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Best described as a conditional rarity, the 1896-O Morgan dollar is very common and affordable in the lower circulated grades but extremely rare in the uncirculated levels -- particularly Gem. The problem, like most O-mint Morgan dollars, the 1896-O was poorly struck and many pieces have truly poor luster. PLs and DMPLS exist but are extremely rare, and none are known in the Gem levels.
Obverse Description
Portrait of Liberty centered. On the left are found 7 stars with the words E*PLURIBUS*UNUM followed by 6 stars on the right. The date is positioned at the bottom.
Reverse Description
The heraldic eagle is centered holding a bunch of arrows and branch surrounded by and olive leaves. The words UNITED STATES OF AMERICA * ONE DOLLAR frame the periphery. Mint mark, if any, appears above the letters DO of DOLLAR.
Book Reference
Key to Collecting: The 1896-O is a marvelous coin for study. “No other Morgan dollar is as consistently deficient in luster, strike, and degree of surface abrasions as the 1896-O,” Wayne Miller wrote. “In my opinion the 1896-O is the rarest of all Morgan dollars (even more than 1901) in truly gem condition.” Of course, those who are edged out of buying a gem Mint State 1901 can wink twice and buy a Proof quickly, but the collector seeking an 1896-O has no such fallback possibility. Most of the mintage must have been released into circulation, as well-worn coins are common today and worth little premium. On the other hand, AU coins, of which there are thousands around, do have value and are a reasonable option for an example of this date, in view of the paucity of choice higher-grade pieces.
Surface Quality: Striking is usually below average, insipid and unattractive. This will be a problem and a challenge, as very few exceptions can be found. The luster is typically dull and lifeless. Again, cherrypicking is needed, in combination with strike, making the challenge even greater.
Prooflike Coins: Prooflike examples occur and are very rare, even well struck, but with dullish surfaces rendering most of them unattractive.
Mintage and Distribution: Delivery figures by month: January, 0; February, 500,000; March, 500,000; April, 350,000; May, 300,000; June, 300,000; July, 300,000; August, 600,000; September, 600,000; October, 600,000; November, 600,000; December, 250,000. Large quantities reached circulation. Mint State coins turned up here and there in numismatic circles and attracted no notice. By 1953 a few bags had come on the market, and dealer specialists had a nice supply. More were released in 1956. This date and mint was known for its generally unmemorable quality, and it never was a collectors’ favorite. A few bags here and there came to market in the late 1950’s and early 1960’s, but not enough that Harry J. Forman ever owned one.
VARIETIES:
Among the many die combinations, of special interest is the 1896-O, Micro O Mintmark, VAM-4. It shows a very small O from a mintmark punch intended for a lowerdenomination silver coin. Usually seen well worn. Two varieties of VAM-4 are shown below.
