NGC Grader Finds Rare Morgan Error In Bulk Submission

The following is a press release from NGC

A routine bulk submission was interrupted when an NGC grader discovered a multiple cracked collar â€" a rare 1896 Morgan dollar mint error.

An NGC grader was surprised to find a rare mint error while evaluating an otherwise routine bulk submission of common date Morgan dollars. The 1896 Morgan dollar features a multiple cracked collar visible at 1 o'clock, 6 o'clock and 9 o'clock at the edge. It is most prominent from 6 o'clock to 9 o'clock, where the collar has partially sunk away, leaving a raised edge that is partially devoid of reeding.



Broken collar mint errors are the result of the collar, which imparts the edge design (in this case reeding), wearing down during use, cracking, and eventually breaking off. In this case, however, the collar has not fully broken off and instead a piece from 6 o'clock to 9 o'clock has started to sink away from the rest of the collar.


Left: Coin photographed on a concave mirror

When this coin was struck, the metal stretched to fill the recesses created by the sunken collar, which has caused the reeding on the edge at the collar break to appear elongated. The reeding is obscured at the 18 in the date.

Collar breaks are seldom seen, particularly on Morgan dollars. The NGC certification label identifies the location of the collar breaks on this mint error.

Every coin that NGC receives is carefully evaluated for authenticity and grade as well as major varieties and mint errors. This attention to detail is the same for every coin regardless of its value or the grading tier selected by the submitterâ€"and occasionally it results in extraordinary discoveries.

This mint error, for example, was unattributed and submitted as part of a bulk submission of Morgan dollars. A sharp-eyed NGC grader, however, noticed its significance and set it aside for further research. Attributed by NGC as a mint error, this coin is likely to fetch thousands of dollars in the marketplace.