It is said that the extremely rare 1893-S U. S. Morgan Silver Dollar is in demand for the reasons of numismatic rarity and history. Such rarity and stories associated with it determine its fate for weighty amounts of, ordinarily, not less than $550,000 for an acceptable coin.
Origin of the Morgan Silver Dollar
Minted from 1878 to 1904 and briefly in 1921, the Morgan Silver Dollar was designed by George T. Morgan. A more idealized version shows Lady Liberty on the obverse and an eagle with outstretched wings on the reverse, indicative of America’s westward expansion and industrial program.
A Distinct Coin, the 1893-S Issue
The 1893-S Edition occupies a primary position in the Morgan series as it is justified with its remarkable pride in being known as without comparison with any other particular coin in the numismatic world.
Key Features of the 1893-S Morgan Silver Dollar:
| Feature | Specification |
|---|---|
| Mint Location | San Francisco |
| Mintage Quantity | 100,000 coins |
| Composition | 90% Silver, 10% Copper |
| Diameter | 38.1 mm |
| Weight | 26.73 grams |
| Designer | George T. Morgan |
Cause of Scarcity
1. Low Mintage: The 1893-S is the least mintage of all the Morgan Dollars-just 100,000 pieces were minted.
2. Historical Context: The onset of financial crisis in 1893 was why production was lopped off from the coin and thus added to the melting by the Pittman Act, which melted millions of silver dollars in 1918, possibly including some 1893-S coins.
3. Cummulative Use: Most of these coins resided minted in the western United States thus leaving most coins in very poor conditions, causing rare high-quality coins.
Pricing Information
The worth of the 1893-S Morgan Silver Dollar keeps changing regarding the conditions as uncirculated coins tend to be of high worth.
Estimated Values by Condition:
| Condition | Estimated Value Range |
|---|---|
| Good (G-4) | $4,791 |
| Very Good (VG-8) | $5,448 |
| Fine (F-12) | $6,063 |
| Very Fine (VF-20) | $6,616 |
| Extremely Fine (EF-40) | $11,767 |
| About Uncirculated (AU-50) | $25,907 |
| Uncirculated (MS-60) | $224,011 |
| Uncirculated (MS-65) | $702,482 |
|
Special Auction Sales
In 2014, an Eliasburg 1893-S Morgan dollar graded as MS-65 by PCGS sold for $646,250.
An example of a PCGS MS-67 specimen sold for a record auction at $2,086,875 and is now noted as the best-known specimen in the year 2021.
How can You Spot Counterfeit Coins?
Due to its highest price, 1893-S Morgan dollars were counterfeited most of the time. A collector must be careful on the following:
1. Mint Mark Modified: Some counterfeiting companies have added an ‘S’ mint mark on 1893 coins made in Philadelphia.
2. Variations of Die: The true 1893-S dollar were minted using dies that are particular. Variations could indicate a counterfeit.
It is always good practice to get a reliable coin grading service or numismatic expert to verify the authenticity of a coin.
Because of its limited mintage, historical significance and continuing interest, the 1893-S Morgan Silver Dollar is among the most important coins for collectors. Its journey, from the mint at San Francisco to one of the most sought-after coins, epitomizes a rich story in American numismatic history.
FAQs
1. What makes the 1893-S Morgan Silver Dollar worth such a high value?
Limited production, historic events that caused melting, as well as the lack of available high-quality coins all contribute to this coin’s value.
2. How do I know if my 1893-S Morgan Dollar is genuine?
Contact reputable coin grading agencies; be on guard for modified mint marks or die anomalies.
3. What are the major determinants of this coin’s value?
The condition of the coin, its rarity, the coins’ historic significance, and the market demand affected the value..