struck in 2 circulation issues of the Barber Dime, down 46% on 1903. The scarcest is the 1904-S (800,000) and the most plentiful the 1904 (14,600,357).

Quarters: 12,044,143 struck in 2 circulation issues of the Barber Quarter, down 15% on 1903. The scarcest is the 1904-O (2,456,000) and the most plentiful the 1904 (9,588,143).

Half Dollars: 4,663,308 struck in 3 circulation issues of the Barber Half Dollar, down 26% on 1903. The scarcest is the 1904-S (553,038) and the most plentiful the 1904 (2,992,670).

Dollar Coins: 8,812,000 struck in 3 circulation issues of the Morgan Silver Dollar, down 15% on 1903. The scarcest is the 1904-S (2,304,000) and the most plentiful the 1904-O (3,720,000).

Every 1904 circulation issue at a glance

• 1904-S Barber Half Dollar: 553,038 struck, 8th lowest of 73 in the series, down from 1,920,772 in 1903.
• 1904-S Barber Dime: 800,000 struck, 11th lowest of 75 in the series, up from 613,300 in 1903.
• 1904-O Barber Half Dollar: 1,117,600 struck, 24th lowest of 73 in the series, down from 2,100,000 in 1903.
• 1904-S Morgan Silver Dollar: 2,304,000 struck, 33rd lowest of 96 in the series, up from 1,241,000 in 1903.
• 1904-O Barber Quarter: 2,456,000 struck, 34th lowest of 74 in the series, down from 3,500,000 in 1903.
• 1904 Morgan Silver Dollar: 2,788,000 struck, 37th lowest of 96 in the series, down from 4,652,000 in 1903.
• 1904 Barber Half Dollar: 2,992,670 struck, more than 86% of the series' 73 issues, up from 2,278,755 in 1903.
• 1904-O Morgan Silver Dollar: 3,720,000 struck, 42nd lowest of 96 in the series, similar to 1903.
• 1904 Barber Quarter: 9,588,143 struck, more than 93% of the series' 74 issues, similar to 1903.
• 1904 Barber Dime: 14,600,357 struck, more than 82% of the series' 75 issues, down from 19,500,000 in 1903.
• 1904 Liberty Head "V" Nickel: 21,404,984 struck, more than 64% of the series' 34 issues, down from 28,006,725 in 1903.
• 1904 Indian Head Cent: 61,326,198 struck, more than 87% of the series' 54 issues, down from 85,092,703 in 1903.

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: Denver arrives and four mints at once

New Orleans struck no dimes in 1904, leaving Philadelphia (14,600,357) and San Francisco (800,000) to cover the year. The 1904-S is the lowest mintage of the period and a better date in every grade. New Orleans returned in 1905 with 3,400,000, a run that includes a variety with an unusually small mint mark, the 1905-O Micro O.

The Denver Mint struck its first dimes in 1906, a total of 4,060,000 with a D below the wreath. From 1906 through 1909 all four mints made dimes every year, the only stretch of the series when that happened. Total output for 1904 to 1908 came to 127,607,020 coins, led by Philadelphia's 22,220,000 in 1907. The 1908-O, at 1,789,000, is the scarcest coin dated 1906 to 1908.

Nearly all survivors from these years are circulated and an uncirculated 1904-S or 1908-O carries a collector premium. When sorting, read the mint mark carefully: with four mints in operation, a worn D and a worn O can look alike and an S that has filled with dirt can be mistaken for either. For the 1905-O, compare the O with a normal New Orleans mint mark from another year; the Micro O is noticeably smaller. A soft strike or a dark, filled mint mark is not a variety, so look for a clear difference in size.

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