1897-O $1 MS65 PCGS....

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Description

Gem 1897-O Morgan Dollar
Rare Sharply Struck Example
Vibrant Luster, Exceptional Eye Appeal

1897-O $1 MS65 PCGS. The 1897-O Morgan dollar enjoyed a substantial mintage of more than 4 million pieces, but quality control was not a priority for the issue. The New Orleans Mint was under a great deal of pressure to produce large quantities of silver dollars in the shortest possible time, and the aesthetic appearance of the individual coins was not an important consideration. The Mint staff indulged in many time-saving practices, like spacing the dies slightly farther apart to save on wear and breakage. As a result, most examples of the 1897-O are softly struck, and have poor luster characteristics. Examples in Gem condition are seldom encountered. As Q. David Bowers states, "In sharply struck MS-65 grade the 1897-O is among the rarest Morgan issues."
The 1897-O is readily available in circulated grades, suggesting that many examples were placed into circulation over the years rather than being stored in banks and Treasury vaults. A few bags were released from Treasury storage and from the Federal Reserve Bank in Helena, Montana in the 1940s and 1950s, but no large quantities were available in the Treasury releases of the 1960s. It seems likely that the majority of the coins that were initially stored in government facilities were melted under the provisions of the Pittman Act in 1918.
The present coin is a marvelous Gem specimen with razor-sharp details on all design elements. Even the usual problem areas, like the hair above the ear, are crisply detailed. Unlike most examples of this issue, vibrant frosty mint luster is evident on both sides. The well-preserved surfaces are brilliant, with a few hints of gold toning in scattered areas. This coin should be a welcome addition to a fine collection or Registry Set. Population: 6 in 65, 7 finer (8/11).(Registry values: P7, N7079)

Coin Index Numbers: (NGC ID# 2566, PCGS# 7248, Greysheet# 7629)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from PCGS