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    1895 Morgan Dollar, PR64 Cameo
    Historic Series Key
    Only 880 Pieces Minted

    1895 $1 PR64 Cameo PCGS. The 1895 Morgan dollar is known only in proof format and boasts the lowest total mintage of the series by far, at 880 proof examples. The issue is known as the "King of the Morgan Silver Dollars," and series specialists hotly contest any auction appearance of this date. A few issues (the 1893-S comes to mind) are more difficult to locate in high grade, but in absolute terms the 1895 is the rarest Morgan by a wide margin.
    Most numismatists are familiar with the mystery surrounding the regular-issue 1895 Morgan dollar. Mint records indicate a tiny mintage of 12,000 business-strike examples were coined in 1895, to accompany the proof mintage of 880 pieces. Unfortunately, no business-strike coin has ever surfaced in any numismatic channel, and collectors have relied exclusively on the meager proof mintage to satisfy the huge collector demand for this issue.
    The elusive nature of the dollar was recognized almost immediately, casting doubt on the very existence of the business-strike mintage. In the F. Merritt Alden Collection (S.H. & H. Chapman, 4/1896) an 1895 proof set was offered as lot 161, "1895 Brilliant proof set. Dollar rare. 6 pieces." The fact the dollar was recognized as a rare issue only months after it was minted indicates the supply must have been extremely limited from the date of issue. Q. David Bowers cites research by Henry Hettger that suggests the 12,000 business strikes were an accounting error and never existed at all. It is certainly worth noting that the only dollar coin submitted to the Assay Commission for 1895 was a proof. Alternate theories include all examples being melted under the provisions of the Pittman Act after 1918, and a single buyer purchasing all 12 bags of the business-strike mintage for some purpose of his own. Whatever the fate of the regular-issue coins, ownership of a proof 1895 has always been the mark of a serious Morgan dollar collector.
    The present coin is an impressive Choice example, with razor-sharp details on all design elements. The deeply mirrored fields contrast dramatically with the frosty devices, culminating in the delightful Cameo effect. Light wisps of gold and lavender toning enliven the pleasing surfaces on both sides. A few hairlines in the fields account for the grade, but do little to detract from the appeal of this classic numismatic icon. Population: 24 in 64 Cameo, 17 finer (1/11).(Registry values: N7079)

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

    Weight: 26.73 grams

    Metal: 90% Silver, 10% Copper

    View Certification Details from PCGS

    Auction Info

    Auction Dates
    February, 2011
    3rd-6th Thursday-Sunday
    Bids + Registered Phone Bidders: 32
    Lot Tracking Activity: N/A
    Page Views: 8,993

    Buyer's Premium per Lot:
    15% of the successful bid (minimum $14) per lot.

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