The 1893 S Morgan Silver dollar, struck at the San Francisco Mint, is the rarest in the Morgan dollar series at only 100,000 coins produced. Due to its worth and rarity, counterfeiters are attracted to it. To find out which coins are genuine, collectors frequently look for die variations. Since most of these coins were in circulation, it is particularly rare and important to discover one in mint condition. The 1893-S Morgan dollar, which is 90% silver, is still in high demand with coin collectors.
History of 1893 S Morgan Silver Dollar
One reason few examples of the coin have survived is the Panic of 1893. Amid the failure of United States banks, the mints produced fewer coins. Later, the 1918 Pittman Act called for many silver dollars to be melted. Many of the 1893-S Morgan dollars were struck as a result of the Pittman Act. coin was also circulated heavily in the Western United States as it was developing.
The coin is both rare and valuable, and it is collected even in circulated grades. Numismatic News has estimated that there are less than 100 1893-S Morgan dollars in uncirculated condition. The two largest coin grading companies, PCGS and NGC, have graded 47 in higher grades.
The Eliasberg 1893-S Morgan dollar sold for US$646,250 at auction in 2014. It is a Professional Coin Grading Service (PCGS) graded coin in MS-65. In 2021, a PCGS-graded 1893-S Morgan dollar in MS-67 sold for US$2,086,875. The coin is considered to be the finest known and is named the Vermeule 1893-S. In March 2023, an 1893-S graded by Numismatic Guaranty Company (NGC) in MS-64 sold for US$372,000.
Specification:
- Category: Morgan Dollars (1878-1921)
- Mint: San Francisco
- Mintage: 100,000
- Obverse Designer: George T. Morgan
- Reverse Designer: George T. Morgan
- Composition: Silver
- Fineness: 0.9
- Weight: 26.73g
- ASW: 0.7734oz
- Melt Value: $22.68 (6/11/2024)
- Diameter: 38.1mm
- Edge: Reeded
Basic Design
Obverse:
The 1893-S Morgan dollar has a classic design prepared by George T. Morgan. The obverse side shows a profile of Lady Liberty decorated with a Phrygian cap, a symbol of freedom. Surrounding Lady Liberty are the phrases “E Pluribus Unum” and the date “1893.”
Reverse:
The reverse side reveals a heraldic eagle with outstretched wings clutching an olive branch and arrows, symbolizing peace and strength. The inscriptions show “United States of America” and “One Dollar” encircle the eagle, along with the “S” mint mark revealing it was struck at the San Francisco Mint. The coin has a reeded edge and 38.1mm diameter are common qualities of the Morgan Dollar series.
1893 S Morgan Dollar Value
According to the NGC Price Guide, a Morgan Dollar from 1893 in the circulated condition is worth between $3000 and $90000. However, 1893 S Silver Dollars in pristine, uncirculated condition deal for as much as $1250000 on the open market.
Also Read – 1920 D Buffalo Nickel: A Complete Guide
Conclusion:
The 1893-S Morgan dollar is a wonderful piece and collection in numismatic history because of its rarity and historical value with only 100,000 coins minted, its scarcity makes it highly sought after by collectors. The coin’s design, prepared by George T. Morgan, and also adds to its attraction, featuring iconic signs of liberty and strength.
With advancements in coin manufacturing and security, the 1893-S Morgan dollar maintains its value. In addition to its silver material, collectors value it for its importance in American history. In the world of coin collecting, the 1893-S Morgan dollar is still highly valuable and captivating, whether it is in mint or circulated condition.