The 1903-S Morgan dollar had by far the lowest mintage for the date: only 1.2 million were struck for circulation. And just a tiny proportion of that limited number has survived to our day. Authoritative opinion estimates that as few as 20,000 may exist in the nicely detailed Very Fine quality we offer or in higher grading. Some early Morgan issues are up to 200 times as plentiful today. Mint-state specimens are so hard to find that they sell for several thousand dollars.