1893-S Morgan Dollar – Imagine stumbling upon a forgotten cookie tin tucked away in your attic—only to discover a rare silver coin worth over half a million dollars! That’s exactly what happened recently when a pristine 1893-S Morgan Dollar was found, shockingly well-preserved and hidden in plain sight. This unexpected treasure was auctioned for an eye-watering $585,000, sparking excitement across the coin-collecting world. In this article, we’ll explore the history of the 1893-S Morgan Dollar, why it’s so valuable, how it ended up in a cookie tin, and what this means for collectors and everyday people alike. Whether you’re a numismatist or just someone curious about hidden treasures, this story offers a fascinating glimpse into how everyday objects can hold extraordinary secrets.
What Is the 1893-S Morgan Dollar?
The 1893-S Morgan Dollar is one of the rarest and most sought-after coins in American history. It was minted in San Francisco in 1893, during a time of economic depression that saw reduced coin production.
Key Details About the 1893-S Morgan Dollar:
- Mint Location: San Francisco (denoted by the “S” mintmark)
- Mintage: Only 100,000 coins were struck—lowest of all Morgan Dollars
- Design: Features Lady Liberty on the obverse and a bald eagle on the reverse
- Composition: 90% silver, 10% copper
- Weight: Approximately 26.73 grams
- Diameter: 38.1 mm
Because of its low mintage and high silver melt rate during the 1918 Pittman Act, few of these coins survived, making them extremely valuable in top condition.
How Was It Found in a Cookie Tin?
The recently sold coin was part of a deceased relative’s belongings. While cleaning out their estate, a family member discovered an old metal cookie tin filled with various coins. Among the mix of common pieces was a surprisingly lustrous silver coin that turned out to be the 1893-S Morgan Dollar.
What Made This Discovery Special?
- Uncirculated Condition: The coin appeared nearly untouched despite its age.
- Storage Method: Being stored in a cool, dry place protected it from corrosion.
- Immediate Authentication: Experts quickly verified its authenticity and exceptional quality.
Why Did It Sell for $585,000?
The auction price reflects the rarity, demand, and condition of this coin. According to Professional Coin Grading Service (PCGS), only a few dozen examples of the 1893-S Morgan Dollar exist in mint or near-mint condition.
Factors That Contributed to the High Value:
- Rarity: With fewer than 100,000 minted, very few exist today.
- Condition: Graded MS-65 (Mint State), making it a gem among collectors.
- Historical Significance: Symbol of the economic panic of 1893.
- Collector Demand: Morgan Dollars are a favorite among American collectors.
- Market Trends: Rare coins have seen price surges in recent years.
Tips for Identifying Valuable Coins in Your Home
This surprising discovery has inspired many to check their own coin stashes. Here’s how you can determine if a coin in your collection might be valuable:
Things to Look Out For:
- Mint Marks: Coins from San Francisco (S), Carson City (CC), or New Orleans (O) can be rare.
- Low Mintage Years: Research how many were produced—lower is often more valuable.
- Condition: Coins with little wear or in mint condition are worth more.
- Silver Content: Pre-1965 U.S. coins usually have 90% silver.
- Error Coins: Coins with misprints or minting errors can be highly collectible.
Tools You Can Use:
- Magnifying glass or loupe
- Coin appraisal books
- Online price guides (like PCGS, NGC)
- Local coin dealers or auction houses
Should You Get Your Coins Appraised?
Absolutely. Even if you’re unsure of a coin’s worth, getting a professional appraisal is a smart move. Coins that appear ordinary could turn out to be highly valuable due to small minting details, rare dates, or high silver content.
Where to Get an Appraisal:
- Local coin shops
- Certified numismatists
- Reputable auction houses
- PCGS or NGC for grading and certification
Other Examples of Hidden Coin Treasures
This isn’t the first time a hidden coin shocked collectors and the public. Here are a few other famous finds:
| Year | Coin Type | Found In | Sale Price |
|---|---|---|---|
| 2021 | 1943 Bronze Lincoln Cent | Inside a desk drawer | $204,000 |
| 2018 | 1794 Flowing Hair Dollar | Behind a picture frame | $1.7 million |
| 2015 | 1907 Saint-Gaudens | Old family photo album | $645,000 |
| 2012 | 1913 Liberty Head Nickel | Garage sale box | $3.1 million |
| 2009 | 1894-S Barber Dime | Grandma’s sewing basket | $1.9 million |
| 2005 | 1916-D Mercury Dime | Taped inside a book cover | $185,000 |
| 2003 | 1804 Silver Dollar | Under floorboards | $4.1 million |
These examples show how coins can become hidden time capsules of value—sometimes overlooked for decades.
The story of the 1893-S Morgan Dollar found in a cookie tin is more than just an auction headline—it’s a reminder that treasures can be hiding in plain sight. Whether passed down through generations or accidentally collected in spare change, coins can carry immense historical and monetary value. If you have old coins lying around, especially those inherited from older relatives, now might be the perfect time to dust them off, research their history, and consider getting them appraised. Who knows? You might be holding the next six-figure treasure.
FAQs
1. What makes the 1893-S Morgan Dollar so rare?
It has the lowest mintage of any Morgan Dollar—only 100,000 were made, and very few survived.
2. How do I know if my coin is valuable?
Look for rare dates, mintmarks, condition, and silver content. A professional appraisal is the best way to know for sure.
3. Where can I get a coin appraised?
Visit local coin dealers, auction houses, or use services like PCGS or NGC for grading.
4. Can coins stored in tins or boxes still be valuable?
Yes, if stored properly in cool, dry conditions, even tin-stored coins can remain in excellent shape.
5. What should I do if I find an old coin?
Do not clean it! Store it safely and take it to an expert for authentication and valuation.
