Rare and Highly Graded 1893-O Morgan Dollar Sold for $411,250

17 Nov 2017  Fri

An 1892-S Morgan silver dollar graded MS 67 with a green CAC sticker, topped the bids at Legend Rare Coin Auctions’ Regency Auction XXIII on 26th October and was sold for $470,000. An 1893-S Morgan dollar, graded PCGS MS-67 with a green CAC sticker, could not reach its estimate of $1.3 million to $1.5 million.

An 1893-O Morgan dollar, graded MS-66 Prooflike, with a CAC sticker was sold for $411,250. The 1893-O coin is not as rare as the 1893-S Morgan dollar. Nevertheless, highly graded coins of this type, struck at New Orleans Mint are sought-after and rare. The coin had an estimated value of $350,000 to $450,000. It was earlier owned by a collector named Louis Eliasberg Sr from Baltimore.

It was purchased in 1894 by J.M. Clapp from Colvin Randall. Legend offered the same coin in 2015 for $458,250. The description states that the coin is so remarkable that it’s difficult to guess if it is a Specimen or possibly a Proof. It belonged to the Eliasberg Collection in 1997 and was sold for $176,000 at the Bowers & Merena’s auction. It was later sold for $166,750 in 2004 by Heritage Auctions.

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