Market Analysis: All colors of the rainbow on 1896 Morgan dollar
- Published: Aug 10, 2020, 9 AM
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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