1893-S Morgan Silver Dollar (1893-S Morgan $1) PCGS VF25. Clean fields and devices characterize this key date 1893-S Morgan Dollar. There are no distracting bag marks, chatter, or any other distractions considering that this is a circulated coin. On the obverse, about two-thirds of the hair show very plainly, and the ear is well defined. On the reverse, except for the center of the eagles breast, most of the feathers show plainly. The coin shows a light grey portrait and field on the obverse with somewhat darker toning near the edge.

The reverse, which is also light grey, has more toning in the field. The 1893-S is the key to the series and has the lowest mintage of any date, aside from the 1895 Proof coin. It is rare in all grades because of its limited mintage, its having been melted as a result of the Pittman Act of 1918, and a lack of numismatic care in the early days when for the most part mint marks were disregarded by collectors.

In the early 1960s the Treasury Department released large amounts of Morgan dollars to the public. Many dates that had previously been thought of as rare became available as a result of this release; however, the 1893-S was not among them. It is still elusive in all grades and always in demand by dollar specialists, investors, and collectors.