1903-S Morgan Silver Dollar. MS-65 (PCGS).，Delicate champagne-gold peripheral toning frames the otherwise brilliant surfaces of this lovely Gem Morgan dollar. Sharply struck with a smooth satin texture, this coin is sure to find its way into an advanced collection of "Americas Favorite Silver Dollar."<p>The 1903-S is one of the rarest Morgan silver dollars in Mint State. A mintage of 1,241,000 pieces is partly to blame for this, but the real culprit is the distribution, or rather lack thereof, of this issue. With well worn survivors in grades such as Good and VG relatively obtainable, it seems likely that a fair number of 1903-S dollars entered circulation shortly after striking. Later releases of Mint State coins were few and far between, which suggests that rather than remaining in government storage for many years, much of the mintage succumbed to melting pursuant to the 1918 Pittman Act. The present Gem not only survived, but now ranks among the finer certified examples. A significant find and rare bidding opportunity for the quality-conscious Morgan dollar collector.<p>，From the A.J. Vanderbilt Collection. Acquired from Gus Tiso, October 2008.，
