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1878-S $1 Morgan Silver Dollar
US $500.00
Approximately£371.91
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Condition:
- Buy it now1878-S $1 Morgan Silver Dollar
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Collection:
Free collection in person from Wyoming, Pennsylvania, United States
Postage:
Free USPS Ground Advantage®.
Located in: Wyoming, Pennsylvania, United States
Delivery:
Estimated between Tue, 12 Aug and Sat, 16 Aug to 94104
Returns:
14 days return. Buyer pays for return postage. If you use an eBay delivery label, it will be deducted from your refund amount.
Payments:
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Seller assumes all responsibility for this listing.
eBay item number:257024853622
Item specifics
- Denomination
- $1
- Country/Region of Manufacture
- United States
- Coin
- Morgan
- Circulated/Uncirculated
- Unknown
- 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
Seller business information
Seller Feedback (1,232)
- a***6 (33)- Feedback left by buyer.Past monthVerified purchaseIt was brand new and packaged nicely. There were two tiny tears on part of the outside of the tote but not noticeable to most and I believe it had been received that way when the auctioneer bought it or received it without noticing it. I tend to notice everything. Was worth the price and is a great value. Will buy again from this seller. It was as described brand new with tags and shipping was good.
- b***h (2057)- Feedback left by buyer.Past 6 monthsVerified purchaseShipping was pretty fast. Great Communication. Beautiful Ring. Well Packaged. As Described and good value. Thank you. A++++++
- 7***- (347)- Feedback left by buyer.Past 6 monthsVerified purchaseThe watch was received within scheduled time and packed nicely. The pictures described the watch beautifully. However, the watch movement seems has a problem inside that causes frequent stops. I received my offered sale price. But if I just knew that the movement was frequently stopping, I could have asked a lower price.VINTAGE MEN'S BULOVA WRIST WATCH, RUNNING GOOD, AUTOMATIC Self Winding Gold Fill (#256815489817)
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