The unprecedented crossover underscores his personal efforts to combat “grade inflation.”
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: Although the mintage of 5,000,000 would suggest plenitude in the numismatic market today, such is not the case. Years ago the 1896-S was a key issue in all grades, and today, despite some turned loose in the Treasury releases, the 1896-S is still high on the most-wanted list. Striking varies, but is usually soft. Luster is average or somewhat shallow, not deeply frosty. Bagmarks are a problem. Accordingly, connoisseurship is needed to find a just-right example, an exception to the general rule that San Francisco Mint coins offer few problems. Mint State coins, especially true of MS-64 or higher grades, are rare. Circulated examples are scarce, but not rare. Likely, most of this generous issue went to the melting pot.
Surface Quality: Usually average or a bit below, but sharp pieces can be found with searching. Usually somewhat subdued, unlike most other San Francisco Mint dollars of the era.
Prooflike Coins: Prooflike strikes are rare but win no awards for beauty. This feature was caused by the basining process, and many raised die-swirl lines are usually seen.
Mintage and Distribution: Delivery figures by month: January, 0; February, 100,000; March, 100,000; April, 250,000; May, 300,000; June, 300,000; July, 600,000; August, 750,000; September, 800,000; October, 550,000; November, 800,000; December, 450,000. Probably a million pieces or so were placed into circulation, and most others melted. However, some remained stored at the San Francisco Mint. On occasion a bag or two would be turned loose, but never a flood. By the 1970’s the issue was viewed as being rare in Mint State.
VARIETIES:
Minor varieties of date and mintmark positions.
Catalog Information
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Values
| Grade | CAC | CPG Value (Retail) | Greysheet Price (Wholesale) |
|---|---|---|---|
| MS67 |
|
$230,500 | $1,234 |
| MS67 | - | $192,000 | $1,234 |
| MS66 |
|
$1,234 | $1,234 |
| MS66 | - | $1,234 | $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 |
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