In 1889, the San Francisco Mint produced a relatively low 700,000 Morgan dollars. Most issues were placed directly into storage. Early in the 20th century this issue was considered one of the great rarities in the series, difficult to find in any grade. Many were later found in Treasury bags released in the 1930's and 1940's, but it's estimated that today less than 10% of the original mintage may survive in mint-state quality. Our Brilliant Uncirculated quality has nice original luster and no sign of wear (some bags marks are present, as is normal).