While 1.2 million Morgan dollars were struck at the San Francisco mint in 1892, the vast majority went into circulation either at the time of issue or as the treasury released more dollars into circulation between 1904 and 1918, or bags were in storage in treasury vaults and were melted down in 1918 per the Pittman Act. In circulated grades the 92-S is nothing special. AU grades, the date is somewhat scarce, and because of its extreme rarity in Mint State, AUs are in strong demand. Mint State coins are EXTREMLY RARE. Even lower grade Mint State examples are HIGHLY COVETED.
This coin is freshly graded by PCGS, submitted once by our consignor who purchased it raw in an old collection. A pleasing lustrous glow on the obverse and an even flashier semi-PL brilliance on the reverse give this coin a nice look. Some light contact and a stray old line or two account for the assigned grade, but they have little visual impact. Traces of deeper toning at the peripheral devices attest to the originality of this piece.
PCGS 6, NGC 15. There has not been a PCGS-graded example sold in auction in MS61 in over three years. More recently, an NGC-graded MS61 sold for $55,200 in March 2023. The current PCGS Price Guide value is $57,500. This is a fantastic opportunity for anyone working on a Mint State set of Morgan dollars. Keep in mind the spreads between grades. Good luck.
Cert. Number 47440395
PCGS # 7218