1893 Morgan Dollar MS-62 PCGS

Product Details

This 1893 Morgan Dollar, graded MS-62 by PCGS, is a connection to a period of significant economic contraction in American history. With a significantly reduced mintage from the Philadelphia Mint, it speaks to the severity of the Panic of 1893.

The Panic of 1893 marked an economic maelstrom that swept across the United States. This period of intense financial instability, characterized by widespread business failures and bank closures, profoundly impacted daily life and, consequently, the U.S. Mint's production schedule. Against this backdrop of uncertainty, the Philadelphia Mint struck a comparatively modest 389,000 Morgan Dollars. This particular 1893 example, certified in Mint State 62 by PCGS, offers collectors a glimpse into an era when the nation grappled with monetary policy and economic contraction.

Designed by George T. Morgan, whose initial 'M' is subtly placed at the truncation of Liberty's neck, the obverse of this silver dollar features a majestic profile of Lady Liberty. She wears a Phrygian cap, adorned with wheat and cotton, symbols of America's agricultural prowess, along with a "LIBERTY" inscribed headband. The reverse presents an American eagle with outstretched wings, clutching an olive branch and arrows—emblems of peace and preparedness—within a wreath. The .900 fine silver composition of this dollar means it contains 0.7734 troy ounces of pure silver, with a diameter of 38.1 mm and a thickness of 3.1 mm.

The scarcity of the 1893 Morgan Dollar, especially those from Philadelphia, directly reflects the diminished demand for coinage during the economic downturn. This piece, with its denomination of One Dollar, transcends its monetary value, serving as a reminder of a turbulent period in America's industrial and financial development. For those who appreciate numismatic pieces that carry profound historical weight, this 1893 Morgan Dollar encapsulates the economic narrative of late 19th-century America.