Proof Morgan Dollars
1902 $1 PR68 NGC. Ex: Jack Lee/Chappell Collection. Proof 1902 silver dollars, as with all proof coins struck in that year, were produced with a no-contrast finish, as the Mint altered its die-making process for proof issues. As a result, proof 1902 dollars are extremely rare with any degree of cameo contrast. Collectors instead usually strive to acquire the finest possible non-Cameo for their collections.
The present coin is among the finest known. The only surface defect we see (get out your magnifier) is a tiny planchet flaw on Liberty's jaw. The fields are deeply mirrored, and the sharp devices are rich and satiny. Much of the original brilliance remains on each side, but both obverse and reverse have an occasional dash of golden-brown patina. The NGC Census indicates that seven coins have been graded at the PR68 numeric level, although we suspect that at least some duplication is reflected by those figures. Census: 7 in 68 (3 in 68 ★), 0 finer (6/17).
Ex: Bullet Sale (Heritage, 11/2003), lot 1728.
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