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1901 Morgan Dollar MS-65

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jdbarrick's Avatar
United States
350 Posts
 Posted 03/02/2012  8:17 pm Show Profile   Bookmark this topic Add jdbarrick to your friends list Get a Link to this Message Number of Subscribers
Grey sheet bid for a vg 1901 morgan is $34 (essentially melt), yet an ms65 bid is 425,000?

Were the dies poorly made?


To contrast:
A 1903 o morgan vf bids at 260 while the ms65 jumps only slightly (relatively speaking) $585?

Thoughts?





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jfransch's Avatar
United States
1801 Posts
 Posted 03/02/2012  9:48 pm  Show Profile   Bookmark this reply Add jfransch to your friends list Get a Link to this Reply
1901 Silver dollars are an interesting coin. It is believed out of the mintage of 6,962,000 as many as 5,000,000 were melted under the 1918 Pittman Act. The rest appear to have been released into circulation, I have never found a reference to any being released in the Treasury Hordes. It has always (since I was a kid) been known as very rare in high end BU. Q David Bowers in his "Guide to Silver Dollars and Trade dollars" estimated fewer than 225 total in the grades MS63 and above.
1903O is also an interesting coin. Prior to the Treasury release in 1962 of between 200,000 and 350,000 unc coins in $1000 bags, this coin was an extreme rarity. It is believed p to 4,000,000 of the 4,450,000 mintage saw the melt under Pittman. In the 1963 RedBook, which came out before the impact of the teaury release was made known, the 1903O was listed as $1500 in Unc, equal to the 1895 in Proof and surpassing the 1893S ($1200 in Unc) and dwarfing the 1889CC at $275. By 1964 the news was out and the 1964 RedBook lists the 1903O at $30
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jdbarrick's Avatar
United States
350 Posts
 Posted 03/02/2012  9:54 pm  Show Profile   Bookmark this reply Add jdbarrick to your friends list Get a Link to this Reply
jfransch, your thorough response far exceeded my expectations! Thank you!
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cjtm92's Avatar
United States
140 Posts
 Posted 03/03/2012  12:04 am  Show Profile   Bookmark this reply Add cjtm92 to your friends list Get a Link to this Reply
When I saw the title, I clicked the link so fast thinking your purchased that coin!

....Boy did I get excited
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 03/03/2012  10:47 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
Heck, this is a $50k coin in MS64. It's easily the rarest Philadelphia Morgan in Mint State. There aren't more than half a dozen MS65's known, and there's absolutely no way to estimate what one's worth at retail because you can't find one to buy. The last one offered at Heritage was in 1995.
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