1878-S Morgan Dollar
Guidelines for Collecting:
Mint State examples of the 1878-S dollar are plentiful, with many in MS-62 to MS-64. Like the 1878-CC Morgan dollar, this variety minted in San Francisco has the flat eagle’s breast, seven tail feathers, and parallel top arrow feature (PAF). Most examples are well struck with excellent luster. Many of the Mint State coins are heavily bagmarked. Some pieces show planchet striations on the face of Miss Liberty as well as some weakness at the lower part of the eagle. Prooflike examples are common, with at least 15,000 to 30,000 in existence.
Availability in Circulated Grades:
EF and AU examples of the date are in abundance today though lower grade coins are not so easy to come by; fortunately, there is no great demand for low-grade pieces.
Availability in Mint State Grades:
This is one of the most plentiful issues in the Morgan dollar series and tens of thousands no doubt exist. All grades from MS-60 up to the ultra-gem category can be found, the latter, of course, with some degree of difficulty. This date was stored in bag quantities in San Francisco and other locales, with numerous bags released in the early 1960s by the Treasury. Many bags found their way to Las Vegas for use in “one-armed bandits.”
Availability in Proof:
Officially, none produced. However, in the 1997 Louis Eliasberg Collection sold by Bowers and Merena, Inc. Lot 2254 (shown below) was listed as a Branch Mint Proof. NGC has since labeled this coin as a Specimen, as it was one of the first ten coins struck at the San Francisco Mint and exhibited exceptional striking quality.
The example to the left was sold by Stack's Bowers Galleries in the August 2019 ANA Auction, where it realized $19,200.
1878-S Morgan Dollar Auction Highlights
 PCGS PR-66 BM (Presentation Piece) Sold for $7,700 View Lot 2254 |  PCGS MS-67, CAC Sold for $14,687 View Lot 10183 |  PCGS MS-67, CAC Sold for $14,376 View Lot 3347 |
