Description |
Extremely Rare 1897-O Morgan Silver Dollar is 26.73g of 90% Silver, New Orleans minted 4,004,000. Consignor graded as "Choice Slightly Prooflike" condition. From the internet: " A few bags of 1897-O dollars came on the market in the East, in the greater area comprising New Jersey, eastern Pennsylvania, and southern New York, in the late 1940s and again in the early 1950s. These were from storage in the Treasury Building in Washington, D.C. There was little investor interest at the time. It has been said that a few bags of 1897-O dollars were part of the Treasury release of 1962-1964, from storage in a sealed vault at the Philadelphia Mint, but I have found no specific record of them. Harry J. Forman, who never handled a bag of 1897-O dollars, reported that New York dealer Joel Coen is said to have had 10 rolls, perhaps from the 1962-1964 distribution. Other 1897-O dollars turned up in quantity through the branch of the Federal Reserve Bank in Helena, Montana, but these were lightly circulated coins mixed in with "slider" 1894-O, 1895-O, and 1896-O pieces. A bag of 1897-O dollars was reportedly stolen from LaVere Redfield in 1963 (Miller, p. 6). The 1897-O issue is not one to have attracted much attention, for the typical piece is lightly struck and unattractive. Once again, the New Orleans Mint workers were just doing their job: turning out massive quantities of dollars, without regard to quality. Circulated grades: The 1897-O is readily available in worn grades up through and including AU-58, although it is not among the most common in the series. Mint State grades: Mint State coins are somewhat scarce in comparison to later New Orleans Mint dollars. While roll quantities were on the market in the 1960s, by 15 to 20 years later these were mostly if not entirely dispersed. Today, Mint State 1897-O dollars are apt to be seen one at a time, and in lower levels such as MS-60 to 62, in which category an estimated 5,000 to 10,000 exists. At the MS-63 level 1897-O is rare; 400 to 800 survive. In MS-64 only 80 to 150 exist, and in MS-65 about 50 to 100. Most 1897-O Morgan dollars are poorly struck with unsatisfactory luster. Sharply struck pieces do survive, however, and are worth a premium when found. Once again, cherry picking is advised. In sharply struck MS-65 grade the 1897-O is among the rarest Morgan issues. The Morgan dollar was a United States dollar coin minted from 1878 to 1904, and then again in 1921. It was the first standard silver dollar minted since production of the previous design, the Seated Liberty dollar, ceased due to the passage of the Coinage Act of 1873, which also ended the free coining of silver. The coin is named for its designer, United States Mint Assistant Engraver George T. Morgan. The obverse depicts a profile portrait representing Liberty, while the reverse depicts an eagle with wings outstretched."
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Tag Words: Numismatics, Coins, Currency, Money, Collectable, Investment, Financial, Retirement, 1897O, 1897 O
Z67 39-279 SWW
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