In 1893, the United States witnessed one of the worst economic depressions in its history, known today as the panic of 1893. The national unemployment rate jumped to 11.7% and nearly 600 banking institutions closed. As a result, silver prices fell significantly and confidence in silver as well as the demand for silver coinage fell too. Production of silver dollars at all U.S. Mints saw a sharp decline from 1892 to 1893.
For example, in 1892, the U.S. Mint struck over 6.3 million Morgan Silver Dollars between the four U.S. Mints. In 1893, the same four U.S. Mints produced only around 1.45 million silver dollars. That's about a 77% decrease in production.
Today, Morgan Silver Dollars struck in 1893, regardless of mint, are considered "key-dates" in the Morgan Silver Dollar series because of their low original mintage and low surviving populations.
In the world of coins, first year issues, last year issues and "key-date" coins are the coins that both investors and collectors actively seek to own. The 1893-CC Morgan Silver Dollar has the distinction of not only being one of the scarcest Morgan Silver Dollars in the series, especially in uncirculated grades, but it is also the last silver dollar struck at the famous Wild West Carson City Mint.
This particular example of this immensely popular Morgan Silver Dollar is certified in near-choice uncirculated MS62 grade by PCGS. Only 1,625 coins of the original 677,000 coins produced have been certified in MS62 grade by both NGC and PCGS.
This coin exhibits great original mint luster and somewhat reflective surfaces that give the coin a near proof-like appearance.
This coin is steeped in history and is one of my favorite silver dollars of all-time and we are extremely honored to offer this last year issue Carson City Morgan Silver Dollar and genuine rarity to our clients.