-
Inventory:
1 In Stock
- Product ID: 57172
Checkout
The Certified Morgan Silver Dollar 1894 MS62 PCGS is a notable example from one of the most historic and widely collected coin series in American numismatics. Minted during a year of dramatically limited silver dollar production, the 1894 Morgan Dollar stands out not only for its scarcity but also for its role in the waning years of the free silver movement and the broader context of late 19th-century American monetary policy. Graded MS62 by the Professional Coin Grading Service (PCGS), this coin offers both collectors and investors an opportunity to own a Mint State specimen of one of the key conditional rarities in the Morgan Dollar series. Its solid uncirculated grade reflects visible mint luster and moderate marks, making it a highly attractive piece for those building a serious set.
The Morgan Silver Dollar was designed by George T. Morgan, an English engraver recruited by the U.S. Mint in the late 19th century. First issued in 1878, the coin was named after him and replaced the Seated Liberty Dollar. The design marked a turning point in U.S. coinage by introducing a more youthful and distinctly American representation of Liberty. Morgan’s Liberty, modeled on Anna Willess Williams, wears a Phrygian cap adorned with agricultural motifs, symbolizing both freedom and the nation’s agrarian roots. The reverse features a bold and detailed eagle, wings outstretched, clutching arrows and an olive branch, encircled by the legend “UNITED STATES OF AMERICA” and the denomination “ONE DOLLAR.” The phrase “In God We Trust” appears prominently above the eagle.
The 1894 Morgan Silver Dollar was produced at just two mints: Philadelphia and San Francisco. The Philadelphia Mint, which struck the example in question, saw the lowest regular-issue mintage of any non-proof Morgan Dollar struck at that facility—just 110,000 coins. The dramatically reduced mintage was largely a consequence of declining demand for silver dollars following the repeal of the Sherman Silver Purchase Act in 1893. The economic depression of the early 1890s, combined with shifting political and monetary priorities, contributed to the sharp decline in silver coin production. Unlike more plentiful dates in the series, the 1894 Philadelphia Morgan is recognized by collectors as a low-mintage key coin that is genuinely scarce in all grades.
Coins from the 1894 Philadelphia issue were struck using the standard specifications for Morgan Dollars: 90% silver and 10% copper, with a diameter of 38.1 millimeters and a total weight of 26.73 grams. Each contains 0.77344 troy ounces of pure silver. As a business strike rather than a proof, the coin was intended for circulation, though relatively few found their way into daily commerce due to limited demand. The 1894 Morgan was mostly stored in vaults and later released or melted under the provisions of the 1918 Pittman Act, making survivors in high grades particularly elusive. The survival rate is believed to be low, and Mint State examples—especially those certified by PCGS—carry a substantial premium.
The PCGS MS62 designation indicates that the coin is uncirculated with no signs of wear but may exhibit noticeable bag marks or abrasions, especially in the fields and high points. Nevertheless, the coin retains its original mint luster and sharp detail, especially in the devices such as Liberty’s hair curls and the eagle’s feathers. At this grade level, the 1894 Morgan offers strong eye appeal while remaining more accessible than higher-graded specimens, which can command prices exponentially greater. Collectors value MS62 examples for their balance of affordability and condition, particularly when the date is as rare and significant as 1894.
The surfaces of the coin may show a moderate to high number of contact marks, particularly in the open fields surrounding Liberty and the eagle. However, coins certified MS62 by PCGS are rigorously examined to ensure that they meet industry standards for uncirculated condition. PCGS is one of the most respected grading services in the world, and its encapsulated holders offer long-term preservation and verification of authenticity. The presence of the PCGS label gives buyers and collectors confidence in the grade, and PCGS-graded coins tend to be preferred in the marketplace, especially for key-date issues like the 1894 Morgan.
The 1894 Morgan Silver Dollar has long been regarded as a collector favorite due to its rarity and mystique. With a mintage of only 110,000 and an unknown but likely small surviving Mint State population, it is one of the more difficult Philadelphia issues to locate in high grades. Most known examples exist in circulated grades, making this certified MS62 specimen all the more desirable. The coin's scarcity is compounded by the fact that very few were set aside by collectors at the time of issue, as interest in Morgan Dollars had waned significantly by the mid-1890s.
Collectors pursuing a complete Morgan Dollar set will eventually face the challenge of locating an 1894 in uncirculated condition. While not as elusive as the ultra-rare 1893-S, the 1894 is still considered a semi-key date and is widely recognized for its importance within the series. Its appeal is magnified when housed in a reputable PCGS holder, which not only certifies the grade but also preserves the coin in a tamper-evident, sonically sealed slab that ensures long-term stability and marketability.
The market for key-date Morgan Dollars remains strong, and the 1894 issue consistently ranks among the top collector targets. Its low mintage, historical context, and rarity in Mint State have made it a solid performer in terms of value appreciation over time. While MS63 and MS64 examples command very high premiums, the MS62 grade offers a practical alternative for advanced collectors who wish to acquire a superior example without entering the realm of ultra-premium pricing. These coins are often included in registry sets and are frequently the centerpiece of high-grade Morgan collections.
The Certified 1894 Morgan Silver Dollar MS62 PCGS is more than a coin—it is a preserved artifact from a turbulent and transformative period in American monetary history. It combines the artistry of George T. Morgan, the legacy of the Philadelphia Mint, and the economic shifts of the late 19th century into a single, certified, and historically resonant numismatic treasure. With its classic design, sovereign silver content, and PCGS-certified Mint State condition, it represents both an important acquisition for the dedicated Morgan collector and a valuable investment in American coinage heritage.