The Lost Dutchman Found at Heritage! Outstanding Collection of Morgan Dollars to be Offered at Auction

Dallas, Texas: The Lost Dutchman Collection, a stunning set of carefully selected high grade Morgan dollars, will be offered by Heritage Numismatic Auctions, Inc (HNAI) in their upcoming FUN auction, to be held January 12-15, 2005 in Fort Lauderdale, Florida.

"The Lost Dutchman Collection was formed by Todd Van Kleeck, of Lost Dutchman Rare Coins in Indianapolis, on behalf of a very private collector," said Greg Rohan, President of HNAI. "The story of the process is especially fascinating because this magnificent collection arose through the initial purchase of four overgraded coins!"

"The owner," Rohan continued, "wishing to put together a collection of Morgan Dollars for an overseas acquaintance, started with four Morgans bought on eBay in non-mainstream holders. Stopping by the Lost Dutchman shop for the first time, he showed Todd his purchases. Todd gently explained that all of the coins were overgraded and/or had problems of other sorts, which naturally upset the gentleman. Six weeks later he returned, after PCGS had confirmed all of the information Todd had provided. He had discovered the value of accurate advice for a novice, even when it comes through a small, local coin shop."

"Subsequently," said Rohan, "Todd was asked to assemble this wonderful collection. He looked at thousands of coins and worked with major firms throughout America, buying through auction, inventory, and private treaty. In fact, Todd has described HNAI's own Dave Lindvall as being 'invaluable' in helping him select the coins for this ambitious undertaking. The owner, as the chase continued, became fascinated by rare coins, and is now liquidating this collection to diversify into other series."

Highlights of the collection include:

1893-S $1 MS64 PCGS.
The proof-only 1895 aside, this issue has long been recognized as the premier rarity in the Morgan Dollar series. The election of President Grover Cleveland and the financial panic caused by the hoarding of gold during this period marked a shift in government policy toward the minting of Silver Dollars. The repeal of the Sherman Act became law in the winter of 1893 and mintages were drastically reduced. Just 100,000 pieces were struck, a tiny figure by Morgan Dollar standards, and the vast majority were either extensively circulated or later melted. Today, even XF and AU examples can be very difficult and costly to locate and the occasional appearance of a Mint State piece never fails to capture a numismatic headline. There have never been any significant hoards of 1893-S Morgan Dollars located, and none were in the Treasury release of the 1960s. In The Morgan and Peace Dollar Text Book, author Wayne Miller mentioned a small hoard: "Many BU 1893-S dollars can be traced to a hoard of twenty pieces found in a BU bag of 1894-S dollars in Great Falls, Montana in the early 1950s. These dollars were dispersed over a twenty year period, one or two at a time." This virtual Gem representative is accented in delicate golden hues and shows just a few slight blemishes on and in the vicinity of Liberty's chin. The strike is more than adequate for the issue and the luster is more satiny than cartwheel. The distinctive markers of genuine 1893-S Dollars, a tiny die chip located in the left base of R and a diagonal die line that severs the left arm of T, are clearly on display. Only a few dozen Mint State pieces are known to exist, and they are among the most prized Silver Dollars of any date and any type. Population: 4 in 64, 7 finer (11/04).

1884-S $1 AU55 PCGS.
From The Lost Dutchman Collection.

1888-S $1 MS66 PCGS.
This is an amazing opportunity for the advanced Morgan dollar collector. The 1888-S is one of the important condition rarities with the series. In fact, PCGS has only certified two finer examples of this date! Most of this date that were retained by the Treasury were released long before the massive vault clearing event of the 1960s, and by that time few remained. A few bags were also included in the famous Redfield Hoard of the 1970s, but nearly all of those were lower quality. This Gem is intriguing for its colorful toning at the upper part of the obverse, and additional splashes at the lower reverse. The surfaces are frosty and lustrous with sharp design definition.
From The Lost Dutchman Collection.

1893-CC $1 MS64 PCGS.
Sharply struck and blazing white. A luscious borderline Gem example of this much-coveted rarity. An opportunity to buy a coin nearly indistinguishable from MS65 for a fraction of the price.
From The Lost Dutchman Collection.

Images, descriptions, and prices realized from all of Heritage's previous sales are available in the Permanent Auction Archives at the Heritage website.

To purchase a catalog for any Heritage Sale, please contact Customer Service, 800-872-6467, Ext. 272, 3500 Maple Avenue, 17th Floor, Dallas, TX., 75219 or visit HeritageGalleries.com to order by credit card.