Catalog Information
GSID:
7624
Designer:
George T. Morgan
Obverse Designer:
George T. Morgan
Obverse Lettering:
E PLURIBUS UNUM, LIBERTY, 1896
Reverse Designer:
George T. Morgan
Reverse Lettering:
UNITED STATES OF AMERICA, IN GOD WE TRUST, ONE DOLLAR
Fineness:
0.9
Weight (gr):
26.73 gr
Weight (oz):
0.8594 oz
Precious Metal Weight:
0.7734 oz
Strike Type:
Business
Diameter:
38.1
Coin Shape:
Round
Edge:
Reeded
Coin Date:
1896-O
Denomination:
$1
Designation:
MS
Mint Location:
New Orleans
Mint Mark:
O
Mintage:
4,900,000
Coinage Type:
Morgan silver dollar
Coinage Years:
1878-1921
Composition:
90% silver; 10% copper
PCGS #:
7242
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Coin Value History
1896-O $1 MS
Value By Grade
1896-O $1 MS
CPG (retail) values
Currency
Grade Range
Grading Authority
Sort by
Pricing
Values
Greysheet & CPG® Values
| Grade | CAC | CPG Value (Retail) | Greysheet Price (Wholesale) |
|---|---|---|---|
| MS66 |
|
$630,000 | $1,234 |
| MS66 | - | $510,000 | $1,234 |
| MS65 |
|
$1,234 | $1,234 |
| MS65 | - | $1,234 | $1,234 |
| MS64 |
|
$1,234 | $1,234 |
| MS64 | - | $1,234 | $1,234 |
| MS63 |
|
$1,234 | $1,234 |
| MS63 | - | $1,234 | $1,234 |
| MS62 |
|
$1,234 | $1,234 |
| MS62 | - | $1,234 | $1,234 |
| MS61 |
|
$1,234 | $1,234 |
| MS61 | - | $1,234 | $1,234 |
| MS60 |
|
$1,234 | $1,234 |
| MS60 | - | $1,234 | $1,234 |
| AU58 |
|
$1,234 | $1,234 |
| AU58 | - | $1,234 | $1,234 |
| AU55 |
|
$1,234 | $1,234 |
| AU55 | - | $1,234 | $1,234 |
| AU53 |
|
$1,234 | $1,234 |
| AU53 | - | $1,234 | $1,234 |
| AU50 |
|
$1,234 | $1,234 |
| AU50 | - | $1,234 | $1,234 |
| XF45 |
|
$1,234 | $1,234 |
| XF45 | - | $1,234 | $1,234 |
| XF40 |
|
$1,234 | $1,234 |
| XF40 | - | $1,234 | $1,234 |
| VF35 |
|
$1,234 | $1,234 |
| VF35 | - | $1,234 | $1,234 |
| VF30 |
|
$1,234 | $1,234 |
| VF30 | - | $1,234 | $1,234 |
| VF25 |
|
$1,234 | $1,234 |
| VF25 | - | $1,234 | $1,234 |
| VF20 |
|
$1,234 | $1,234 |
| VF20 | - | $1,234 | $1,234 |
| F15 |
|
$1,234 | $1,234 |
| F15 | - | $1,234 | $1,234 |
| F12 |
|
$1,234 | $1,234 |
| F12 | - | $1,234 | $1,234 |
| VG10 |
|
$1,234 | $1,234 |
| VG10 | - | $1,234 | $1,234 |
| VG8 |
|
$1,234 | $1,234 |
| VG8 | - | $1,234 | $1,234 |
| G6 |
|
$1,234 | $1,234 |
| G6 | - | $1,234 | $1,234 |
| G4 |
|
$1,234 | $1,234 |
| G4 | - | $1,234 | $1,234 |
| AG3 |
|
$1,234 | $1,234 |
| AG3 | - | $1,234 | $1,234 |
Morgan $1 Pre-1921 MS [Type]
![Morgan $1 Pre-1921 MS [Type]](https://images.greysheet.com/ProductImages/DLRC/194xxx/a15b3867-56c4-4feb-9ccd-68ae7da30226.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $41 – $80,000
Morgan $1 Pre-1921 MS PL [Type]
![Morgan $1 Pre-1921 MS PL [Type]](https://images.greysheet.com/ctc/catalog/90o-pl-obv.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $50 – $7,800
Morgan $1 Pre-1921 MS DMPL [Type]
![Morgan $1 Pre-1921 MS DMPL [Type]](https://images.greysheet.com/ctc/catalog/84cc-dmpl-obv.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $75 – $42,000
Morgan $1 Carson City Mint MS [Type]
![Morgan $1 Carson City Mint MS [Type]](https://images.greysheet.com/ProductImages/DLRC/416xxx/e90065e0-537f-4db8-b2b8-efacd6817cff.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $70 – $50,000
Morgan $1 Carson City Mint, GSA Hoard Hard package MS [Type]
![Morgan $1 Carson City Mint, GSA Hoard Hard package MS [Type]](https://images.greysheet.com/Ctc/CatalogEntry/ha_com_1314_4280-3.20200626010427369.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $270 – $5,400
1878 8TF $1 MS
Worth: $40 – $102,000
1878 8TF $1 MS PL
Worth: $200 – $4,400
1878 8TF $1 MS DMPL
Worth: $575 – $27,000
1878 7TF $1 Reverse of 1878 MS
Worth: $41 – $3,200
1878 7TF $1 Reverse of 1878 MS PL
Worth: $72 – $6,600
1878 7TF $1 Reverse of 1878 MS DMPL
Worth: $240 – $42,000
1878 7/8TF $1 Strong MS
Worth: $45 – $26,400
1878 7/8TF $1 Strong MS PL
Worth: $200 – $9,900
1878 7/8TF $1 Strong MS DMPL
Worth: $425 – $30,000
1878 7/8TF $1 Weak MS
Worth: $41 – $3,200
1896-O $1 MS61 NGC. CDN: $1,600 Whsle. Bid for NGC/PCGS MS61. Mintage 4,900,000. ...
