1892-O $1 MS DMPL

Key to Collecting: Somewhat similar to the scenario for 1891-O, the 1892-O is usually seen poorly struck and with subpar eye appeal. However, in 1977 a bag of 1,000 coins was examined and “contained a considerable number of fully struck gem pieces.”57 From this marvelous find may come most of the gems now in collections. Enough 1892-O dollars exist that there are many purchase opportunities for grades such as MS-63 and MS-64, but careful examination is highly recommended.

Surface Quality: “This is probably the most consistently flat struck date of the entire Morgan series,” the VAM text notes, going on to state, “A small number of full strikes exist, however.” In terms of shallow definition this is a dandy rival for the 1891-O. Wayne Miller (1982) joined the thumbs-down chorus. Accordingly, cherrypicking is strongly recommended. Luster is often grainy and unattractive.

Prooflike Coins: Prooflike coins are seldom encountered, and when they are, quality is often lacking. All have some flatness of strike.

Mintage and Distribution: Delivery figures by month: January, 120,000; February, 105,000; March, 140,000; April, 310,000; May, 300,000; June, 149,000; July, 150,000; August, 300,000; September, 300,000; October, 300,000; November, 270,000; December, 300,000. Quantities were released into circulation in the early years, giving the 1892-O the status of being a common date. However, it was not until bags were released in the 1950’s from the Treasury Building in Washington, D.C., that Mint State coins became plentiful. Then the supply tightened, and in the numismatic marketplace these became premium coins. At the time, scarcely anyone cared whether a Morgan dollar of any date was well struck or poorly struck. Then during the 1962 through 1964 Treasury release a deluge issued forth from a vault containing New Orleans coins, put under seal in 1929. However, the 1892-O was not among those found in great quantity.

Varieties are mostly positional. VAM-10 has the O mintmark tilted noticeably to the right. The Top 100 Morgan Dollar Varieties takes note of VAM-7, Doubled Ear, from a very slightly doubled die.