1904 $1 MS PL

Key to Collecting: As the curtain rings down on the production of Morgan dollars, and the dies and hubs are about to be put into storage, the swan song at the Philadelphia Mint is off-key. Most coins seen today are poorly to indifferently struck and with poor luster—all in all, rather sorry looking. If you want quality, some intense cherryp icking is called for. Nice coins do exist, but if choice or gem and well struck they can be expensive. Most such coins are from old-time collections or holdings (such as a group that Dr. Richard A. Bagg unearthed in Florida years ago) and are lightly, often attractively, toned. The Treasury-release coins are usually subpar.

Surface Quality: The strike varies and is usually of only medium quality. According to Wayne Miller, “Most 1904 dollars give the appearance of being poorly struck. It is hard to believe that the same mint that produced the very beautiful 1903 dollar could, one year later, produce such an inferior dollars as the 1904.” Sharp pieces can be found, but some searching is required. The luster is usually fairly shallow, not at all deep or flashy. To find a deeply lustrous, sharp 1904 will be a challenge.

Prooflike Coins: Some prooflikes exist but are not of high contrast.

Mintage and Distribution: Delivery figures by month: January, 2,200,000; February, 66,000; March–May, 0; June, 522,000; July–December, 0. Although it is likely that many 1904 dollars were stored by the Treasury Department, no record has been found of a particularly spectacular release. Some bags came out in the early 1940’s, others in the 1950’s, and a few more in the early 1960’s, but few turned up in dealers’ hands.

Mintage: 650. Delivery figures by month: January–February, 0; March, 275; April– May, 0; June, 65; July–August, 0; September, 10; October–November, 0; December, 300. At least two obverse dies were used.

Key to Collecting: Some lightness at the centers. Undesirable chrome look to the motifs.

All are from the new hub (style of 1900).