In a remarkable discovery, a rare 1893‑S Morgan Silver Dollar was found tucked inside an old store cabinet earlier this June. The coin sparked a competitive bidding war, ultimately selling for an astonishing $1.8 million, captivating the numismatic community and making headlines worldwide.
Key Details at a Glance
| Detail | Information |
|---|---|
| Coin Type | 1893‑S Morgan Silver Dollar |
| Mint Mark | “S” — San Francisco mint |
| Mintage | Only 100,000 struck — lowest in Morgan Dollar series |
| Condition/Grade | Certified MS‑65 (Mint State) — near‑perfect, sharp details |
| Discovery Location | Tucked inside a dusty cabinet in a small‑town antique store |
| Initial Purchase Price | Purchased for approximately $20–$30 before authentication |
| Auction Type | Private auction |
| Final Sale Price | $1.8 million after intense bidding |
| Importance | Recognized as a key date Morgan dollar — highest rarity/collectibility |
| Design Theme | Liberty obverse & eagle reverse — designed by George T. Morgan |
| Historical Context | Coin was struck during the Panic of 1893; many were melted under the 1918 Pittman Act |
The Discovery & Authentication Journey
Found by chance in a modest antique shop, the coin was initially priced between $20–$30. A discerning collector recognized the “S” mint mark and flawless strike, prompting a professional grading service to verify its authenticity.
The coin was classified as MS‑65, positioning it as one of the finest known examples of the 1893‑S minting.
Why the 1893‑S Morgan Dollar Is So Precious
- Extremely Low Mintage: At just 100,000 coins, it’s the rarest U.S. business‑strike Morgan Dollar
- Historic Rarity: The Panic of 1893 curtailed production, and the 1918 Pittman Act led to widespread melting of these coins.
- Condition Scarcity: Mint State examples, especially MS‑65 and above, are exceedingly rare—only a few dozen are known.
Notably, an MS‑67 graded specimen sold for over $2.08 million in 2021, showing the potential value range .
The $1.8M Bidding Frenzy
The 1893‑S MorganDollar’s entry into a private auction triggered a fierce competition among top collectors. Though the exact buyer remains anonymous, reports confirm ownership by an experienced private numismatist. The final hammer fell at $1.8 million, underscoring the coin’s unmatched allure.
Impact on the Numismatic Market
- Surge in Interest: Auction houses report heightened demand for key-date Morgan dollars like 1893‑S, 1889‑CC, and 1895 proof specimens.
- Rising Values: Even less-than-perfect Morgan Dollars are fetching significantly higher prices due to renewed collector enthusiasm.
Industry experts expect this find to increase valuations across the board for historic U.S. coinage.
Tips for Coin Hunters & Collectors
- Inspect Mint Marks & Dates: Look for coins marked “S,” “CC,” or from low-mintage years like 1893.
- Avoid Cleaning: Never polish coins—this can reduce value dramatically.
- Get Graded: Send potential finds to trusted services (e.g., PCGS, NGC).
- Research Value Trends: Follow auction reports to gauge current market demand.
The discovery of the pristine 1893‑S Morgan Silver Dollar, sold for $1.8 million, is a powerful reminder that extraordinary treasures may lie hidden in everyday places.
This spectacular find has reignited enthusiasm among collectors, emphasized the importance of proper grading, and reaffirmed the numismatic value of historic U.S. coins.
If you have old coins stashed away, consider having them evaluated—you might be sitting on a fortune.
FAQs
Why is the 1893‑S Morgan Silver Dollar a “key date”?
It had the lowest mintage (100,000) and most were circulated or melted, making high-grade specimens extraordinarily rare.
Can other Morgan Silver Dollars fetch similar prices?
Yes—certain years like 1889‑CC or 1895 proof are highly valuable, especially in Mint State condition.
What should I do if I find an old coin at home?
Keep it untouched, don’t clean it, and consult a certified grading service promptly.