1878-S $1 Morgan Silver Dollar
US $92.00US $92.00
Thu, Jun 26, 05:55 AMThu, Jun 26, 05:55 AM
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1878-S $1 Morgan Silver Dollar
US $92.00
ApproximatelyC $127.63
Condition:
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Located in: Absarokee, Montana, United States
Delivery:
Estimated between Mon, Aug 25 and Fri, Aug 29
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No returns accepted.
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eBay item number:405978070480
Item specifics
- Denomination
- $1
- Circulated/Uncirculated
- Uncirculated
- Coin
- Morgan
- Fineness
- 0.9
- Grade
- MS 62
- Country/Region of Manufacture
- United States
- Certification
- PCGS
About this product
Product Information
<h2>Q. David Bowers</h2>The following narrative, with minor editing, is from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993).<br/><br/>Coinage Context <br/><br/>The silver market in San Francisco: London was the primary market for gold and silver in the 1860s and 1870s. The discovery of the Comstock Lode deposits in Nevada 1859 and their consequent exploitation in the 1860s brought much investment capital from England to Nevada, just as the British would invest over $100 million in the Cripple Creek District gold mines in the 1890s <br/><br/>On the open market, the San Francisco price for silver bullion was less than in London, for about 2% had to be added for transport by sea from California to England. <br/>In San Francisco and throughout California and Nevada there were dozens of banks, assayers, and others who took in silver bullion, refined it, and paid out ingots and bars. Typically, such refiners would charge from about 2% for large quantities, to 5% or 6% for small amounts. In contrast, the San Francisco Mint levied a charge of 1.5% for metal delivered to it. Thus, over a period of time the mint became the main depository for silver metal. <br/><br/>Dies and collars for Morgan dollars arrived at the San Francisco Mint on the evening of April 16, 1878. <br/><br/>The initial striking of Morgan dollars took place at 3:30 in the afternoon of April 17. In attendance were representatives of the press, former governor F.F. Low, mint officers, and others. The first specimen was presented to coiner Cicott, who acted as master of ceremonies for the event. After nearly 1,000 coins were struck, one of the dies broke, the press was stopped, and further coinage was suspended until the following day. (Per an account in the New Alta California, April IS, 1878, quoted by Van Allen and Mallis, p. 91, from a copy in the California State Library.)<br/><br/>Numismatic Information <br/><br/>Hoard coins: It is believed that as of June 30, 1913, the majority of the original mintage of 1878-S (probably five to six million coins out of a total of 9,774,000), and nearly all of the original mintages of 1879-S, 1880-S, 1881-S, and 1882-S were stored at the San Francisco Mint, to be paid out over a period of decades thereafter. Especially large quantities were released in the early 1950s-so many that 1878- S was one of the most often seen Mint State Morgan dollars for years afterward. Many bags were also distributed later in the 1950s and especially during the 1962-1964 dispersal. In The Forecaster, September 15, 1971, John Kamin gave his opinion that about 7% of the original mintage of 1878-S was released circa 1962-1964, a figure equal to about 600,000 coins. <br/><br/>Harry J. Forman bought 10 bags from Phil Carlino; they probably came to Las Vegas by truck directly from the San Francisco Mint or the San Francisco Federal Reserve Bank (to which depot many silver dollars were transferred in the late 1930s, when the old San Francisco Mint operations were transferred to a new facility on Duboce St.). This date was said to represent the fourth largest single holding of Morgan silver dollars in the Redfield hoard.' One estimate placed the Redfield quantity at 5,000 coins and noted that the coins were in lower Mint State grade ranges. <br/><br/>By 1982, Wayne Miller considered the 1878-S to be the least available of the early San Francisco Morgan dollar issues 1878-1882 in Mint State. However, earlier this was not the case, and he recalled a January 1964 advertisement to buy all Uncirculated silver dollars with the exceptions of the following, which at the time were considered to be the most common: 1878-S Morgan, 1921 Morgan, 1922 Peace, and 1923 Peace. Wayne Miller went on to suggest that as 1878-S dollars were once common, many investors and numismatists turned them back to hanks
Product Identifiers
Designer
George T. Morgan
eBay Product ID (ePID)
170476028
Product Key Features
Strike Type
Business
Mint Location
San Francisco, San Francisco, California
Composition
90% Silver, 10% Copper
Year
1878
Dimensions
Weight
26.73g
Additional Product Features
Mintage
9774
Mint
San Francisco
Denomination
$1
PCGS Number
7082
Diameter
38.1mm
Mint Mark
S
Edge
Reeded
Item description from the seller
Seller feedback (613)
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- d***1 (211)- Feedback left by buyer.Past 6 monthsVerified purchaseLove my coin Thank you !! Shipping , packaging and the description were right on . 5 stars will use seller again !!
- t***a (448)- Feedback left by buyer.Past 6 monthsVerified purchase👑 The items we received are impeccable reflection of its online description, expertly packaged for secure transport, and dispatched with remarkable promptness. We are absolutely thrilled with our splendid antique portraits found at an excellent price! This transaction certainly deserves a five-star rating from beginning to end. Highly recommend this seller! Thank you for sharing such exquisite treasures with us. 💐 👑
- 5***f (465)- Feedback left by buyer.Past 6 monthsVerified purchaseWell I received my package today very happy first off arrived in a small box and taped up Well inside had packing material around the items wow you should make a YouTube video on how you pack a box because this is top notch and some people really have no idea how to mail stuff but you have it going on very happy also very fast shipping got mailed out right away not days later I will be buying from you again also great prices
- s***5 (1117)- Feedback left by buyer.Past monthVerified purchaseI’m delighted with this reproduction of a small copper pitcher from Colonial Virginia. Aptly described as in good condition….expertly crafted piece this represents a real value. Item was packed well to ensure delivery without damage and promptly shipped for fast delivery. A smooth transaction with a dealer whom I would highly recommend! Thanks.
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Seller feedback (613)
This item (1)
All items (613)
- d***1 (211)- Feedback left by buyer.Past 6 monthsVerified purchaseLove my coin Thank you !! Shipping , packaging and the description were right on . 5 stars will use seller again !!
- t***a (448)- Feedback left by buyer.Past 6 monthsVerified purchase👑 The items we received are impeccable reflection of its online description, expertly packaged for secure transport, and dispatched with remarkable promptness. We are absolutely thrilled with our splendid antique portraits found at an excellent price! This transaction certainly deserves a five-star rating from beginning to end. Highly recommend this seller! Thank you for sharing such exquisite treasures with us. 💐 👑
- 5***f (465)- Feedback left by buyer.Past 6 monthsVerified purchaseWell I received my package today very happy first off arrived in a small box and taped up Well inside had packing material around the items wow you should make a YouTube video on how you pack a box because this is top notch and some people really have no idea how to mail stuff but you have it going on very happy also very fast shipping got mailed out right away not days later I will be buying from you again also great prices
- s***5 (1117)- Feedback left by buyer.Past monthVerified purchaseI’m delighted with this reproduction of a small copper pitcher from Colonial Virginia. Aptly described as in good condition….expertly crafted piece this represents a real value. Item was packed well to ensure delivery without damage and promptly shipped for fast delivery. A smooth transaction with a dealer whom I would highly recommend! Thanks.