1891-O $1 MS PL

Key to Collecting: The 1891-O dollar is famous as an example of poor to casual striking sharpness, although some sharp ones can be found. In view of the paucity of MS-65 coins and the high prices (justifiably, if the striking is nice), I recommend seeking coins at the MS-63 and MS-64 levels. The 1891-O had a bad reputation years ago for being less than lovely, but the advent of slabbing has helped. In any event, just buy one— don’t even think of buying a duplicate!

Surface Quality: Usually seen weak at the center. Some were made from tired dies and show granularity and flow lines. Some are also weakly struck at the date. A few sharp strikes do exist. Luster usually ranges from satiny to grainy or dull, not deep and frosty.

Prooflike Coins: Quite a few prooflike and partially prooflike coins exist, many of which are well struck (an exception to the general rule for 1891-O). DMPL coins exist, some well struck, others not.

Mintage and Distribution: The 1891-O silver dollars are unique in the series in that, during the year, coins were made from silver obtained under three different pieces of legislation: the 1878 Bland-Allison Act, the 1890 Sherman Silver Purchase Act, and the 1891 Trade Dollar Recoinage Act. No specific coin can be attributed to a specific act, but the situation is interesting to contemplate. Delivery figures by month: January, 1,000,000; February, 500,000 + 500,000; March, 414,082 + 500,000; April, 600,000; May, 5,831 + 400,000; June, 200,000 + 500,000; July, 500,000; August, 560,000; September, 400,000; October, 500,000; November, 950,000; December, 424,616. Totals: 1,919,913 under the 1878 Bland-Allison Act, 2,500,000 under the 1890 Sherman Silver Purchase Act, 3,534,616 under the 1891 Trade Dollar Recoinage Act, the last eventually resulting in the destruction of 3,471,488 trade dollars. In later years, bags were paid out on occasion, with the result that this was never a rare date in numismatic circles. In 1946 and 1947 many were released, after which time the few dealer specialists in the Morgan series were well stocked. Afterward, the 1891-O moved to the list of scarce coins, only to become common once again, following large releases circa 1955 and 1956, these coming from the Treasury Building in Washington, D.C. More came out from Philadelphia in the 1962 through 1964 release, with Harry J. Forman, for one, handling many bags at the time. However, the 1891-O release was far smaller than for the New Orleans Mint years of the early 1880’s.

This year 30 obverse dies and 29 reverses were sent from Philadelphia to New Orleans, and, presumably, most were used, although relatively few varieties have been described in print. VAM-1 exists with the reverse die rotated 50° to 120° from the normal alignment.