1895 $1 PR67 Cameo PCGS. CAC....

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Sold on Feb 24, 2021 for:

$150,000.00 Bid Source: HA.com/Live bidder

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1895 Morgan Dollar, PR67 Cameo
Enigmatic Series Rarity
No Business Strikes Known

1895 $1 PR67 Cameo PCGS. CAC. An unremarkable mintage of 880 proof Morgan dollars was accomplished at the Philadelphia Mint in 1895, with the coins delivered in four batches throughout the year. Deliveries of 290 examples in March, 180 specimens in May, 90 pieces in September, and 320 coins in December are recorded, following a common pattern of collector demand, with most orders coming at the beginning and end of the year. Records show a tiny business-strike mintage of 12,000 examples was also produced, but no regular-issue coins have ever turned up in any collection.

The fate of the 1895 business-strike Morgan dollars is one of the greatest mysteries in American numismatics. Prominent researchers, from Q. David Bowers to Roger W. Burdette, have offered ingenious theories about the missing coins, but conclusive evidence remains elusive. One theory suggests the circulation-strike coins were never actually struck and the mintage figures represent some kind of clerical error in the records. Another theory indicates the coins were struck, but all were subsequently melted, perhaps under the provisions of the Pittman Act in 1918. Whatever the truth may be, no business-strike 1895 Morgan dollars are known to collectors today, leaving the small supply of proofs alone to satisfy collector demand. Accordingly, the 1895 Morgan dollar is the rarest, most sought-after issue in this incredibly popular series.

The elusive nature of the 1895 issue was recognized almost immediately and the proofs began selling at auction as early as lot 161 of the F. Merritt Alden Collection (S.H. & H. Chapman, 4/1896), "1895 Brilliant proof set. Dollar rare." The lot realized $4.40, a strong price at the time, for coins issued only the year before. Recent sales include the PR67 Cameo NGC specimen in our January 2013 FUN Signature that brought $88,125.

The present coin is a spectacular Superb Gem proof that exhibits sharply detailed design elements and deeply mirrored fields that contrast boldly with the frosty devices. The impeccably preserved surfaces are free of mentionable distractions and the overall eye appeal is terrific. The 1895 Morgan dollar is listed among the 100 Greatest U.S. Coins. Population: 9 in 67 (2 in 67+) Cameo, 2 finer. CAC: 6 in 67, 1 finer (1/21).(Registry values: N10218)

Coin Index Numbers: (NGC ID# 27ZR, PCGS# 87330, Greysheet# 7842)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from PCGS