Q. David Bowers
1884-S: 125,000 to 250,000
1900-S: 125,000 to 250,000
1881-S: 100,000 to 200,000
1894-O: 100,000 to 200,000
1896-S: 100,000 to 200,000
1899-S: 100,000 to 200,000
1900-O/CC: 100,000 to 200,000
1900: 750,000 to 1,500,000
1902: 750,000 to 1,500,000
1899-O: 750,000 to 1,250,000
1900-O: 750,000 to 1,250,000
1903: 400,000 to 800,000
1904: 200,000 to 400,000
1904-S: 150,000 to 300,000
1891-CC: 90,000 to 170,000
1890-CC: 80,000 to 160,000
1894-S: 80,000 to 160,000
1892-CC: 75,000 to 140,000
1878-CC: 75,000 to 125,000
1901: 60,000 to 100,000
1878 7/0ther TF: 50,000 to 100,000
1885-S: 50,000 to 100,000
1887-S: 50,000 to 100,000
1892: 50,000 to 100,000
1882-S: 50,000 to 80,000
1878 7 TF, Third Reverse, SAF: 40,000 to 80,000
1902-S: 35,000 to 70,000
1888-S: 30,000 to 60,000
1892-S: 30,000 to 60,000
1895-O: 30,000 to 60,000
1903-S: 30,000 to 60,000
1889-S: 25,000 to 50,000
1886-S: 20,000 to 40,000
1893-O: 20,000 to 40,000
1893: 15,000 to 30,000
1883-CC: 12,500 to 25,000
1882-O/S: 10,000 to 20,000+
1887/6: 10,000 to 20,000
1880-CC: 10,000 to 20,000
1882-CC: 8,000 to 16,000
1887/6-0: 7,500 to 15,000+
1899: 6,000 to 12,000
1884·CC: 5,000 to 10,000
1894: 5,000 to 10,000
1895-S: 5,000 to 10,000
1893-CC: 4,500 to 9,000
1904-D: 4,000 to 8,000
1889-CC: 3,500 to 7,000
1881-CC: 3,500 to 6,000.
1879-CC Perfect CC: 3,500 to 5,000
1903-O: 3,000 to 6,000
1898-O: 2,500 to 5,000.
1885-CC: 2,000 to 4,000
1893-S: 2,000 to 4,000.
1879-CC Large CC over Small CC: 1,500 to 3,000
1879-S Second Reverse: 1,000 to 2,000
1895 (former Proof): 25·50
Rarity in MS-60 to 62 Grades
In the MS-60 through MS-62 category over half of the Morgan dollar date and mintmark varieties 'are very inexpensive, and another quarter of the list is apt to be fairly cheap as well. Only when you con-sider pieces toward the bottom of the list do they become expensive.
I have divided the list into segments by estimated minimum population (using the lower of the two figures given for each year) and herewith give some comments which I hope furnish you with some ideas:
The category containing the top eight varieties on the list includes coins that are all very' common. Each has an estimated minimum population in MS-60 to 62 grade of at least a million coins. They are very inexpensive at this level. As MS-63 coins are also inexpensive, you might want to ignore this and the next category or two in MS-60 to 62 and jump to :MS-63. Dealer estimates of the number of Mint State 1881-S dollars in existence have varied widely. I suggest two to four million at the MS-60 to 62 level, with lower numbers in higher grades, but other estimates have ranged as high as six to 10 million totally.
The second category is laden with 22 coins that are also very common. These have estimated mini-mum populations of from 250,000 to 750,000 pieces. With the exception of the Carson City issues, which always sell at a premium due to the great popularity of that western mint-all are apt to be very cheap=in the "generic" quality, to use a popular term. Inasmuch as most MS-60 Morgan dollars are quite bagmarked, my advice is to jump to the MS-63 list and check out these same varieties. If it is financially feasible, you should buy MS-63 pieces instead.
The third category comprising the next 14 varieties on the list contains coins that have estimated minimum populations in MS-60 to 62 grades of 100,000 to 200,000 specimens. Accordingly, none is rare. I offer the same purchase recommendation as for the preceding category.
The fourth category contains 27 coins that have estimated minimum populations of from 25,000 to 80,000 pieces. Some are slightly scarce. Still, none is expensive. If you can afford it, I suggest once again that you opt for MS-63.
The fifth category includes 11 varieties, each hav-ing estimated minimum populations from 6,000 to 20,000 coins. A number of these are scarce and/or expensive, particularly 1893-CC (which also is apt to be extensively bagmarked). At this level you maywant to buy MS-60 to 62 coins to go with the highergrade (such as MS-63) pieces recommended earlier,for now a very small difference in grade can oftenmake a very big difference in price.