Q. David Bowers
In the April 1963 issue of The Numismatist, Peachtree Coin Shop (Blaise J. Dantone) of Atlanta offered Uncirculated New Orleans Morgan dollars as listed below.
At the time there was a lively trade going on in these issues, especially the rarities that had fallen from their former lofty price perch. None oneknew whether the Treasury releases' were complete or whether untold millions more 1903-0 and other dollars were coming out. The general rule among dealers was to buy and sell quickly and not to hold. As it turned out, prices such as those charged by Harry J. Forman and Blaise]. Dantone during early 1963 represented nearly as low as such coins would get. As the year went on and ended, and 1964 began, it seemed evident that most of all New Orleans coins had been distributed. After that point,' prices started to rise.
1889-O Unc. $3.00.
1890-O Unc. $2.50.
1891-O Unc. $3.50.
1892-O Unc. $5.25.
1898-O Unc. $2.50.
1889-O Unc. $1.75.
1900-O Unc. $1.75.
1901-O Unc. $1.75.
1902-O Unc. $1.75.
1904-O Unc. $2.00.
Stack's sale of the Samuel W. Wolfson Collection, May 3-4, 1963, included these individual lots of Morgan dollars (other pieces of lesser valuegrouped in lots are omitted here).
1878 7 TF. Br. Proof, hairlined. $40.00.
1878 8 TF. Br, Proof. A nick on reverse edge. $77.50.
1879 Br. Proof, deep iridescent toning. $62.50.
1879-CC Br. Unc. $110.00.
1879-CC Br. Unc., duplicate of above. $95.00.
1880 Br, Proof, golden gray iridescent toning. $65.00.
1880-CC Br. Unc. $26.00.
1881 Br. Proof, a few minor hairlines. $37.50.
1881-CC Br. Unc., prooflike surface. $24.00.
1881-CC Br, Unc., satinlike surface. $26.00.
1882 Br. Proof $62.00.
1882-CC Br, Unc., prooflike surface. Usual bag abrasions. $13.00.
1882-CC Br. Unc., lovely satin like surface. $15.00.
1883 Br, Proof lightly toned about edges. Reverse some- what deeply toned. $64.00. .
1883-CC Br. Unc. $14.00.
1884 Br. Proof $65.00.
1884-CC Br. Unc. $17.00.
1885 Br. Proof $60.00.
1885-CC Br. Unc. $26.00.
1885-CC Br, Unc., similar to above. $20.00.
1886 Br. Proof, a few hairlines. $35.00.
1887 Br. Proof, deeply toned on reverse. $55.00.
1887-S, 1888-S Br. Unc. (Total: 2 pieces). $23.00.
1888 Br. Proof, deep iridescent toning. $90.00.
1889 Br. Proof, somewhat' toned. $55.00.
1889-CC Br. Unc., prooflike surface. Usual bagmarks, $350.00.
1889-S Br. Unc. $20.00 ..
1890-Br. Proof $105.00.
1891 Br. Proof $60.00.
1892 Br. Proof, superb iridescent toning. $80.00.
1892-CC Br. Unc, $30.00.
1892-CC Br. title., as above. $22.50.
1892.s Br. Unc:, usual bagmarks. $150.'00.
1892-S Br. Proof $90;00. '
1893-CC Br. Unc. Scarce. $87.50.
1893-CC Br. Unc. Scarce. $60.00.
1894 Br. Proof $80.00.
1894-S Br. Unc., bagmarks. $18.00.
1894-O Br. Unc. $21.00.
1895 Br. Proof. Minor surface blemish near second star and near nose does not take this coin out of the choice class. $2,250.00.
1895-S Br. Unc., choice. A few minor bagmarks. $140.00.
1896 Br. Proof $75.00.
1896-S Br. Unc., a few minor bagmarks. $50.00.
1897 Br. Proof $62.00.
1898 Br. Proof, lightly toned. $62.00.
1899 Br. Proof, a few hairlines. $60.00.
1900 Br. Proof $70.00.
1901 Br. Proof $70.00.
1901-S Br. Unc. $18.00.
1902 Br. Proof, lovely iridescent toning. $67.50.
1902-S Br. Unc. $19.00.
1903 Br. Proof $65.00.
1903-S Br. Unc., almost free of bagmarks. $70.00.
1904 Br. Proof, a mottled iridescent toning. $65.00.
1904-S Br. Unc., quite choice. $61.00.
1921 Br. Proof. Does not have the two-tone effect as the earlier Proofs, but has Proof surface and sharpness of strike. $150.00.
In the January 1964 issue of The Numismatist, Steve Ruddel, of Washington, D.C., ran the following landmark advertisement, a commentary on the silver dollar situation at the time.
"RARE" SILVER DOLLARS
MAY SOON BREAK IN YOUR AREA
A total of 40 million unsorted silver dollars still remain in Mint vaults and all will probably be distributed within the next few months. Although it is unknown exactly what dates will be found, our confidential sources indicate very few common dates are left. There are still a wide variety of good dates from all mints including CC and Liberty Seated to come. Since our last writing! the following dates have been released: 1878, 1879-O, 1880-O, 1880-S, 1881-O, 1881-S, 1882-O, 1882-S, 1883-O, 1885-O, 1885-S, as well as all the early P mints. These are more or less common dates but show a good indication of what's to come.
Last year about this time eastern dealers were able to obtain the formerly rare 1898-O, 1902-O, 1903-O, 1904-O among others from their banks. Several months later banks in Montana got mint bags of 1897-P, 1899-P and many other dates. California and Nevada received similar dates a month later. The releasing of "rare" dollars is nothing new. It began some nine years ago with the release of approximately 50 bags of each date of the CC mint with exception of 1879-CC, 1889-CC and 1893-CC. It is thought that these bags are still to come.