1893-S Morgan Dollar sells for $104,000 in Summer FUN auction

paulfrasercollectibles

2015-06-26 12:55:48

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1893-S Morgan Dollar sells for $104,000 in Summer FUN auction

The lowest graded mint state 1893-S Morgan Dollar still saw excellent results

An uncirculated example of the famed 1893-S Morgan Dollar sold with excellent results at Heritage's Summer FUN Signature Auction, despite having the lowest mint state grading possible.

1893-S morgan dollar $1 uncirculated mint stateThe coin sold $20,000+ above other low-graded examples at auction

The coin, graded MS60 by the Professional Coin Grading Service, sold for $103,603, shockingboth the numismatists and auctioneers present. Other examples of this grading typically sell for around $70,000-80,000, while the current world record for an 1893-S Morgan Dollar stands with an MS67 graded example,which sold for $546,250 at Heritage in 2011. The 1893-S is one of the most sought after of all Morgan Dollars following the Sherman Silver Purchase Act and the Panic of 1893, which caused the United States Mint to reduce production of silver coins due to a significant surplus. The coin's rarityis only surpassed by the 1895 Philadelphia dollar, which isonly found in a proof mintage of 880 and is rarely seen at auction. Also featuring in the sale was a Roman gold proof 1909 half eagle, which sold for $92,000. Only around 30 examplesof the coin exist today in any grade, with the MS66+ at auction among the finest available. An MS66+ Saint-Gaudens 1907 high relief $20 also made an appearance, selling for $74,750. Collectors will have the chance to bid on the scarce ultra-high relief example of the Saint-Gaudens double eagle in Heritage Auctions' latest sale, which will take place on August 3. We have a fine collection of investment-grade rarities at Paul Fraser Collectibles. This fascinating shilling is an exceptionally rare example from the besieged city of Carlisle, struck during the English civil war.

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