1902 S$1

Description

1902 Morgan Dollar, Philadelphia Mint, MS-67 PCGS. This exceptional 1902-P Morgan dollar represents a premium example from the Philadelphia Mint's first year of silver dollar production under the new C-4 reverse hub. Graded MS-67 by PCGS (Certificate #58332212), this coin ranks among the finest survivors of the date, with only 10 examples graded higher across the entire population of 104 certified pieces. The coin exhibits the characteristic satiny luster typical of 1902 dollars, with well-scattered bagmarks consistent with Treasury release coins from the GSA Hoard dispersals of the late 1950s. The 1902 Philadelphia dollar marked a significant numismatic milestone as the inaugural issue employing the C-4 reverse design across all dies. Notable varieties exist from reverse dies created by impressing the new C-4 hub over the old C-3, distinguished by the distinctive "2 Olive Reverse" feature—a result of die-over-hub experimentation that occurred during this transition period. While the base circulation strike mintage reached nearly 8 million pieces, MS-65 and finer examples remain quite scarce, with estimated populations of only 5,000 to 10,000 coins across all Mint State grades above MS-65. Composed of 90% silver and 10% copper, this coin weighs 26.73 grams and displays the reeded edge standard to the Morgan dollar series. The striking quality ranges from average to sharp, and this example demonstrates the quality control standards of the newly constructed Philadelphia Mint facility, which had only recently transferred operations in October 1901. With a current price guide value of $5,250, this MS-67 represents a significant opportunity to acquire a high-grade example of this historically important early 20th-century issue.