Struck at the San Francisco Mint during the height of the Morgan Dollar era, the 1893-S holds the lowest mintage of the entire series, making it the undisputed key to completing a business-strike Morgan set.
Coin Highlights
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Denomination: $1 Silver Dollar
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Date: 1893-S
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Mintmark: San Francisco (S)
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Grade: PCGS G04 (Good-4)
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Composition: 90% Silver, 10% Copper
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Weight: 26.73 grams
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Diameter: 38.1 mm
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Designer: George T. Morgan
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Mintage: 100,000 (Lowest in the Series)
Historical Significance
The 1893-S Morgan Dollar was struck during the economic turmoil of the Panic of 1893, a severe financial crisis that impacted silver coin production and circulation. With a mintage of only 100,000 pieces, many were released into commerce and heavily circulated.
Unlike other low-mintage Morgan Dollars that were saved in Treasury vaults, very few 1893-S dollars were preserved in Mint State. As a result, even well-worn examples—like this PCGS G04—are highly prized and represent an attainable entry point into owning the series key.
Collectibility
The 1893-S is the cornerstone of any Morgan Dollar collection. Without it, a complete date-and-mint set is impossible. Demand consistently exceeds supply across all grades.
Good-4 examples remain strong performers because:
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It is the key date to the series
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Authentic examples are widely counterfeited, making PCGS certification critical
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Collector demand remains steady regardless of silver price fluctuations
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It represents one of the most important 19th-century U.S. coin issues
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