US Coins

Market Analysis: 1893-S Morgan dollar a prize in Mint State

Morgan dollars ruled at Heritage’s September Long Beach Expo auctions in California. Two top Morgan dollars from the Shucart Family Collection each sold for $204,000: a reflective 1889-CC Morgan dollar, graded Mint State 64 Deep Mirror Prooflike by Professional Coin Grading Service and bearing a green Certified Acceptance Corp. sticker, and a lustrous 1893-S dollar graded MS-61 by PCGS. 

The San Francisco Mint issue is well-known as the key to the series with a low mintage of 100,000 and a very low survival rate in Mint State grades. Any Uncirculated 1893-S Morgan dollar is a prize since nearly all were released into circulation and no significant hoards were saved. 

Heritage calls the offered coin outstanding for the grade, observing, “A tiny mark near Liberty’s ear lobe is a reliable pedigree marker and is also the only singular abrasion of note.” It sold for $204,000 at Heritage’s January 2018 Florida United Numismatists auction, and in Long Beach it brought the same amount again. 

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