1892-S Morgan Silver Dollar. AU-55+ (PCGS).

This mostly brilliant Morgan dollar does display some vivid reddish-gold iridescence ringing portions of the peripheries. Lustrous with a satiny finish, both sides also offer bold to sharp striking detail throughout the design. Although far from the lowest mintage issue in this popular series, the 1892-S is one of the rarest Morgan dollars in Mint State. Most of the 1,200,000 coins struck were placed into circulation during the late 19th and early 20th centuries, accounting for the relatively large number of low grade examples through VF. Few groups of Mint State coins reached dealer or collector hands over the years, and apparently none after the 1930s. It is likely that virtually all of those examples that were kept from circulation were destroyed among the 270,232,722 silver dollars melted pursuant to the terms of the 1918 Pittman Act. In today's market the best 1892-S that most Morgan dollar enthusiasts can hope to acquire is a bold, lustrous Choice AU such as that offered here. Indeed, this is a coin that would fit comfortably into a date and mint set of predominantly Uncirculated examples.

PCGS# 7218. NGC ID: 255P.

Estimate: $ 3750