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Lot
4105

1880-S $1 MS69 Prooflike PCGS....

2011 October 13-16 US Coins Signature Auction- Pittsburgh #1160

 
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Auction Ended On: Oct 14, 2011
Item Activity: 15 Internet/mail/phone bidders
8,436 page views
Location: David L. Lawrence Convention Center
1000 Ft. Duquesne Blvd.
Pittsburgh, PA 15222

Description:
The Finest Morgan Dollar Money Can Buy
1880-S, MS69 Prooflike, Ex: Bermuda
1880-S $1 MS69 Prooflike PCGS. Ex: Bermuda. A snapshot from the PCGS Population Report, August 31, 2011: 2,356,256 pieces are certified as circulation-strike coins with neither Prooflike nor Deep Mirror Prooflike surfaces. The service has graded 73,811 coins as Prooflike and 38,001 examples as Deep Mirror Prooflike. Focus on a grade, an incredible and nigh-impossible grade, MS69, and check the numbers for normal, Prooflike, and Deep Mirror Prooflike populations. The results: eight, one, none -- nine coins across the entire Morgan dollar series, and only one Prooflike.
With the sole exception of an 1896 Morgan dollar, all of the MS69-graded pieces come from one of two dates: 1880-S or 1881-S, both popularly known as plentiful and well-produced targets of type collectors. The 1880-S is the dominant date as far as MS69 coins are concerned, stacking up six examples to two for the 1881-S. Yet even the 1880-S, with its mintage of 8.9 million pieces and five-figure tally of Prooflike coins in the PCGS Population Report, has only one coin blessed with both the reflective fields and amazing preservation needed for an MS69 Prooflike grade.
Even NGC has never certified an MS69 Prooflike or Deep Prooflike Morgan dollar (8/11), making this coin, in the most literal sense, the finest Morgan dollar money can buy. Moderately reflective fields contrast well with distinctly frosted, sharply struck devices. Only the slightest hints of color catch the light: pale blues suggested in parts of the fields, a touch of rose glimpsed on the cheek. Only the tiniest luster breaks keep this coin from perfection; there is no flaw that could be called an "abrasion" in the ordinary sense. This is a coin that stands alone, impeccable and seemingly untouchable -- yet for the brief time it takes to sell an auction lot, it will be ownable. Seize the moment.(Registry values: P1, N2998) (NGC ID# 2544, PCGS# 7119)

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