Scott's Morgans
1893-O

Owner Comments:

The 1893-O has the lowest mintage of all New Orleans dollars with only 300,000 pieces struck. After all the circulated, heavily bagmarked, and weakly struck coins are factored out of the number that remain, one realizes that this is a very challenging issue from the 1890s.

As 1893 began, the American economy experienced a deep depression. Many lost their jobs, banks closed and business slowed quickly. The need for new coinage fell too, with orders falling to a fraction of previous years during better economic times. What few Morgan dollars were coined likely sat around in vaults, only to be scooped up in 1918 to be melted under the Pittman Act. Hence, this date is quite rare and very difficult to find in Gem condition.