$1,525
1896-O $1 MS62 NGC. CDN: $2,200 Whsle. Bid for NGC/PCGS MS62. Mintage 4,900,000. ...
$2,257
1896-O $1 AU58 PCGS. CDN: $400 Whsle. Bid for NGC/PCGS AU58. Mintage 4,900,000. ...
$1,037
1896-O $1 AU55 NGC. CDN: $220 Whsle. Bid for NGC/PCGS AU55. Mintage 4,900,000. ...
$252
1896-O $1 AU53 ANACS. Housed in a small-sized holder. Mintage 4,900,000. ...
$139
1896-O $1 AU50 PCGS. CDN: $120 Whsle. Bid for NGC/PCGS AU50. Mintage 4,900,000. ...
$114
1896-O $1 XF45 PCGS. CDN: $80 Whsle. Bid for NGC/PCGS XF45. Mintage 4,900,000. ...
$109
1896-O $1 MS63+ PCGS. VAM-10A. The 1 in the date and Liberty's profile are doubled, a short horizontal die gouge juts horiz...
$5,520
1896-O $1 VAM-24 XF40 PCGS. Mintage 4,900,000....
$84
1896-O $1 VF35 CACG. Mintage 4,900,000. ...
$61
1896-O $1 MS64 PCGS....
$33,600
1896-O $1 Poor 1 NGC. NGC Census: (4/8413). Mintage 4,900,000. ...
$252
1896-O $1 MS65 NGC....
$96,000
1896-O $1 MS60 NGC. NGC Census: (251/1175). PCGS Population: (129/1492). CDN: $1,650 Whsle. Bid for NGC/PCGS MS60. Mintage ...
$1,550
1896-O $1 Morgan Dollar -- Struck Through Reverse -- VF25 PCGS....
$169
1896-O $1 ICG VF20
$45
1896-O $1 PCGS UNC Details (Filed Rims)
$111
1896-O $1 VF30 NGC. NGC Census: (19/4847). PCGS Population (23/4656). Mintage: 4,900,000. Numismedia Wsl. Price for problem...
$35
1896-O $1 G6 ANACS. Vam-1. NGC Census: (0/3791). PCGS Population (8/3364). Mintage: 4,900,000. Numismedia Wsl. Price for N...
$19
1896-O $1 MS66 PCGS. "No other Morgan dollar is as consistently deficient in luster, strike, and degree of surface abrasio...
$345,000
Greysheet News
Prominent Collector Dell Loy Hansen Submitting His Historical Collection Of U.S. Coins To CAC Grading
8/8/2024
American Numismatic Association's Largest Coin Show, August 6-10 In Chicago
Dazzling rarities, free educational opportunities, family fun and more await at the Donald E. Stephens Convention Center
7/25/2024
United States Mint Unveils Designs For The 2025 United States Marine Corps 250th Anniversary Commemorative Coin Program
The designs will be featured on a $5 gold coin, a $1 silver coin, and a half dollar clad coin.
7/23/2024
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