1886-O MORGAN S$1 MS64+

GEM SATIN WHITE LUSTROUS SURFACES. JUST THREE COINS GRADED HIGHER. CAC. Unlike the preceding three New Orleans Mint deliveries in the Morgan Dollar series, the 1886-O is scarce in Mint State. The exact reasons for this are unknown, as a sizeable original mintage of 10.7 million pieces should have guaranteed the ready availability of Uncirculated survivors. Probably thousands of '86-O Morgans remained in federal vaults after striking and were later melted as part of the 270,232,722 Silver Dollar destroyed pursuant to the terms of the 1918 Pittman Act. When offered in Mint State at all, the 1886-O is apt to grade no higher than MS-62. The occasional Choice example is available, while Gems are virtually unobtainable.