US Coins

Market Analysis: All colors of the rainbow on 1896 Morgan dollar

This “monster” toned 1896 Morgan dollar graded MS-66+ by PCGS with a green CAC sticker sold for a whopping $18,212.50 in Las Vegas as part of the PCGS Members Only Show auction.

All images courtesy of Legend Rare Coin Auctions

Legend is well known for offering beautifully toned Morgan silver dollars like this 1896 Morgan dollar graded Professional Coin Grading Service Mint State 66+ with a green Certified Acceptance Corp. sticker from the Roadrunner Collection.

Well-suited to the collection name, the catalogue description is rich in Looney Tunes lingo and notes, “Killer original cascading bag toning (whew) consists of original colors of pearl green/blue/violet/amber (out of this world colors) cover 85 percent of the obverse. A sky blue kicker does the last 15 percent. We rank all the colors a full 9+ on our 1–10 color scale (10 is the best). For sure this coin gets a Beep Beep.”

PCGS has graded 424 1896 Morgan dollars in this grade. Another MS-66+ example with a green CAC sticker but less vibrant toning, suggestive of long-term storage against the end of a paper bank roll, sold for $587.50 as the following lot.

These “monster” toned Morgan dollars remain in hot demand from bidders, and the coin pictured here blasted past its $2,500 to $3,000 estimate to $18,212.50. To put that price into comparison, PCGS has graded 38 examples in MS-67+, and one of the finest of these sold for $4,800 earlier this year.

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