1903-O $1 Morgan Silver Dollar PCGS MS64 CAC - Amazing Color!

$1500

SOLD

This is a BEAUTIFUL piece with amazing color and flash. I cannot stop twirling this 1903-O dollar under my lights at the office. From PCGS: Until October 1962 the 1903-O was the most important, most acclaimed, rarest issue in Mint State in the entire Morgan dollar series. Outranking the 1893-S, 1895, and other contenders, the Mint State 1903-O was so rare that it was estimated that fewer than 10 specimens were known to exist in numismatic circles. Indeed, the rarity of the 1903-O in this grade was legendary. Few collectors or dealers had ever seen one, let alone had the opportunity to own one! A few scattered advertisers claimed to have Mint State 1903-O dollars, but these listings were probably window dressing, representing what they might charge if they had coins available, or they may have been AU "sliders." In the then current Guide Book of U.S.Coins in 1962 an Uncirculated 1903-O catalogued at $1,500.00 - the highest price of any Morgan dollar. Yeoman's theory was that most had been melted under the Pittman Act. This changed in October 1962, when to the great amazement of the numismatic fraternity, a number of bags of Mint State 1903-O dollars came to light, setting off the numismatic equivalent of the California Gold Rush! It is said that the small town of Alma, Michigan was the site of some of the first 1903-O dollar discoveries. The race was on, and the silver dollar market would never be the same again. The news spread that the 1903-O and other New Orleans silver dollars had been shipped to the Philadelphia Mint in 1929, and had remained in a joint-sealed vault since that time. A generation of distinguished Philadelphia numismatists came and went, without knowledge of their existence in their very backyard! Additional coins came out from hiding in the Treasury Building in Washington, D.C., where, for some unexplained reason, they had not been noticed by coin-wise employees earlier.