1897-O $1 MS (PCGS# 7248)

Signature Sale #370

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    61219
  • Grade:
    MS66
  • Price:
    $43,125.00
Lot Description
1897-O $1 MS66 NGC. It might seem surprising that a Morgan dollar with a mintage of 4 million coins could be considered a key-date issue, but that is the case with the 1897-O dollar. Technically, it is best considered a condition rarity, since circulated pieces are frequently encountered. Those pieces that did not enter circulation at they time they were coined, were distributed from Mint or Treasury vaults long before the early 1960s bonanza that flowed out of Washington, D.C. Few remained by 1964. Finding any Mint State example is a challenge today, and finding an especially nice one is particularly difficult. Most 1897-O Morgans were weakly struck with inadequate luster. Dave Bowers notes in his Guide Book of Morgan Silver Dollars: "The 1897-O is a cherrypicker's dream. Most are poorly or lightly struck, and on most the luster is below par as well. However, there are exceptions. While others buy certified coins of blah quality, you can track down a nice one." The present Premium Gem specimen combines all of the attributes that are considered important to collectors. It has a remarkably strong strike with full hair details over Liberty's ear, and bold breast feathers on the reverse. The surfaces are exquisite, nearly mark free, and the luster is exceptional. This wonderful piece ranks among the finest of all 1897-O Morgans we have seen Census: 6 in 66, 1 finer (10/07).
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