Silver Dollars & Trade Dollars of the United States - A Complete Encyclopedia
Q. David Bowers
1886-0 Morgan: Market Values
1886-0 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: $0.769 Dies prepared.' Obverse: 40+; Reverse: 40+
Business strike mintage: 10,710,000; Delivery figures by month: January: 900,000; February: 900,000; March: 900,000; April: 900,000; May: 900,000; June: 900,000; July: 600,000; August: 900,000; September: 910,000; October: 900,000; November: 1,000,000; December: 1,000,000.
Estimated quantity melted: Probably 6,000,000 to 8,000,000 were melted, probably under terms of the 1918 Pittman Act.
Approximate population MS-65 or better: 1 to 3 (URS-1)
Approximate population MS-64: 125 to 250 (URS-9)
Approximate population MS-63: 1,000 to 2,000 (URS-12)
Approximate population MS-60 to 62: 5,000 to 10,000 (URS-l4)
Approximate population G-4 to AU-58: 175,000 to 350,000 (URS-19)
Availability of prooflike coins: Prooflike coins are very rare, and those that are seen are apt to be in lower grades, poorly struck, and with many bagmarks. However, a few sharply struck cameo DMPL coins in higher grades are known, the fin-est of which is MS-67 DMPL.
Characteristics of striking: Usually weakly struck Known hoards of Mint State coins: None of significance existing today.
Proofs:
None
Commentary
Despite a high mintage, the 1886-O ranges from common and cheap in low grades to unexpectedly rare and expensive in high grades. Gems are practically unobtainable.