Lot 1048
1884-S Morgan Dollar. NGC graded MS-64. Well struck and mostly untoned. A very rare date in this grade. Despite a not insignificant mintage -- 3.2 million pieces -- the '84-S is one of several prized condition rarities in the series of Morgan silver dollars. Quite simply, the number of true BU 1884-S dollars is inadequate to supply the needs of the new ranks of Morgan Dollar buyers. Time and again we hear of collectors complaining that they must wait for months before finding a respectable example. Since the surfaces here are satiny and largely mark-free, the present specimen can claim above-average eye appeal. The luster is vibrant and silvery with iridescence, as well, cartwheel effects are present when the viewer rotates the coin beneath a light. An impressive coin for the grade, is the point we are stressing, and one we feel should please most collectors with its well preserved surfaces and choice color. Pop 12; 3 finer, 2 in 65, 1 in 66 (PCGS # 7156) .
Historic note: In the 1960s the Treasury Department released millions of Brilliant Uncirculated Silver Dollars. There were no 1884-S pieces found. In 1976, Revere Redfield's treasure trove of 475,000+ Dollars entered the market. Again, no 1884-S. In 1984, Continental Illinois Bank in Chicago had to be rescued by federal bailout. Upwards of 1.5 million Silver Dollars were found in its vaults! But, no 1884-S. For some inexplicable reason virtually all 1884-S Morgan Dollars went into circulation. Original bags were unknown and are unreported (unlike 1889-CC, for example, of which several bags are waiting in the wings for the right market conditions). What happened to them all? As with the disappearance of the mystery business strike 1895 Philadelphia Mint, perhaps we shall never know.
Estimated Value $50,000 - 60,000.
|
| |
| Realized $80,500 |
