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USA - 1878-S - Morgan Silver Dollar
US $51.80
Approximately£38.77
or Best Offer
Condition:
- Buy it nowUSA - 1878-S - Morgan Silver Dollar
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Postage:
US $5.15 (approx £3.85) USPS Ground Advantage®.
Located in: Baltimore, Maryland, United States
Delivery:
Estimated between Thu, 16 Oct and Tue, 21 Oct to 94104
Returns:
30 days return. Buyer pays for return postage. If you use an eBay delivery label, it will be deducted from your refund amount.
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eBay item number:177291275564
Item specifics
- Denomination
- $1
- Circulated/Uncirculated
- Circulated
- Coin
- Morgan
- Grade
- Ungraded
- Country/Region of Manufacture
- United States
- Certification
- Uncertified
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
About this seller
thedominokid
100% positive Feedback•166 items sold
Registered as a private sellerThereby, consumer rights stemming from EU consumer protection law do not apply. eBay buyer protection still applies to most purchases.
Seller Feedback (67)
- e***o (868)- Feedback left by buyer.Past yearVerified purchaseExcellent seller, responsive to messages, TLC packing, fast shipping, as described, a pleasant transx. A+Canon Pixma iP110 Wireless AirPrint Mobile Color Inkjet Printer For Parts (#176810841678)
- 8***4 (1633)- Feedback left by buyer.Past 6 monthsVerified purchaseGREAT price! FAST shipping! AAAAAAA+++++!!!!VINTAGE - Spring Heeled Jack - Embroidered Patch - 1990s - MOON SKA NYC (#177179592303)
- 8***6 (58)- Feedback left by buyer.Past 6 monthsVerified purchase36 silver coins were all correct 3 clad ok very pleased with all coins you had them packed very well nothing could bet loose or out 07/14/25 3\30 pm price ok all coins in the right spot now i need 12 more coins to finish my great start to make a complete set richard from ohio thanksRoosevelt Dimes 90% Silver Partial Set - 39 Coins Stater Set Whitman Book (#177181161079)
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thedominokid
100% positive Feedback•166 items sold
Registered as a private sellerThereby, consumer rights stemming from EU consumer protection law do not apply. eBay buyer protection still applies to most purchases.
Seller Feedback (67)
- e***o (868)- Feedback left by buyer.Past yearVerified purchaseExcellent seller, responsive to messages, TLC packing, fast shipping, as described, a pleasant transx. A+Canon Pixma iP110 Wireless AirPrint Mobile Color Inkjet Printer For Parts (#176810841678)
- 8***4 (1633)- Feedback left by buyer.Past 6 monthsVerified purchaseGREAT price! FAST shipping! AAAAAAA+++++!!!!VINTAGE - Spring Heeled Jack - Embroidered Patch - 1990s - MOON SKA NYC (#177179592303)
- 8***6 (58)- Feedback left by buyer.Past 6 monthsVerified purchase36 silver coins were all correct 3 clad ok very pleased with all coins you had them packed very well nothing could bet loose or out 07/14/25 3\30 pm price ok all coins in the right spot now i need 12 more coins to finish my great start to make a complete set richard from ohio thanksRoosevelt Dimes 90% Silver Partial Set - 39 Coins Stater Set Whitman Book (#177181161079)