Scott's Morgans
1882-O

Owner Comments:

Like many of the New Orleans issues, the 1882-O was considered a scarce date half a century ago. That is because a substantial portion of the original 6 million coin mintage remained hidden in Treasury vaults. Many millions of silver dollars were stored in the Treasury as security for silver certificates that were printed in massive quantities. For each dollar in silver certificates, the government was required to store a dollar in silver coins. Silver dollars were obviously the most convenient way to meet the requirement. The Treasury released many of those silver dollars during the period from 1962 to 1963. In his Silver Dollar Encyclopedia, Dave Bowers wrote of the Treasury release: 'the 1882-O was solidly entrenched as one of the most common issues in the series.