1895-O $1 MS62 PCGS....

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Sold on Jan 9, 2009 for:

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Seldom Encountered 1895-O Morgan Dollar, MS62

1895-O $1 MS62 PCGS. In 1895, silver dollars were definitely not needed or wanted by the American public. The provisions of the Sherman Silver Purchase Act of July 14, 1890 required the government to produce a vast quantity of these unnecessary coins every month. The thankless task of coining these unwanted coins fell heavily on the staff of the New Orleans Mint during much of the 1890s.
Probably because the coiners knew the majority of these coins would be stored in vaults, far from critical eyes, the staff took no special pains with quality control. In fact, their main concern was to turn out as many coins as possible, in the shortest time possible. In an effort to lessen die wear and prevent breakage, with the resulting delays, the coiners set the dies farther apart than usual, resulting in poor striking quality on almost all specimens coined. Muted mint luster was also a consequence of this casual approach to coinage.
The recorded mintage for the 1895-O Morgan dollar was an anemic 450,000 pieces. Though most of these were stored away, perhaps 100,000 pieces were released into circulation at the time of issue. Coins continued to be released sporadically over the years, until the supply was gone. Apparently, there were no 1895-O coins left in storage by the time of the Treasury releases in the 1960s. Q. David Bowers has stated, "The rarity and importance of the 1895-O in Mint State cannot be overemphasized."
The present coin has a better than average strike for this date, with much detail discernable on Liberty's hair and the eagle's breast. The luster is subdued, as usually seen on this date. Mottled gray and lilac toning accent the fields, and handling marks are consistent with the grade. This offering is an important opportunity to acquire this historic coin in Mint State.(Registry values: P9, N4719)

Coin Index Numbers: (NGC ID# 255Y, PCGS# 7236, GSID# 7620)

Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.85oz
Mintage: 450,000

View Certification Details from PCGS