Counterfeit Detection: 1903-O Morgan Dollar

NGC - The 1903-O Morgan dollar was once considered the key date in the entire Morgan series. For decades, it was believed that most had been melted down prior to their release. In fact, the 1955 Guide Book of United States coins (the " Red Book") lists the value of the 1903-O Morgan at $275 in Uncirculated, and the now-coveted 1893-S appears at just $250.

Read More: Counterfeit Detection Series.

However, in the 1960s, the U.S. Department of the Treasury released many bags of Morgans that contained numerous 1903-O examples. This caused the value of uncirculated specimens to plummet to just $47.50 in 1975, compared to $16,000 for the 1893-S!

Today, the NGC Price Guide values the 1903-O at $720 in Mint State-65, which still makes the coin a semi-key. But compare that to the 1893-S at $670,000 in the same grade, and you can see how far it has fallen. Still, the 1903-O is a better date and, therefore, is targeted by counterfeiters.


Counterfeit 1903-O Morgan Dollar

At first glance, this coin would certainly fool many collectors. However, further inspection reveals it has some odd features. The most glaring is the date, which simply doesn't look right.


Closeup view of the genuine "1903-O Morgan dollar" date (left) and the counterfeit date (right)

Read the Entire Article