In an unexpected turn of events, a rare 1893-S Morgan Silver Dollar was discovered inside an old cookie tin during a family estate cleaning. The coin, tucked away for decades, turned out to be a numismatic treasure.
The Significance of the 1893-S Morgan Dollar
The 1893-S Morgan Dollar is renowned among collectors for its rarity. With a mintage of only 100,000, it’s the lowest production figure for any business-strike Morgan Dollar. Surviving specimens, especially in Mint State (MS) condition, are exceedingly scarce.
The Auction and Record-Breaking Sale
The coin was submitted to Numismatic Guaranty Corporation (NGC) and received a grade of MS-62, indicating it was in uncirculated condition with minor imperfections.
At a recent Heritage Auctions event, the coin attracted significant attention, ultimately selling for $150,000, setting a new record for this grade.
Detailed Information
| Feature | Details |
|---|---|
| Coin | 1893-S Morgan Silver Dollar |
| Mintage | 100,000 |
| Grade | MS-62 (NGC) |
| Auction House | Heritage Auctions |
| Sale Price | $150,000 |
| Discovery Location | Inside a family cookie tin |
| Significance | Lowest mintage of business-strike Morgans |
Why This Coin Is So Valuable
Several factors contribute to the high value of this coin:
- Low Mintage: Only 100,000 were produced, making it the rarest business-strike Morgan Dollar.
- Condition: Achieving an MS-62 grade is exceptional for this coin, as most have been circulated and show significant wear.
- Historical Significance: The 1893-S Morgan Dollar represents a period of economic hardship in the U.S., adding to its allure.
The discovery and subsequent sale of the 1893-S Morgan Silver Dollar underscore the hidden treasures that can reside in everyday places.
This event serves as a reminder of the historical and monetary value that rare coins can hold.
FAQs
How can I determine if my Morgan Dollar is valuable?
Check the coin’s date, mint mark, and condition. Coins from certain years and mints, like the 1893-S, are more valuable. Consulting a professional grading service can provide an accurate assessment.
What does an MS-62 grade signify?
MS-62 denotes a Mint State coin with no wear but may have noticeable marks or abrasions. It’s considered uncirculated but not of the highest quality.
Where can I sell rare coins?
Reputable auction houses, coin dealers, and online platforms specializing in numismatics are good places to sell rare coins. Ensure the buyer is certified and trustworthy.