Rare Morgan Silver Dollar Found In Store Fetches $2.8 Million At Auction

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In an unexpected twist of modern treasure hunting, a rare Morgan Silver Dollar tucked away in a small Midwestern antique store has fetched a staggering $2.8 million at auction.

Originally priced at just $35, this exceptional coin turned what looked like routine retail into a jaw-dropping windfall—captivating numismatic enthusiasts and the general public alike.

Discovery: From $35 to Millions

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The discovery began when a collector, browsing a family-owned antique shop, spotted a faded coin labeled simply “Old Silver Dollar” with a modest $35 price tag.

Intrigued, the collector sought expert authentication and learned the coin was no ordinary relic—it was an 1893-S Morgan Silver Dollar graded MS-66, putting it among the rarest and most pristine specimens known today.

Auction Results

Coin FeatureDetails
Year & Mint Mark1893-S (San Francisco)
GradeMS-66 (near-perfect condition)
Original Price$35
Final Auction Price$2,800,000
Rarity FactorsLowest mintage Morgan; key date issue
Condition ImportanceUncirculated, sharp details retained

Why the 1893-S Morgan Is So Valuable

Several factors contribute to the coin’s astronomical value:

  • Extremely Low Mintage: Only 100,000 coins were minted at the San Francisco facility in 1893, making it the rarest business-strike Morgan Dollar.
  • Stunning Condition: The MS-66 grade denotes exceptional preservation—almost flawless in visual and structural integrity.
  • Historical Significance: Symbolizing the post-Gold Rush era and the nation’s economic transitions, the Morgan Dollar holds deep historical resonance.
  • Collector Demand: As a pivotal “key date” in a beloved series, the 1893-S draws intense interest from collectors eager to complete their sets with the rarest issues.

Background: The Legacy of Morgan Dollars

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First minted in 1878 after the Bland-Allison Act, Morgan Silver Dollars were U.S. currency until 1904 and briefly again in 1921.

Named after engraver George T. Morgan, these coins are noted for their iconic Lady Liberty and eagle designs.

Only the 1893-S stands out in rarity—thanks to its low production and the fact that many were melted during the Pittman Act era, drastically reducing surviving examples.

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The discovery of the $2.8 million Morgan Silver Dollar is a rare moment where ordinary retail met extraordinary value.

Found in a dusty antique shop, graded in near-mint condition, and sold for a record-setting price, the 1893-S Morgan Dollar exemplifies how history, condition, and rarity can converge into a once-in-a-lifetime treasure.

Whether you’re a collector or just curious, this story shows that remarkable discoveries might just be hiding in plain sight.

FAQs

What makes the 1893-S Morgan Silver Dollar so rare?

Only 100,000 were minted in San Francisco. Many were later melted, and very few survive in pristine, uncirculated condition.

Why did this coin fetch $2.8 million?

Its MS-66 grade, extreme rarity, and historical significance combined to create fierce collector demand, driving the final price to a stunning $2.8 million.

Are Morgan Dollars still produced today?

Yes—they were briefly struck again in 2021 for collectors, but the classic Morgan Silver Dollar series remains a key piece of U.S. coinage history.