1886-O $1 MS65 PCGS....

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1886-O Silver Dollar, MS65
A Condition Census Rarity

1886-O $1 MS65 PCGS. The 1886-O Morgan dollar is among the most famous condition rarities in the series. Circulated examples are plentiful, and low-end Mint State pieces are usually accessible with some patience. However, the date becomes notably scarce in MS64, and for many collectors the opportunity to acquire a higher-grade piece may never present itself. The Condition Census for this issue is composed of seven Gem examples at PCGS (one of which is Plus graded) and the singular MS67 Deep Mirror Prooflike Jack Lee coin. None exist in Gem or better condition at NGC (7/22). Thus, the present MS65 offering represents an incredible opportunity for advanced Morgan dollar Registry collectors.

The rarity of this issue in high grade stands in contrast to its mintage of more than 10.7 million coins, which were delivered in monthly batches of about 900,000 coins throughout the year. It is generally believed that the 1886-O was among the dates devastated by the 1918 Pittman Act melts, and that large quantities of the issue were earlier paid out into circulation. In A Guide Book of Morgan Silver Dollars, fifth edition, Q. David Bowers recalls that a few bags of the date were released in the 1950s, "keeping this coin out of the rarity class at that time." The scant number of Gems known today was not obvious to collectors until the advent of third party grading. To date, no hoards of 1886-O dollars have been discovered to augment the current survivorship.

This piece displays brilliant, satiny mint luster and has remarkably well-struck devices for a New Orleans issue of this period. A few faint grazes on Liberty's cheek and in the fields on each side prevent an even finer grade but do nothing to preclude Gem classification. This coin is truly an elite rarity, among the finest known of an unexpectedly challenging branch mint Morgan dollar. Population: 7 in 65 (1 in 65+), 1 in MS67 Deep Mirror Prooflike finer (7/22).(Registry values: P8, N7079)

Coin Index Numbers: (NGC ID# 254W, PCGS# 7168, Greysheet# 7536)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from PCGS