As a general rule collectors of Morgan silver dollars fall into two
groups: those that like their coins colorful and toned, and those that
prefer their dollars brilliant and frosty. Heritage’s recent April 28
afternoon auction session at the Central States Numismatic Society
convention in metropolitan Chicago included several standout dollars
that were recognized by bidders at being premium for the grade. When
it comes to Morgan dollars that are at the top of their grade —
especially when numerically finer examples are unknown — collectors
are willing to open their checkbook to pay exceptionally strong prices
in their quest for the best.
Here is one of three examples of premium Morgan dollars from the
CSNS convention's Heritage sale that prove that point:
1897 Morgan dollar, MS-67+, green CAC sticker
Despite its relatively low mintage of 2,822,000, the 1897 Morgan
dollar is today considered a common issue in most grades, but that
wasn’t always the case. In the early 20th century it was a rarity as
most examples of this date remained hidden away in vaults. By the
1950s it was considered a common issue by both collectors and dealers,
and bags continued to be released through the 1970s.
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It becomes scarce in MS-66 and the population drops substantially in
MS-67, with PCGS recording just 37 submissions in this grade, with
only two graded MS-67+ and none finer. This MS-67+ 1897 Morgan dollar
has a green CAC sticker and sold for $23,500 on April 28.
We have plenty on the off-metal 1943 Lincoln
Cents and on the origin of Q. David Bowers’ column:
A reader wonders how much his 1943 cent struck on a dime planchet
is worth, while a long-time numismatist wonders why the origins of
two new bronze 1943 cents were revealed.
Two days later Heritage sold a similarly brilliant MS-67 example,
with CAC sticker, of this issue for $9,400 and a PCGS MS-67 dollar
that lacked a CAC sticker for $4,700.