Despite having a mintage of 3,200,000 and the general availability of circulated coins, the 1884-S Morgan Dollar is a major rarity in Mint State. The coins were distributed to the channels of commerce and circulated for many decades. Not much attention was paid to the coin until much later on, when it was realized the issue was extremely rare in mint state.
The limited supply combined with the higher demand drives premium prices for mint state grades. In AU, this issue generally trades for a small premium of common dates, but prices radically jump for grades MS-60 and higher. One piece, graded NGC MS-65 sold for nearly $150,000 in early 2009.
1884-S Morgan Dollar Mintage and Specifications
- Mintage: 3,200,000
- Mint mark: S (San Francisco)
- Composition: 90% silver, 10% copper
- Weight: 26.73 grams
- Diameter: 38.1 mm