Micro mintmarks are valuable and relatively easy to identify if you know how to compare them with their regular counterparts. In this post we will describe two desired ones in the Morgan Dollar series along with counterfeits that hobbyists may not immediately detect.
1899-O Micro O
The 1899-O Micro O’s mintmark is noticeably smaller than regular size mintmarks normally seen on Morgan dollars. Its size would fit well on a Quarter Dollar. Here is a comparison from PCGS CoinFacts:
The normal mintmark is oval shaped and the micro, circle shaped. The micro mintmark is closer to the ribbon of the laurel wreath and farther from the “D” and “O” of “Dollar.” The 1899-O Micro O is not rare, as thousands were released into circulation; however, because of the popularity of the Morgan series, is coveted and also included in registry sets.
If you are interested in VAM designations, which many collectors are, you can find this micro mintmark under several varieties, with popular ones being 4,5,6 and 31. (VAM stands for Van Allen-Mallis, the surnames of the two numismatists, who cataloged die varieties of Morgan and Peace silver dollars.)
Values of the 1899-O Micro O are in the thousands for mint state examples. Almost uncirculated examples retail in the high hundreds. But worn examples, which often are found in auctions and estate sales, sell for a few hundred dollars or less, depending on condition.
1903-S Micro S
The 1903-S Micro S Silver Dollar also has a noticeably tiny mintmark, again, what might be used on a Quarter Dollar. Speculation is the engraver at the Mint used the wrong punch and didn’t realize the error.
Again, the variety is easy to identify as the mintmark (similar font) is roughly about half size of a normal mintmark.
As with the 1899-O Micro O, this variety is relatively plentiful with hundreds slabbed by top third-party grading companies. The VAM 2 variety is especially desired.
Values, even in worn condition, are much higher than the 1899-O Micro O. The 1899-O had a mintage of 12,290,000; the 1903-S, 1,241,000. As such, even at G4, the retail for the 1903-S variety is about $100. Values rise substantially thereafter reaching a $1,000 at VF35 and soaring into tens of thousands in AU58 and higher.
Counterfeit Micro Mintmarks
Micro mintmarks 1896-O, 1900-O and 1902-O are not modern but counterfeited during the time that Morgan dollars were still being minted, making them difficult to detect for the novice collector.
PCGS has a brilliant article about these, which you can access by clicking here. Here is an illustration from that article, compliments PCGS:
PCGS notes that these contain identical linear marks, or lumps, created during the transfer process. A genuine coin would be used to create a working die, leaving lumps and other telltale signs.
Perhaps the most famous counterfeit micro O is the 1901-O Micro O, which many hobbyists actually collect. Like the 1896-O, 1900-O, and 1902-O varieties, these are high-quality fakes. PCGS states, “These fakes are notable for their deceptive similarity to genuine coins, being made of good silver and exhibiting sharp details, especially in higher-grade examples.”
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