The 1878-S Morgan Dollar, graded PCGS MS65, is a fascinating piece of numismatic history, especially with its very original color and distinct rust tone. This coin, often sought after by collectors for its semi-key date status, offers a unique glimpse into the rich history and artistry of American coinage.
Historical Background
Introduction to the Morgan Dollar The Morgan Dollar, named after its designer George T. Morgan, was minted from 1878 to 1904 and again in 1921. It is one of the most popular and widely collected series of U.S. coins. The 1878-S issue, struck at the San Francisco Mint, holds a special place due to its relatively lower mintage compared to other years.
Significance of the 1878-S Issue The 1878-S Morgan Dollar is particularly noteworthy as it was one of the first Morgan Dollars minted. The San Francisco Mint was known for producing high-quality strikes, and the 1878-S is no exception. Its semi-key status makes it a desirable coin for collectors aiming to complete a Morgan Dollar set.
Design and Features
Obverse The obverse of the Morgan Dollar features a profile portrait of Lady Liberty, adorned with a Phrygian cap, symbolic of freedom and liberty. Morgan’s intricate design includes the word “LIBERTY” inscribed on a ribbon, along with 13 stars representing the original colonies.
Reverse The reverse showcases a majestic eagle with outstretched wings, holding an olive branch and arrows, signifying peace and readiness for war. The motto “IN GOD WE TRUST” is prominently displayed above the eagle, surrounded by the inscriptions “UNITED STATES OF AMERICA” and “ONE DOLLAR.”
Special Attributes
- Original Color and Rust Tone: The 1878-S Morgan Dollar in question exhibits very original color with a rust tone. This natural toning adds a layer of historical authenticity and visual appeal, indicating the coin has aged gracefully over the years.
- PCGS MS65 Grade: Graded MS65 by the Professional Coin Grading Service (PCGS), this coin is in mint state condition with strong eye appeal. The high grade signifies minimal contact marks and excellent luster, making it a prime example of its type.
Rarity and Collectibility
Semi-Key Date Status The 1878-S Morgan Dollar is considered a semi-key date due to its relative scarcity in higher grades. Collectors often seek semi-key dates to enhance the value and completeness of their Morgan Dollar collections.
Desirability of Toned Coins Coins with original toning, such as the rust tone on this 1878-S Morgan Dollar, are highly prized by collectors. Toning patterns are unique to each coin, resulting from years of exposure to environmental factors. This originality and uniqueness add a premium to the coin’s market value.
Market Value
Current Market Trends In recent years, the market for high-grade Morgan Dollars has seen significant interest. Coins graded MS65 and higher, especially those with attractive toning, command premium prices at auctions and from private collectors.
Premiums for Toning The rust tone on this 1878-S Morgan Dollar enhances its desirability and value. Collectors are willing to pay higher prices for coins with natural toning, viewing them as more authentic and aesthetically pleasing.
Conclusion
The 1878-S Semi Key Morgan Dollar PCGS MS65 with very original color and rust tone is a remarkable piece of American numismatic history. Its combination of historical significance, high grade, and unique toning makes it a coveted addition to any collection. Whether you are a seasoned collector or a novice enthusiast, this coin embodies the beauty and allure of the Morgan Dollar series, offering both an investment opportunity and a tangible connection to America’s past.
