Although common in circulated grades, the 1886-O Morgan Silver Dollar (Buy on eBay) is extremely rare in higher uncirculated coins. Even though this issue had a high mintage of 9,185,000 coins, most of this amount was either released into circulation or melted, leaving few high grade examples for collectors.
Coins graded MS65 and higher are extremely scarce. The grading service PCGS has only graded three coins as MS65 and amazingly one coin MS67 DMPL. The other top grading service NGC has not graded any coins MS65 and has certified one single coin as MS66. The MS67 DMPL example sold in 1990 for $231,000, but would no doubt bring a much higher price currently. The last MS65 graded example sold for $149,500 in July 2009.
1886-O Morgan Dollar Mintage and Specifications
- Mintage: 10,710,000
- Mint Mark: O (New Orleans)
- Composition: 90% silver, 10% copper
- Weight: 26.73 grams
- Diameter: 38.1 mm