In similar fashion to the prior year issue from the same mint, the 1882-O Morgan Dollar (Buy on eBay) had a relatively abundant mintage of 6,090,000. Some of these pieces circulated around the time of issue, while others were retained.
Generally speaking, this date is found poorly produced with a weak strike and dull luster. This factors serve to limit the number of examples found in grades gem and higher. Premiums jump at the MS65 grade level to around $800 or more. Coins graded higher are scarce, although astoundingly there is one piece graded PCGS MS68 from the Jack Lee Collection. This coin most recently released $46,000 at an auction held in January 2009.
A noted variety for this issue is the 1882-O “O over S” Morgan Dollar, which shows the remnants of the underlying mint mark. This variety is extremely rare in grades MS64 and MS65, driving a substantial premium.
1882-O Morgan Dollar Mintage and Specifications
- Mintage: 6,090,000
- Mint Mark: O (New Orleans)
- Composition: 90% silver, 10% copper
- Weight: 26.73 grams
- Diameter: 38.1 mm