Market Report

Can You Say "Unbelievable?" Long Beach Show Soars as Type Coins Join the Market Leaders
Everyone agrees: Long Beach was a smashing success. Auctions and bourse floor buzz with activity, enthusiasm and stunning prices. Commemoratives remain extremely strong. PCGS Set Registry coins are burning hot. Kingswood "Gilmanton Sale" is this week. Click here to read more.

Set Registry Spotlight

California - Morgan Dollars Circulation Strikes 1878-1921 - The Number One Current Finest Set
This set, with a GPA of 65.77, also includes all but one of the optional varieties. A truly amazing collection of Morgan dollars, the set boasts many coins with none graded higher including the 1889-CC graded MS64DM and the only 1897-S graded MS67DM. The owner of this set should be very proud for an outstanding accomplishment. Click here to view this set.

THE PCGS SET REGISTRY HAS JUST HIT A MILESTONE! After only 13 months, PCGS is proud to announce there are now 2,000 sets registered. This achievement is due 100% to the enthusiasm, encouragement, feedback, friendly competition, and loyalty of the many collectors who have found a home on the PCGS Set Registry to display their amazing sets. Without the collectors and their desire to make the set registry the most exciting place on the Internet for coin collectors, the PCGS Set Registry would not be where it is today. Many thanks to everyone!

We are in the process of weighting sets (or re-weighting sets as the case may be), removing varieties from Basic Sets, and adding Sets with Varieties. We are posting these sets on the Set Registry News page for a week prior to actually making the changes. This is allowing registrants time to review the changes and submit feedback.

Get involved with other collectors who are currently participating in the Set Registry program or are just beginning. Click here to chat on the Set Registry Messageboard.

The PCGS Set RegistryTM is a work in progress. If you have any suggestions or comments please email [email protected].

Building a Morgan dollars set? Go to the Authorized Dealer link on PCGS and click on Dollars in Specialties. Looking for dealers with Internet sites? Click on the Internet sites link in services. Search for more than a 1,000 dealers in the PCGS Authorized Dealer listings.

The Expert's Corner

Morgan Silver Dollars 1878-1921
Morgan dollars have long captivated coin collectors; they have been and will likely continue to be the most popular of older U.S. coin series. A storied history, dozens of major varieties, and the relatively easy availability of Mint State issues have made the Morgan a true "dream series" for collectors, one worthy of close study. Click here to read more.

Collector's Survey

Morgan dollars are among the most popular coins in the world. They're big, beautiful (to most collectors), heavy, historical and lots more. If you could build a memorable set for yourself with some budget restrictions, which approach would you take?

  1. The finest mintmark set. I want only the finest, so I'd buy the finest graded Carson City dollar, the finest San Francisco dollar and so forth and exhibit a magnificent five-piece set.
  2. The neatest Carson City set possible. I love the Carson City issues, so let's put together a complete set with every coin being special -- maybe with prooflike surfaces, beautiful toning or something else that's extra-noteworthy.
  3. Deep Mirror Prooflikes! I can't build a complete set, of course, but I'd like to collect as many Gem quality dates as I can afford.
  4. New Orleans issues. This Mint made some beautiful coins, but fully struck and highly lustrous pieces are a real challenge for many dates, including some of the cheap ones such as 1883-O and 1898-O. I'd love to hand pick a memorable New Orleans set.
  5. A complete set in mixed grades. Completeness is important to me, so I'd buy the 1880-S in MS66 or MS67, the 1887-O in MS64, the 1893-CC in MS62 and the 1893-S in XF45 (or something like that -- you get the idea).

Click here to answer. Results will be posted in the next eCollector.

Results from last survey: It's a tie -- if collecting Mercury dimes on a budget, 28% would build a MS63 set from 1916-45 without full bands, and 28% would go for a set of Proofs (1936-42) in the highest grade. Click here for a complete breakdown.

What is a Morgan dollar? Find out in Lingo, the PCGS dictionary of numismatic definitions. Click here for Lingo.

Subscribe to the online PCGS Population Report for as little as $4.95 a month! Updated weekly, get the latest census data on all coins graded by PCGS. Click here to get a free peek at the population statistics for Morgan dollars.

Our Readers Ask

Question: One person told me that the weakly struck breast feathers on the eagle of the 1897-O Morgan dollar was due to "basining of the dies" (whatever that means) and another said that it was due to die wear. Even the experts don't seem to know the answer to this one.

