1892-S Morgan Dollar : History & Value

By Charles Morgan and Hubert Walker for CoinWeek Notes ….
 

The 1892-S Morgan Greenback was certainly one of a handful of dates within the Morgan Greenback collection the place most if not all the cash entered circulation. They had been sometimes nicely made, with full strikes. Mint State examples are few, however most that survive are lustrous and well-struck. Almost all Mint State survivors are toned to a point, typically sadly so.

The San Francisco Mint struck 1,200,000 Morgan {Dollars} in 1892, producing 100,000 items every month of the calendar yr.

* * *

Market Knowledge and Noteworthy Specimens

There have been no identified releases of the 1892-S Morgan Greenback from the Forties by way of the mid-’60s. This restricted the provision of Mint State cash. Nonetheless, the coin is taken into account frequent in circulated grades however uncommon in Mint State.

Supplier Harry W. Bason of New Hyde Park, New York, supplied 74 totally different date/mint mark Morgan {Dollars} in Good Uncirculated in a February 1951 advert in The Numismatist, itemizing 1892-S Morgan {Dollars} on the market for $12.50 a bit.

The present retail worth for a circulated instance is $75 for a worn specimen to about $500 in Further Positive. Mint State examples promote for tens to a whole lot of 1000’s of greenback every, relying on the grade.

Just one coin has been graded on the PCGS prime inhabitants grade of MS68 since not less than 2005. Via August 2012, PCGS licensed solely 5 cash at MS65 with 9 finer. As of October 2024, that determine stands at 4 cash at MS65 with 10 finer. Moreover, by way of August 2012, PCGS reported 66 Mint State grading occasions. That quantity has elevated to solely 70 within the years since. CoinWeek believes that this can be a coin with a secure Situation Census inhabitants.

Prime Inhabitants: PCGS MS68 (1, 3/2024), NGC MS67 (5, 10/2024), and CAC MS67 (3:0 stickered:graded, 10/2024).

• PCGS MS68 #07455547: Jack Lee #1; Jack Lee #2; “The Jack Lee Assortment, III,” Heritage Auctions, November 3, 2005, Lot 2309 – $322,000; “The Larry H. Miller Assortment,” Stack’s Bowers, November 12, 2020, Lot 6358 – $630,000.
• PCGS MS67+ CAC #02241206: Dr. George E. Bodway; Bodway to Ed Milas (RARCOA), by sale, August 1987; David Carter; Carter to George E. Bodway, by sale, October 1987; Bodway Set, on PCGS Tour; Jack Lee, 1994; Ralph Stone Assortment, by 1995. As PCGS MS67 CAC. “The Ralph and Lois Stone Assortment,” Sotheby’s, Could 2018, Lot 103 – $495,000; “The Vanderbilt PCGS Registry Set,” Legend Uncommon Coin Auctions, January 2020, Lot 310 – Handed. As PCGS MS67+ CAC #02241206. Heritage Auctions, August 24, 2022, Lot 3971 – $552,000. Vanderbilt on insert. Pedigree analysis assisted by Ron Guth / Heritage Auctions.
• PCGS MS67: “The Palm Seaside Assortment,” Heritage Auctions, January 2004, Lot 2120 – $126,500; “The Anne Kate Assortment,” June 27, 2012, Lot 3200 – $252,625. Coin has a muddy lilac-gold and teal all-over firming sample that we discover unattractive.
• NGC MS67 #3465763-001: As PCGS MS66 #6542479. Heritage Auctions, January 5, 2006, Lot 3319 – $230,000. As PCGS MS66 #10754255. “The Jackson Gap Assortment,” Heritage Auctions, April 9, 2007, Lot 76 – $189,750. Reholdered. Jackson Gap on insert. As NGC MS67 #1573869-001. Heritage Auctions, April 30, 2009, Lot 2628 – $195,500. Crossed to NGC and upgraded by one level. As NGC MS67 #3465763-001. Heritage Auctions, August 12, 2011, Lot 7328 – $184,000. Reholdered. Good with die crack by way of the bust truncation and the underside of the hair. One other by way of Liberty’s cap. A number of die cracks on the reverse. This certification quantity is now not lively.
• PCGS MS67 #13664092: J. Colvin Randall, March 1894; J.M. Clapp; John H. Clapp Property, to Louis Eliasberg, Sr., 1942; “The Eliasberg Assortment,” Bowers and Merena, April 1997, Lot 2290 – $132,000; “The Holding of Andy Hansen,” Heritage Auctions, Could 2001, Lot 6553 – $115,000; “The Arno Assortment,” Heritage Auctions, January 9, 2009, Lot 5012 – $460,000. This certification quantity is now not lively.
• PCGS MS66 #4871852: Heritage Auctions, January 9, 2020, Lot 4268 – $192,000. Previous Inexperienced Holder. Pale gold firming. Skinny die crack by way of the primary two digits of the date.
• PCGS MS66 #4069725: Heritage Auctions, April 25, 2002, Lot 4229 – $80,500. Darkly toned. This certification quantity is now not lively.
• PCGS MS65 #21249453: “The XSurgeon Set of Morgans NGC Registry #1,” Heritage Auctions, February 22, 2018, Lot 4053 – $192,000. Good.
• PCGS MS65 #06935350: Heritage Auctions, July 31, 2009, Lot 1174 – $126,500; “The Massive Sky Montana Assortment”, Heritage Auctions, January 7, 2010, Lot 2623 – $115,000. Stack’s Bowers, August 7, 2012, Lot 11529 – $127,500 Reserve Not Met. Darkly toned.
• PCGS MS65 #05700136: “The Dr. Volker Dube Assortment,” Heritage Auctions, February 24, 2005, Lot 7265 – $132,250. This certification quantity is now not lively.
• PCGS MS64+ #35821012: As PCGS MS64 #6582096. “The Carson Silver Assortment,” Heritage Auctions, July 31, 2009, Lot 1173 – $126,500. Mild champagne firming. There’s a darker firming spot within the hair. Die crack by way of the primary two digits of the date. Since this sale, the coin has been upgraded by one-half level and is imaged at PCGS CoinFacts.
• PCGS MS64 CAC #43947063: Stack’s Bowers, June 14, 2022, Lot 1471 – $162,000. Goldenrod firming all through, however most concentrated alongside the periphery. A darkish firming space on the eagle’s wing is on the higher left. This certification quantity is now not lively.
• PCGS MS64 CAC #37287289: As PCGS MS64 CAC #09567875. Heritage Auctions, June 2, 2006, Lot 2579 – $97,750. Legend Uncommon Coin Auctions, July 13, 2017, Lot 431 – $293,750; “The Woodford Assortment of Morgan and Peace {Dollars},” Heritage Auctions, January 10, 2019, Lot 4576 – $156,000. Goldenrod firming on the obverse and reverse. As PCGS MS64 CAC #37287289. “The Shucart Household Assortment (JCS),” Heritage Auctions, September 5, 2019, Lot 3838 – $192,000. JCS on insert. Dipped, now good. Die crack by way of D and the tip of the eagle’s wing at 11 o’clock.
• PCGS MS64 CAC: Naples II Assortment; Heritage Auctions, October 7, 2000, Lot 8399 – $59,800; Stack’s Bowers, August 7, 2012, Lot 11530 – $96,937.50. Brilliant with champagne tint. Eye enchantment is healthier than the PCGS MS65 supplied one lot earlier on the similar sale, which handed after having failed to satisfy the reserve.

* * *

Coin Specs

* * *