MS-63 1893-S Morgan dollar with 'bold luster' goes for $282,000: Summer FUN convention analysis

Coin World breaks down notable items from Heritage's Summer FUN auctions
By , Coin World
Published : 07/29/15
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Florida United Numismatists hosts two major conventions each year. The group’s tent pole show is in early January, with a second show held during the summer. 

This year’s Summer FUN show, held July 9 to 11 in Orlando, marked the ninth installment, and its U.S. coin auctions by Heritage Auctions brought $8.3 million. 

Here is one of three lots that caught my eye from the more than 3,000 lots offered in the floor and online auction sessions:

The Coin

1893-S Morgan dollar, MS-63

The Price

$282,000

The Story

Leading bidding at Heritage’s Summer FUN auction was this Mint State 63 1893-S Morgan dollar in an older green label Professional Coin Grading Service holder. 

Most of the low mintage of 100,000 coins was released into circulation, and Mint State survivors are elusive. Allegedly many of the surviving Mint State population of this issues are from examples found in a bag of 1894-S Morgan dollars in Great Falls, Mont., in the 1960s. PCGS records just 10 MS-63 examples, although this number is likely inflated by resubmissions. The last two PCGS MS-63 examples at auction sold for $143,750 and $149,500 in 2009 and 2007, respectively.  

The offered example was noteworthy for its bold luster and, interestingly, its price was more than the $217,350 that a different example, graded Numismatic Guaranty Corp. MS-64, realized at Heritage’s Jan. 9, 2014, FUN auction. 

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