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

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Miraculous 1880-O Morgan Dollar, The Jack Lee Coin
MS65 Deep Mirror Prooflike, Finest Certified

1880-O $1 MS65 Deep Mirror Prooflike PCGS. Micro O. This splendid Gem Deep Mirror Prooflike coin was formerly certified in a green-label holder with the impressive Jack Lee pedigree. Although the original production exceeded 5.3 million coins, this is the sole MS65 Deep Mirror Prooflike certified of the issue at PCGS, and there are none such at NGC (7/10).
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.
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 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.
Bag marks can vary for the issue; some 1880-Os show severe bag marks, although there are many pleasing exceptions.
Any Gem example of the 1880-O dollar is a prize. As of (7/10), only 56 coins, regardless of designation, have been awarded an MS65 grade by PCGS and NGC combined, and none have been graded higher. Of those 56 Gems, only two have received a Prooflike designation, and the present piece is the only Gem also designated Deep Mirror Prooflike, rendering it likely the finest known example of the date.
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 mint frost, 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 and a PCGS-certified population of one coin with none finer regardless of designation, this Gem Deep Mirror Prooflike 1880-O Morgan is suited for the finest collection.
Ex: Jack Lee; Carson Silver Collection (Heritage, 7/2009), lot 1166, which brought $54,625.(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

View Certification Details from PCGS