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Lot
7369

1894 $1 PR67 Deep Cameo PCGS. CAC....

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

 
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Auction Ended On: Aug 12, 2011
Item Activity: 10 Internet/mail/phone bidders
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Location: Marriott - Chicago O Hare
8535 W. Higgins Road
Chicago, IL 60631

Description:

1894 Morgan Dollar, PR67 Deep Cameo
One Finer at PCGS
1894 $1 PR67 Deep Cameo PCGS. CAC. The 1894 Morgan dollar needs no introduction to the legions of dedicated collectors of this popular series. For a Philadelphia business strike, the 1894's total of only 110,000 pieces places it as the lowest issue by a country mile, and second only to the legendary 1893-S, at 100,000 coins.
While the production figure of the proof 1894 Morgans is a nominal 972 pieces, there can be little doubt that the proof issue receives an added boost from the considerable cachet that the 1894 business strikes have attained.
We have written elsewhere in this sale of the surprising rarity of proof Morgan dollars at the Gem level or finer. It appears that most examples have been cleaned, spent, suffered contact damage, are worn from cabinet friction or circulation, or otherwise have become impaired or simply irretrievably lost. That applies in spades to the 1894 proof dollars, where a large preponderance of the issue certified at PCGS falls into the grade range of PR62 to PR64.
The present Superb Gem Deep Cameo proof is the only example so certified at PCGS, and it is exceeded in technical grade by a sole example in the PCGS grade of PR68+ (6/11). (There are four other PR67 1894s at PCGS, one Cameo and three non-Cameo.) The surfaces are nearly perfect, as demanded at this grade level, save for a touch of high-point strike softness above Liberty's ear. Under a loupe, a couple of tiny carbon specks appear on Liberty's neck, another one on the cheek. Both sides are brilliant, with little trace of color. The surfaces show considerable field-device contrast with deeply mirrored fields.
From The Paul Taylor Collection of Proof Morgan Dollars.(Registry values: P3) (PCGS# 97329)

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