Morgan mintages peaked in the late 1880s, when the Philadelphia Mint was turning out about 20 million per year. Does that mean that these dates are the most common today in Brilliant Uncirculated quality? No, far from it! Vast numbers were held in storage and later melted during the world wars. Today as few as 3% of these 1887 and 1888 no-mintmark Morgan issues original mintages are estimated to remain in mint-state quality. You could pay more for some earlier Morgan issues thought to be up to eight times as plentiful in BU quality!