FREE: RARE 1889-P Morgan Silver Dollar UNCIRCULATED PL MS64+

1889-P Morgan Silver Dollar PL BU Proof Like Mint State Uncirculated

The 1889 Morgan dollar had the second highest mintage ( 21.7 million) of all the Morgan dollars. This is due to so many being melted by order of the Pitman Act of 1918 and again in the mid 1970's as the Hunt Brothers of Texas tried to corner the silver market. The high mintage yet low availability of higher grade coins make the 1889 a bit of a sleeper coin in MS65.

While the official reasons are sketchy at best, most attribute the poor quality of this Philadelphia minted coin to the over use of the dies in producing so many coins. As a result of not changing the dies often enough, weakly struck coins were produced that simply did not hold up. Keep in mind the Mint State (MS) coins did not even have to hold their quality & character through long periods of circulation. MS 64 & MS 65 implies these coins were NEVER in circulation, but have been held these 123 years in some vault at the Federal Reserve bank, or the Treasury, or have been in someone's coin collection the majority of the time, etc..
Just 2% of this historic issue may survive in mint-state quality today. No other U.S. Morgan dollar was so affected by government melts during the world wars.

Brilliant Uncirculated specimens boast the same luster as when newly released in 1889 by the principal (no-mintmark) Philadelphia Mint. And show absolutely no wear (some bag marks will be present, as is normal).

You are bidding on the coin AND the holder.

$ Value= 99.00-160.00 minimum (MS64+)

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