Why Is This Coin Worth So Much Money? 1895-O AU-58

thanks Mr or Mrs Moderator.

The short answer is yes. All 1895 Morgan dollars are scarce. The mintages were small because the Sherman Silver Purchase Act of 1890 nearly bankrupted the U.S. Treasury because it resulted in a run on the nation's gold supply. The mintage of silver dollars was curtailed from 1893 and '95 because of that.

The 1895-O is the most common date, but it is almost impossible to find in Mint State and even harder to find attractive Mint State. Many of these coins are darkly toned, poorly stuck and worn. This AU-58 example is a good as many collectors can hope to get to fit into a Mint State Morgan dollar collection.

When I was dealer, I sold an 1895-O that was similar to this for more than this one brought. I remember one that was graded MS-60 selling for $8,000. It was dark and very unattractive in my opinion.

What I find somewhat interesting is that the overall survival of the 1895-O Morgan is not all that low compared to much more affordable Morgans with similar survival estimates. The reason the 1895-O brings so much more money is that there very, very few in mint state. Because of this almost everyone that wants one for their collection is forced to purchase AU or below. This creates a much higher demand for the circulated dollars. PCGS is showing that they've only certified 145 mint state examples. That is a crazy low number compared to other Morgans.

he dropped the price by 500.00
hah