I am sure this question apllies to other coins as well. I have noticed that sometimes a Morgan with higher mintage is more valuable than one from the same year with a smaller mintage. example 1897 2,822,731 16.00 1897-O 4,004,00 20.00 why is this?
Mintage does not equal survival rate. Nor does it have anything to do with how many are available in certain grades, or how many collectors are interested in buying them.
Certain dates were melted heavily in 1918 and a few other times in the 20th century. Additionally, bags of Morgans were found in bank vaults and released to the public in the early 1960s, which flooded the market with a number of dates that were previously considered rare. Many factors go into gauging the rarity of a Morgan.
