FROM THE P.F.M. COLLECTION. While the mintage of 1,200,000 is not tiny, the number of Mint State survivors is. Clearly the 92-S was not saved in any quantity at time of issue, and whatever coins that were placed into circulation remained for many years. Your typical survivor tends to be in VF-AU grades, and whatever might have been held in government vaults were melted under the authority of the Pittman Act of 1918 that mandated the conversion of $350,000,000 silver dollars into bullion. Any Mint State survivors exist by pure happenstance. One look at the PCGS and NGC combined populations, and you will see how truly rare this date is: in Mint State grades combined, 114 coins have been graded, from MS60 to MS68. The presently offered MS65 is dusted with a clear silvery-white and pale gold iridescence that is highlighted by a bold, satiny mint frost. Sharply struck on both sides, the deals are crisp and complete. Liberty's cheek is nice and smooth, and both sides, even when closely inspected with a strong glass, are generally free of any marks, but we note some light die grease and light lines on the reverse. PCGS 4, NGC 1. VERY RARE at this grade level, and excessively so any finer. The most recent example to sell realized $192,000 in the February 2018 Long Beach Auction. We sold a marvelous PCGS MS64 CAC for $293,750 in July 2017. Our consignor purchased this coin in October 2007. PCGS has graded just 10 coins finer, so we wish you the best of luck finding a higher grade example! If you are looking for a MS65 for your set, be sure to take a look at this example and be prepared to bid liberally! Cert. Number 21225537 PCGS # 7218