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CoinsMorgan DollarsReferences

Sources & evidence

Every important figure in the Morgan reference traces to one of the sources below, each carrying its evidence classification. This is the complete ledger — how our numbers are made is documented in the site-wide methodology.

S1OBSERVEDUS Mint Specifications

United States Mint

United States Mint specifications (composition, weight, diameter, edge)

S2OBSERVEDMintage Records

US Mint records · PCGS CoinFacts

Mintages: United States Mint records as compiled in standard references (Yeoman, A Guide Book of United States Coins tradition); cross-checked against PCGS CoinFacts (retrieved 2026-08-22)

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S3OBSERVEDThe Pittman Act & the Great Melt

40 Stat. 535 · Newman Numismatic Portal

Pittman Act, ch. 63, 40 Stat. 535 (Apr. 1918): up to 350,000,000 dollars authorized; 270,232,722 melted (11,111,168 of them recoined as subsidiary coinage) per Treasury records — see Newman Numismatic Portal, 'Silver Dollars Struck Under the Pittman Act' (retrieved 2026-08-22)

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S4OBSERVEDTreasury Releases & GSA Sales

Bowers, Silver Dollars encyclopedia (PCGS)

Treasury releases (1962–64) and GSA Carson City sales (2.8M+ dollars; seven sales 1972–1980; ~$107M): Q. David Bowers, Silver Dollars & Trade Dollars of the United States — A Complete Encyclopedia, ch. 14 (PCGS edition)

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S5OBSERVEDThe Redfield Hoard

Bowers · CoinWeek

Redfield Hoard (~407,000 coins; A-Mark, $7.3M, 1976): Bowers encyclopedia ch. 14; CoinWeek hoard histories

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S6OBSERVEDThe Continental-Illinois Hoard

Bowers, Silver Dollars encyclopedia (PCGS)

Continental-Illinois Bank hoard (~1.5M dollars, early 1980s): Bowers encyclopedia, ch. 14

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S7OBSERVEDDesign History

CoinSite · Coin Community · Smithsonian NNC

Design history (Morgan's 1876 arrival; Williams sittings; M initials at neck truncation and ribbon loop; 8TF→7TF re-hubbing; 1910 die destruction): standard numismatic histories (CoinSite; Coin Community), corroborated by Smithsonian NNC object records

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S8ESTIMATED1893-S Survival Estimates

PCGS CoinFacts

1893-S survival estimates (~9,948 all grades; ~123 mint state; ~18 MS65+; Bowers range 6,000–12,000): PCGS CoinFacts, 1893-S entry (retrieved 2026-08-22)

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S9DERIVEDOunceDesk Rarity Classifications

OunceDesk editorial methodology

Rarity classifications: OunceDesk editorial methodology (defined on this page), in the Red Book/Bowers tradition

S10OBSERVEDPL / DMPL Standards

PCGS · NGC published standards

PL/DMPL reflectivity conventions: grading-service published standards (PCGS/NGC)

S11ESTIMATED1892-S Survival Estimates

PCGS CoinFacts

1892-S survival. Two estimators, both read on the PCGS CoinFacts 1892-S entry: Q. David Bowers' encyclopedia population estimates quoted in the page narrative (MS60-62 75–150, MS63 25–50, MS64 10–20, MS65+ 25–50 — 135–270 mint state, bimodal), and PCGS's own survival estimate panel (120,000 all grades, 1,200 MS60 or better, 64 MS65 or better). Bowers figures re-attributed 2026-08-23 — they had previously been cited here as PCGS figures.

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S12ESTIMATEDThe 1903-O Release

PCGS CoinFacts · Coin World · CoinAppraiser

1903-O: pre-release status (<10 MS believed known; $1,500 in the 1962 Guide Book — highest of any Morgan), release of ~200,000–350,000 coins autumn 1962, price fall to ~$7 in 1963; modern MS survival ~200,000+ per Q. David Bowers' population estimates quoted in the CoinFacts narrative (MS60-62 120,000–240,000; MS63 40,000–80,000; MS64 20,000–40,000; MS65+ 10,000–20,000), against PCGS's own survival estimate panel of 445,000 all grades / 90,000 MS60+ / 9,750 MS65+ (retrieved 2026-08-23; the Bowers figures had previously been cited here as PCGS figures): PCGS CoinFacts 1903-O; Coin World, 'Red Book 70th anniversary: the 1903-O'; CoinAppraiser price history (retrieved 2026-08-22)

