Release of the 1903-O Morgan

Scavenger

I was reading an article last night (David Bowers) about how in 1962 the mint released several mint state 1903-O Morgans into circulation and the prices plunged overnight from $1500.00 to $12.00 because they were turning up everywhere.
Remember this was before internet times and news didnt travel so fast, he said some guy gathered up a couple of rolls, took a plane to London and sold them at book prices before they were aware of the release.

larrynj

i bought an 03-o from qdb in the late 70's that he had graded ms-70. it was pretty damn close. i paid about $100 iirc, maybe sold it for $300-400? i don't recall the details on selling it.