1884-S $1 MS (PCGS# 7156)

2012 October 18-21 ANA US Coins Signature Auction - Dallas #1175

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    Heritage Auctions
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Lot Description
1884-S $1 MS63 PCGS. CAC. The San Francisco Mint Morgan dollars from the 1878-S through the 1882-S are often found in high grades and are usually marvels of the coiner's art when so encountered. Bold strikes, excellent planchets, and gorgeous cartwheel luster, with thick mint frost or prooflike reflectivity, are the order of the day for such coins in high grade. The 1883-S marks a transition point in the S-mint Morgans, a much more elusive coin in Mint State than the 1878-S through 1882-S issues. The 1883-S is common and inexpensive in low grades, and many examples survive that are "sliders," not-quite-Mint State coins that may have passed for "BU" in the old days. Bag marks are a problem, even among coins that truly are Mint State. MS63 is the highest Mint State grade seen with any regularity; anything finer is a rarity. A handful of examples of the 1883-S are known with Prooflike or Deep Mirror Prooflike surfaces, even though they are quite elusive. Contrasts between the 1883-S and the 1884-S Morgan dollars are even more stark. Mint State examples of the 1884-S are elusive even in the lower grades of MS60-MS62, and an MS63 specimen such as the present piece is worthy of special attention, even among series specialists. Prooflike specimens are extremely rare, Deep Mirror Prooflike pieces unknown. Q. David Bowers writes in his series Guide Book: {blockquote}"Some small amounts of lower Mint State grade 1884-S dollars remained in numismatic circles here and there, such as per the Dan Morafka offer in 1964 of a roll of 20 pieces for $450. In that year the Morgan dollar market was up for grabs, rumors proliferated, and no one knew whether a million 1884-S dollars had been paid out in the Treasury release since 1962, or just a handful had. The latter is probably closer to the truth, as I am not aware of any significant quantities. "In the years after 1964, as the framework of the Morgan dollar was built, it was realized that the 1884-S dollar was basically rare in Mint
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