1880-O $1 MS65 Deep Mirror Prooflike PCGS....

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Important 1880-O Morgan Dollar, Ex: Jack Lee
MS65 Deep Mirror Prooflike
Single Finest Certified at PCGS

1880-O $1 MS65 Deep Mirror Prooflike PCGS. Ex: Jack Lee. Certified in a green-label holder with the impressive Jack Lee pedigree, this splendid Gem Deep Mirror Prooflike coin is from an issue that exceeds 5.3 million coins. Despite that enormous emission from the New Orleans Mint at the turn of the 1880s, this is the sole MS65 Deep Mirror Prooflike certified of the issue at PCGS, and there are none such at NGC (6/09).
The challenges involved in finding a Gem Deep Mirror Prooflike example of this issue boil down to circulation, strike, luster and contrast, and bag marks, not necessarily in order of importance.
Concerning circulation, most examples of the large 1880-O production appear to have circulated for at least a short while, so that today the average grade of certified survivors is only MS62 or thereabouts. In other words, for every Gem certified at NGC and PCGS, there is an AU58 coin graded as well.
Strike is a problem with the issue, if not to the same degree as some later O-mint issues. All 1880-O Morgans have the reverse of 1879, with slanted top arrow feather on the reverse and rounded breast on the eagle. (Bowers comments, "A number of dies were overdated and show small traces of earlier digits. These have not created much attention in the marketplace, save for dyed-in-the-wool specialists." The present piece is one such.) Many 1880-Os show noticeable softness in the hair over Liberty's ear or on the eagle's breast.
Some of the 1880-O dollars show satiny or greasy luster and/or little to no contrast, neither feature conducive to a Deep Mirror Prooflike certification. Prooflike coins exist, but few of them attain the Gem level.
Bagmarks can vary for the issue; some 1880-Os show severe bag marks, although there are many pleasing exceptions.
In summary, this coin is a phenomenon that defies several stereotypes in order to reach the summit, the crème de la crème. The strike is pleasingly bold on surfaces that are silver-white, with no trace of color. The devices exhibit thick arctic permafrost, with radiant field mirrors. The few ticks in the field are minor, consistent with the Gem grade--but there are no marks of significance.
With an impressive pedigree, early green-label holder, and a PCGS-certified population of one coin, this Gem Deep Mirror Prooflike 1880-O Morgan is suited for the finest collection and must be considered among the most important Morgan dollar offerings in this auction. Population: 1 in 65 Deep Mirror Prooflike, 0 finer (6/09).
From The Carson Silver Collection.(Registry values: P6, N4719)

Coin Index Numbers: (NGC ID# 2543, PCGS# 97115, GSID# 7719)

Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.77346oz

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View Certification Details from PCGS