Choice AU 1893-S Morgan dollar: $38,400
- Published: Oct 25, 2018, 4 AM
Heritage’s Oct. 11 to 14 Signature Auction in Dallas offered an array of U.S. coins, including an 1893-S Morgan dollar in About Uncirculated 55 condition.
The 1893-S Morgan dollar is the regular issue key to the series. It comes from a low mintage of 100,000 coins and few have survived in Mint State grades, making choice About Uncirculated representatives coveted prizes.
This AU-55 example certified by Professional Coin Grading Service with a green Certified Acceptance Corp. sticker showed solid remaining luster on both sides, although some wear on the high points and in the fields kept the coin away from a “Borderline Uncirculated” or “slider” AU-58 grade. Heritage even saw “traces of prooflike reflectivity in selected areas,” while noting, “A few hints of golden-tan and lavender toning visit the lightly abraded surfaces.”
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Auction records show nice AU-50 examples trading at the $17,000 to $18,000 level, while five PCGS AU-53 coins have brought between $21,150 and $28,800 at auction in the past two years.
1893-S Morgan dollars graded AU-55 also see wide variances in price, with a different PCGS AU-55 piece, lacking a CAC sticker, selling for $32,900 at Legend Rare Coin Auctions’ July 26 sale in Las Vegas.
Since finer AU-58 1893-S dollars approach $80,000, someone saw solid value in paying $38,400 for this choice AU example at Heritage’s Premier Session auction during the firm's Oct. 11 to 14 Dallas auctions.
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