Q. David Bowers
Business Strikes:
Enabling legislation: Act of February 28, 1878, plus 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: $0.40835
Dies prepared: Obverse: 20; Reverse: 7.
Business strike mintage: 1,530,000; Delivery figures by month: January: none; February: none; March: none; April: none; May: none; June: none; July: none; August: none; September: 500,000; October: 510,000; November: 520,000; December: none.
Estimated quantity melted: Not known, but probably at least half of the mintage (approximately 750,000 coins) was destroyed under the 1918 Pittman Act.
Approximate population MS-65 or better: 700 to 1,400 (URS-11)
Approximate population MS-64: 4,000 to 8,000 (URS-11)
Approximate population MS-63: 9,000 to 16,000 (URS-15)
Approximate population MS-60 to 62: 25,000 to 40,000 (URS-16)
Approximate population G-4 to AU-58: 35,000 to 70,000 (URS-17)
Availability of prooflike coins: Very rare, but not desirable as most are on striated planchets.
Characteristics of striking: Varies from weak to sharp. Many Mint State pieces show heavy striations.
Known hoards of Mint State coins: Bags were released by the Treasury in the 1950s and in 1962-1964.
Proofs:
None
Commentary
The 1902-S is about as scarce in worn grades as in Mint State.
Distribution of Dollars
The Annual Report of the Director of the Mint, 1902, told of the distribution of silver dollars: San Francisco: In mint June 30, 1901,55,977,333; transferred from Treasury for storage, 150,000; coinage, fiscal year 1902, 436,000; total, 56,563,333; in mint June 30, 1902, 55,804,122; distributed from mint, 759,211.