1897 Morgan Dollar
Guidelines for Collecting:
1897 Morgan dollars were considered rare up through the early decades of the 20th century. Very few examples of the date were released into circulation at the time they were minted. However, bags of 1897 dollars were released in large quantities decades later and by the 1950s Uncirculated coins were very common in Eastern banks. The Treasury released hundreds more bags of the date from 1962 to 1964. Eventually they were second in terms of availability only to the common 1896, for Morgan dollars of the 1878 to 1904 years. In Mint State the 1897 is usually well struck with frosty luster.
Availability in Circulated Grades:
Always available but the proliferation of low-priced Mint State coins allows collectors to avoid such grades as EF and AU.
Availability in Mint State Grades:
If you are looking for a well-struck and lustrous example of the date chances are good you will have little difficulty finding such a coin. Steer clear of bagmarked coins, especially in the lower Uncirculated grades. Gems present no major difficulty and are not overly expensive.
Availability in Proof:
Proofs of the date were delivered in quarterly batches beginning in March of the year. Like their 1896 counterparts, Proofs are generally boldly struck and deliver lively cameo contrast. There are exceptions to every rule so choose carefully.
The example to the left was sold by Stack's Bowers Galleries in the June 2023 Showcase Auction, where it realized $840.
1897 Morgan Dollar Auction Highlights
 NGC PF-68 CAM Sold for $28,800 View Lot 4077 |  PCGS PR-67 CAM Sold for $18,000 View Lot 4142 |  PCGS PR-67 Sold for $12,925 View Lot 11541 |