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S13ESTIMATED1885-CC Survival & GSA Disbursement

PCGS CoinFacts · CoinWeek

1885-CC: GSA disbursement of 148,285 coins (Oct 1973–1980); survival ~155,000–168,000 nearly all mint state; ~2,000–4,000 circulated survivors ('the king of worn Morgans'): PCGS CoinFacts 1885-CC; CoinWeek collector's guide (retrieved 2026-08-22)

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S14OBSERVEDPCGS CoinFacts Condition Census

PCGS CoinFacts

Condition-census pedigree chains and realized prices for 1889-CC, 1892-S and 1885-CC (auction house, sale date, lot number and realized price as published by the census): PCGS CoinFacts condition census, per-issue entries (retrieved 2026-08-23)

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S15ESTIMATEDPCGS Survival Estimates by Grade Band

PCGS CoinFacts

Survival estimates by grade band (all grades / MS60+ / MS65+): 1889-CC (25,250 / 4,250 / 7), 1885-CC (174,250 / 155,750 / 18,150), 1892-S (120,000 / 1,200 / 64), 1903-O (445,000 / 90,000 / 9,750), 1893-S (9,948 / 123 / 18) and the 1890-CC Tailbar variety (14,450 / 3,600 / 10): PCGS CoinFacts survival estimates, per-issue entries (retrieved 2026-08-23). PCGS describes these as an average of one or more experts' opinions, not a census.

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S16OBSERVEDVan Allen–Mallis (VAM) Catalog

Van Allen & Mallis

Die-variety attribution framework: Van Allen & Mallis, 'The Comprehensive Catalog and Encyclopedia of Morgan & Peace Dollars' — the VAM catalog that names and numbers Morgan die marriages; the reference the hobby attributes against

S17OBSERVEDVAMworld

VAMworld (community wiki)

Ongoing VAM attribution corpus, die-state documentation and diagnostic photography maintained by the specialist community: VAMworld

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S18OBSERVEDPCGS Recognised Morgan Varieties

PCGS CoinFacts

Varieties recognised with their own PCGS catalog numbers, which is what makes a variety separately certifiable and separately traded (1878 8TF #7072, 1878 7/8TF Strong #7078, 1878 7TF Reverse of 1878 #7074 / Reverse of 1879 #7076, 1879-CC Capped Die #7088, 1880-CC 8/7 Reverse of 1878 #7110, 1882-O/S Strong #7138, 1887/6 #7174, 1888-O Hot Lips #7308, 1890-CC Tailbar #87198, 1900-O/CC #7268, 1901 Doubled Die Reverse #7302): PCGS CoinFacts Morgan dollar catalog (retrieved 2026-08-23)

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S19ESTIMATEDNumista Catalog & Price Context

Numista

Catalog cross-references (N# 1492, KM# 110) and community-derived collector value estimates by grade, refreshed on a licensed 7-day cache: Numista. Numista figures are ESTIMATED context, never realized-sale evidence.

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S20OBSERVED1893-S Market Evidence

PCGS CoinFacts · GreatCollections

1893-S realized prices and pedigree chains: PCGS CoinFacts condition census for 1893-S (Vermeule and Randall-Clapp-Eliasberg chains, Stack's 9/2001:548 $414,000, B&M 4/1997:2294 $198,000, Legend 10/2014:190 $646,250, Sotheby's 5/2018:107 $735,000, B&M 11/1988:3887 $357,500), plus the GreatCollections lot pages for the 2021 Vermeule sale ($2,086,875, stated by GreatCollections) and the August 2026 Clapp-Eliasberg lot (closed, realized price not published publicly). All pages read 2026-08-23.

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How to read the classifications

OBSERVED — directly reported by a primary or authoritative source (statutes, mint records, documented program figures). ESTIMATED — expert estimates with stated methodology, such as grading-service survival figures; we report the range and the estimator. DERIVED — OunceDesk arithmetic or editorial synthesis from observed inputs, labeled as ours. SPECULATIVE — scenario reasoning, always flagged (none currently in the Morgan ledger). Corrections: research@ouncedesk.com — research that can't survive being wrong in public isn't research.

Evidence at a glance

OBSERVED

13 sources

ESTIMATED

6 sources

DERIVED

1 source

Sourced figures on this page trace to the ledger below. Editorial judgement is labelled as ours, and prices we have not sourced are not published.

View all sources & evidence methodology →

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