The height of summertime is typically slow for the rare coin market as dealers take a well-deserved break in July and prepare for the American Numismatic Association World’s Fair of Money in early August.

Online auctions keep things moving, however, and with weekly auctions by GreatCollections, along with online auction offerings from several firms including Stack’s Bowers Galleries, Legend Rare Coin Galleries, David Lawrence and Heritage, collectors are never too far from buying opportunities.

Here is one of three coins sold in recent online auctions that we're profiling in this week's Market Analysis:

The Lot: 

1882-O Morgan dollar, MS-66+, Professional Coin Grading Service

The Price:

$9,900

The Story:

An 1882-O Morgan dollar is widely available in grades up to and including Mint State 64. In MS-65 it is tough, and any finer it is rare. A typical example shows a relatively weak strike. At a July 19 online auction by Legend Rare Coin Auctions, one graded MS-66+ by Professional Coin Grading Service sold for a robust $9,900.

It was noteworthy for its color, with Legend observing “rich bag toning on the obverse,” and adding, “indeed we see the canvas pattern on the cheek and on the field. Pastel hues in blue, gold, orange, and peach are accentuated by a bold luster. The reverse is also toned with an amber-orange-gold dominating.” As these dollars were often stored in canvas bags, evidence of the canvas weave can be evidence of original toning.

What is the value of your Morgan dollar? Coin Values tells you.

PCGS has graded just 53 examples MS-66 and four MS-66+. Its population report notes just six finer: four in MS-67, one in MS-67+ and an astounding MS-68+ example that Legend sold last year at auction for $108,687.50.

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Keep reading this summer online auction Market Analysis:

• Proof Barber coins, including this 1900 half dollar, trading at relatively low prices
• Ugly or not, recently sold Proof Cameo ‘V-nickel’ among finest known