1886-O $1 MS (PCGS# 7168)

PN Silver Dollar Session

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
  • Grade:
  • Price:
Lot Description
1886-O $1 MS65 PCGS. As written for this coin's catalog description for the April 1997 edition of the auction of the Louis E. Eliasberg, Sr. Collection: "The 1886-O dollar is a very curious issue, inasmuch as the mintage is especially generous, worn coins are plentiful, but the high-grade Mint State coins are rarities. When seen in Mint State, the 1886-O is apt to be in lower ranges such as MS-60 to MS-62. Coins at the MS-64 level are indeed rare." This is a point that deserves further attention. A handful of other Morgan dollar issues, among them the 1884-S and 1895-O, exhibit the same duality of relatively available circulated coins and nearly inaccessible Mint State pieces. What do these issues have in common? Certainly not mintage; the coins in this group range from the 1895-O, with less than half a million pieces, to the 1886-O, which has a mintage of over 10.7 million coins. What they do have in common, however, is a substantial presence in the XF to AU designations, which indicate that those coins which were released circulated only briefly prior to their recovery from circulation; this is also indicative, however, of a lack of savings in Mint State. A contributing factor and corollary is that virtually all of the Morgan dollar issues that are condition rarities in Mint State are branch issues; only the 1901 is an exception to this trend. Another common factor is a lack of representation in the game-changing Treasury releases of the 1960s. A Paul M. Green article printed in the April 15, 2008 edition of Numismatic News includes several insightful comments about the 1886-O Morgan dollar, among them: "It's pretty hard to lose 10 million silver dollars, but Bowers and others have tried to trace the release of every Morgan dollar but the 1886-O is barely evident in the reports, with just a small trickle of examples being reported as opposed to the usual bags and that continues all the way through the Treasury release of the 1960s." The most easily reached conclus
View the Original Auction