1884-S $1 MS (PCGS# 7156)

2010 April-May Milwaukee, WI CSNS US Coin Auction #1139

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    2168
  • Grade:
    MS63
  • Price:
    $40,250.00
Lot Description
1884-S $1 MS63 PCGS. CAC. A large mintage of 3.2 million Morgan dollars was achieved by the San Francisco Mint in 1884. Most examples were released into circulation in the 19th century, and the date is readily available in circulated grades today. Of the coins retained in Mint storage vaults, an unknown number were melted under the provisions of the Pittman Act in 1918. Several bags were distributed by the San Francisco Mint in 1926, and small quantities continued to be released to casinos and other users until the supply was exhausted in the late 1950s. The date was not represented in large quantities in any of the Treasury releases of the 1960s. In today's market, the 1884-S is considered one of the most difficult S-mint issues of the series to locate in Mint State grades. Of course, no proofs were produced at this facility in 1884, and the issue is one of the rarest Morgan dollars in Prooflike grades. No coins have been certified in DMPL as of this writing (3/10). Still an intriguing citation exists from lot 225 of the James B. Wilson Collection (Thomas Elder, 10/1908), "1884-S. Proof." If such a coin appeared today as a DMPL specimen, it would be a landmark event for Morgan dollar specialists. The present coin is a pleasing Select specimen, with bright, satiny, mostly brilliant surfaces, with just the slightest overlay of golden color. The fields are faintly reflective, but not quite prooflike. Striking details are full throughout. A few luster grazes on Liberty's cheek, and a barely discernible milling mark in the left obverse field out from the nose explains the grade. The outstanding eye appeal is attested by the CAC sticker. Pedigree markers include a few planchet flakes and grease stains in the center of the reverse. Population: 38 in 63, 16 finer (3/10).
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