All right, here are three different
Morgan dollars from my collection that are all worth approximately the same ($4000), but they are all worth that much for very different reasons. The question is, if you had the money to spend and could only buy one of them, which would you choose (and why)?
First up is the
rare:

[After being closed for four years, the Carson City Mint resumed coining operations in late 1889. 100,000
Morgan dollars were struck there in October and November, and 150,000 were struck in December. Unfortunately, it seems that a majority of these eventually made their way to the melting pot, making these even rarer than the low mintage suggests. Today, they tend to be found in circulated condition and, unlike this example, often have issues such as cleaning or damage.]
Next up is the
beautiful:


[Yeah, yeah -- I know. They are
all beautiful. And, seeing as how only 755 proof
Morgan dollars were minted in 1903, it's also extremely rare. It's not particularly high grade as far as proofs go, however, even though it does have extraordinary eye appeal.]
And, finally, we have the
high grade:

[A pretty common date with a mintage of 8,500,000. Still, at MS68 you are not likely to ever run into a higher grade example of a
Morgan dollar, and certainly not at a price most people could ever dream of affording.]
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And there you go! My avatar makes it pretty clear which one I would choose if I could only pick one, but what say you? Rarity, beauty or condition?