This coin was once known as one of the great rarities of the Morgan dollar series, but it became a relatively common coin following the discovery and release of many 1898-O bags in Treasury vaults during the early 1960s. Now widely available in grades up to MS66, the 1898-O Morgan dollar is no more a rare coin than the 1903-O or 1904-O, two other Morgans once thought to be great rarities. PLs are more common than DMPLs, though neither is really rare, at least not until above the MS65 level.