Answer: The weak breast feathers on the 1897-O Morgan dollar -- not at all an uncommon occurrence among Morgan dollars of the New Orleans Mint of the 1890s -- were not due to worn dies or "basining" (a term for dressing or resurfacing the dies), but were caused by the dies being spaced too far apart. When the dies are spaced too far apart, the metal does not flow into the deepest recesses of the dies, which on the Morgan dollar consisted of the hair strands above the ear of Miss Liberty on the obverse, and on the reverse, the aforementioned breast feathers. The argument that such are struck from "worn" dies can be dismissed immediately, for the breast feathers are in the center of the coin where the lateral metal flow is the least, and dies would wear there last. However, I realize that "worn" dies is a very popular explanation, and one that has found its way into many catalogues and reference books.

-- Q. David Bowers, Bowers and Merena Galleries

Do you have a question you would like to ask our experts? Click here.
Or, visit the PCGS messageboards, the most active coin forums online.

Join the PCGS Collectors Club ...Enjoy the Benefits!
If you love collecting coins, the PCGS Collectors Club is for you. Silver Members enjoy direct access to PCGS's Online $30/30-Day (1970 and earlier) and $12/30-Day (Post-1970 coins) grading services. Silver Members must join online and membership is FREE! Gold and Platinum Members enjoy direct access to all PCGS grading services, complimentary PCGS gradings and a wealth of essential information. All PCGS Collectors Club Members enjoy access to all Collectors Universe auctions, eShops and messageboards and the eZines of their choice. Joining is quick and easy. Just click here or call PCGS Customer Service at 800-447-8848. Do it today!


Hurry! Bid Now!
Lyn Knight's Currency Auction Closes This Week

Session I closes Wednesday, February 27 at 7 p.m. PST. This session features Lyn Knight's first world paper money auction with over 1,140 lots of some of the best world bank notes ever sold at auction. Click here to bid now.
Session II closes Thursday, February 28 at 7 p.m. PST. This session offers hundreds of rare Small Size, Errors, Fractional, Confederate, Miscellaneous, Colonial Notes, and Continental Currency. Click here to bid now.
Session III closes Friday, March 1 at 7 p.m. PST. Highlighting this session is the unique Wyoming $5 National note. It is the only known surviving Territory of Wyoming bank note from the First National Bank of Douglas, Charter #3556, and only the second known serial number 1 "brown back" Wyoming territorial note. Session III also features a wide selection of Large Size currency and Nationals. Click here to bid now.

Kingswood's Gilmanton Sale Closes February 28!

The Kingswood Gilmanton Sale is online with over 1,200 coin and currency lots to choose from! The sale includes something for every numismatic interest and taste, from the beginning collector to the advanced specialist. Early silver dollars, commemorative gold rarities, colonials, bullion coins, mint errors and more -- each and every coin certified by the Professional Coin Grading Service (PCGS). The auction closes Thursday, February 28th at 7pm PST. Click here to bid now.

NEXT WEEK! See PCGS in Jacksonville, Florida!

ANA 2002 National Money Show
Prime Osborn Convention Center
100 Water Street
Jacksonville, FL
March 7 - 9, 2002

Courier Service: PCGS will be offering Courier Service on Wednesday and Thursday for delivery on Friday and Saturday at the $65 and $100 per coin levels.
- Special Show Service -- $65 per coin valued at $1,500 or less
- Standard Show Service -- $100 per coin

Also, PCGS will be accepting coins for all service levels! Have your coins graded by PCGS and save on one-way postage! Submissions will be accepted from Wednesday, March 6*, through 4 p.m. on Saturday, March 9. Your PCGS-graded coins will be mailed to you following the show.

*Wednesday, March 6 is Dealer Set Up Day. Check with the show promoter for access to the facility during Dealer Set Up Day.

Show Hours are as follows:
Dealer schedule Public schedule
Wed. (Set up) 3 p.m. - 7 p.m. 
Thur. 8 a.m. - 6:30 p.m.Thur. 10 a.m. - 6:30 p.m.
Fri. 9 a.m. - 6:30 p.m.Fri. 10 a.m. - 6:30 p.m.
Sat. 9 a.m. - 6:30 p.m.Sat. 10 a.m. - 6:30 p.m.

For more information about PCGS grading at the show, call 800-447-8848.
For more information about the ANA 2002 National Money Show, call 719-632-2646 or go to For directions to the show, click here.


Suburban Washington/Baltimore Coin & Currency Convention
Baltimore Convention Center
1 W. Pratt Street, Hall E
Baltimore, MD
March 21 - 23, 2002

On-Site Grading: Take advantage of PCGS' Show Service!
- Special Show Service -- $65 per coin valued at $1,500 or less
- Standard Show Service -- $100 per coin
Coins may be submitted to all other PCGS grading levels at the show.

For more information about PCGS grading at the show, call 800-447-8848.
For more information about the Suburban Washington/Baltimore Coin & Currency Convention, call 301-424-1876.

© 1999 - 2004 Collectors Universe Inc. All Rights Reserved.