1893-S Morgan Silver Dollar (1893-S Morgan S$1) NGC XF40. Within the protected areas of this rare 1893-S Morgan Dollar, some mint luster is seen. On the obverse we see very light toning on Libertys cap and hair with darker toning towards the rim. Similarly, on the reverse, we see a light eagle and wreath with darker toning in the field. There are a couple of small contact marks in front of Libertys brow and a few ticks in the reverse field and hidden in the eagles feathers.

Light, even wear is seen on the hair above Libertys ear and the breast feathers, in keeping with the grade. The strike is average on the obverse and somewhat stronger on the reverse. The 1893 Morgan dollars were the third obverse design for the series. Slight modifications were made for each type. On this one the breast of the eagle is rounded and full. The top arrow feather is not parallel to the others. It slants upward. This design was used for all dollars from 1879 to 1904, except for some 1879-S and 1880-CCs.

With a mintage of just 77,000, the 1893-S has the lowest business strike mintage in the Morgan Dollar series. Only a small percentage actually reached circulation because most were melted under the provisions of the 1918 Pittman Act. Because it is rare, authentication is required. Many uncertified examples are seen with altered dates. Some have a mintmark attached to a genuine Philadelphia 1893 issue. On all authentic coins, the upper left edge of T in LIBERTY has a raised line that goes through the crossbar.

Collecting coins by mint mark was not very popular until 1909 with the advent of the mint marked Indian and Lincoln cents. Prior to that date, coins were mainly collected by date. Many of the 1893-S dollars that might have been preserved were not saved because numismatists had little interest in the branch mints.

When the Treasury Department released its hoard of silver dollars in 1962-63, large numbers of dates considered to be rare suddenly became available. Early 1880s Carson City dates, for example, were now on the market in quantity. However, no 1893-S dollars were in the release.