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:
1881-O Morgan dollar, MS-66, CAC sticker
1881-O Morgan dollars are very common in nearly all grades, with a
mintage approaching 6 million and a high survival rate thanks to many
being preserved in bags that were released by the Treasury Department
through the 1960s. However, the population thins in Mint State 65 and
finer, with just 37 submissions at Professional Coin Grading Service
in MS-66 and just three graded MS-66+. No MS-67 examples of the 1881-O
Morgan dollar been certified at either PCGS or Numismatic Guaranty Corp.
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At the CSNS show auction Heritage offered a PCGS MS-66 example with
a green Certified Acceptance Corp. sticker that sold for a hefty
$16,450, roughly double what a toned example brought earlier in April
at a different Heritage auction.
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.
The subject dollar came from The Siegel Collection, which was
assembled over three decades by the chairman of a manufacturing
company who decided to sell his collection of silver dollars because
he wanted to see the collection sold during his lifetime and did not
want to burden his heirs.