While plentiful in the lower circulated grades, the 1904-S is a considerable scarcity even in the better circulated grades of XF and AU. In the uncirculated grades, small supplies are known in the MS60-64 range. However, in the Gem levels of MS65 or higher this issue is for all intents and purposes a rarity. PLs are extremely scarce and DMPLs are exceedingly rare. The Morgan dollars of 1904 marked the last year of production for this series until 1921.