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Long Beach Signature US Coin Sale 1256 8-9 Jun 2017
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Proof Morgan Dollars
1895 $1 PR64+ Cameo PCGS. Intrigue regarding the production of any business strike Morgan dollars in 1895 has persisted for more than 120 years. Officially, Philadelphia Mint records indicate a production of 12,000 business strikes were coined in June 1895. However, the failure of any authenticated circulation strike examples to surface tends to support two conceivable scenarios. It is possible that the entire 12,000-coin mintage was melted under the terms of the Pittman Act of 1918, and that no coins ever got into the hands of entrepreneurial Mint employees or well-connected collectors. Another possibility is that the Mint never produced any pieces in the first place. The prevailing opinion among most numismatic researchers tends to support the latter scenario, which suggests the reported mintage of 12,000 coins is merely the result of an improper entry or clerical error.
One notable voice supporting the actual mintage of circulation strikes comes from Roger Burdette, who documented evidence that the blanks were on hand, later shown on the cashier's daily balance that they were struck on June 28, 1895, and that six circulation samples were indeed provided to the assay commission. Although no circulation strike dies were prepared in 1895 according to Chief Engraver Charles Barber's annual report of dies, the circulation strike coins were perhaps struck from proof dies. Burdette concluded the whereabouts of the coins is still unknown, but most likely they were melted.
Whether they were melted or misrepresented in the ledger books, business strike representatives are unavailable to those looking to complete a Morgan dollar date and mintmark set. Consequently, collectors must turn to the estimated 400 survivors from an original mintage of 880 proofs. The result is perennially fierce competition for an extremely limited supply of 1895 Morgan dollar proofs in relation to collector demand. The issue's captivating history, relative scarcity, and legendary status make it the "King of the Morgan Dollars," and the presence of an example in any collection is the mark of a series specialist.
The present coin is an attractive, high-end Choice specimen with razor-sharp definition on all design elements and deeply mirrored fields that contrast boldly with the frosty devices. The well-preserved surfaces show a few highlights of pale gold toning and eye appeal is outstanding. Population: 34 in 64 (2 in 64+) Cameo, 33 finer (4/17).
HID02901242017
1895 $1 PR64+ Cameo PCGS. Intrigue regarding the production of any business strike Morgan dollars in 1895 has persisted for more than 120 years. Officially, Philadelphia Mint records indicate a production of 12,000 business strikes were coined in June 1895. However, the failure of any authenticated circulation strike examples to surface tends to support two conceivable scenarios. It is possible that the entire 12,000-coin mintage was melted under the terms of the Pittman Act of 1918, and that no coins ever got into the hands of entrepreneurial Mint employees or well-connected collectors. Another possibility is that the Mint never produced any pieces in the first place. The prevailing opinion among most numismatic researchers tends to support the latter scenario, which suggests the reported mintage of 12,000 coins is merely the result of an improper entry or clerical error.
One notable voice supporting the actual mintage of circulation strikes comes from Roger Burdette, who documented evidence that the blanks were on hand, later shown on the cashier's daily balance that they were struck on June 28, 1895, and that six circulation samples were indeed provided to the assay commission. Although no circulation strike dies were prepared in 1895 according to Chief Engraver Charles Barber's annual report of dies, the circulation strike coins were perhaps struck from proof dies. Burdette concluded the whereabouts of the coins is still unknown, but most likely they were melted.
Whether they were melted or misrepresented in the ledger books, business strike representatives are unavailable to those looking to complete a Morgan dollar date and mintmark set. Consequently, collectors must turn to the estimated 400 survivors from an original mintage of 880 proofs. The result is perennially fierce competition for an extremely limited supply of 1895 Morgan dollar proofs in relation to collector demand. The issue's captivating history, relative scarcity, and legendary status make it the "King of the Morgan Dollars," and the presence of an example in any collection is the mark of a series specialist.
The present coin is an attractive, high-end Choice specimen with razor-sharp definition on all design elements and deeply mirrored fields that contrast boldly with the frosty devices. The well-preserved surfaces show a few highlights of pale gold toning and eye appeal is outstanding. Population: 34 in 64 (2 in 64+) Cameo, 33 finer (4/17).
HID02901242017