1889-CC $1 MS63 PCGS....

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Sold on Apr 30, 2009 for:

$34,500.00 Bid Source: Live: Phone bidder

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Brilliant MS63 1889-CC Morgan Dollar

1889-CC $1 MS63 PCGS. After a four-year hiatus beginning 1885, in 1889 the Carson City Mint reopened, producing 350,000 1889-CC silver dollars, compared with only 228,000 of the 1885-CC issue. But aside from both being Carson City Morgan dollars on either side of a suspension in coinage at the mint, there the comparison pretty much ends.
The 1885-CC is truly a rara avis in circulated condition; in fact, more than 65% of the total mintage of 1885-CC Morgans was dispersed in Uncirculated condition by the General Services Administration, after the great Treasury releases of 1962-64 were halted. The price/condition "curve" of the issue is a near-horizontal straight line, and in fact the commonest PCGS grade of all NGC- and PCGS-certified 1885-CC dollars is MS64. (Collectors of "Low Ball" Registry Sets find the 1885-CC to be a stumper.)
In contrast, the 1889-CC is often found in midgrade circulated shape, usually in the Fine to Very Fine range. (The average grade of certified 1889-CC dollars, which undoubtedly constitute the upper end of all survivors, is only around VF35.) As is not uncommon for key-date Morgan dollars, in Mint State grades the number of certified survivors decreases by an order of magnitude. At PCGS, the average grade of all Mint State survivors is MS62.2, and there is only a single Gem certified at that service, with one phenomenal MS68 finer--the ex: Eliasberg/Jack Lee coin, recently offered in our FUN 2009 Signature Auction.
Specifically regarding the present piece, it is one of 69 coins graded MS63 at PCGS--less duplications--and there are 31 finer, all but two of them in MS64 (3/09). This example is fully brilliant silver-white on both sides, with no discernible color. While there are a few minor contact marks consistent with the grade, the strike is full. Mild reflectivity appears on the obverse, more so on the reverse. This piece would nestle into a high-grade Morgan set quite nicely. Collectors contemplating a new set in the new year should make this issue one of the first pieces acquired--not the last.(Registry values: P9, N4719)

Coin Index Numbers: (NGC ID# 2559, PCGS# 7190, Greysheet# 7554)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from PCGS

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