1893-S Morgan Silver Dollar (1893-S Morgan S$1) NGC XF45. This key date 1893-S Morgan Dollar  is silver-grey with tan, light blue, and light orange tints. Hints of mint luster are visible within the devices on the obverse. All the hairlines are very plain; they show wear above Libertys ear. The ear is bold with its lines raised. Except for some wear on the eagles breast, the details of the reverse are very clear. The strike is above average with most of the hair above the brow visible and the wing tips and most of the details on the wreath apparent.

The 1893-S is the key to the series because it has the lowest mintage of any date, aside from the 1895 which is only available as a proof coin. In the Morgan dollar series, the 1893-S is rare in all grades because its mintage was limited. Also, as a result of the Pittman Act of 1918, it was heavily melted. In addition there was a lack of numismatic care because in the early days, collectors tended to disregard mintmarks and collected coins by date.

The Morgan dollar was minted from 1878 to 1921. Many enthusiasts pursue and collect Morgan silver dollars in higher grades. This practice results in huge price jumps for small differences from one grade to the next. For example, the next grade for the present coin represents at least a doubling of the price.

Extremely large amounts of Morgan dollars were released to the public in the early 1960s. Many previously rare dates became available as a result; however, one that was not among them was the 1893-S. It is desirable in all grades and always in demand by dollar specialist, investors, and collectors.