The 1893-S Morgan Dollar: Why It's One of the Most Valuable Coins in Existence
The 1893-S Morgan Dollar is widely regarded as one of the most valuable coins in existence, largely due to its extreme rarity and historical significance.
Struck at the San Francisco Mint, this coin was part of the final series of the Morgan Dollar, which was minted between 1878 and 1904.
The 1893-S Morgan Dollar stands out because only around 100,000 coins were minted, a number that makes it the scarcest coin in the series.
However, a significant portion of the mintage was lost to melting, further reducing the number of surviving specimens. The coin’s rarity is compounded by its initial poor reception by the public, leading to low demand at the time of its release.
As a result, the 1893-S Morgan Dollar didn’t circulate widely, and many of the few that remained were worn or damaged over the years.
Today, in its highest grades, it is considered one of the most coveted treasures among collectors, with prices reaching staggering amounts at auctions, depending on its condition.
Collectors seek out this coin not only for its rarity but also because it represents a key piece in the history of American coinage. The design itself, featuring the iconic portrait of Lady Liberty on the obverse and the eagle on the reverse, adds to its appeal.
With each surviving 1893-S Morgan Dollar, collectors are reminded of an era when the U.S. was experiencing profound changes in its economy and coinage system.