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<p>[QUOTE=&quot;World Colonial, post: 2404738, member: 78153&quot;]The last time I checked, the combined population reports recorded about 470,000 1881-S Morgan dollars in all grades.&nbsp; Even assuming every last one has been graded (which I do not believe) and if every one has been submitted twice which is almost certainly an exaggeration, this is at least one for every 10 US collectors if the active base is about two million (a guestimate of mine).&nbsp; As popular as Morgan dollars are, I don&#039;t believe 10% of the US collector base owns a graded 1881-S.&nbsp; This leads me to conclude that a substantial minority if not majority are owned by &quot;investors&quot;, possibly by the hundreds or even thousands in some instances by one individual.[/QUOTE]</p><p><br /></p>

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