1902-O $1 MS DMPL

Key to Collecting: Some Mint State pieces are lustrous and attractive, but there is no reason to alter what Wayne Miller wrote in 1982: “Typically among the poorest struck of the late New Orleans dollars. Most are flatly struck with horrible luster.” That said, where to from here? Is there hope? Yes there is, and cherrypicking can be done to great advantage. The 1902-O came out of the floodgates during the great Treasury release of November 1962 and later, and virtually countless pieces are in the marketplace.

Surface Quality: Generally the 1902-O is lightly struck at the centers. Some concentrated effort is needed to find sharp pieces, but, again, the advantage is that certification services take no notice, and such can be yours for the finding while 90% or more of your competitors in the market simply don’t care. Some Mint State piece are lustrous and attractive, but most are not (see introductory comments).

Prooflike Coins: Some prooflikes exist but are not of high contrast, although there are exceptions.

Mintage and Distribution: Delivery figures by month: January, 1,500,000; February, 750,000; March, 750,000; April, 500,000; May, 1,000,000; June, 320,000; July, 550,000; August, 1,000,000; September, 1,200,000; October, 500,000; November, 500,000; December, 66,000. Dollars of the 1902-O variety were paid out in circulation over a long period of time. In the late 1950’s and in the early 1960’s enough bags were released that dealers were well supplied. In 1962 hundreds of thousands more were distributed from storage at the Philadelphia Mint.

Many varieties exist, some with new hub (introduced in 1900), and others with new hub over old hub, and with some slight features of the undertype visible; check VAM for details. For use this year, 140 obverse and 107 reverse dies were made. Most 1902-O dollars have a medium-sized mintmark.

1902-O, Micro O Mintmark—VAM-3. Small mintmark, rare, and typically seen well worn.