The 1901 Morgan dollar is a special coin in the world of numismatics, especially known for its unique features and high value among collectors. One of the standout varieties is the “Doubled Die Reverse” Morgan dollar, which has its own listing in the popular coin guide known as the “Red Book.” In this article, we will explore the details of the 1901 Morgan dollar, its unique characteristics, and why it holds such a significant place in coin collecting.
| Feature | Description |
|---|---|
| Year Minted | 1901 |
| Designer | George T. Morgan |
| Coin Type | Silver Dollar |
| Obverse Design | Profile of Lady Liberty |
| Reverse Design | Eagle with olive branch and arrows |
| Key Variety | Doubled Die Reverse |
| Notable Features | Doubling on eagle’s tail feathers and arrows |
| Mint State Condition | MS-60 is the lowest grade at PCGS, with some graded higher |
| Auction Price | Sold for $28,800 in March 2023 |
| Rarity | Considered a prize; limited number survive |
| Grading Service | Professional Coin Grading Service (PCGS) |
| Collectibility | Highly sought after by collectors |
What is the 1901 Morgan Dollar?
The 1901 Morgan dollar is part of a series of silver coins that were minted from 1878 to 1904 and again in 1921. Designed by George T. Morgan, these coins are famous for their depiction of Lady Liberty on the front and an eagle on the back. The 1901 edition stands out because of its rarity and unique varieties, making it a favorite among collectors.
Key Features of the 1901 Morgan Dollar
Doubled Die Reverse
One of the most important features of the 1901 Morgan dollar is the “Doubled Die Reverse.” This means that certain details on the reverse side of the coin, particularly the eagle’s tail feathers and lower wing feathers, appear doubled. This kind of error happens during the minting process, and it adds to the coin’s uniqueness. Collectors highly value this variety, and it is listed separately in the “Red Book.”
Unique Characteristics
The 1901 Morgan dollar also includes doubling on other elements, such as the arrows and the olive branch that the eagle holds. This makes the coin particularly interesting for those who study coin varieties and errors.
Rarity and Collectability
Mint State Morgan Dollars
Any Morgan dollar from the 1901 year is considered a prize, especially those in Mint State condition. A Mint State (MS) coin is one that has never been used in circulation and is in excellent condition. The Uncirculated 1901 VAM-3 “Shifted Eagle” Morgan dollar is especially sought after.
Auction Highlights
Recently, at Stack’s Bowers auction on March 26, an MS-60 1901 VAM-3 dollar graded by Professional Coin Grading Service (PCGS) was sold for $28,800. This particular coin was the only one graded at this level by PCGS, while six others were graded slightly higher. The auction catalog described it as having “lustrous satin to softly frosted surfaces” and a captivating silver-white appearance, which is highly desired by Morgan dollar enthusiasts.
Conclusion
The 1901 Morgan dollar, particularly the Doubled Die Reverse variety, is a treasure for coin collectors. Its unique features, rarity, and the history behind it make it a valuable addition to any collection. As more collectors become interested in this coin, its significance in the numismatic world continues to grow. For anyone interested in coin collecting, learning about the 1901 Morgan dollar offers insight into the fascinating stories behind these pieces of history.
FAQs
Q1: What is a Morgan dollar?
A: A Morgan dollar is a silver coin minted in the United States from 1878 to 1904 and again in 1921. It features a portrait of Lady Liberty on one side and an eagle on the other.
Q2: Why is the 1901 Morgan dollar special?
A: The 1901 Morgan dollar is special due to its rarity, unique varieties like the Doubled Die Reverse, and high value among collectors. It is one of the more desirable coins in the series.
Q3: What does “Doubled Die Reverse” mean?
A: “Doubled Die Reverse” refers to a minting error where certain details on the reverse side of the coin appear doubled. In the 1901 Morgan dollar, this can be seen in the eagle’s tail feathers and arrows.
Q4: How much is a 1901 Morgan dollar worth?
A: The value of a 1901 Morgan dollar can vary widely based on its condition and grading. For example, an MS-60 graded coin recently sold for $28,800, while lower grades may sell for much less.
Q5: What does PCGS stand for?
A: PCGS stands for Professional Coin Grading Service, a reputable organization that grades coins based on their condition and quality.