The 1878 8 Tail Feathers dollar is the first coin of the Morgan Dollar series. There were about 750,000 regular struck coins and 500 proof coins made in this year. The coin ranges in value from around $100 in MS-60 to $45,000 in MS-67 condition and then about $10,000 as PF-65. The coin has many different die varieties to it, including VAM-5, 9, 11, 15,and 17.