Counterfeit Detection: 1895-O Morgan Dollar

The coins issued in 2021 to commemorate the 100th anniversary of the last Morgan dollars have reignited interest in the beloved silver series. Additional attention has driven prices higher, and that creates an incentive for counterfeiters.

One of the Morgan key dates is the 1895-O, a conditional rarity. While these coins are relatively plentiful in lower grades, price guides indicate that the seldom-seen mint-state examples are easily worth five to six figures. Numismatic Guaranty Company (NGC) recently received a submission of a purported 1895-O that has several red flags.

A genuine 1895-O Morgan Dollar (top) and its spurious counterpart (bottom). Click images to enlarge.

For starters, the digits in the date do not match those of a genuine coin. The fields contain numerous horizontal striations, which indicate the dies used are not 19th-century United States Mint products.

In addition, many of the devices have rather bizarre pimpling. Look closely at the N and E in ONE DOLLAR on the reverse. These defects were likely caused by the machine used in the die-creation process. A sizable lump appears above Liberty’s forehead, under the first U in PLURIBUS, that a more careful counterfeiter would have tried to remove.

In addition to the wrong font on the date and striations in the field, two letters on the reverse have peculiar bubbling. Click images to enlarge.

This spurious coin weighs only 25.87g, nearly a gram less than expected. The metallurgical analysis shows that it is 58-percent copper, 37-percent zinc, 4-percent nickel and just 1-percent silver.

Perhaps to distract from its flaws, the counterfeiter also artificially toned and aged the coin. Collectors are well-advised to look past any toning when judging authenticity. Remember, whether it is a key-date Morgan dollar or a more common coin, NGC backs its determinations of authenticity with the NGC Guarantee.

Reproduced with permission from the December 2021 edition of The Numismatist, an official publication of the American Numismatic Association.

Did you know? NGC has created a comprehensive Counterfeit Detection resource to help collectors and dealers identify counterfeit and altered coins. Visit NGCcoin.com/counterfeit.