This listing offers a 1886 U.S. Morgan Dollar CERTIFIED by PCGS as MS63 (Mint State 63)

The Morgan Dollar was designed by George T. Morgan and minted from 1878 through 1921 at the Philadelphia, Carson City, Denver, New Orleans and San Francisco Mints.

The Morgan Dollar Silver Coin is composed of 90% silver and 10% copper and contains a total of 0.77344 troy ounces of fine silver. It was struck at the Philadelphia Mint and weighs 26.73 grams with a diameter of 38.1 mm.

Rainbow-Toned Morgan Dollars…

An 1881-S Morgan Dollar graded PCGS MS67+ and bearing a price guide value of $1,100 realized $19,387… A PCGS MS65 1885-O in MS65 with a price guide listing of $250 brought $8,812.50. It’s not inflation! The drama of the prices at the recent Central States Numismatic Society Convention in Illinois was matched only by the dazzle of the coins themselves. Colorfully toned Morgan Dollars, with surfaces oxidized just enough to radiate an electrified, oversaturated version of the polychromatic patination of a fine silverware set long untouched, have always catalyzed heart rates and bidder paddles.

“Rainbow” toning can arise from prolonged exposure to any of a multitude of reactive environments. Wayne Miller’s Morgan and Peace Dollar Textbook, the authoritative reference on the series, includes several color plates illustrating spectacular examples. The most vividly hued Morgan Dollars, like the 1886 pictured above, are those which were toned as a result of being stored in the sulfur-rich canvas bags (each containing 1,000 pieces) used by the United States Mint. The enormous outputs demanded by the Bland-Allison Act resulted in large quantities of coins – most notably San Francisco issues from the early years of the series – remaining untouched in government vaults for decades. The release of the Continental Bank Hoard in 1982 spurred interest by bringing many choice pieces to the market. The “textile” pattern seen on the face of some pieces mirrors the thickly woven fabric of the bag.

More complex, geometric patterns arise from long-term storage against the folded, sulfur-rich ends of a paper coin roll. A PCGS MS66+ 1888-O was famously featured on the poster for a Mid-America Coin Auctions sale in 1988. In 2014, it realized $20,562.50, still a record price for any example of the date.    –   By Kyle Clifford Knapp – August 1, 2022  – PCGS