1893-S Morgan $1 PCGS F12 CAC

The 1893-S Morgan Silver Dollar is one of the most sought after coins in the entire Morgan Dollar series. Known as the undisputed key date, it has a combination of very low mintage, extreme scarcity in all grades, and strong collector demand that has persisted for over a century. Struck at the San Francisco Mint, the 1893-S had a production of only 100,000 coins, the lowest business strike mintage of any Morgan Dollar. Survival rates are even smaller due to the extensive circulation these coins experienced in the late nineteenth and early twentieth centuries.

This example has been graded F12 by Professional Coin Grading Service, which means it exhibits strong detail for the grade, with all major design elements visible and evenly worn. The Certified Acceptance Corporation has placed its green sticker on the holder, confirming that the coin is solid for the grade and has strong overall eye appeal. CAC approved coins have a strong track record for holding and often increasing in value due to collector preference for quality within a given grade.

Designed by George T. Morgan, the obverse features a left facing portrait of Liberty wearing a Phrygian cap, adorned with agricultural motifs of wheat and cotton. The reverse displays an American eagle with outstretched wings, clutching arrows and an olive branch, encircled by the legend United States of America and One Dollar. On this 1893-S example, the S mintmark appears beneath the wreath on the reverse, signifying its origin at the San Francisco facility.

The year 1893 was a time of severe economic contraction in the United States, known as the Panic of 1893. Silver dollar demand from the Treasury Department was drastically reduced, leading to very small production numbers across the series, but none so drastically low as the San Francisco output. Many 1893-S dollars entered commercial channels and stayed there until they were worn nearly smooth. As a result, any example with clear design details is highly desirable today.

The appeal of this particular F12 graded coin lies in its balance between affordability and historic significance. While higher grade examples of the 1893-S command extraordinary premiums and are often out of reach for many collectors, a solid mid circulated coin like this allows ownership of the series key date without compromising authenticity or quality. The even wear and pleasing surfaces make it a perfect fit for a circulated Morgan Dollar set.

The silver content of the coin is 0.77344 troy ounces of fine silver, the standard for all Morgan Dollars. However, its collectible value far exceeds its melt value, driven by its place as the crown jewel of the series. Many advanced collectors will not consider a Morgan Dollar set complete without the 1893-S, and competition for even lower grade examples is strong.

Owning an 1893-S Morgan Silver Dollar PCGS F12 CAC means holding a tangible link to one of the most famous coins in American numismatics. It embodies a perfect storm of rarity, historic context, and collector demand. Whether for completion of a date and mintmark set, long term investment, or as a centerpiece coin in a specialized collection, this example stands out as a rare opportunity to acquire a legendary issue with quality confirmation from both PCGS and CAC.