1893-S $1 MS (PCGS# 7226)

Morris Silverman

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    4236
  • Grade:
    MS64
  • Price:
    $120,750.00
Lot Description
1893-S $1 MS64 NGC. Among regular issue Morgan Dollars, the 1893-S is the undisputed premier rarity in the series. Only 100,000 pieces were struck, a tiny figure by Morgan standards. This lowering of the number of pieces produced this year was caused by three factors: the repeal of the Sherman Act in 1893, the election of Grover Cleveland, and the financial panic caused by the hoarding of gold during this period. All these events marked a shift in government policy toward the minting of silver dollars. The vast majority of 1893-S Dollars were either extensively circulated or later melted. Today, even XF and AU examples can be very difficult and costly to locate and the occasional appearance of a Mint State coin always excites Dollar specialists. According to our records, this coin has not been offered at public auction in the past ten years. This is an exceptionally pleasing and problem-free example of this key date. There are no reportable abrasions on either side, just a slight luster graze at the back of Liberty's jawline. Fully struck, the centers are brilliant. There is a thin crescent of rainbow toning at the top of the obverse with a few patches of golden-brown patina around the reverse. Population: 7 in 64, 2 finer (1/02).
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