How Many Mint State Coins Exist?
How many Mint State trade dollars exist today? The answer will never be known with finality. However, by extrapolating the numbers of coins found in auction catalogues (particularly those from 1986 to date; an era of more consistent grading interpretations) and certification service reports, plus entering a measure of opinion, observation of dealers’ inventories, and experience, I have derived the figures given below.
These numbers do not take into consideration any hoards that may be uncovered in the future in the Orient or elsewhere. However, allowance is made for coins presently in foreign collections. I believe that the higher the grade, the closer these estimates are to reality (reality being unknown, as noted).
Most Mint State trade dollars exist in lower levels such as MS-60 through 62. There are exceptions, with 1878-CC being an example; most Mint State 1878-CC coins are in medium to higher Mint State ranges, and there is no particular concentration at the MS-60 to 62 level.
It is relevant to mention that in John M. Willem’s personal reference collection (auctioned by Henry Christensen, Inc., in 1980), the best 1873-CC and the best 1876-CC were AU, but the 1878-CC was Uncirculated.
Buyers seeking to find Mint State trade dollars will be confronted with an unusual situation: relatively few dealers specialize in them, and to many the denomination is virtually unknown and unstudied. This translates into important opportunities for alert buyers, for certain rarities are lower priced than they would otherwise be.
The results of the study are given below:
1873
Approximate population MS-66 or better: 4 to 6
MS-65 or better: 10 to 15
MS-64: 40 to 60
MS-63: 40 to 80
MS-60 to 62: 100 to 200
1873-CC
MS-66 or better: 0 or 1
MS-65 or better: 1 known
MS-64: 3 to 5
MS-63: 10 to 20
MS-60 to 62: 40 to 80
1873-S
MS-66 or better: 1or 2
MS-65 or better: 4 to 8
MS-64: 25 to 50
MS-63: 30 to 50
MS-60 to 62: 75 to 150
1874
MS-66 or better: 1 or 2
MS-65 or better: 6 to 10
MS-64: 40 to 60
MS-63: 40 to 80
MS-60 to 62: 100 to 200
1874-CC
MS-66 or better: 1 or 2
MS-65 or better: 4 to 8
MS-64: 15 to 30
MS-63: 60 to 100
MS-60 to 62: 150 to 250
1874-S
MS-66 or better: 0 or 1
MS-65 or better: 3 or 4
MS-64: 20 to 40
MS-63: 50 to 100
MS-60 to 62: 400 to 800+
1875
MS-66 or better: 4 to 6
MS-65 or better: 10 to 20
MS-64: 25 to 50
MS-63: 30 to 50
MS-60 to 62: 50 to 100
1875-CC
MS-66 or better: 1 or 2
MS-65 or better: 4 to 8
MS-64: 15 to 30
MS-63: 75 to 125
MS-60 to 62: 200 to 400
1875-S
MS-66 or better: 10 to 15+
MS-65 or better: 75 to 150+
MS-64: 200 to 400+
MS-63: 500 to 1,000+
MS-60 to 62: 1,500 to 3,000+
1875-S/CC
MS-66 or better: 0 or 1
MS-65 or better: 2 or 3
MS-64: 4 to 7
MS-63: 10 to 20
MS-60 to 62: 40 to 80
1876
MS-66 or better: 8 to 10+
MS-65 or better: 40 to 60
MS-64: 150 to 300
MS-63: 200 to 400
MS-60 to 62: 700 to 1,200
1876-CC
MS-66 or better: 0 or 1
MS-65 or better: 1 known
MS-64: 3 to 5
MS-63: 10 to 20
MS-60 to 62: 40 to 80
1876-S
MS-66 or better: 1 or 2
MS-65 or better: 30 to 40+
MS-64: 100 to 200+
MS-63: 175 to 300+
MS-60 to 62: 900 to 1,800+
1877
MS-66 or better: 1 or 2
MS-65 or better: 4 to 8
MS-64: 60 to 120+
MS-63: 125 to 200+
MS-60 to 62: 450 to 900+
1877-CC
MS-66 or better: 1 or 2
MS-65 or better: 2 or 3
MS-64: 8 to 12
MS-63: 20 to 30
MS-60 to 62: 50 to 100
1877-S
MS-66 or better: 10 to 15+
MS-65 or better: 50 to 100+
MS-64: 170 to 325+
MS-63: 300 to 600+
MS-60 to 62: 1,750 to 3,500+
1878-CC
MS-66 or better: 1 or 2
MS-65 or better: 3 or 4
MS-64: 8 to 12
MS-63: 15 to 25
MS-60 to 62: 30 to 60
1878-S
MS-66 or better: 20 to 30+
MS-65 or better: 70 to 140+
MS-64: 175 to 350+
MS-63: 200 to 400+
MS-60 to 62: 1,000 to 2,000+