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Lot
4462

1895 $1 PR66 Cameo NGC....

2012 May 30- June 3 US Coins Signature Auction- Long Beach #1171

 
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Auction Ended On: Jun 1, 2012
Item Activity: 14 Internet/mail/phone bidders Number of Bidders
2,249 page views
Location: Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:
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1895 PR66 Cameo Morgan Dollar
One of the Finest From the Mintage of 880 Proofs
1895 $1 PR66 Cameo NGC. The proof-only 1895 Morgan dollar and its business strike counterpart, the 1893-S, are the undisputed keys to the series, rare in all grades, conditionally very rare in high grades, and in demand from collectors and dealers at any grade and reasonable price point.
It is the absence of business strike Morgan dollars dated 1895 that makes the 1895 proofs so valuable; in and of themselves, they are neither more nor less rare than other proofs in the series: The proof production of 880 pieces was unremarkable. However, when one considers that there are likely 10,000 or more Morgan dollar specialists in the United States, the issue becomes one of the utmost importance.
Q. David Bowers, writing in the Buyer's Guide to Silver Dollars and Trade Dollars of the United States, notes that the 1858 Liberty Seated dollar is the sole proof-only issue within that series: "As such, it has acquired a special cachet over the years. Together with the 1851 and 1852, the 1858 is one of the 'big three' in the series."
Bowers notes another important similarity to the 1895 proof Morgans, one highly relevant to collectors today:

"While only about 300 were made, these were sold especially to numismatists, who preserved them. Accordingly, many survive today. As a date, the 1858 is two or three orders rarer than the Proof-only 1895 Morgan dollar (the only Proof-only date in the Morgan series). However, the 1858 sells for less money, as there are fewer specialists in the Liberty Seated field."


The 1895 Morgan dollar was well-known as a rarity within a few years of its manufacture, and accordingly, collectors have preserved a good percentage of the original production. But as with other Morgan dollar proof issues, any example at the Gem or finer grade level is elusive, as the average certified survivor is about PR64 or so. This is an especially attractive and well-preserved piece. The fields are glassy-smooth and exhibit unfathomable depth of reflectivity. The frosted devices are notably contrasted. While the piece is mostly brilliant, there is a hint of golden patina on each side. One of the best-preserved 1895 dollars. Census: 16 in 66 Cameo, 18 finer (4/12).(Registry values: N10218) (PCGS# 87330)

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