Lot 2950
1886-O Morgan Dollar. PCGS graded MS-64. Frosty white coin. This is a shimmering, nice cartwheel luster, silver-colored example. The bold strike is impressive for the O-mint date and both sides are typically smooth for the grade. We note a light mark on Liberty’s cheek, and some similar abrasion in the reverse field by the arrowheads. Some issues, such as the 1893-S silver dollar, are celebrated for having the lowest mintage in a series, while others like the 1921 Peace dollar are distinguished by being a first-year issue. On occasion, it is the physical individuality of a coin that makes it special, like an overdate 1880/79-CC. One such special coin is the current offering, as it belongs to that small company of high-end 1886-O dollars. But why is ’86-O, seemingly a common issue, so rare in high grade? The mintage of over 10 million coins makes it hard to believe that so few 1886-O dollars exist in choice to gem condition. The 1881-S issue saw a comparable output of coins, yet well over 1,100,000 examples of that date are known in Mint State (!) due to a bank vault discovery of that many in 1984 when the Continental Illinois Bank went into receivership. The mystery of the 1886-O has never been explained to anyone's satisfaction. Pop 216; 12 finer, 9 in 64+, 2 in 65, 1 in 65+ (PCGS # 7168) .
Estimated Value $8,000 - 8,400.
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| Realized $9,200 |
