The 1904-S Morgan Dollar is one of the scarcer issues of the series. A large proportion of the original mintage of 2,304,000 pieces was melted, leaving fewer examples for collectors.
This issue commands a premium across all grade levels, but it is most pronounced in grades EF-40 and higher when supplies become smaller and demand becomes greater. The two major services PCGS and NGC have graded about 150 examples in gem condition, although this would likely include some resubmissions. The number of coins graded higher is minimal with just over a dozen pieces graded MS66 and three examples graded MS67.
One of the finest known 1904-S Dollars graded PCGS MS67 sold for $46,000 at an auction held in January 2009.
1904-S Morgan Dollar Mintage and Specifications
- Mintage: 2,304,000
- Mint mark: S (San Francisco)
- Composition: 90% silver, 10% copper
- Weight: 26.73 grams
- Diameter: 38.1 mm