1896 $1 Morgan Dollar PCGS MS65

Key Features:

• Obverse:
  • The obverse displays Lady Liberty’s portrait, facing left, wearing a Phrygian cap with “LIBERTY” inscribed on her headband. Surrounding her profile are 13 stars representing the original states, with the motto “E PLURIBUS UNUM” above and the date “1896” below.
• Reverse:
  • The reverse features a bald eagle with outstretched wings, holding an olive branch and arrows, symbolizing peace and strength. The eagle is framed by the inscriptions “UNITED STATES OF AMERICA” and “ONE DOLLAR.” The reverse also includes the “IN GOD WE TRUST” motto above the eagle.
• Composition: 90% silver, 10% copper.
• Weight: 26.73 grams.
• Diameter: 38.1 mm.

Grade:

• PCGS MS65 (Mint State 65):
  • This MS65 grade places the coin in the high Mint State range, where it exhibits full original mint luster and only a few minor contact marks, none in focal areas. A Morgan Dollar graded MS65 is known for its sharp strike, especially on key design elements such as Liberty’s hair and the eagle’s feathers.

Historical Context:

• The Morgan Dollar Series:
  • The Morgan Dollar was minted following the Bland-Allison Act, which required the government to purchase silver to support the mining industry. This series, produced primarily for storage rather than circulation, was stored in vaults for decades, making many Morgans available in high grades even today.
• Economic Significance:
  • In 1896, the Morgan Dollar was largely held in reserve as the U.S. economy continued to recover from the Panic of 1893. These coins gained renewed interest during the 1960s when Treasury hoards were released, sparking a collectible market that has persisted.

Mintage & Rarity:

• Mintage:
  • The 1896 Morgan Dollar had a substantial mintage of 9,976,000 coins at the Philadelphia Mint, making it relatively common within the series. However, high-grade examples, especially MS65 and above, are highly collectible due to their visual appeal and quality.
• Rarity in High Grades:
  • While 1896 is relatively common, coins at MS65 and above attract attention for their exceptional luster and detailed design. This grade allows collectors to own a visually appealing, high-quality example without the high premiums associated with MS66 or MS67.

Market Appeal:

• Collector Demand:
  • Morgan Dollars in MS65 are popular with collectors for their combination of quality and relative affordability. An 1896 example in MS65 is ideal for those who want a top-grade coin with full detail and eye appeal, suitable for display or long-term investment.
• Investment Potential:
  • An MS65 Morgan Dollar, especially in more common dates like 1896, offers solid investment potential. These coins are stable in value, as collectors and investors both seek high-grade Morgans for their consistent market demand and historical significance.

Conclusion:

The 1896 $1 Morgan Dollar PCGS MS65 is a beautiful, high-grade example of one of America’s most beloved coins. Its MS65 grade ensures excellent detail, luster, and minimal marks, making it a standout in the Morgan Dollar series. This coin offers both aesthetic appeal and collectible value, making it a worthwhile addition for collectors and investors alike.