1896-O Morgan Silver Dollar. MS-62 PL (PCGS).

An outstanding strike rarity to represent this challenging New Orleans Mint issue. The fields display an uncommon degree of reflectivity in an 1896-O, and they form a pleasing backdrop to lightly frosted design elements. Unusually given their absolute rarity (see below), PL examples of this issue tend to be sharply struck, and this piece is no exception. Even the hair curls over Liberty's ear and the eagle's breast feathers are crisply delineated. Fully untoned and brilliant with no singularly distracting marks to limit the eye appeal. In an absolute sense, the 1896-O Morgan dollar is of unremarkable scarcity. With a mintage figure of nearly 5 million pieces, examples up through Choice About Uncirculated can be obtained with minimal effort and expenditure. In spite of the liberal production figure, the vast majority of coins were subjected to circulation and relatively few pieces were hoarded in Treasury vaults. Choice Mint State pieces are relatively elusive in the marketplace, with true Gems remaining virtually unobtainable. With a Prooflike finish the 1896-O is "occasionally available, although very rare," in the words of Wayne Miller ( The Morgan and Peace Dollar Textbook ). This is our first offering for a Prooflike Mint State example in 10 years, and it is a top-pop rarity in a PCGS holder that belongs in the finest collection of PL Morgans.

PCGS# 7243. NGC ID: 2563.

PCGS Population: 14; in all grades in the PL category, the four finest of which grade MS-62 PL, as here.

Estimate: $9000