Heritage World Coin Auctions
CSNS Signature US Coin Sale 1254 26-28 Apr 2017
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Morgan Dollars
1895-O $1 MS60 PCGS. The defining year for Morgan dollar collectors may be 1893, when the country faced financial panic and the government responded by repealing the Sherman Silver Purchase Act. Silver dollar mintages plummeted from that point on, culminating with the low point of the crisis in 1895, when J.P. Morgan's bailout loan to the government stunned the public, and only proofs trickled out the Philadelphia Mint. Nor did any great quantity of silver dollars flow from the branch mints, there was simply no need.
A scant 450,000 dollars were struck in New Orleans, and even less (400,000 pieces) in San Francisco, posing a formidable challenge for today's collectors. Of the three issues, the 1895-O is by far the scarcest in Mint State, with the number of grading events at just over 300 coins in all Uncirculated grades by PCGS and NGC combined, compared with a combined total of more than 2,100 coins in Mint State for the 1895-S. 1895 proofs in the same grade categories outnumber the 1895-O business strikes by more than 2 to 1. Which issue is really the King of Morgan dollars, at least for the year 1895?
Many might say the 1895-O. This exceptional Uncirculated example has a Mint-fresh look and remarkably few marks for the assigned grade. Slightly soft over the ear, the strike still exceeds the typical 1895-O by far. It is housed in an old blue label holder with the barcode on the back. Population: 21 in 60, 131 finer (3/17).
From The Siegel Collection.
HID02901242017
1895-O $1 MS60 PCGS. The defining year for Morgan dollar collectors may be 1893, when the country faced financial panic and the government responded by repealing the Sherman Silver Purchase Act. Silver dollar mintages plummeted from that point on, culminating with the low point of the crisis in 1895, when J.P. Morgan's bailout loan to the government stunned the public, and only proofs trickled out the Philadelphia Mint. Nor did any great quantity of silver dollars flow from the branch mints, there was simply no need.
A scant 450,000 dollars were struck in New Orleans, and even less (400,000 pieces) in San Francisco, posing a formidable challenge for today's collectors. Of the three issues, the 1895-O is by far the scarcest in Mint State, with the number of grading events at just over 300 coins in all Uncirculated grades by PCGS and NGC combined, compared with a combined total of more than 2,100 coins in Mint State for the 1895-S. 1895 proofs in the same grade categories outnumber the 1895-O business strikes by more than 2 to 1. Which issue is really the King of Morgan dollars, at least for the year 1895?
Many might say the 1895-O. This exceptional Uncirculated example has a Mint-fresh look and remarkably few marks for the assigned grade. Slightly soft over the ear, the strike still exceeds the typical 1895-O by far. It is housed in an old blue label holder with the barcode on the back. Population: 21 in 60, 131 finer (3/17).
From The Siegel Collection.
HID02901242017