The following post is pulled from Coin World editor Steve Roach’s Market Analysis column in the Oct. 27 issue.

Few coin series have as broad collector interest as Morgan silver dollars. Like fans of any long-running series with many date and Mint mark combinations, collectors often specialize while others just want a single example for type purposes. One area that experiences huge demand and often crazy auction results can be found in toned Morgan dollars. Especially on high-grade Mint State coins, some Morgan dollars have spectacular rainbow toning and when these coins are offered at auction, it’s anyone’s guess as to what they’ll bring. Here are three from Bob Simpson’s Sunnywood Collection that soared at Legend’s Oct. 2 Regency auction in Las Vegas, Nev:

• History of the 1881 Morgan Silver Dollar The year 1881 saw the fourth mintage of the Morgan silver dollar. The 1881 Morgan silver dollar is unique among many U.S. Coins in that it was minted in four separate locations: Philadelphia, San Francisco, New Orleans, and Carson City. The Philadelphia mint reports producing 9,163,975 in 1881.
• Type: Morgan Silver Dollar Year: 1881 Mint Mark: S Face Value: 1.00 USD Total Produced: 12,760,000 Silver Content: 90% Silver Weight: 0.7735 oz. Silver Melt: $20.68.

1881-S Morgan dollar, MS-68+, CAC, $45,825

The 1881-S Morgan dollar is the quintessential type dollar as it’s widely available in high grades up to and including Mint State 67. In MS-68 it’s scarce, and while a handsome untoned example in this grade might cost $5,000, or so, at auction, when the example is magnificently toned, all bets are off.

Value of 1881 Morgan Silver Dollar The 1881 Morgan silver dollar was struck in large quantities at the Philadelphia mint. Quite a few bags were released in the 1950s and 1960s; indeed, so many that in 1955 one dealer offered rolls of 20 Uncirculated coins for $25, equivalent to $1.25 per coin. Today, circulated specimens are very common.

On Oct. 2, one graded by Professional Coin Grading Service MS-68+ with a green Certified Acceptance Corp. sticker indicating quality within the grade brought $45,825; the presale estimate of $25,000 to $27,500 proved irrelevant. The magnificent dollar was described as follows: “Considered by some enthusiasts to be the ultimate finest toned Morgan known to the collecting community, this paradigm of perfection features rich vibrant banded rainbow toning over essentially flawless and highly lustrous surfaces.” If that wasn’t enough, it was the star of an ANACS marketing campaign as it was once housed in an ANACS MS-68 holder, and is used by PCGS in its marketing, too.

1881 Silver Dollar Value Morgan Silver Dollar

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