US Coins

This 1893-O Morgan dollar has aged well

By Steve Roach

Published: Nov 6, 2017, 10 AM

Perhaps the finest-known 1893-O Morgan dollar, graded MS-66 Prooflike by PCGS and sporting a green CAC sticker, sold for $411,250 at Legend’s Oct. 26 Regency XXIII auction in Philadelphia.

Original images courtesy of Legend Rare Coin Auctions.

The 1893-O Morgan dollar was one of many high-grade coins in the series offered at the Philadelphia auction by Legend.

Image courtesy of Legend Rare Coin Auctions.

A $470,000 1892-S Morgan silver dollar graded Mint State 67 by Professional Coin Grading Service with a green Certified Acceptance Corp. sticker topped bidding at Legend Rare Coin Auctions’ Regency Auction XXIII on Oct. 26. The expected star of the official auctions of the PCGS Members Only show, an 1893-S Morgan dollar graded PCGS MS-67 with a green CAC sticker, failed to sell at an estimate of $1.3 million to $1.5 million, but there were plenty of other highlights to keep people’s attention. Legend’s next Regency Auction, number XXIV, is set for Las Vegas on December 14.

We present here one of the high-profile lots that found new homes at the Legend Rare Coin Auctions’ Regency Auction XXIII:

The Lot:

1893-O Morgan dollar, MS-66 Prooflike, CAC sticker

The Price:

$411,250

The Story:

Unlike the famed 1893-S Morgan dollar, the 1893-O coin is not among rare Morgan dollars at the forefront of collectors’ minds. Yet in high grades, the New Orleans Mint issue is a legendary rarity in the series.

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Legend offered an 1893-O Morgan dollar graded MS-66 Prooflike by PCGS and bearing a CAC sticker that sold comfortably within its $350,000 to $450,000 estimate, realizing $411,250. Previously owned by Baltimore collector Louis Eliasberg Sr., its long provenance traces back to 1894 when it was purchased by J.M. Clapp from Colvin Randall (along with the sale’s 1892-S dollar graded PCGS MS-67).

Brockage or contact mark? Mike Diamond explains. Also in our Nov. 20 issue, a reader found a fascinating Barber dime that’s over a century old; John Wexler profiled what makes it different.

When Legend offered this 1893-O dollar in 2015 — where it realized $458,250 — the lot description noted, “This is yet another special former Eliasberg coin that makes you wonder if it’s really a Specimen or possibly a Proof.” It previously sold at Bowers & Merena’s 1997 auction of the Eliasberg Collection for $176,000, and it brought $166,750 at a 2004 Heritage auction. Legend called the beautifully toned dollar “Monumental” and bidders agreed.