Coin Specifications

Category: Morgan Dollars (1878-1921)
Mint: Philadelphia
Mintage: 110,972
Catalog: KM-110
Composition: Silver
Fineness: 0.9000
Weight: 26.7300g
ASW: 0.7734oz
Melt Value: $12.56 (11/1/2014)
Diameter: 38.1mm
Numismatic specification data provided by Krause Publications NumisMaster.
Link to this coin

1894 S$1 MS obverse 1894 S$1 MS reverse


  
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VarietyPlus®

There are no varieties for this coin.

Description & Analysis

The Morgan dollar's creation in the Bland-Allison Act of 1878 was the result of silver-subsidy politics, and the same politics brought about the denomination's eventual demise. The Act of July 14, 1890, better known as the Sherman Silver Purchase Act, updated the original Bland-Allison Act by providing for an even greater level of silver subsidy purchase by the U.S. Treasury, and further specified the issuance of Treasury notes. One sentence in Section 2 of the Sherman Silver Purchase Act nearly collapsed the U.S. government's financial position in 1893:

{blockquote}'That upon demand of the holder of any of the Treasury notes herein provided for the Secretary of the Treasury shall, under such regulations as he may prescribe, redeem such notes in gold or silver coin, at his discretion, it being the established policy of the United States to maintain the two metals on a parity with each other upon the present legal ratio, or such a ratio as may be provided by law.'{/blockquote}

Note holders, disagreeing with the government's ratio, virtually drained the nation of its gold reserves in conjunction with the Panic of 1893, and among other government action, the silver purchase and coining provisions of the Sherman Act were repealed. Without that legal support, strikings of silver dollars plummeted, down to just 110,000 business strikes for the 1894 Philadelphia issue. That date, while desirable, is not properly termed a condition rarity until the MS65 level, once there, though, it is among the most coveted coins in the entire Morgan dollar series.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


GRADE SUMMARY

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Price Guide

Last Updated: 9/11/2014

Click on a price to see historical prices, comparison charts and trends.

1894 S$1 MS
  GVGFVF4045505355586061626364656667686970
Base $ 875 1150 1200 1325 1450 1450 1775 1950 2050 2650 3600 3950 4375 5500 10500 42500 70000 125000 - - -
$ 1600 1900 2100 2250 3200 3900 4400 4900 6650 21000 54000 90000 - -
1894 S$1 MS Prooflike
  GVGFVF4045505355586061626364656667686970
Base $ - - - - - - - - - 3750 - - - - - - - - - - -
$ - - - - 4400 - - - - - - - - -
1894 S$1 MS Deep Prooflike
  GVGFVF4045505355586061626364656667686970
Base $ - - - - - - - - - - - - 25000 32500 87500 - - - - - -
$ - - - - - - - 30000 40000 107500 - - - -
NGC Price and Value Guides Disclaimer

Census

 
NGC GRADE SUMMARY

Total Graded: 3359
Low Grade: PrAg
Average Grade: 53
High Grade: 65


Upcoming Auctions

A random selection of NGC coins is shown below.

Images
Date
Grade
Auction House
Sale / Lot
11/10/2014 XF 40   Heritage Auctions 2014 November 6 - 10 US Coins Signature Auction - Beverly Hills Session(3), 1211/Lot# 4700
11/10/2014 VF Details  Heritage Auctions 2014 November 6 - 10 US Coins Signature Auction - Beverly Hills Session(6), 1211/Lot# 8471
11/10/2014 MS 62   Heritage Auctions 2014 November 6 - 10 US Coins Signature Auction - Beverly Hills Session(3), 1211/Lot# 4706
11/10/2014 F Details  Heritage Auctions 2014 November 6 - 10 US Coins Signature Auction - Beverly Hills Session(6), 1211/Lot# 8470
11/10/2014 AU 53   Heritage Auctions 2014 November 6 - 10 US Coins Signature Auction - Beverly Hills Session(3), 1211/Lot# 4702
11/10/2014 AU Details  Heritage Auctions 2014 November 6 - 10 US Coins Signature Auction - Beverly Hills Session(3), 1211/Lot# 4701


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
2/20/2005 PCGS XF 45   Goldberg February 20-23, 2005 Pre-Long Beach Coin Auction, 28/Lot# 2012 $1,897.50
5/6/2013 NGC VF 35   Teletrade Auction 3429, 3429/Lot# 2248 $900.00
6/5/2013 NGC AU 55   Heritage Auctions 2013 June 5 - 9 US Coin Signature Auction - Long Beach Session(4), 1186/Lot# 5115 $1,410.00
9/22/2013 PCGS G 6   David Lawrence Rare Coins Internet Auction # 770, 779/Lot# 911 $850.00
7/6/2014 NGC Details UNC Details  GreatCollections GreatCollections Coin Auctions 07/06/2014, 188/Lot# 193041 $2,275.00
8/1/2014 NGC AU 55   Stack's Bowers iAuction 3493, 6044/Lot# 20267 $1,556.88
9/4/2014 NGC MS 63   Heritage Auctions 2014 September 4 - 6 Long Beach Expo US Coins Signature Auction - Long Beach Session(1), 1209/Lot# 3288 $6,462.50


NGC Registry

NGC Registry Score 1894 S$1 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base145015371762188619362102219722812388248328393264348236284073514595751119712178131121474020486
147916121803190219912133222523162419260129803336353037764430662110115115241248913654166550
00000022252316241926012980333635303776443066211011511524124891365400
00000022532352245127203122340935793924478780981065611851128001419700
1894 S$1 MS Prooflike
 PrAgGVGFVF4045505355586061626364656667686970
Base1531162218571985203822102308239625062604347037003942378842495354990412178139141953760429107363
156117001899200220952242233724322538289235463780394239414617687010662127561578833167760730
00000023372432253828923546378039423941461768701066212756157883316700
00000023662469257131813623386139424095498583871142013335176624679800
1894 S$1 MS Deep Prooflike
 PrAgGVGFVF4045505355586061626364656667686970
Base164717421989212421792360246425552671277431603620385674318591110161225413914195372669082580134561
1678182420342142223923942494259327052902331336985047781793991142812807157882192145320999070
000000249425932705290233133698504778179399114281280715788219214532000
0000002524263227393031346637776239820410207118411336017662243056395000
Registry Image Gallery
Grade: MS 63
Points: 4073
Owner: Davis Creek Trust
 
Grade: MS 63
Points: 4073
Owner: GauchoDave
 
View the Registry Image Gallery

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