1893-S Morgan Dollar (1878-1921)

Intriguing History

By 1893, the Sherman Silver Purchase Act that had propped up Morgan dollar production for years was repealed amid a national financial panic, and San Francisco struck just 100,000 dollars that year, the lowest business-strike mintage of the entire series. Most were shipped straight into bank vaults and later melted rather than saved by collectors, leaving survivors scarce today. That mix of a tiny mintage and heavy attrition has earned the 1893-S a long-standing reputation as the "king" of Morgan dollar rarities.