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- Product ID: 14224
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The Certified Morgan Silver Dollar 1893 XF45 PCGS is in extra fine condition and comes encased in an official PCGS holder. Only 378,000 Morgans were minted at the Philadelphia Mint that year. From the years 1893-1895, there was a hold on high mintage coins, causing the mintage for those years to be record-breaking low. This was due to an over production in Morgans that led to the banks and reserves being overstocked with coins that weren't in circulation. The Treasury had over 300 million in its storage, while over 7 million just sat in banks and reserves. The silver purchasing clause of the Act of July 4, 1890 was repealed, making it illegal for more silver to be purchased in order to make more Morgans. For the next few years, the time of higher mintage Morgans was over, causing the Morgans minted from 1893-1895 extremely collectible because of their lower mintage. Finding a 1893 Morgan in a good grade is difficult since most were placed into circulation at the time.
