Key Features:
- Designer: George T. Morgan
- Obverse: Features a left-facing profile of Lady Liberty, wearing a Phrygian cap with the word “LIBERTY” inscribed on a ribbon, along with the words “E PLURIBUS UNUM” above and the date “1878” below.
- Reverse: Depicts a bald eagle with outstretched wings, holding arrows and an olive branch, symbolizing strength and peace. The inscription “UNITED STATES OF AMERICA” and the denomination “ONE DOLLAR” appear around the design. The “S” mintmark for the San Francisco Mint is located beneath the wreath and above the “D” in “DOLLAR.”
- Composition: 90% silver, 10% copper.
- Silver Content: Approximately 0.7734 troy ounces of pure silver.
- Diameter: 38.1 mm.
- Weight: 26.73 grams.
Grade:
- PCGS MS64 (Mint State 64):
- MS64 is a high-grade for uncirculated coins, meaning the coin is in near-perfect condition with only minor imperfections, such as small contact marks or slight abrasions, visible under magnification. These marks are typically in non-focal areas, so the coin still has an attractive overall appearance.
- Coins in MS64 condition often exhibit good luster and eye appeal, though not quite at the level of higher grades like MS65 or MS66.
Historical Context:
The Morgan Dollar was minted from 1878 to 1921 and is one of the most iconic and widely collected coins in U.S. history. The San Francisco Mint is known for producing high-quality strikes, which adds to the desirability of an 1878-S example.
Market Appeal:
The 1878-S Morgan Dollar in MS64 condition is a sought-after coin among collectors. Given its first-year-of-issue status, historical significance, and the high quality of the strike, it typically commands a premium. Coins in MS64 condition offer a great balance between affordability and quality, making them popular with collectors seeking coins with excellent eye appeal at a reasonable price.
VF-20 Very Fine- Two thirds of hair lines from top of forehead to ear visible. Ear well defined. Feathers on eagle’s breast worn.
EF-40 Extremely Fine- All hair lines strong and ear bold. Eagle’s feathers all plain but with slight wear on breast and wing tips.
AU-50- About Uncirculated- Slight trace of wear on the bust shoulder and hair left of forehead, and on eagle’s breast and top edges of wings.
MS-60 Uncirculated-Â No trace of wear; full mint luster present, but may noticeably marred by scuff marks or bag abrasions.
MS-63 Choice Uncirculated-Â No trace of wear; full mint luster; few noticeable surface marks.
MS-64 Uncirculated-Â A few scattered contact marks/ Good eye appeal and attractive luster.
MS-65 Gem Uncirculated-Â Only light, scattered contact marks that are not distracting. Strong luster, good eye appeal.
PF-63 Choice Proof-Â Reflective surfaces with few blemishes in secondary focal places. No major flaws.
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