In 1886, the New Orleans Mint struck nothing but Morgan silver dollars. But relatively few seem to have been kept in storage or a phenomenally high proportion was lost in later melts. Today the 1886-O is genuinely rare in mint-state quality, with even average BUs retailing for about $2,000. And comparatively few circulated 1886-O Morgans survive today. In the Very Fine quality we offer or higher grades, as few as 1% of its original mintage are estimated to exist.