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Lot: 1311
Auction: 1117   		1887/6-O $1 MS65 PCGS....
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Ended: Oct 23, 2008
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Description
Important Gem 1887/6-O Dollar
VAM-3, Top 100 Variety, Single Finest Known


1887/6-O $1 MS65 PCGS. VAM-3. A Top 100 Variety. In 1887, the Philadelphia Mint produced multiple overdated dies for Morgan dollars, and while one pair stayed in Philadelphia, the other was shipped to New Orleans, resulting in two overdate varieties for different issues in the same year. The event, though unusual, was not without precedent, since the Morgan dollars of 1880 include overdate variants for all four Mints that struck the denomination; nor were the 1887 and 1887-O pieces the last of their kind, since the 20th century brought the twin 1942 Mercury dime overdates from Philadelphia and Denver, and speculation swirls around possible 1914-dated branch mint Buffalo nickels showing the crossbar of a 3.
As with the dime overdates of 1942, the Philadelphia 1887 Morgan dollar overdate was discovered first, though little time passed between the November 1971 discovery of the 1887/6 by Ted F. Clark and the Bob Riethe identification of the 1887/6-O variant in 1972, per Q. David Bowers in his Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia, Volume Two. Bowers further notes that while the variety was little appreciated in the years immediately following its discovery (for example, Wayne Miller's The Morgan and Peace Dollar Textbook makes no mention of either 1887 overdate), the Van Allen - Mallis reference made the study of Morgan dollar die varieties popular, and the Fivaz - Stanton Cherrypickers' Guide further fueled collector interest. The 1887/6-O has received an entry in the Guide Book, which reflects widespread numismatic recognition of the variety and gives it the highest degree of collectibility.
In most grades, the 1887/6-O is available for a price; the majority of survivors are significantly circulated, and among Mint State representatives, grades below Select are the norm. Choice pieces are generally recognized as the best available to collectors, and in his 1993 Encyclopedia, Bowers wrote (before certified population data sets were mature) that "... possibly none (but in any event surely not more than 10)" examples of the variety are MS65 or better. Later, in his 2007 Guide Book of Morgan Silver Dollars, he claims that "All known Mint State coins are in lower grades, seemingly indicating potential for finding some [higher-graded 1887/6-O dollars] by carefully studying "regular" 1887-O dollars, some of which are gems (numerically, not necessarily from aspects of strike or luster)."
Who knows? Perhaps the present piece was one such coin, identified for what it was and suddenly elevated to the top of the condition census. It is the single finest survivor known, the only MS65 example certified by either NGC or PCGS (8/08), and as such, it is of supreme importance to the Morgan dollar collector seeking the ultimate in quality. This remarkable coin is from a prized earlier die state, with the underdigit feature visible to the sharp unaided eye and plain under magnification.
The eye appeal is impressive. It sports strong luster for the variety with readily appreciable cartwheels, a marked contrast from the "dull to average" characteristics cited by Bowers, and while the center of the portrait shows a faint degree of the usual striking softness, the eagle's feathers are bold with slight frostiness at the high points. Subtle pink and silver-gray shadings grace much of each side. Only a handful of shallow flaws are present on the surfaces, none of which jeopardize this coin's singular Gem designation. This precious piece, delightful as it is to behold, must be even more of a joy to own.(Registry values: P6, N7079) (#7178)

Auction Name: 2008 October Dallas, TX Signature US Coin Auction #1117
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-3154)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 16 Internet/mail bidders, 956 page views



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