Silver Dollars & Trade Dollars of the United States - A Complete Encyclopedia
Q. David Bowers
1882 Morgan Dollar
Numismatic Information
Hoard coins: Mint State coins have been common for many years, even before the Treasury release of 1962-1964. Many of this date were stored at the Philadelphia Mint and also by the Federal Reserve System. However, by now it is probably the case that most original mint-sealed bags have been broken open and dispersed.
Circulated grades: The 1882 dollar is very common in worn grades, and relatively little numismatic attention is paid to it. Many were melted in the 1970s during the run-up in silver bullion prices. At the time there was virtually no numismatic demand for a worn 1882 dollar.
Mint State grades: Most Mint State coins are in the range of MS-60 to MS-63. Such coins are apt to show numerous bagmarks from long-time storage and moving in bags.
At the MS-64 level, 30,000 or more exist. Only in MS-65 or better grade does the business strike 1882 Morgan dollar become scarce; only about 3,500 to 5,000 are estimated to remain.
The typical 1882 dollar is apt to have an average to above average strike, but quality varies; weakly defined specimens also exist. Once again, this is an issue which the buyer should cherrypick for quality.
Prooflike coins: Semi-prooflike coins are found with some frequency on the market, but true prooflike coins are scarce. Most of the latter have little contrast between the devices and the fields. Probably, 2,500 or more remain, mostly in lower grades. When found, prooflike coins are apt to be heavily bagmarked. DMPL coins are slightly less often found. Only a few in each category are in grades of MS-65 or higher.
Varieties
Business strikes:
1. Normal date: Breen-5565. Most of the 56 obverse and 58 reverse business strike dies were probably used. Filled 2 (VAM-IB) is much less common than clear 2; open 2 (knob and tail free of middlestroke) is much less common than closed 2 (knob andtail touch middle stroke). At least 10 obverses show partly or wholly repunched dates. 19 business strike varieties are described by VAM.
Proofs:
1. Normal date: Two pairs of Proof dies, VAM-10 (82 in date doubled) and dies unidentified in the literature, were used. Most Proofs have nice cameo contrast.
