1897-O $1 MS DMPL

Key to Collecting: The 1897-O is a cherrypicker’s dream. Most are poorly or lightly struck, and on most the luster is below par as well. However, there are exceptions. While others buy certified coins of blah quality, you can track down a nice one—say, a hand-picked MS-63. A choice MS-64 or a gem MS-65 is expensive, and not easily ordered just anywhere! The 1897-O is not a key date and not much attention is paid to it by the average collector. At least, if you spend a handsome sum for a gem Proof 1895 dollar (a heck of a lot cheaper than a gem 1897-O), others at your local coin club will share your excitement.

Surface Quality: Strike ranges from poor to below average, not a good sign, but enough sharp pieces exist that with searching one can be found. The luster on 1897-O usually is dull and lifeless, mounting a challenge to be combined with searching for a sharp strike.

Prooflike Coins: Prooflike coins are rare, and when seen are usually extensively bagmarked.

Mintage and Distribution: Delivery figures by month: January, 240,000; February, 540,000; March, 600,000; April, 600,000; May, 600,000; June, 400,000; July–September, 0; October, 220,000; November, 450,000; December, 354,000. Mint State specimens of the 1897-O dollar are seen now and then on the market from bags paid out much earlier than 1962. From the Treasury Building in Washington, D.C., bags were distributed in the late 1940’s and early 1950’s, but there was hardly any investor interest, and most went here and there. To investors in dollars during the 1950’s and 1960’s we all need to express thanks, in retrospect, for saving millions of Morgan dollars that might otherwise have gone to Nevada casinos or into general circulation.

Minor varieties of date and mintmark positions from 22 die pairs shipped to New Orleans.