A nicely toned 1882-S Morgan dollar offered by GreatCollections will cross the block in an online auction on Sunday, November 14. The coin is certified MS-66 by PCGS and its high bid in the GC sale stands at $370 USD at the time of writing.
1882-S Morgan dollars are relatively common, especially in Mint State grades. 9,250,000 were struck, the smallest mintage of the 1879-1882 San Francisco issues, but the facility’s Morgan dollar output declined in the years after 1882; for example, 657,000 were struck there in 1888. Mintages wouldn’t rise past 1882 levels until the denomination’s reintroduction in 1921.
The strike quality of the 1882-S is often compared to the 1880-S and 1881-S issues, which are known for their sharp strikes. Many 1882-S Morgans were bagged and kept in government vaults, which, combined with their strike quality and relatively large mintage, resulted in large populations of Mint State coins. MS-68 examples of the 1882-S are rarer than their 1880- and 1881-dated predecessors, but in all other Mint State grades, the coins are similarly abundant.
At the time of writing, PCGS reports 5,509 grading events for the 1882-S Morgan dollar in MS-66. Tens of thousands of 1882-S Morgans have been certified in lower Mint State grades. For comparison, NGC reports 6,674 grading events for 1882-S Morgan dollars in MS-66.
The example currently being offered by GreatCollections features strong multicolored toning on its obverse. Hues of blue, purple, tan, and gold swirl around together, with small areas of original white around three and five o’clock. Its reverse sports light gold toning around most of the rim, but the fields and devices are all more or less original Mint white.
PCGS does not list any previous sales of this coin based on its certification number.
Auction results for similar examples of the 1882-S from the last year suggest that this coin may sell for $500 or more. Typical MS-66 examples generally sell for between $300 and $500, but the strong, attractive toning displayed by this specimen may attract more aggressive bidding.
The auction closes at 6:23:40 PM Pacific Time on November 14. At the time of writing, 34 bids have been recorded and 38 GC members are tracking the auction. The page has been viewed 247 times. To search through GreatCollection’s archive of over 600,000 certified coins the company has sold over the past seven years, please visit the GreatCollections Auction Archives.
GC auctions for a number of other 1882-S Morgan dollars end at the same time as the example covered in this article. Two feature toning on their obverses, though only one rivals the intensity of the coin covered in this piece; the highest grade among these other toned coins is MS-64. An untoned example certified MS-67 is being offered in a sale that closes on November 21. Another MS-67 example, certified by PCGS with a CAC sticker is being offered in an auction that closes November 28; GreatCollections includes the word “toned” in the description, just as they did for this MS-66 example. Its toning is subtler than that on the coin covered here; an MS-65 example with comparable toning is being offered in a sale that closes on the same day, November 28.
None of the other coins had high bids anywhere near the toned MS-66 example covered in this piece.
Will this 1882-S Morgan dollar’s attractive obverse toning catapult it above its relatively common MS-66 brethren? We will find out in a few days.