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The 1904-O Morgan Silver Dollar occupies a distinctive place as the final New Orleans Mint issue of the classic Morgan series. Struck during a period when silver dollars were produced largely for storage rather than circulation, many examples survived with strong mint luster and bold devices, giving the issue an appealing balance of history and eye appeal.
In PCGS MS-65, the coin typically displays satiny to frosty surfaces with scattered bag marks that reflect its storage in Treasury vaults rather than time in commerce. PCGS reports 14,597 examples graded MS-65, with just 2,011 certified finer, making this grade a practical sweet spot for collectors who want high quality without chasing condition rarities.
At a price of $175, the 1904-O is a very affordable option for the collector on a budget. It offers the satisfaction of owning a late-date New Orleans Morgan in gem condition, combining accessibility, historical relevance, and classic Morgan dollar aesthetics in a single, well-rounded coin.
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