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: $0.41960
Dies prepared: Obverse: Unknown; Reverse: Unknown.
Business strike mintage: 1,241,000; Delivery figures by month: January: none; February: none; March: none; April: none; May: none; June: 500,000; July: none; August: 74,000; September: 108,000; October: 232,000; November: 99,000; December: 228,000.
Estimated quantity melted: Probably hundreds of thousands under the 1918 Pittman Act; others in various later melts.
Approximate population MS-65 or better: 400 to 800 (URS-10)
Approximate population MS-64: 1,000 to 2,000 (URS-12)
Approximate population MS-63: 1,500 to 3,000 (URS-12)
Approximate population MS-60 to 62: 1,000 to 2,000 (URS-12)
Approximate population G-4 to AU-58: 30,000 to 60,000 (URS-16)
Availability of prooflike coins: Exceedingly rare.
Characteristics of striking: Usually very sharp. Known hoards of Mint State coins: Mint State coins (of the Large S variety) are from Treasury releases, including a dispersal in November 1953. Populations of the several over-hub varieties remain to be studied.
Proofs:
None
Commentary
In Mint State the 1903-S is one of the rarest Morgan dollars. Curiously, the 1903-S is rarer MS-60 than MS-63.