1884 $1 MS68 PCGS. CAC....

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$63,000.00 Bid Source: Internet bidder

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1884 Morgan Dollar, MS68
Tied For Finest Certified
CAC-Approved Registry Set Essential

1884 $1 MS68 PCGS. CAC. The Bland-Allison Act of 1878 required the Treasury Department to purchase large amounts of silver from the Western mines, which was converted into millions of unneeded silver dollars every year. Accordingly, the Philadelphia Mint struck a huge production of more than 14 million Morgan dollars in 1884. Many of the coins were released into circulation at the time of issue, but many more were held in long-term government storage and released many years later. Of the coins released into circulation, few were saved by contemporary collectors, who preferred to purchase proof examples from the Mint every year to update their collections. The Treasury Department continued to release bag quantities of the 1884 throughout the 1940s and '50s, especially at Christmas time, when they were in high demand as gifts. The 1884 is one of the most available issues of the series in high grade today, making it a favorite choice of type collectors.

Of course, the issue is still rare at the exalted MS68 grade level. PCGS has graded only three examples in this grade, with none finer, while NGC has certified two coins in MS68, also with none finer (6/24). Prices realized for high-grade specimens have risen exponentially over the years. The 1947 Guide Book price for an Uncirculated example was $2.50. The present coin holds the current price realized record for the issue, at $66,000. which it brought at a Heritage auction in 2022.

The 1884 Morgan dollar is a plentiful issue in most grades today, but few examples can match the outstanding quality and eye appeal of this magnificent MS68 example. Razor-sharp definition is evident on all design elements and the impeccably preserved surfaces radiate vibrant mint luster from both sides. The surfaces are essentially brilliant, but a few subtle highlights of golden-tan and lavender toning appear at selected angles. Overall eye appeal is terrific and the high quality within the grade is confirmed by CAC. This coin is pictured on PCGS CoinFacts. Population: 3 in 68, 0 finer. CAC: 2 in 68, 0 finer (6/24).
Ex: Long Beach Signature (Heritage, 2/2018), lot 4026, realized $45,600; Long Beach Signature (Heritage, 2/2022), lot 3099, realized $66,000.(Registry values: P2, N4719)

Coin Index Numbers: (NGC ID# 254L, PCGS# 7150, GSID# 7492)

Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.77346oz
Mintage: 14,070,875

View Certification Details from PCGS