1903-S $1 Micro S MS65 PCGS. CAC....

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Sold on Jan 7, 2016 for:

$76,375.00 Bid Source: Live: Floor bidder

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Description

1903-S Morgan Dollar, Unimprovable MS65
VAM-2, Micro S
Major Registry Variety

1903-S $1 Micro S MS65 PCGS. CAC. A Top 100 Variety. Micro S. For many years, Morgan dollar collectors and variety specialists have vied for ownership of the Micro S mintmark that appears on a small number of 1903-S silver dollars. Current research suggests only a single reverse die was prepared with the wrong mintmark punch. Some believe the mintmark was meant for the 1903-S Barber quarters, while others propose it was a punch for the 1903-S Barber half dollars. Photographic comparisons are inconclusive, although the Micro S is easily recognized on a 1903 silver dollar because it is about one-third the size of a normal dollar mintmark.

The Bowers reference states: "1903-S, "Small s," VAM-2: Mintmark much smaller than the regular, larger S. Possibly intended for use on quarter dollar dies. Usually seen in worn grades when seen at all. Rare."

More recently, Kevin Flynn commented about the value trends of the 1903 Micro S in his 2015 reference The Top Morgan Dollar Die Varieties: "...if an uncirculated specimen was found, all bets would be off as it would be unique in this grade." His comment was prophetic.

While we have handled many circulated examples over the years and the variety is well-known, it was not until our April, 2015 Central States Signature auction that the first documented Mint State example that appeared at public auction. Graded MS62 PCGS as lot 5181, the coin realized a remarkable $76,375, confirming the status of the Micro S as a recognized major variety and an extreme condition rarity in the series.

Now, we are thrilled to present second Mint State representative -- what can only be considered as a highly improbable, and likely unimprovable example -- of the 1903 Micro S. Nearly entirely prooflike (all higher-grade examples of the variety show some prooflikeness), both sides are imbued with greenish-gold, pale-blue, and grayish rose toning. The strike is needle-sharp throughout. There are no abrasions or marks of any consequence, suggesting an even higher grade may be within reach of this coin, since the eye appeal is equally outstanding.

Simply put, collectors will find it amazing that this Gem coin exists. It is sure to capture the interest of every advanced Morgan dollar enthusiast as well as the Registry Set collector who is dedicated to forming a highest-ranking set that includes the major Morgan dollar varieties.

Coin Index Numbers: (NGC ID# 256T, Variety PCGS# 133967, Base PCGS# 7306, Greysheet# 25252)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from PCGS