Options
Why are 83O Morgans so scarce in higher grades?
Skrill90
Posts: 264 ✭✭✭
In terms of grades, I just realized that I always see 83 O Morgans under ms65 and quite abundant too. However rarely over ms65
Was this due to striking issues or storage issues? Can anyone shed light on this? Never seen a gem plus in person or at a show so far...
This ms67 went for quite a bit of cash at $1900 and got me interested https://www.ebay.com/itm/1883-O-Morgan-Dollar-NGC-MS-67-Great-Toning-Gem-Coin-Very-Very-Scarce-In-MS-67/202730500505?hash=item2f33adf199%3Ag%3AKvMAAOSwzxZdJl4N&LH_Auction=1
0
Comments
There where 8,725,000 minted but an estimated 875,000 survived most graded 63-64 with 8380 in 65 then 950 in 65 90 in 67 and 1 in 68 but interestingly 65 or better estimated survival rate 25,000 that would mean a lot of coins out there not graded yet. So the 83o is a rare coin in high grades due to a low estimated survival rate. I’m guessing a lot got melted down.
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/publishedset/209923
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/album/209923
Even with potential duplicates, the numbers cited here are not low. By any sensible standard, in 65 and 66 the coin is common and only somewhat hard to buy in 67 unless an outsized percentage of duplicates exist. Proportionately, it's lower than some other dates but that's all.
123 MS65 examples on eBay right now. Some look very nice. Take your pick.
In the little county seat in my home county, a local savings and loan imported several unc. Bags of 1883-O and 1884-O silver dollars as a premium for depositing money in certificates of deposit in the late 1960s. You will never convince me that only 10% to 12% of the original mintages still exist. Never never never.
83-O is similar to several other New Orleans dates. Many have soft strikes, dull luster and many are not all that eye appealing. When you start thinking about grades above 65, those things "should" be important...and obviously more costly! I can't give an opinion on the survival rate.