US Coins

Market Analysis: 'Masterpiece' MS-66 1887 Morgan dollar sells for $32,900

Deep, stained-glass-like colors are seen on this 1887 Morgan dollar graded MS-66 with a green CAC sticker that brought $32,900 on Oct. 8, a price more than 100 times what a nice MS-66 example might be expected to bring.

Images by Legend Rare Coin Auctions.

Legend Rare Coin Auctions has long-offered spectacularly toned Morgan dollars in its Regency sales, and on Oct. 8 it sold an 1887 dollar graded Professional Coin Grading Service Mint State 66 with a green Certified Acceptance Corp. sticker for $32,900. The issue is common in nearly all grades with a high mintage of 20,290,000, and even choice MS-66 examples rarely sell for more than $300 at auction.

The offered example came from the Roadrunner Collection. Legend wrote that its eye appeal was jaw dropping, explaining, “Super clean surfaces have no problems and enhance the neon-like colors. A strong luster also makes this coin to die for. The obverse has mixed shades of totally original blue/green/violet/amber colors.”

Estimated at $3,000 to $3,500, Legend rated it a 10+ on its 1 to 10 color scale based on the obverse color, since the reverse is untoned. Bidders agreed with Legend’s assessment that it was a “masterpiece.”

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