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4397

1895 $1 PR66 Cameo PCGS....

2012 November 29 - December 2 US Coin Signature Auction - Houston #1177

 
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Offers to date: $130,000 on April 26, 2014
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Auction Ended On: Nov 30, 2012
Item Activity: 12 Internet/mail/phone bidders
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Location: George R. Brown Convention Center
1001 Avenida de las Americas
Houston, TX 77010

Description:
1895 PR66 Cameo Morgan Dollar
Among the Finest Cameo Examples Certified
1895 $1 PR66 Cameo PCGS. The essence, the identity, the what-it-isness of the 1895 Morgan dollar proof is all tied up in what it is not -- not business strike, not circulation issue, proof-only, 880 coins, no more. None of the 12,000 reported circulation strikes has ever turned up, and odds against one ever turning up are a long shot at best, an impossibility at worst.
This means that the legions of Morgan dollar collectors who need an 1895 Philadelphia coin must buy a proof. The drive to completeness that fuels many a collector will not allow him or her to know of an issue that exists and not possess one.
As we have observed before on more than one occasion, the 1895 Morgan dollar proofs are in and of themselves no rarer than any other proof issue in the series, all of which saw annual production figures in the several hundreds to a bit more than a thousand.
It is the absence of business strikes that makes the proof 1895s so special, so noteworthy.
The unusual dual nature of the 1895 Morgan dollar can even be discerned in a reference such as The 100 Greatest U.S. Coins, where the issue is ranked 66th -- and the 1893-S circulation strike is ranked 83rd. Authors Jeff Garrett and Ron Guth write that "because of the great demand for this date, prices for 1895 Silver Dollars are considerably higher than for Proofs of other dates of comparable mintage."
So, the question occurs to us: How much is nothing worth? In the case of the 1895 proof Morgan dollar, apparently quite a lot. The value of this example of the 1895 dollar is seen in its inherent beauty and remarkable preservation. The untoned surfaces are deeply mirrored with thick mint frost over the devices, setting up the strong cameo contrast. The surfaces are essentially as-struck; the only pedigree identifiers are a tiny speck of die grease on the end of Liberty's nose and a couple of even smaller ones on the lower part of the cap. Population: 4 in 66 (1 in 66+) Cameo, 5 finer (10/12).(Registry values: N10218) (PCGS# 87330)

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