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Lot
4299

1884-S $1 MS63 PCGS. CAC....

2012 July 12-15 US Coin Summer FUN Signature Auction - Orlando #1172

 
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Auction Ended On: Jul 13, 2012
Item Activity: 11 Internet/mail/phone bidders
4,385 page views
Location: Orange County Convention Center
9800 International Drive
Orlando, FL 32819
Description:

Select 1884-S Morgan Dollar
Classic Condition Rarity
Only 15 Finer Coins at PCGS
1884-S $1 MS63 PCGS. CAC. A substantial mintage of 3.2 million Morgan dollars was accomplished at the San Francisco Mint in 1884, but most of the mintage was released into circulation at the time of issue, and few coins were saved for numismatic purposes. The 1884-S is plentiful in circulated condition, but high-grade specimens are quite elusive in today's market.
Undoubtedly, some bags were retained in Treasury vaults, as small numbers were later released to customers in the period from 1926 to the early 1950s. It seems likely that the bulk of the government stockpile was melted under the provisions of the Pittman Act in 1918, however, as the numbers released in later years were never large, and the issue attracted little attention.
The 1884-S was not well-represented in the great Treasury releases of the 1960s, and series specialists finally realized that the issue was scarce in all Mint State grades, and rare above the Select level. Today, the 1884-S is recognized as an important key to the Morgan dollar series in high grade. Auction appearances in modern times include the impressive Select specimen in lot 4184 of the Central States Signature (Heritage, 4/2002), which realized $54,050.
The present coin is a delightful Select example, with sharply detailed design elements that show bold, if not full, definition on the hair strands above Liberty's ear. The mostly brilliant surfaces display a few areas of green and gray toning, with most of the color on the reverse. Both sides exhibit a mixture of vibrant satiny mint luster and semiprooflike reflectivity. We expect intense competition from Morgan dollar enthusiasts when this lot is called. Population: 43 in 63, 15 finer (6/12).(Registry values: P9, N7079) (NGC ID# 254P, PCGS# 7156)

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