US Coins

Market Analysis: 1893-S Morgan 'slider' silver dollar

An AU-58 1893-S Morgan silver dollar could be described as a “slider” or “borderline Uncirculated” and realized $78,000 on April 5.

All images courtesy of Stack’s Bowers Galleries.

Earlier this year I wrote about “Sliders,” illustrated with some choice About Uncirculated Barber half dollars that had sold, and a reader replied that he thought the term referred to a low-end coin that was worn smooth.

Generally, a slider coin is also called “commercial Uncirculated” and typically shows a bit of rub at the high points, but has luster that lets it pass, at a glance, as Mint State (though other uses of the term might exist). It’s not a technical grade, but rather describes a nice AU coin that can pass for Mint State when placed alongside lower-end Uncirculated coins in a set.

An example of a great one is an 1893-S Morgan dollar graded AU-58 by Numismatic Guaranty Co. that realized $78,000 at Stack’s Bowers’ April 5 Rarities Night sale. It is the key date in the series and this example is “just a whisper away from Mint State preservation,” with near full luster, frosty texture, a bold strike and terrific eye appeal. That cataloger concluded, “This appealing Choice About Uncirculated survivor will certainly have no difficulty finding its way into an advanced collection.”

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