At one point in history, the 1903-O Morgan Dollar (Buy on eBay) was viewed as one of the great rarities of the series. Despite the mintage of 4,450,000 pieces, virtually no examples were to be found within collections and price levels were extremely high. This situation would completely change in November 1962 when sealed bags filled with hundreds of thousands of 1903-O Silver Dollars were released from Treasury vaults. Premiums for the issue immediately collapsed, as pristine uncirculated examples flooded the market.
This story is widely recounted, along with tales of other previous rarities which became more common as long held hoards were released into circulation. This is part of the intriguing nature of the Morgan Dollar series, whereby both mintage and distribution play a role in determining rarity.
For contemporary collectors, examples of the 1903-O Silver Dollar graded MS65 can be acquired for less than $500. The finest known examples, which are graded MS67, will cost around $3,000 to $4,000 depending on quality.
1903-O Morgan Dollar Mintage and Specifications
- Mintage: 4,450,000
- Mint Mark: O (New Orleans)
- Composition: 90% silver, 10% copper
- Weight: 26.73 grams
- Diameter: 38.1 mm
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