1891-O Morgan Silver Dollar. MS-65+ (PCGS).

A stunning piece with two markedly different appearances to the obverse and reverse. The latter side is brilliant apart from a subtle crescent of the lightest iridescent champagne-apricot along the upper left border. The obverse, however, is awash in a stunning patchwork of golden-olive, blue-gray, deep lilac and pinkish-apricot colors. Obviously, this coin spent many years at the end of a paper-wrapped roll, its obverse in touch with the paper, the reverse in contact with the coin below. Fully lustrous with remarkably few marks, Liberty's cheek is particularly impressive for its smooth appearance. A touch of softness to the central high points and also around the peripheries is typical of the issue, although we stress that overall detail is uncommonly bold. One of the most interesting Morgan dollars from the standpoint of coinage history, the 1891-O is the only issue in this series struck under three different authorizations: the Bland-Allison Act of 1878, the Sherman Silver Purchase Act of 1890, and the Trade Dollar Recoinage Act of 1891. The New Orleans Mint used bullion supplied by all three of these pieces of legislation to strike 7,954,529 coins. As a whole the coiners at the Louisiana branch mint did a very poor job with this issue, the typical example so bluntly struck over the central high points as to be aesthetically unappealing. Indeed, the 1891-O is a strong contender for the title of poorest struck Morgan dollar, Q. David Bowers (1993) stating that, "Many are nearly as flat as the proverbial pancake." Due to this feature the 1891-O is often overlooked in today's market, the issue holding little appeal for type purposes and considered somewhat of a necessary evil by date collectors. Most numismatists in the latter category opt for a lustrous and overall smooth MS-64, accepting a more or less soft strike as par for the course. Since an above average to full strike is an important requirement at the Gem grade level, PCGS and NGC have certified only a handful of 1891-O dollars in MS-65 and MS-65+. The present example, with uncommonly bold detail and outstanding surface preservation, is one of finest obtainable in today's market. It is a breathtakingly beautiful coin that would serve as a focal point in an advanced Morgan dollar cabinet.

PCGS# 7208. NGC ID: 255J.