1879-O Morgan Dollar
Guidelines for Collecting:
The New Orleans Mint reopened in 1878 and was refurbished. In 1879 the Mint struck silver dollars and also a limited number of double eagles. After 1879 the New Orleans Mint intermittently struck various denominations until it closed in 1909. Morgan dollars were made there from 1879, as here, until 1904.
The 1879-O dollar is plentiful in lower Mint State levels from 60 through 63. MS-64 coins are scarce and in proportion to the demand for them, MS-65 pieces are rare. Coins in AU grade, once called “slider Uncirculated,” are plentiful. Circulation strikes vary from sharp to average or below average. Luster is typically frosty and attractive, although bagmarks are a huge problem. It is believed that 12 Branch Mint Proofs were struck on February 20, 1879, to commemorate the reopening of the New Orleans Mint, but fewer than six have been traced to date.
Availability in Circulated Grades:
The 1879-O is available in circulated grades from well-worn up to AU with such high-end circulated pieces in abundance. Look for an AU with as few bagmarks as possible.
Availability in Mint State Grades:
The date exists in large numbers in Mint State with examples ranging from the low end of the spectrum up to and including the Gem MS-65 grade. Prior to the 1950s this date was looked upon as a scarcity in any grade, especially Mint State, but by 1957 bag quantities had been released and the value of the date plummeted. The value has rebounded in the 21st century. We suggest that MS-64 is the ideal grade for this date—plenty of eye appeal but easy on the wallet. Just be certain to cherrypick the specimens with the fewest bagmarks.
Availability in Proof:
Fewer than 6 of the believed 12 Branch Mint Proofs have been traced to this day. In the August 2020 Auction, Lot 2806 (shown below) featured an EF Details 1879-O Morgan Dollar that was the first dollar produced at the New Orleans Mint on an adjusted planchet.
The example to the left was sold by Stack's Bowers Galleries in the August 2019 ANA Auction, where it realized $12,600.
1879-O Morgan Dollar Auction Highlights
 PCGS PR-64 BM Sold for $184,000 View Lot 3104 |  NGC PF-66* Ultra Cameo Sold for $158,125 View Lot 7434 |  NGC EF Details (Presentation Piece) Sold for $19,200 View Lot 2806 |
