1898 $1 MS DMPL

Key to Collecting: The 1898 Morgan dollar is plentiful in any and all grades, from worn (though usually in VF or EF, toned gray) to gem Mint State. Most are well struck and have good luster. Many Proofs exist in remarkably high grades. Perhaps due to the semimoribund state of the coin hobby (see yearly narratives for 1897 and 1898), not as many people were cleaning coins!

Surface Quality: Usually seen well struck. Usually with attractive mint frost.

Prooflike Coins: Many prooflike coins exist, one sided as well as two sided, but are not deeply mirrored. DMPL coins with cameo contrast are rare indeed.

Mintage and Distribution: Delivery figures by month: January, 650,000; February, 582,000; March, 600,000; April, 184,000; May, 520,000; June, 172,000; July, 100,000; August, 948,000; September, 800,000; October, 450,000; November, 572,000; December, 306,000. Similar to certain other high-mintage Philadelphia Mint dates, the dollars of 1898 were scarce in and after the time they were made, but later became exceedingly common. Many bags were paid out in the mid-twentieth century, with more appearing in the late 1950’s and early 1960’s. Out in Nevada, LaVere Redfield, dollar hoarder par excellence, got his hands on an estimated 16 to 18 bags, and many were held by other investors.

Mintage: 735. Delivery figures by month: January, 0; February, 225; March, 75; April–May, 0; June, 100; July–August, 0; September, 75; October–November, 0; December, 260.

Key to Collecting: Proofs typically have nice cameo contrast, and in recent years the certification services have been noting such on their labels. In addition, they are well struck. Michael Fuljenz: “This date was probably the best made in the entire series.”62

Minor varieties of date position from 30 pairs of dies prepared for circulation strikes. In addition, two obverses and three reverses were made for Proofs.