Owner Comments:
The 1878-S mintage approaches 10 million coins. Leroy Van Allen and George Mallis, in their 1991 Morgan and Peace Dollars reference, cite an April 18, 1878 New Alta California account of the first Morgan dollar striking at San Francisco. The initial striking took place at half past three in the afternoon of April 17. Former governor F.F. Low, mint officers, and the press were in attendance. San Francisco Mint superintendent Henry L. Dodge was Master of Ceremonies, and under his direction the coins were struck. Dodge placed the first planchet in the press, then presented the first struck coin to coiner Cicott. The second went to former governor Low, the third, fourth, and fifth to three ladies present, and others to different gentlemen present. Nearly one thousand coins were struck, when one of the dies broke. The press was stopped, and further coinage was suspended until the following day.
David Bowers (1993) believes that the majority of the 1878-S dollar mintage was stored at the San Francisco Mint, to be paid out over a period of subsequent decades. The abundance of this date on the market is reflected in the population data. Tens of thousands have been certified through MS65.