Beautifully toned coins can bring wild prices compared with similarly graded brilliant or less-wildly toned examples. GreatCollections saw 16 bidders compete for a 1921-S Morgan dollar graded Mint State 63 by Professional Coin Grading Service at an Oct. 16, 2022, auction.

The Morgan dollar series was produced between 1878 and 1904, and the design was revived in 1921 until it was replaced by the Peace dollar late that year.

The 1921-S Morgan dollar is a common issue in MS-63, with typical examples selling for $175 or so, but the offered coin had balanced and rich toning rarely found on this San Francisco Mint issue, as pastel yellow centers merged with light blue and purple tones, framed by deeper jewel tones at the peripheries. The “bullseye” toning was unusual and coveted, with bidders placing 110 bids to the final price realized of $5,400.

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