1903-S $1 MS(PCGS#7288)

Spring 2026 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

4451

Grade

MS63

Price

8,400

Lot Description

Vivid multicolored peripheral toning frames brilliant centers on both sides of this key date Morgan dollar. Sharply struck and minimally abraded, a bit more intensity to the satin luster may have secured an even higher grade from PCGS. Simply put, the 1903-S is one of the rarest Morgan silver dollars in Mint State. A relatively limited mintage of 1,241,000 pieces is partly to blame for this, but the real culprit is the distribution of the issue, or rather lack thereof. With well worn survivors in grades such as Good and VG relatively obtainable, it seems likely that a fair number of 1903-S dollars entered circulation shortly after striking. Later releases of Mint State coins were few and far between, which suggests that rather than remaining in government storage for many years, much of the original mintage succumbed to melting pursuant to the 1918 Pittman Act. A significant find for the advanced Morgan dollar collector.