1878-S $1 Morgan Dollar PCGS MS63

Key Features:

• Obverse:
  • The obverse features Lady Liberty facing left, wearing a Phrygian cap, symbolizing freedom, with the word “LIBERTY” inscribed on a ribbon around her head. The design is detailed, including cotton bolls and wheat stalks in her hair, representing American agriculture.
  • Around the edge of the coin are 13 stars, the motto “E PLURIBUS UNUM” (Out of Many, One), and the date “1878” at the bottom.
• Reverse:
  • The reverse shows a beautifully detailed bald eagle with outstretched wings, clutching arrows and an olive branch in its talons, symbolizing readiness for war and a preference for peace.
  • Above the eagle’s head is the motto “IN GOD WE TRUST”, while around the edge are the inscriptions “UNITED STATES OF AMERICA” and “ONE DOLLAR”.
  • The “S” mintmark below the wreath indicates that the coin was struck at the San Francisco Mint, known for its high-quality coin production.
• Composition: 90% silver, 10% copper.
• Silver Content: 0.77344 troy ounces of silver.
• Diameter: 38.1 mm.
• Weight: 26.73 grams.

Grade:

• PCGS MS63 (Mint State 63):
  • A coin graded MS63 is considered Mint State, meaning it is uncirculated and has no wear from circulation. An MS63 coin will have full mint luster and a good overall appearance, though it may display some noticeable contact marks or surface abrasions. These marks are generally minor and do not significantly detract from the overall eye appeal of the coin.
  • The San Francisco Mint is known for producing sharper strikes, so even in MS63, you can expect a coin with strong details, particularly on Liberty’s hair and the eagle’s feathers.

Historical Context:

• The Morgan Dollar was introduced in 1878 following the passage of the Bland-Allison Act, which required the U.S. Treasury to purchase large amounts of silver to be minted into coins. This series of dollars was named after its designer, George T. Morgan, and became one of the most widely collected U.S. coins.
• The 1878-S Morgan Dollar was struck in the first year of this series, making it highly significant historically. San Francisco, known for its skilled minting processes, produced many well-struck examples, adding to the desirability of the coin.

Mintage & Rarity:

• The total mintage of the 1878-S Morgan Dollar was approximately 9,774,000, making it relatively common in lower grades but scarcer in higher Mint State grades like MS63 and above.
• In MS63, the coin is desirable for its quality and is a solid option for collectors looking for a well-preserved, early Morgan Dollar without paying the premium attached to higher grades like MS64 or MS65.

Conclusion:

The 1878-S $1 Morgan Dollar PCGS MS63 is a beautiful coin that appeals to collectors due to its historical significance as part of the first year of Morgan Dollar production, combined with the high quality of the San Francisco Mint’s work. In MS63, this coin offers strong luster, minimal wear, and good overall eye appeal, making it a desirable and affordable option for both collectors and investors interested in early U.S. silver coinage.