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Lot
1173

1892-S $1 MS64 PCGS....

2009 August Los Angeles, CA US Coin Auction #1128

 
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Auction Ended On: Jul 31, 2009
Item Activity: 7 Internet/mail/phone bidders
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Location:

Hyatt Regency Century Plaza
2025 Avenue of the Stars
Los Angeles, CA 90067

Description:
Coveted Choice Mint State 1892-S Dollar
1892-S $1 MS64 PCGS. While the 1892-S dollar is well-recognized as a condition rarity today, this was not always the case. Q. David Bowers has an informative paragraph in his 1993 Silver Dollars & Trade Dollars of the United States:

"... in the days of long ago the 1892-S was not recognized as a rarity. No accolades were given to the issue whenever an Uncirculated coin crossed the auction block in the period extending up to 40 years after it was minted. ... In fact, it was not until comparatively recent years that the rarity of the 1892-S has been recognized; this after the San Francisco Mint dispersals from storage in the 1940s and 1950s apparently yielded no bags of this date, nor were any among the untold millions of Morgan dollars paid out by the Treasury during the 1962-1964 emptying of government vaults."

Since then, the pendulum has swung in the other direction, and the decades of neglect have only intensified the level of recognition the date now receives. In the same reference, Bowers noted for the issue: "Most Mint State 1892-S dollars are well struck and have good mint lustre and a minimum of bagmarks. High-grade examples are usually a joy to behold." This near-Gem certainly fills the bill, with a clean cheek and surprisingly smooth surfaces for a coin not certified as MS65. The strike is more than acceptable, and the fields shine through gauzy gray-gold toning that lends the piece an ethereal beauty. Population: 9 in 64, 14 finer (6/09).
From The Carson Silver Collection.(Registry values: P8, N7079) (NGC ID# 255P, PCGS# 7218)

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