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Lot
30334

1893-S S$1 MS64 PCGS....

2005 Ft. Lauderdale FL. (FUN) Signature Sale #360

 
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Auction Ended On: Jan 12, 2005
Item Activity: 13 Internet/mail/phone bidders Number of Bidders
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Description:
Prized Choice Uncirculated 1893-S Morgan Dollar
1893-S $1 MS64 PCGS. The proof-only 1895 aside, this issue has long been recognized as the premier rarity in the Morgan Dollar series. The election of President Grover Cleveland and the financial panic caused by the hoarding of gold during this period marked a shift in government policy toward the minting of Silver Dollars. The repeal of the Sherman Act became law in the winter of 1893 and mintages were drastically reduced. Just 100,000 pieces were struck, a tiny figure by Morgan Dollar standards, and the vast majority 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 piece never fails to capture a numismatic headline. There have never been any significant hoards of 1893-S Morgan Dollars located, and none were in the Treasury release of the 1960s. In The Morgan and Peace Dollar Text Book, author Wayne Miller mentioned a small hoard: "Many BU 1893-S dollars can be traced to a hoard of twenty pieces found in a BU bag of 1894-S dollars in Great Falls, Montana in the early 1950s. These dollars were dispersed over a twenty year period, one or two at a time."
This virtual Gem representative is accented in delicate golden hues and shows just a few slight blemishes on and in the vicinity of Liberty's chin. The strike is more than adequate for the issue and the luster is more satiny than cartwheel. The distinctive markers of genuine 1893-S Dollars, a tiny die chip located in the left base of R and a diagonal die line that severs the left arm of T, are clearly on display. Only a few dozen Mint State pieces are known to exist, and they are among the most prized Silver Dollars of any date and any type. Population: 4 in 64, 7 finer (11/04).
From The Lost Dutchman Collection.(#7226) (Registry values: P10, N10218) (NGC ID# 255U, PCGS# 7226)

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