Heritage World Coin Auctions
CSNS Signature US Coin Sale 1254 26-28 Apr 2017
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Proof Morgan Dollars
1895 $1 PR64 Cameo PCGS. The Morgan dollar is a favorite series in American numismatics, and for good reason. A host of issues are available in high grades, while others are collectible in circulated condition but become major rarities in Mint State. A number of issues, like the 1889-CC and 1893-S are moderately available but subject to intense demand because of their attractive low mintages. This creates a interesting blend of obtainable and elusive issues that keep collectors searching.
Then there is the 1895, perhaps the most enigmatic emission in the entire set. Philadelphia Mint records show that 12,880 Morgan dollars were struck in 1895, including 880 proofs. That leaves 12,000 circulation strikes that were supposedly manufactured. There is only one problem: No such coins have ever been located. Over time, researchers drew various conclusions. Some thought the coins originally intended for circulation were never released and were eventually melted as part of the Pittman Act in 1918. Others claimed that no circulation strikes were ever made and that the entry in the Mint records was erroneous -- a line of thinking that now prevails among scholars. Some researchers hedged their bets on the existence of truly Uncirculated 1895 dollars. John J. Ford wrote in the April 1950 issue of The Numismatist: "I'll wager that there were never 12,000 1895 Dollars or even 1,000. For my money, between 860 and 880 odd pieces ever left the confines of that stately old building in Philly. Of the 880, or whatever the exact number may be, I believe that 860 were struck in Proof and perhaps 20 in Uncirculated condition." Still, no Mint State example has been verified.
All 1895 proof dollars are extremely desirable in today's market. That applies to everything from impaired specimens to Superb Gem Deep Cameo coins. This Choice Cameo proof offers attractive lavender-gold accents over silvery surfaces, particularly evident throughout the reverse. The high standards of proof production of the era are on full display with noticeable contrast and excellent preservation. Population: 33 in 64 Cameo, 33 finer (3/17).
From The Siegel Collection.
HID02901242017
1895 $1 PR64 Cameo PCGS. The Morgan dollar is a favorite series in American numismatics, and for good reason. A host of issues are available in high grades, while others are collectible in circulated condition but become major rarities in Mint State. A number of issues, like the 1889-CC and 1893-S are moderately available but subject to intense demand because of their attractive low mintages. This creates a interesting blend of obtainable and elusive issues that keep collectors searching.
Then there is the 1895, perhaps the most enigmatic emission in the entire set. Philadelphia Mint records show that 12,880 Morgan dollars were struck in 1895, including 880 proofs. That leaves 12,000 circulation strikes that were supposedly manufactured. There is only one problem: No such coins have ever been located. Over time, researchers drew various conclusions. Some thought the coins originally intended for circulation were never released and were eventually melted as part of the Pittman Act in 1918. Others claimed that no circulation strikes were ever made and that the entry in the Mint records was erroneous -- a line of thinking that now prevails among scholars. Some researchers hedged their bets on the existence of truly Uncirculated 1895 dollars. John J. Ford wrote in the April 1950 issue of The Numismatist: "I'll wager that there were never 12,000 1895 Dollars or even 1,000. For my money, between 860 and 880 odd pieces ever left the confines of that stately old building in Philly. Of the 880, or whatever the exact number may be, I believe that 860 were struck in Proof and perhaps 20 in Uncirculated condition." Still, no Mint State example has been verified.
All 1895 proof dollars are extremely desirable in today's market. That applies to everything from impaired specimens to Superb Gem Deep Cameo coins. This Choice Cameo proof offers attractive lavender-gold accents over silvery surfaces, particularly evident throughout the reverse. The high standards of proof production of the era are on full display with noticeable contrast and excellent preservation. Population: 33 in 64 Cameo, 33 finer (3/17).
From The Siegel Collection.
HID02901242017