Entry-level Mint State 1893-S Morgan dollar (is still expensive)
- Published: Mar 28, 2014, 8 AM
Coins in the lower Mint State grades of Mint State 60 and MS-61 are often not unattractive, but generally have either a weak or uneven strike, many contact marks or dull luster.
For collectors of Morgan silver dollars, the 1893-S is a classic key issue with a low mintage of 100,000 examples. Nearly all of the surviving pieces are in well-circulated condition, making Mint State examples rare. This one, graded MS-61 by ANACS, brought $94,000 at Heritage's March 20, 2014, auction of the Bently Collection in San Francisco, and provided an opportunity to purchase an entry-level Mint State representative.
Although the piece was described as having slightly thin Mint luster, it was also “remarkably clean, especially for the grade.”
Generally, MS-61 coins have numerous surface imperfections, being at the low-end of the MS-60 to MS-70 Uncirculated grading scale.