1896-S $1 MS (PCGS# 7244)

PN Silver Dollar Session

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    Heritage Auctions
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Lot Description
1896-S $1 MS66 PCGS. It is generally thought that most of the 5 million piece 1896-S dollar circulation strike mintage went to the melting pots, particularly under terms of the 1918 Pittman Act. A large number of unmelted specimens apparently circulated. In this regard, David Bowers, in his Silver Dollars and Trade Dollars of the United States, says: "Bags of 1896-S Uncirculated dollars were paid out from the San Francisco Mint during the very early 1950s, when scant attention was paid to them as they had little value at the time." 1896-S dollars are scarce in circulated grades and in the lower levels of Mint State through near-Gem. The PCGS/NGC figures reveal a precipitous drop at the Gem level of preservation--from nearly 600 MS64 coins to 75 MS65 pieces. Five specimens rate a Premium Gem grade, two MS67, and one finer. Moreover, the 1896 is usually found with an average or below average strike. Also, its surfaces are usually somewhat subdued (Bowers, A Guide Book of Morgan Silver Dollars). The Premium Gem offered here exhibits a better-than-average strike. The hair above Liberty's ear is almost completely delineated, as are the eagle's breast feathers and the leaf ribbing. Both sides display powerful luster, along with freckles of gold-brown patina, more so on the reverse. Close examination reveals no mentionable contact marks. A fine crack runs from below the second U in UNUM to the cap, and three or four thin peripheral cracks are visible on the reverse. Population: 1 in 66, 2 finer (11/08). From The Arno Collection. See: Video Lot Description
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