What is the value of an 1878 Morgan dollar?

Assuming the coin is circulated and has no mintmark, the 1878 Morgan is a common coin, but this is the first year of issue and 4 varieties exist. For an accurate assessment of value the coin needs to be seen and graded. Most coins show a lot of wear. In general retail values of low grade coins for the most common type (7-Tail Feathers) are $32.00-$39.00, better grade are $40.00-$43.00 and coins showing almost no wear run from $45.00-$49.00. Values are a market average and only for coins in collectible condition, coins that are bent, corroded, scratched, used as jewelery or have been cleaned have far less value if any to a collector or dealer.