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The Collectors' Auction 2010
< Previous  Lot 711  Next >
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Please Note: A 15% Buyers' Premium is added to the hammer price of all lots in this sale.

(About The Images)
1897-O NGC MS-62. 1897-O NGC MS-62.
Lot Title: 1897-O NGC MS-62.
Description: 1897-O is one of those infamous condition rarities in the Morgan dollar series -- common as syrup on pancakes in low grades, but one of THE keys in the highest uncirculated grades. For many such coins, there is a "sweet spot" for collectors, where some particular grade occurs just before a quantum leap in value, and the present MS-62 is a contender as the ideal grade for 1897-O. At MS-60, the value is probably in the middle hundreds-of-dollars, while in MS-63, the value is in the middle-thousands.

NGC took a conservative approach in this case, meaning most collectors will be surprised to find surfaces this nice, and a cheek this clean for MS-62. In addition, details are unusually sharp for a New Orleans dollar, with the eagle's breast feathers displaying only a hint of softness. The most likely factor in the conservative grade is the luster, which blooms quite softly, yet still spreads widely throughout the fields. Further, overall brilliance is mildly attenuated by a thin veneer of almond-grey tone, delicately enhanced at the margins by a touch of honey-grey color.

Low Estimate: $1,100.00
High Estimate: $1,400.00
Lot Status: Bidding has been closed for this lot.
Hammered Price: $1,050.00
Price Realized: $1,207.50
1897-O NGC MS-62.
1897-O NGC MS-62.

Price history for items of the same classification:
Lot #AuctionCurrent Bid or Hammer PriceDescription
947The Collectors' Auction 2013 on 10/18/2013$1,550.00
1897-O NGC MS-62.
Choice examples cost significantly more than basic mint-state pieces, and the surfaces actually show just the bare minimum acceptable for MS-62. Typical New Orleans softness visits the center of each...
814The Collectors' Auction 2012 on 10/05/2012$280.00
1897-O PCGS AU-58.
BU examples cost a fortune by comparison to the very affordable AU grade, this slider barely missing out on a mint-state assessment Virtually full luster roams the fields, barely attenuated by a...
815The Collectors' Auction 2012 on 10/05/2012$925.00
1897-O NGC MS-61.
The story is the same for so many Morgan dollars: common in low grade, terribly expensive in high grade. 1897-O follows that theme, with the date inexpensive right up to the upper AU range. MS-63...
737The Midwest Summer Sale 2012 on 07/27/2012$850.00
1897-O NGC MS-61.
A classic grade-sensitive issue in the Morgan dollar series, 1897-O is dirt common in lower grades, a trifle better through AU, sticker-shock worthy in low UNC, and ridiculously unaffordable in MS-63...
838The Midwest Summer Sale 2010 on 07/23/2010$1,750.00
1897-O PCGS MS-62.
This will easily seem to be an undergraded coin upon examination, as the smooth glowing luster and clean fields are reminiscent of coins grading two points higher. At stake here is a Morgan dollar...
652The Collectors' Auction 2009 on 10/16/2009$1,500.00
1897-O NGC MS-62.
Mintage of 4 million pieces for a Morgan dollar would typically lead to "common" status, but in the case of 1897-O, this is true only to the extent of pieces that have circulated. In MS-60, it...
858The Collectors' Auction 2007 on 10/19/2007$1,350.00
Roll of 1897-O. Mixed Grades.
The 1897-O Morgan dollar is a common piece in grades up through VF-35 or so, and indeed, many are encountered in bulk rolls of bullion coins destined for the smelter’s furnace. However, perusal of a...

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