This scarce but popular variety was created when an O mintmark was punched over an S, perhaps due to a shipping error from the Philadelphia Mint, where the dies were originally prepared and sent to their destination mints. There is also a similar O/S repunched mintmark for this date, with the mintmarks exhibiting more weakly. This piece is tougher than most Morgan in all grades, including circulated levels. Many are available in the lower MS levels but due to great competition among series enthusiasts for this piece, premiums are more often the rule than exception. Gems are extremely rare, and PLs and DMPLs are virtually non-existent.