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Question Re 1899-P Morgan

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jpsned's Avatar
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2208 Posts
 Posted 02/11/2011  11:49 pm Show Profile   Bookmark this topic Add jpsned to your friends list Get a Link to this Message Number of Subscribers
This coin has a mintage of only 330,000, but it sells for much less than either the 1895-O or 1895-S, which have higher mintages (450,000 and 400,000, respectively).

Why is this? My guess is that because the 1895-P is so scarce (12,880), people are happy to pay more for that date from the two other mints, whereas in 1899, the other two mints made plenty of coins.
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Coinstar's Avatar
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 Posted 02/11/2011  11:53 pm  Show Profile   Bookmark this reply Add Coinstar to your friends list Get a Link to this Reply
well I found this:

The 1895 Morgan dollar:
The 1895 Morgan dollar is known as the "King of the Morgan dollars" because it is the rarest and most valuable of the entire Morgan dollar series. PF-68 specimens of this rare coin have sold for upwards of $120,000 at auction.

According to U.S. Mint records, there were 12,000 regular circulation Morgan dollars struck for 1895, and 880 Proof specimens struck. However, only 75 to 80 of the 1895 Morgans have been accounted for, all of them Proofs. Where did 12,000 plus coins go?

A Mysterious Disappearance?:
Numismatic scholars are divided in their opinions as to why the 12,000 business strike specimens of the 1895 Morgan silver dollar have vanished into history. Most believe that the coins were never minted in the first place, and that this notation in the Mint accounting ledgers is in error. Some believe that the coins were minted, but melted down for various reasons. I even read one theory that proposes the coins were lost at sea in a shipwreck.
Retired USAF 1983-2003
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carmykle's Avatar
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2448 Posts
 Posted 02/12/2011  12:46 pm  Show Profile   Bookmark this reply Add carmykle to your friends list Get a Link to this Reply
I blame "Billy the Kid". Just Kidding! I'll bet they're buried somewhere.
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invisibleninja7's Avatar
United States
91 Posts
 Posted 02/12/2011  1:23 pm  Show Profile   Bookmark this reply Add invisibleninja7 to your friends list Get a Link to this Reply
I would laugh if they were buried way back in some warehouse the Fed used to own.
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 Posted 02/12/2011  2:07 pm  Show Profile   Bookmark this reply Add 1893S to your friends list Get a Link to this Reply
The most used expanation for this is that the 1899 was still being minted in 1900 and was added to the 1900 mint totals...
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ExoGuy's Avatar
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4416 Posts
 Posted 02/12/2011  2:39 pm  Show Profile   Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply
Most knowledgeable collectors and dealers with whom I've spoken believe that the 1895-O is an overrated coin in terms of value. Over the years, I've encountered far more of those in my travels than either the 1895-S or the 1899. Also, when encountered, the 1899's appear to have seen far less circulation than the 1895-O/S's. Might there be some original bags of these dates sitting in some government vault? Might they have been melted to render later coins? Time may tell ...
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