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Lot
4260

1895 $1 PR61 NGC....

2012 September 6-9 US Coins Signature Auction- Long Beach #1174

 
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Auction Ended On: Sep 7, 2012
Item Activity: 7 Internet/mail/phone bidders
1,029 page views
Location: Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:

1895 Morgan Dollar, PR61
Key Proof-Only Issue
1895 $1 PR61 NGC. "Buy the nicest piece you can afford" has generally been excellent advice for collectors in most U.S. series, if they purchase wisely and hold their coins for a sufficient amount of time. The 1895 Morgan dollar is available in an especially wide grade range, since the issue's very popularity makes it more profitable to send in even the humblest circulated pieces for grading -- far more so than for other proofs in the series. Between NGC and PCGS combined (7/12), there are currently 137 submissions of circulated proof 1895 Morgans, those grading less than PR60 (and of course, not all different coins). While NGC shows a single example grading PR4, most of the circulated coins at the two services are in the range of PR40 to PR58, although there is a small pack at the PR20 level. These circulated examples have the effect of pulling the average grade of certified proof 1895s down to "PR60.3." If one excludes the impaired or circulated proofs, the average certified grade increases to "PR63.6." The finest examples are in the PR67-PR68 range.
This example is between those grading extremes, and it gives the collector an opportunity to acquire this key in a more-affordable grade, while still fully detailed and showing fully evident proof surfaces. Hairlining on each side has dulled the coin's original sparkle. But the fields were obviously so heavily polished in the Mint that much of the mirroring remains. Pale gray patina covers each side with a trace of golden at the margins, and there are no obvious or detracting contact marks present.(Registry values: N7079) (NGC ID# 27ZR, PCGS# 7330)

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