Owner Comments:
The usually seen example of this issue is poorly struck and lackluster. In his Silver Dollar Encyclopedia, Dave Bowers noted: "The typical Mint State coin is heavily bagmarked, has dull luster, and is poorly struck. As if that were not enough, it is apt to be in lower grade levels." Later, in The Official Red Book of Morgan Silver Dollars, the same author noted: "Prooflike dies were used extensively, and pieces with a degree of prooflike surface, sometimes deep and accentuated with cameo devices, are elusive, but not great rarities. However, most are lightly struck at the center."
Quantities of this issue were released from Treasury vaults over a period of years throughout the middle 20th century, with the latest coins being dispersed in 1964, among the last coins paid out. Nearly all of these coins from the Treasury were in the lowest Mint State grades. In fact, one silver dollar specialist stated that he actually found XF and AU grade coins in mint-sewn bags of these dollars.