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The 1885-O Morgan Silver Dollar is a remarkable piece of American numismatic history, struck at the New Orleans Mint during a period of significant economic and political transition in the United States. The Morgan Dollar, designed by U.S. Mint Chief Engraver George T. Morgan, is one of the most iconic coins in the history of American coinage. The 1885-O, in particular, stands out due to its relatively lower mintage compared to other Morgan Dollars, making it a highly coveted coin among collectors today. This coin is highly regarded for its beauty, historical importance, and relative rarity, especially in higher grades like the MS65+ grade offered by NGC (Numismatic Guaranty Corporation).
Struck in 1885, the 1885-O Morgan Dollar was part of the larger series of coins minted between 1878 and 1904, then again in 1921. These coins were produced as part of the efforts to help stabilize the U.S. economy following the Panic of 1873, which led to an increased demand for silver coinage. The Coinage Act of 1878 authorized the creation of the Morgan Dollar to provide a solution to the over-abundance of silver in the country. As a result, Morgan Dollars became a staple of U.S. currency throughout the late 19th and early 20th centuries. The 1885-O, specifically, was minted at the New Orleans Mint, which was a vital minting facility in the United States at the time, especially for producing silver coins.
The New Orleans Mint, operational from 1835 to 1909, had a unique place in U.S. minting history. It served as a major producer of coins for the southern states, which were heavily dependent on silver mining. However, the New Orleans Mint had a checkered history, including disruptions during the Civil War, which led to interruptions in its coin production. Despite these challenges, the mint continued to produce high-quality coins like the 1885-O Morgan Dollar, which is now highly prized by collectors. While the total mintage for the 1885-O Morgan Dollar was approximately 7.7 million coins, a significant portion of these were circulated heavily, leading to a scarcity of well-preserved examples, particularly in higher grades.
The design of the 1885-O Morgan Dollar is widely considered one of the most beautiful and enduring designs in U.S. coinage. The obverse of the coin features the profile of Lady Liberty, who is depicted facing left, wearing a Phrygian cap and a laurel wreath. These elements symbolize liberty and freedom, while the inscription "LIBERTY" can be found above her head. Surrounding Lady Liberty are 13 stars, representing the original thirteen American colonies. The reverse of the coin features a bold, majestic bald eagle with outstretched wings, holding a bundle of arrows in one claw and an olive branch in the other, signifying the balance of war and peace. The eagle is encircled by the words "UNITED STATES OF AMERICA" and "ONE DOLLAR," with the national motto, "E PLURIBUS UNUM," displayed prominently on a ribbon beneath the eagle. This powerful design has made the Morgan Dollar one of the most recognizable coins in the world.
Over time, silver coins like the Morgan Dollar, especially those struck at the New Orleans Mint, began to accumulate a natural patina. This toning, which occurs as the silver interacts with the air and environment over time, can vary greatly in appearance, adding to the uniqueness of each coin. Toning can range from subtle hues to vibrant shades of blue, purple, and gold, and it is often considered a desirable characteristic for collectors. In the case of this specific 1885-O Morgan Silver Dollar, the coin displays a stunning, vibrant array of toning that enhances its aesthetic appeal. The rainbow-colored toning that graces the surface of the coin makes it a visually striking example of a well-preserved piece of history. Toning is a natural process, and coins that have developed it are often more sought-after, as they represent a piece of history that has been preserved over the years.
The 1885-O Morgan Dollar has been graded MS65+ by NGC, indicating that it is in extremely high condition. The MS65+ grade is a designation that signifies a well-preserved coin, with only minimal signs of wear or abrasions. These coins are nearly perfect, retaining much of their original mint luster. The "+" designation means that the coin has exceeded the high standards of MS65 and is closer to a perfect MS66, making it one of the best-preserved examples of this particular date and mintmark. The MS65+ grade is highly coveted by collectors, as it represents an excellent balance of rarity and quality. Coins that are graded at this level are not only more valuable but also considered more aesthetically pleasing, with excellent eye appeal and minimal imperfections. For collectors seeking Morgan Dollars, the MS65+ grade is an ideal choice, as it provides a pristine, yet affordable, example of this historic coin.
In terms of mintage, the 1885-O Morgan Dollar had a relatively high total mintage, with approximately 7.7 million coins struck at the New Orleans Mint. However, most of these coins circulated heavily during the late 19th and early 20th centuries, which led to a significant reduction in the number of coins that remained in uncirculated condition. Today, examples of the 1885-O Morgan Dollar in high-grade conditions such as MS65+ are relatively rare, and those with attractive toning are especially sought-after by collectors. The rarity of these coins in top condition, coupled with the historical significance and iconic design, makes the 1885-O Morgan Dollar a highly desirable item for numismatists and investors alike.
In conclusion, the 1885-O Morgan Silver Dollar, graded MS65+ by NGC, with its beautiful toning, represents a remarkable piece of American history. The Morgan Dollar series, produced from 1878 to 1904 and again in 1921, remains one of the most popular and collected coin series in the world. The 1885-O is a key date in the series, and its high-grade condition and stunning toning make it a valuable addition to any collection. Whether for its historical significance, beautiful design, or rarity, the 1885-O Morgan Dollar continues to captivate collectors and investors, ensuring its place as one of the most beloved coins in U.S. coinage.