This 1882-S issue is one of the 1878-1882 five first San Francisco Mint Morgans considered the most beautifully struck in the 95-issue series. While the 1878-S issue is the scarcest overall, fewer mint-state 1882-S specimens are estimated to survive. It was the last of the great early San Francisco Mint Morgans, whose minting excellence was never again equaled in the series. At the time the San Francisco facility boasted the newest equipment of any U.S. mint. The “S”mintmarkappears below the eagle and wreath on the reverse side.