1892-S $1 MS62 PCGS....

Click the image to load the highest resolution version.

Sold on Jul 31, 2008 for:

Sign-in or Join (free & quick)

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

Key 1892-S Morgan Dollar, MS62

1892-S $1 MS62 PCGS. The 1892-S is perhaps an issue that has not gotten its fair share for a couple of reasons. In the first place, some of the limelight has dimmed in the reflected glory of the 1893-S. While the 1893-S had a mintage of exactly 100,000 coins, the 1892-S had an original mintage of 1.2 million pieces, more than 10 times as much as its S-mint sibling. In the second place, while the 1893-S is rare and the object of fervent desire and great demand in any grade from Poor through MS67, the 1892-S in the lower circulated grades is sufficiently common that examples can still sometimes be found in coin dealers' bullion purchases of bulk circulated silver Morgan dollars.
The relative availability of low-grade examples of the 1892-S Morgan must have lulled the market into a nice numismatic slumber, for when the vast Treasury releases began in the 1960s, no Mint State examples were forthcoming. The few pieces in the market that were truly Mint State saw ever-higher price levels, and more than a few AU coins were sold at inflated prices, creating a market disparity in the range of AU50 to MS60 and inflating demand for high-grade circulated examples.
In MS62 the 1892-S Morgan dollar is remarkably elusive, as might be expected from the foregoing. As of (6/08) PCGS has certified 24 coins in this grade, and there are 27 pieces certified finer at that service. From those numbers the readers may subtract whatever number or percentage they choose for duplications and resubmissions, but they are likely a considerable portion.
Radiant satiny luster emanates from each side of this lovely key-date Morgan dollar. The patina is a light steel-gray, yet it fails to subdue the powerful luster. A series of reeding marks through Liberty's hair below the Y in LIBERTY, with some smaller signs of contact on the cheek, account for the grade, but there is much eye appeal present. (Registry values: P8, N7079)

Coin Index Numbers: (NGC ID# 255P, PCGS# 7218, GSID# 7608)

Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.77346oz
Mintage: 1,200,000

View Certification Details from PCGS