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3759

1896 $1 PR67 Cameo PCGS....

2012 March 8-11 US Coin Signature Auction - New York #1168

 
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Auction Ended On: Mar 8, 2012
Item Activity: 7 Internet/mail/phone bidders
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Location: Ukrainian Institute of America at The Fletcher-Sinclair Mansion
2 East 79th Street
New York, NY 10075

Description:
Superb Gem Proof 1896 Morgan Dollar
Dramatic Cameo Surfaces, No Cameos Finer at PCGS
1896 $1 PR67 Cameo PCGS. Of the 27 proof Morgan dollar issues (1878 through 1904), only eight dates have a lower mintage than the 1896, of which 762 pieces were struck for collectors. Even the heralded 1895 proof Morgan dollar saw a higher production. The combined total of 1896 dated proofs graded at NGC and PCGS is 565 coins (1/12), which is indicative of a high survival rate for this issue. However, that total includes all proof dollars, regardless of the quality of manufacture and/or post-mint impairments. As specialists of this series know, many proofs were mishandled through poor storage choices and improper cleaning. The totals also include an unknown number of resubmissions and crossovers. The current coin resides in the upper echelon of all extant examples, as established by the current PCGS population of three in 67 Cameo with none finer (1/12). The PCGS Population Report has changed little in recent years for the 1896 proof Morgan dollar and it is unlikely that significant numbers of new Cameo examples will be graded at this lofty level or higher, although there are some outstanding examples certified outside the designation..
As expected, this proof is almost perfectly preserved. The fields are deeply mirrored and the devices display heavy mint frost which gives the coin a stark cameo contrast on each side. Both obverse and reverse have an overlay of pale rose-gray patina. Exceptional quality.
(Registry values: N4719) (PCGS# 87331)

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