1893-S $1 AU58 PCGS....

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Sold on May 5, 2022 for:

$114,000.00 Bid Source: HA.com/Live bidder

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1893-S Morgan Dollar, AU58
Sought-After Key Issue
Seldom Offered at This Grade

1893-S $1 AU58 PCGS. The 1893-S is a formidable coin in any grade, but it is especially elusive at the Mint State level or nearly so. Fewer than 100 Uncirculated examples survive, a number only marginally inflated by near-Mint coins such as this example. Many theories exist about what happened to all the 1893-S silver dollars. The mintage was a series-low 100,000 pieces -- certainly a contributing factor, although the 1894 has a similar mintage (110,000 pieces struck) yet significantly more examples survive. Undoubtedly, the 1893-S circulated more heavily than other low mintage Morgan dollars in the Western economy. Some failed to survive melting under terms of the Pittman Act. Most 1893-S examples exist at the VF level, and no 1893-S coins participated in the Treasury releases during the 1962-1964 period.

This About Uncirculated example is a whisper away from full Mint State. Much silver mint luster flashes across lightly abraded fields and devices. Partial reflectivity in the fields adds to the strong eye appeal, as does a ring of reddish-gold and blue toning that hugs the rims. The reverse displays faint iridescence and light-gray toning, with bright and frosty mint luster that remains vibrant despite the faint hint of circulation. Michael "Miles" Standish suggests, "Less than 12,000 gradable coins are known." This nearly Mint State example far exceeds all but the few true Uncirculated examples, and surpasses many of those in terms of eye appeal. Liberty's cheek is clean and only a few tiny marks accompany faint friction that suggests brief circulation. This coin is sure to elicit strong bids from advanced Morgan dollar enthusiasts needing to fill or upgrade their challenging 1893-S slot. Population: 16 in 58 (1 in 58+), 37 finer (3/22).
From The Derek Overstreet Collection. (Registry values: P10, N4719)

Coin Index Numbers: (NGC ID# 255U, PCGS# 7226, Greysheet# 7614)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

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