Q. David Bowers
Business Strikes:
Enabling legislation: As earlier, plus Act of February 28, 1878 and the Sherman Silver Purchase Act of July 14, 1890
Designer: George T. Morgan
Weight and composition: 412.5 grains; .900 silver, .100 copper
Melt-down (silver value) in year minted: $0.80927
Dies prepared: Obverse: Unknown, probably about 40; Reverse: 41.
Business strike mintage: 10,701,000 (8,721,000 un-der the Act of February 28, 1878 and 1,980,000 under the Sherman Silver Purchase Act); Delivery figures by month: January: 1,000,000; February: 1,000,000; March: 1,000,000; April: 1,000,000; May: 750,000; June: 700,000; July: 700,000; Au-gust:' 460,000 + 280,000; September: 150,000 + 700,000; October: 500,000 + 500,000; November: 500,000 +500,000; December: 961,000.
Estimated quantity melted: Probably millions under the 1918 Pittman Act.
Approximate population MS-65 or better: 1,000 to 2,000 (URS-12)
Approximate population MS-64: 10,000 to 18,000 (URS-15)
Approximate population MS-63: 40,000 to 70,000 (URS-17)
Approximate population MS-60 to 62: 60,000 to 100,000 (URS-17)
Approximate population G-4 to AU-58: 1,000,000 to 2,000,000 (URS-22)
Availability of prooflike coins: Such issues, many of which are DMPL, are estimated to exist to the extent of 25,000-50,000 (URS-16). Only about 3% of the extant DMPL coins are MS-65 or better.
Characteristics of striking: Usually seen flatly struck, but there are exceptions.
Known hoards of Mint State coins: Many bags were released by the Treasury over a period of years, especially 1962-1964
Proofs:
None
Commentary
The 1890-O is very common in lower Mint State levels but is very elusive MS-65, sharply struck.
Silver Dollar Distribution
The Annual Report of the Director of the Mint, 1890, gave the following information concernng distribution of silver dollars in the fiscal year ending June 30, 1890 in the New Orleans Mint: July 1, 1889, 5,090,418, coined during the fiscal year 12.3 million, total available for distribution 16,015,418.In the Carson City Mint June 30, 1890, 8,459,974, distributed 7,555,444.
Storing Silver Dollars in 1890
The Annual Report of the Director of the Mint, 1890, told of the condition of the New Orleans Mint:
"The mint at New Orleans works to some disadvantage as compared with the other coinage mints for the reason that the machinery is of very old style and pattern, and much of the apparatus is worn out or no longer fit for use; at least is very unreliable. In the coiner's department the machinery is run by a system of cog and miter wheels which impart a vibratory motion to the rolls.
«A new burglar-proof steel vault, with a capacity of 5,286 cubic feet, is in process of erection in connection with the mint at New Orleans. Owing to the peculiar condition of the foundation of the mint at New Orleans considerable preparatory work was necessary, consisting of removing stairs and second-story floor in west wing, bricking up openings of doors and windows, piling for foundation, brick work, concreting, etc. This preparatory work is nearly completed. Cost of preparatory work $4,782.00. Superintendent's commission of 5% $239.10. Total $5,021.10.
"The vault is to be steel-lined, 31 feet 11-1/2 inches long, 23 feet 5-1/2 inches wide, 11 feet 6-1/2 inches high, divided into six iron lattice compartments, with lattice door to each, a 4 foot 6 inch wide corridor through center, and a narrow walk, 2 feet wide, all around. Four of the compartments, 6 feet 2 inches by 11 feet 10-3/4 inches by 11 feet 6-1/2 inches. Two of the compartments, 6 feet 11 inches by 11 feet 10-3/4 inches by 11 feet 6-1/2 inches. Cubic contents of compartments, 5,286 cubic feet. The storage capacity for silver dollars will be: In boxes ($1,000 each) $15 million. In bags ($1,000 each) $22 million."