1893 $1 Morgan Dollar PCGS AU55

Key Features

1. Design:
   • Obverse: Features the iconic Liberty Head design by George T. Morgan, with Liberty wearing a Phrygian cap adorned with wheat and cotton.
   • Reverse: Displays a bald eagle with outstretched wings, holding arrows and an olive branch, symbolizing readiness for war and a desire for peace.
   • Inscriptions: “E PLURIBUS UNUM,” “UNITED STATES OF AMERICA,” and “ONE DOLLAR.”
2. Specifications:
   • Minted: 1893.
   • Composition: 90% silver, 10% copper.
   • Weight: 26.73 grams (0.7734 troy ounces of silver).
   • Diameter: 38.1 mm.
   • Edge: Reeded.
3. Mint Marks:
   • Produced at Philadelphia (no mintmark) and other mints such as Carson City (CC), New Orleans (O), San Francisco (S).
   • The Philadelphia mint (no mintmark) produced 378,000 coins, one of the lowest mintages for Morgan Dollars.

Grading and Condition

• PCGS AU55 (About Uncirculated 55) indicates:
  • Minimal wear on the highest points of the design.
  • Strong luster with most original details intact.
  • Light contact marks may be present but do not detract significantly from the coin’s overall appeal.

Historical Significance

• Economic Panic of 1893:
  • The 1893 Morgan Dollar was struck during an economic downturn, resulting in lower mintages across all mints.
  • Coins from this year are scarcer compared to other Morgan Dollar dates.
• End of the Morgan Series:
  • Production of Morgan Dollars temporarily halted in 1904 and resumed briefly in 1921 before being permanently replaced by the Peace Dollar.

Collectibility and Investment Appeal

1. Rarity:
   • The 1893 Philadelphia issue is one of the key dates in the Morgan Dollar series due to its low mintage and historical context.
2. Desirability:
   • Highly sought after by collectors assembling Morgan Dollar sets or investing in rare U.S. coinage.
3. Investment Potential:
   • Combines precious metal content with numismatic value, offering stability and growth potential.

Conclusion

The 1893 $1 Morgan Dollar PCGS AU55 is a valuable and historically significant coin, often regarded as a key date in the series. Its low mintage, high collector demand, and strong condition make it a prime collectible. Prices typically range between $900 and $1,200, with rarer mintmarks (like CC) commanding even higher premiums. For precise valuation, consult auction results or reputable coin dealers.