1879 Morgan Dollar
Guidelines for Collecting:
1879 Philadelphia Mint dollars are plentiful in both circulated and Mint State grades, no surprise given its mintage of nearly 15 million coins. The quality of Mint State coins varies in strike and luster. All 1879 dollars have the Third Reverse type with slanting top arrow feather (SAF) and convex breast on the eagle. Most Mint State dollars are well struck, yet many exist with flat breast feathers on the eagle and buyers are advised to look for sharply struck coins—which should not present a problem. Certified coin holders do not take strike into consideration. For any and all Morgan dollars, cherrypicking for strike and eye appeal will pay dividends and costs no more.
Lower grade Mint State coins are likely to be heavily bagmarked from decades of Treasury storage, moving, and counting. Circulation strike coins are usually well struck though many show a lightness of center details noticeable above the ear of Miss Liberty. This was due in part to imprecise spacing and/or the fact that dies were used for a long time in the presses.
Availability in Circulated Grades:
All circulated grades desired can be found for this Philadelphia Mint issue though many lower grade coins find their way to melting pots whenever silver spikes in value. Pleasing AU examples abound. These were sent into circulation in large numbers at the time of striking.
Availability in Mint State Grades:
Large supplies of this date have always been available, even in the 1950s when bag quantities changed hands with regularity. By the time of the Treasury releases in the early 1960s Uncirculated supplies of the date in the hands of Uncle Sam had been all but exhausted. Any Mint State grade can be found today, even at the Gem level though coins that might be considered “ultra-gem” in quality are not so common.
Availability in Proof:
Probably more than half the Proof mintage for the date can be found today. Proofs are readily available to all who seek an example. Proofs of the date are sometimes lacking in aesthetic quality and wise collectors seek out those examples with bold details, some cameo contrast, and exceptional eye appeal—such Proofs are in the minority for the date. Again, cherrypicking for quality is the way to go. Probably, fewer than 10% of buyers do this, as most rush for completion.
The example to the left was sold by Stack's Bowers Galleries in the August 2018 ANA Auction, where it realized $5,040.
1879 Morgan Dollar Auction Highlights
 NGC PF-68 Cameo Sold for $43,200 View Lot 7074 |  PCGS MS-65 DMPL Sold for $14,375 View Lot 4027 |  PCGS PR-65+, CAC Sold for $10,800 View Lot 3031 |
