1895 $1 PR63 PCGS....

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1895 Morgan Dollar, Toned PR63
A Recognized Rarity Since 1896

1895 $1 PR63 PCGS. The popularity of the 1895 Morgan dollar stems from the earliest days of its existence. Contemporary numismatists such as the Chapman brothers were aware of its low mintage from the get-go, as well as, apparently, it only having been struck in proof format. In the April 1896 catalog for the F. Merritt Alden Collection, the Chapmans described a brilliant 1895 silver proof set with the additional note: "Dollar rare." Five years later, in their catalog for the Harrison Collection, the Chapman's wrote in lot 606: "Only 860 of the dollars coined at Philadelphia mint this year and all proofs."

Their quote of an 860-coin proof mintage was wrong, as Mint records indicate 880 proofs were struck -- possibly a translation error caused by the similarity of written 6s and 8s -- but the perception that only proofs were struck is more important in this record. Mint records for 1895 show a ledger entry of 12,000 circulation strikes produced that year, none of which have ever turned up in numismatic channels. One school of thought is that those 12,000 circulation strikes were retained by the Mint and later melted, likely after 1918. However, some scholars provide research that suggests the ledger entry was an accounting error, and the 12,000 coins were pieces dated 1894, not 1895. The latter thought supports the Chapman brothers' assertion in 1901 that no business strikes were produced. It also means that the true total mintage of the 1895 Morgan dollar was just 880 proofs, leading to the issue's modern-day status as the "King of Morgan Dollars."

This Select example displays a bold strike and glimmering fields, with minor hairlines well-hidden by rich patina. That toning forms interesting and unique shades of russet and olive-green over each side, which complements the sharpness of the design and does not impede the field reflectivity. Eye appeal is pleasing for the grade. While many examples of this important key date are far out of reach for many collectors, this example may be slightly more accessible while still retaining significant technical quality.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 27ZR, PCGS# 7330, Greysheet# 7841)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from PCGS