PCGS Auction Prices
1896-S Morgan Silver Dollar. MS-64+ (PCGS).
Original Lot at Stack's Bowers
||May 2019 Baltimore U.S. Coins Auction
||1896-S Morgan Silver Dollar. MS-64+ (PCGS).
Satiny and smooth surfaces exhibit a few speckles of copper-russet patina that are most prevalent at the borders. Sharply struck in virtually all areas, this is a lovely Choice Mint State example of a key date Morgan dollar issue. From a mintage of 5,000,000 pieces, a respectable total by Morgan dollar standards that might suggest that the 1896-S is a plentiful issue in Mint State. As with other series in U.S. numismatics (Saint-Gaudens double eagles come readily to mind in this context) mintages for Morgan dollars are often a poor indicator of the rarity or availability of Mint State examples in today's market. More telling in this regard is the distribution of the coins after they were struck. In the specific case of the 1896-S, it seems that a significant percentage of the mintage was placed into circulation within a few years of production for well worn examples in grades such as VG and Fine are readily obtainable. Bags of Mint State coins entered the numismatic market during the 1950s, but the quantity was so limited that by the 1960s most dealers only had a few pieces in inventory. Several hundred Uncirculated coins were in the famous LaVere Redfield hoard, the quality much lower than that offered here and generally in the MS-60 to MS-62 range. A superior example of a conditionally challenging issue, this impressive near-Gem comes highly recommended for inclusion in an advanced Morgan dollar set.
PCGS# 7244. NGC ID: 2564.
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