1883-S $1 MS67 Prooflike PCGS. CAC....

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The Clapp-Eliasberg 1883-S Morgan Dollar, MS67 Prooflike

1883-S $1 MS67 Prooflike PCGS. CAC. Ex: Eliasberg. Best described as a condition rarity in top grades, the 1883-S Morgan dollar is relatively plentiful in lower Mint State grades. It is also a major rarity in prooflike preservation. A quick glance at the current PCGS population data will prove quite revealing: they have certified 2,266 examples in grades from MS60 to MS64, 22 coins in the same grade range with prooflike or deep prooflike surfaces, only 18 coins in grades from MS65 to MS67, and just two pieces in that grade range with prooflike surfaces, including the present piece from the Eliasberg Collection, a green-label PCGS coin that remains the single finest 1883-S dollar that PCGS has ever certified. It is in the top numerical grade for the issue, and it is the only Superb Gem certified with prooflike surfaces.
Most of the 1883-S dollars that were stored after they were minted became available to collectors in the first half of the 20th century, including the release of a few bags in the 1950s. There were apparently none left for release during the 1962 to 1964 Treasury distribution. The price of this issue remained at low levels until it was realized that none would appear in the early 60s Treasure activities, then prices quickly and dramatically rose. Nearly all of the existing commentary about the 1883-S Morgan dollar is geared toward lower Mint State grades, as that was the available supply. In 1982, Wayne Miller discussed the 1970s market for Uncirculated coins in The Morgan and Peace Dollar Textbook:
"Until a few years ago, such specimens were very rare. However an enormous jump in the price of the 1883-S in 1973 - it moved from $75 to $275 in less than six months-brought many specimens into the market. Over 100 Uncirculated pieces were available at the summer 1973 Long Beach coin show. The Redfield hoard contained a quantity of high-quality 1883-S dollars. Most were well struck with good luster. As usual, surface abrasions prevented most from being considered in the gem category. The 1883-S is still a difficult date to obtain in strictly BU condition. ... BU specimens are usually well struck with good luster and are readily discernible from sliders. Bagmarks tend to be plentiful."
In the Eliasberg catalog, Dave Bowers said the following about the present coin, a comment that is equally apropos today: "The 1883-S [MS67 PL] Eliasberg Collection specimen is one of the most important Morgan dollars of this date to come on the market in our generation."
This amazing coin is fully prooflike, deep enough that Dave Bowers cataloged the coin as MS66 Deep Prooflike in the Eliasberg catalog. The surfaces have a hint of pale champagne toning on both sides, although most collectors would readily call it a fully brilliant silver specimen. Like nearly all Mint State 1883-S dollars, it is sharply struck.
Ex: J.M Clapp; John H. Clapp; Clapp Estate; Louis E. Eliasberg, Sr; Eliasberg Estate (Bowers and Merena, 4/1997), lot 2265.
From The Sanderson Family Collection.
See: Video Lot Description(Registry values: P7, N10218)

Coin Index Numbers: (NGC ID# 254K, PCGS# 7149, GSID# 7523)

Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.77346oz
Mintage: 6,250,000

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View Certification Details from PCGS