The condition of Morgan dollars directly affects its worth, so keep that in mind when adding to your collection. In almost all cases a coin which appears to be in excellent condition will be significantly more collectable than one which is damaged. As a general rule, older coins are more valuable; but it isn't always the case. The value of a coin depends on many factors besides just how old and how rare it may be. Demand is a key factor in the market value of any collectible coin.