1898-O $1 Morgan Silver Dollar NGC MS67+ (CAC) - A Condition Rarity!

1898-O $1 Morgan Silver Dollar NGC MS67+ (CAC)--$6,400.00 "Conditional Rarity"

      We at AUCM are pleased to present for your consideration a great conditional rarity in the ever-popular Morgan dollar series: 1898-O NGC MS67+ (CAC). This truly stunning coin is everything the discriminating silver dollar collector wants: booming luster, superior grade--plus the CAC sticker! This piece would be perfect in an exclusive assortment of highly-graded silver dollars, or in a complete set of Mint State Morgan dollars.

      If you were collecting uncirculated Morgan dollars in September 1962, your want list would have included the 1898-O. At the time, it was considered among the greatest rarities that emanated from the New Orleans mint. If you found a single one, it would have cost $300-$400, or even more! The Red Book of that year gave it a value of $300, double that of the 1889-CC! A bag of 1898-O Morgan dollars--if one was to be found in 1962--would have set you back around $300,000! That was double the price of a bag of 1889-CC silver dollars. The only examples known before that time were in a few bags that came out of storage at the Treasury in Washington, D.C. in the 1940s and early 1950s, most of which went into circulation.  David Bowers tells us, "In October 1962, the rarity status of the 1898-O...changed, and with it changed the face of American numismatics. From deep within the vaults of the Philadelphia Mint, where millions of New Orleans dollars had been stored since...1929, came a cascade of bright, sparkling 1898-O dollars....[They were] Distributed through the Federal Reserve System....Before long, they were coming out in many places....within a few months a bag of 1,000 1898-O dollars was worth not $300,000, but in the $1,200 range!"