1880-O $1 Morgan Silver Dollar NGC MS65

The 1880-O Morgan dollar is rarely offered in this lofty grade. This piece carries the Micro O mintmark. No numerically finer examples are reported at NGC, while PCGS lists only three numerically finer coins. This specimen exhibits a bold strike and brilliant, radiant mint luster. A few faint field marks are seen, but the overall eye appeal is exceptional. It is housed in a Ken Bressett signed holder with a Red Book label. NGC has graded 26 examples as MS65 with one finer (MS65+). Collectors Universe prices this issue at $15,000.00 in MS65.

The New Orleans Mint, in a postcard dated 1907, where this rarity was struck in 1880. Photo: Wikimedia Commons.

The 1880-O Morgan dollar had a mintage of over 5.3 million coins, though a considerable number were placed into circulation at the time of issue. Furthermore, many of the coins from storage that were distributed in later years were coins that had moved back to the mint after a short time in circulation. This was the origin of the so-called "mixed bags" released during the mid-20th century, which contained coins of various dates. Michael Standish discusses the 1880-O in Morgan Dollar - America's Love Affair With a Legendary Coin:

"Another thing to keep in mind is that the 1880-O is an issue with a lot of About Uncirculated sliders. The New Orleans Mint did a great job distributing their coins, but the unwieldy silver dollars found their way back to the Treasury with minimal use. Numerous mint-sewn bags filled with AU coins have turned up over the years, which make Uncirculated coins premium in the MS-62 through MS-64 range."