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The 1894-O Morgan Silver Dollar, certified by PCGS with a grade of MS62, is a highly collectible coin that reflects both the historical significance and the artistry of one of America’s most beloved coin series. The Morgan Silver Dollar series was first introduced in 1878 and continued until 1904, with a brief revival in 1921. Named after its designer, George T. Morgan, this series remains a favorite among numismatists due to its detailed design and connection to the history of the American West. The 1894-O issue is especially notable for its association with the New Orleans Mint, which played a critical role in producing U.S. coinage during the late 19th and early 20th centuries.
The obverse of the 1894-O Morgan Silver Dollar features the iconic image of Lady Liberty, depicted in profile with flowing hair and a Phrygian cap, which symbolizes freedom. The word "LIBERTY" is inscribed along the edge of her headband, while the words "E PLURIBUS UNUM" appear above her, meaning "Out of many, one." Thirteen stars, representing the original colonies, flank either side of the design, with the date "1894" positioned at the bottom. In this MS62 example, the obverse retains a high degree of detail, with some minor contact marks and light scuffing typical of a coin in this grade. Nevertheless, the clarity of Liberty’s portrait and the overall crispness of the design elements make this coin visually appealing and a valuable collectible.
The reverse of the Morgan Silver Dollar showcases a majestic bald eagle with outstretched wings, clutching arrows and an olive branch, symbolizing both military readiness and peace. Above the eagle’s head is the inscription "IN GOD WE TRUST," while the denomination "ONE DOLLAR" is prominently displayed at the bottom of the coin. Surrounding the eagle is a wreath, with the words "UNITED STATES OF AMERICA" encircling the design. The "O" mintmark, located just above the "D" in "DOLLAR," signifies that the coin was struck at the New Orleans Mint. In this MS62 example, the reverse maintains much of its original luster, though some minor abrasions and surface marks may be present. Despite these minor imperfections, the overall beauty and sharpness of the reverse design are well-preserved.
The 1894-O Morgan Silver Dollar holds particular historical significance due to its connection with the New Orleans Mint. The mint, which operated from 1838 to 1861 and again from 1879 to 1909, was one of the key facilities responsible for producing U.S. coinage during this period. Located in the heart of New Orleans, the mint played a crucial role in providing silver dollars to meet the demands of the American economy, particularly in the South and West. The 1894-O issue had a relatively low mintage of 1,723,000 coins, making it a scarcer date in the Morgan series, especially in higher grades. Many of the coins produced at the New Orleans Mint during this time were poorly struck, with weak details and luster, which makes higher-grade examples like this MS62 even more desirable among collectors.
The mintage of the 1894-O Morgan Silver Dollar was part of a broader trend in U.S. coinage production during the late 19th century. The Morgan Silver Dollar was initially created as part of the Bland-Allison Act of 1878, which required the U.S. Treasury to purchase large quantities of silver and produce silver dollars in order to support the silver mining industry. As a result, millions of Morgan Silver Dollars were struck, many of which were stored in Treasury vaults for decades before being released into circulation. The 1894-O issue is a prime example of a coin that was produced during a period of high silver output but lower demand for silver dollars, resulting in relatively few surviving in mint state condition today.
In MS62 condition, this 1894-O Morgan Silver Dollar is a well-preserved example that retains much of its original mint luster. Coins in this grade are typically characterized by fewer significant marks and abrasions than lower-graded examples, though they may still exhibit some minor surface imperfections. The luster on this coin would be bright but slightly subdued due to the grade, with some areas of light scuffing or bag marks present, particularly in the fields. However, the overall eye appeal remains strong, and the details of the design, particularly the eagle’s feathers and Liberty’s hair, are still well-defined.
For collectors, the 1894-O Morgan Silver Dollar in MS62 offers a rare opportunity to own a high-quality example of a coin from one of the most iconic mints in U.S. history. The combination of its historical significance, relatively low mintage, and the challenges associated with finding well-struck examples make this coin a prized addition to any Morgan Dollar collection. The MS62 grade from PCGS further enhances the coin’s value and desirability, providing assurance of its authenticity and quality. Whether for its numismatic value, its connection to American history, or its beautiful design, the 1894-O Morgan Silver Dollar remains a standout piece in the world of U.S. coin collecting.