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Lot
7370

1895 $1 PR67 Deep Cameo PCGS....

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

 
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Auction Ended On: Aug 12, 2011
Item Activity: 6 Internet/mail/phone bidders
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Location: Marriott - Chicago O Hare
8535 W. Higgins Road
Chicago, IL 60631

Description:

1895 Dollar, PR67 Deep Cameo
Almost Perfectly Preserved, Fully Brilliant Example
1895 $1 PR67 Deep Cameo PCGS. Researcher Roger Burdette wrote an article titled "Philly 1895 Morgan Dollars" for the September 2006 issue of Coin Values magazine. In it, Burdette describes how the Mint ledger of engraver Charles Barber shows that five obverse dies and four reverse dies were produced for the proof Morgan dollars of 1895; the same report shows no dies being manufactured for circulation strike Morgan dollars. Nonetheless, the cashier's daily balance sheet for June 28, 1895, shows that 12,000 silver dollars were received from the coiner.
Burdette writes:

"Production of 12,000 silver dollars on June 28 is confirmed in the coiner's monthly report for June. This states that 12,000 silver dollars, 200,000 half dollars, 608,000 quarter dollars, 160,000 dimes, 964,000 5-cent coins and 2,300,000 cents, plus 1,220,000 20-centavo coins for Ecuador, were struck by the Philadelphia Mint that month. The same 12,000 silver dollars are reported on the report of coins reserved for the assay commission for June, and in a letter of July 1 to director Preston."


But where are they now? No known business strike Morgan dollar has ever turned up in any collection. While there appears to be ample evidence that the coins were in fact struck, the most probable explanation is that they were melted under the auspices of the Pittman Silver Purchase Act of 1918.
The Bowers Silver Dollar Encyclopedia describes in detail four obverse dies known for the proof 1895 Morgans, citing J.P. Martin of the American Numismatic Association Authentication Bureau:

"1. 1895 Proof obverse die No. 1: Numeral 1 in date to the left of center over denticle. Left base of 1 over right half of denticle. Right base of 1 over left edge of denticle. Lower part of serif of 1 shows slight repunching. Ball of 5 over right half of denticle. Date seems to slant up very slightly to the right.
"2. 1895 Proof obverse die No. 2: Numeral 1 in the date is centered over a denticle. Left base of 1 is over the right edge of a denticle, and the right base of 1 is over the left edge of a denticle. The ball of 5 is over the right edge of a denticle. The upper part of the 5 shows slight repunching. The bottom loop of the 9 is frosty rather than prooflike. The date seems to slant slightly up to the right.
"3. 1895 Proof obverse die No. 3: The numeral 1 in the date is to the right of the center over a denticle. The left base of the 1 is over the right edge of the denticle, and the right base of the 1 is over the left half of denticle. Ball of the 5 is above the space between denticles. The date slants slightly up to the right, with the distance between the 1 and the denticle being smaller than the distance between the 5 and the denticle under it, such proportional difference being greater than obverses 1, 2, and 4.
"4. 1895 Proof obverse die No. 4: The numeral 1 in the date is to the right of the center over the denticle. The left base of the 1 is over the left edge of a denticle, and the right base of the 1 is over the center of a denticle. The ball of the 5 is above the space between denticles. The date is level, and the distance between the 1 and the denticle somewhat below it and the 5 [and] the denticle below it are about the same -- the only die with this characteristic."


The Burdette 2006 article, noting that the 1895 Morgan dollar is often called the "King of Morgan dollars," says in its introduction, "There are rarer silver dollars -- 1794 Flowing Hair and 1851 and 1870-S Seated Liberty dollars among them -- but no other combines skimpy availability with a good mystery." This fabulous, deeply reflective example displays strongly contrasting mint frost over the devices. Each side is brilliant, and no contact marks appear on either side. For specialists, this example is struck from Martin's obverse die No. 3.
From The Paul Taylor Collection of Proof Morgan Dollars.(Registry values: P4) (PCGS# 97330)

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