1895 $1 PR64 PCGS....

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Sold on Apr 30, 2009 for:

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Key-Date 1895 Morgan Dollar, PR64

1895 $1 PR64 PCGS. The 1893-S and the 1895 proof silver dollars have always been the keys to the Morgan dollar series. With its proof-only mintage of 880 pieces, the 1895 proof issue has been deservedly called "The King of the Morgan Dollars." Demand is always strong when any example is offered at auction.
Controversy has always surrounded the business strike mintage of 1895 Morgan silver dollars. Mint records indicate 12,000 coins were produced for circulation, but numismatists have never been able to locate a single example. Distinguished researchers, such as Q. David Bowers and Roger Burdette, have advanced plausible explanations for the disappearance of the entire mintage of this date, with accounting errors and melting under the Pittman Act being the most convincing theories. Unfortunately, in spite of the ingenious ideas and well-documented research that has been put forth, no real consensus has been reached about the disposition of these coins. Their fate remains a mystery.
What is not in doubt is the effect the disappearance of the business strikes has had on the proof mintage of 880 pieces. The situation was brought to the attention of the numismatic community early on. In The Numismatist June 1898 issue, George W. Rice warned collectors that 1895 silver dollars were only available in proof sets. The special status of the 1895 proof dollars became widely known, and while collectors might part with other proof issues during hard times, very few 1895 Morgan dollars have been willingly disposed of. Experts estimate a surviving population of approximately 700 examples, or 79.5%, an extremely high survival rate for any coin.
The present coin is a strongly struck example that once must have had significant cameo contrast, though each side now shows rich golden-tan color. Well-defined central devices show significant frostiness through the toning. A few modest hairlines visible beneath the patina account for the grade, though the coin's visual appeal is largely unaffected by these flaws. A highly desirable piece that should see strong bidding action. Population: 55 in 64, 37 finer (2/09).
From The Joseph C. Thomas Collection.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 27ZR, PCGS# 7330, GSID# 7841)

Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.77346oz
Mintage: 880

View all of [The Joseph C. Thomas Collection, Part One ]

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