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Lot
8743

1892-S $1 MS63 PCGS. The 1892-S is one of those issues ...

2004 September Long Beach Signature Sale #355

 
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Offers to date: $75,000 on July 29, 2014
$70,000 on May 8, 2014
$66,700 on September 10, 2013
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Auction Ended On: Sep 11, 2004
Item Activity: 9 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Extremely Scarce 1892-S Morgan Dollar MS63
1892-S $1 MS63 PCGS. The 1892-S is one of those issues that makes collecting Morgan Dollars an intriguing experience. Despite a limited original mintage of 1.2 million coins, this date is not rare in an absolute sense. However, most survivors are worn, and quite extensively at that because even XF and AU coins are scarce in today's market. Uncirculated representatives are of the utmost rarity, and there does not appear to have ever been a time when this issue was common in grades above the Mint State threshold. When the San Francisco Mint dispersed bag after bag of Morgan Dollars in the 1940s and 1950s, no 1892-S examples were included. Likewise, the Treasury Department releases of the following decade yielded no '92-S Dollars. It is likely that many of the coins originally produced were placed into circulation during the 1890s. Those that were not remained in government holdings until destroyed at the end of World War I under the terms of the Pittman Act.
The present example presents a remarkably smooth sheen for the Select level of preservation. Liberty's cheek and neck, as well as the adjacent field areas, are particularly abrasion-free, and the strike is impressive with sharp, if not razor sharp definition in all areas. Rich antique-copper toning overlays both sides with splashes of steel-russet patina intermingled throughout. Certainly among the most noteworthy Morgan Dollar offerings in this sale. Population: 4 in 63, 21 finer (8/04).
From The Scottsville Collection of Morgan Dollars.(#7218) (Registry values: P8, N7079) (NGC ID# 255P, PCGS# 7218)

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