1893-S $1 Morgan Dollar, The King of Morgan Dollars

About This Note

The coin you see here is the exact coin you will receive.

The 1893-S Morgan Dollar. The King of Morgan Dollars. The single most famous key date in all of American numismatics.

In 1893, the United States was in the grip of the Panic of 1893: one of the worst economic depressions in American history. Banks were failing. Businesses were closing. The San Francisco Mint struck just 100,000 Morgan Dollars that year, the lowest mintage of any business-strike Morgan Dollar in the entire series. Most of those 100,000 coins went directly into circulation, where they were spent, worn, and lost over the following decades. Today, fewer than 5,000 examples are believed to survive in all grades combined.

For context: the 1881-S Morgan Dollar had a mintage of 12,760,000. The 1893-S had 100,000. That is not a misprint.

This example is graded VF20 by NGC: Very Fine, with moderate even wear on the high points and all major design elements clear and bold. The surfaces are the story here. Look at the steel-gray color on both sides. No cleaning. No polishing. No artificial toning. No damage. This is an original, problem-free 1893-S that has been honestly worn by the hands of history and preserved exactly as it left circulation. NGC agrees: VF20, straight grade, no qualifiers.

The "S" mint mark is clearly visible below ONE DOLLAR on the reverse, exactly where San Francisco collectors want to see it. The obverse shows Liberty with moderate even wear across the hair and cheek, the date 1893 bold and clear at the bottom. The reverse eagle is fully defined with honest wear across the high points of the wings and breast.

The 1893-S in any grade is a trophy. In VF20 with original surfaces and NGC certification, it is a coin that belongs in a serious collection: not a type set, not a date set, but a collection built around the most important coins in American numismatic history.

San Francisco Mint. .900 fine silver, 26.73 grams. NGC VF20, Cert #6853419-001.