Silver Dollars & Trade Dollars of the United States - A Complete Encyclopedia
Q. David Bowers
1883-0 Morgan: Market Values
1883-0 Morgan: Summary of Characteristics
Business Strikes:
Enabling legislation: As earlier, plus Act of February 28, 1878
Designer: George T. Morgan
Weight and composition: 412.5 grains; .900 silver,.100 copper
Melt-down (silver value) in year minted: $0.85754
Dies prepared: Obverse: 40; Reverse: 36
Business strike mintage: 8,725,000
Estimated quantity melted: Probably not more than a million or two under the Pittman, etc., acts. Additional coins were melted during the increase in silver prices in the late 1970s.
Approximate population MS-65 or better: 35,000 to 60,000 (URS-17)
Approximate population MS-64: 200,000 to 350,000 (URS-19)
Approximate population MS-63: 500,000 to 1,000,000 (URS-21)
Approximate population MS-60 to 62: 1,500,000 to 2,500,000 (URS-22)
Approximate population G-4 to AU-58: 1,000,000 to 1,600,000 (URS-22)
Availability of prooflike coins: Common PL and DMPL. Cameo contrast coins are more elusive.
Characteristics of striking: Striking varies. Many are weak at the centers, particularly the reverse, but with some looking, sharp pieces can be found.
Known hoards of Mint State coins: Bags were re-leased by the Treasury in 1938; during the 1962-1964 Treasury release of dollars large quantities of 1883-0 were released, well over one million coins.
Proofs:
An estimated 12 were struck for presentation or other purposes.
Commentary
This is one of the most common Morgan dollars in Mint State.
Additional Information
News of New Orleans
The Annual Report of the Director of the Mint, 1883, told of affairs at New Orleans during the past fiscal year and indicated that Director of the Mint Horatio Burchard felt that this mint was not of prime importance:
"The coinage of gold at this mint was inconsiderable, amounting to only $43,000. Standard silver dollars were struck of the value of $8,040,000, being over $3 million in excess of the coinage of the fiscal year 1882.
"This institution is of little local advantage, except that it furnishes a large amount of silver coin for circulation in the southern and southwestern states. The bullion used in its coinage is obtained from distant refineries."!