How rare is a circulated 1903-O Morgan?

dbldie55

I was just going through a collection of stuff my local dealer just bought when I noticed a VF 1903-O Morgan. I had never seen one that was actually circulated. I know in the early '60s this was indeed a rare coin. How often do you see these circulated?

mtnman

It was one of the last ones I got to finish my set. It only grades F-12 and I haven't seen another one
any better since I got that one.

BAJJERFAN

Its not rare but it is scarce. At one time it was a key date till they found a bunch of bags of them in a treasury vault. Yu shudda bought it if you saw it.

ultradmpldollars

This coin along with the 85-CC and 84-CC are fairly difficult to locate in circulated condition, (circulated being; not cleaned, free of dings, etc)

We pay a premium for such coins.

wam98

Checked out the PCGS POP on the 1903 O. There have been 7845 pieces graded. Only 16 of this number were graded VG to EF-40. I'm not one to follow POP reports but this looks kinda out of balance. Considering the value placed on the circulated grades you would think more would have been graded, or there's just not many out there.

Here my PCGS MS-65

ultradmpldollars

There are not a lot of them out there, and when they are actually found raw, they have usually been messed with and will not grade; leaving nice original pieces few and far between.

TheRaven

If ya collect circulated Morgans should have bought it.

DaveG

In his Silver Dollar Encyclopedia (1993), Bowers says that because the coins weren't needed in circulation, most were stored and only a few entered circulation. He estimated that there are 3,000 to 6,000 1903-O Morgans in G-4 to AU-58 compared to 190,000 to 380,000 in MS-60 or better.