At one time considered one of the most important of rarities in the Morgan dollar series, the 1903-O is now known as one of the more common issues thanks to the release of bag quantities by the US Treasury in the 1960s. Indeed, the 1903-O Morgan dollar is common through at least MS65, it is scarce in MS66, and rare in MS67 or higher grades. PLs and DMPLs are marginally rare, especially in the Gem range, but can be had for a cost.