1892-S $1 MS60 NGC....

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Sold on Sep 19, 2008 for:

$29,900.00 Bid Source: Internet bidder

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Description

Shining Mint State 1892-S Morgan Dollar

1892-S $1 MS60 NGC. The 1892-S Morgan dollar, with its mintage of 1.2 million pieces, was not an issue that attracted particular notice for many years. Circulated examples have long been readily available, and premiums through XF are modest compared to other challenging dates with similar mintages. Following the Treasury releases of the early to mid-1960s, though numerous Morgan dollar dates experienced known population explosions, the 1892-S never turned up in appreciable quantities, and collectors began to recognize it as conditionally elusive in AU and better.
Throughout the 1960s and 1970s (and to a certain extent, the 1980s, as exemplified by passages in Wayne Miller's The Morgan and Peace Dollar Textbook), prior to the widespread acceptance of certification services and their grading standards, the 1892-S was often subject to misgrading, willful and accidental, with near-Mint State pieces the most frequent subjects. As a result, many knowledgeable collectors shied away from all but the highest-quality survivors, and the resulting lack of demand depressed prices. Since the 1990s, however, the greater confidence placed in certified grading has increased the popularity of this issue.
The present piece is strictly Mint State, with no trace of wear on any part of the design. While the MS60 designation may suggest an unattractive coin, this example is remarkably pleasing, and no abrasions merit individual mention, though a number of fine marks on each side confirm the grade's accuracy. Well struck and strongly lustrous beneath generally silver-white patina that shows occasional golden tints. Census: 6 in 60, 43 finer (7/08).(Registry values: P8, N4719)

Coin Index Numbers: (NGC ID# 255P, PCGS# 7218, Greysheet# 7608)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from NGC