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Product Information

Q. David Bowers
The following narrative, with minor editing, is from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993)

Numismatic Information

Hoard coins: The 1898 was released in large quantities by the Treasury Department through the Federal Reserve, so that by the mid-1950s Mint State coins were very common in eastern banks. However, before that time Uncirculated coins were scarce, or even rare. Additional large quantities were released in the late 1950s and early 1960s. By the mid-1970s, most such quantities had been widely dispersed, with the result that the Redfield estate holding, estimated to have been about 16 to 18 bags, was a novelty at the time. Most of these Redfield coins went to John Kamin, publisher of The Forecaster newsletter.

Circulated grades: In worn grades the 1898 dollar is very common. Many are in higher circulated grades from VF to AU.

Mint State grades: The 1898 is quite common in Mint State. Most are in the range of MS-60 to MS-63. MS-64 coins abound, but at the MS-65 level the issue becomes slightly scarce (relatively speaking). To be more specific: MS-60 to 62, an estimated 250,000 to 500,000 survive; MS-63, 60,000 to 100,000; MS-64, 30,000 to 60,000; and MS-65 or better, 8,000 to 15,000.
Most 1898 Morgan dollars are sharply struck and have from average to excellent lustre.

Prooflike coins: One-sided prooflike coins are common. Two-sided prooflike coins are scarce. Most prooflike coins have somewhat subdued mirrorlike surfaces. In 1982, Wayne Miller reported that DMPL coins are about twice as elusive as regular prooflikes, and that most prooflike coins are below the MS-65 grade level. This observation was prescient, for grading service data (compiled beginning in 1986) reveals that as of September 1992, NGC and PCGS graded 441 PL and 266 DMPL pieces, and that of the DMPLs, only about 10% were better than MS-64. The Redfield estate is said to include several thousand prooflikes.

Varieties

Circulation strikes:

1. Normal date: Breen-5653. Most of the 30 pairs of dies were probably used. Varieties are positional and/ or with repunching on one date numeral. It is uncertain if open and closed 9's are from the same logotype.

Circulation strike mintage: 5,884,000; Delivery figures by month: January: 650,000; February: 582,000; March: 600,000; April: 184,000; May: 520,000; June: 172,000; July: 100,000; August: 948,000; September: 800,000; October: 450,000; November: 572,000; December: 306,000.

Estimated quantity melted: Many over a long period of years, including worn pieces as part of the private silver melts of the late 1970s.

Availability of prooflike coins: Many exist, including one-sided prooflikes. DMPL coins are about twice as scarce as prooflikes.

Characteristics of striking: Usually sharply struck. Known hoards of Mint State coins: Large quantities were released by the Treasury in the 1950s and early 1960s.

Commentary

The 1898 Morgan dollar is readily available in various Mint State levels.

Additional Information

Mint Miscellany

The Annual Report of the Director of the Mint, 1898, gave the following information:

As of November 1, 1898 Morgan silver dollars had been coined in the amount of 466,836,587 pieces at the various mints, of which 398,753,504 coins were held against silver certificates, leaving a surplus of 4,645,838 in Treasury Department hands available for circulation. In actual circulation in the channels of commerce were 63,437,255 pieces.

A shortage was discovered in the accounts at Philadelphia.

A quantity amounting to 733 silver dollars disappeared during the 18908 when they were being stored. Presumably, these disappeared somewhere between 1893 and 1898

Product Identifiers

Designer
George T. Morgan
eBay Product ID (ePID)
170386221

Product Key Features

Strike Type
Business
Mint Location
Philadelphia, Pennsylvania, Philadelphia
Composition
90% Silver, 10% Copper
Year
1898

Dimensions

Weight
26.73g

Additional Product Features

Mintage
5884
EDGE
Reeded
Mint
Philadelphia
Denomination
$1
PCGS Number
7252
Diameter
38.1mm
Mint Mark
P

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1898 $1 Morgan Silver Dollar

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À propos de ce produit

Product Information

Q. David Bowers

Product Identifiers

Product Key Features

Dimensions

Additional Product Features