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<p>[QUOTE=&quot;09S-V.D.B, post: 191499, member: 4379&quot;]In the case of 1900-O and 1904-O Morgans in 63 - the prices don&#039;t justify the cost of submitting to a TPG for grading and ensapsulation. Honestly, the term I would use to describe 1904-O and 1900-O Morgans is dirt common. </p><p><br /></p><p>In the Morgan series, prices are a fairly accurate indicator of rarity. Prices are a reflection of supply and demand. When there is enough supply to meet demand, prices tend to be low. Notice the prices of 1904-O and 1900-O&#039;s are just about the lowest in the series. This is because there is more than enough supply. </p><p><br /></p><p>My definition of a rarity is anything with an existing population under 100. For example, a 1913 Liberty nickel is rare - 5 known. There is huge demand for this coin (Hey, everyone wants to own one, right?), but extremely limited supply. That is why these coins sell for 1 million + when they appear at auction. </p><p><br /></p><p>The Morgan $ is one of the most popular and collected U.S. coins, and there is huge demand. But - the 1900-O is inexpensive, because there is more than enough supply to meet demand. </p><p><br /></p><p>NGC has slabbed 22987 1900-O&#039;s, and PCGS has probably slabbed a similar amount. Right there you have around 35,000, without even taking into consideration hundreds of thousands of raw coins.[/QUOTE]</p><p><br /></p>

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