Product Description
Buy the 1892-S Morgan at our regular price and get the 1891-S FREE!
Aside from a handful of dates, the majority of surviving mint-state
San Francisco Morgans tend to be elusive and costly, but oftentimes choosing circulated grades – like these Very Fine specimens – can be a wallet-friendly choice for collectors.
In 1891, the San Fran Mint produced 5.3 million business strikes, but due to the overabundance of silver dollars already in circulation, much of the year's output was sent to storage and would later be lost in Uncle Sam's melting pot during the world wars. After the passage of more than 13 decades, experts estimate that of the original output, as few as 60,000 may survive in mint-state grades. Average 1891-S BU Morgans sell for over $400, which makes these well preserved Very Fine specimens an excellent alternative.
The next year's mintage was drastically lower – in 1892 a scant 1.2 million S-Mint Morgans were struck and, unlike the issue before, it seems that most were released into circulation. Much to the chagrin of collectors, no hidden cache would be found during the Treasury sales of the 1960s and today very few mint-state 1892-S examples are known to exist. The scarcity of this coin in Uncirculated grades means that when a specimen turns up for sale it comes with a prodigious price tag – in 2020 a Superb Gem MS-68 sold at auction for a massive $630,000! While most collector's pockets aren't that deep, the silver lining is that in clearly detailed Very Fine condition this San Francisco issue is reasonably affordable.
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