1895 $1 PR65 Cameo NGC. CAC....

Click the image to load the highest resolution version.

Sold on Jun 13, 2024 for:

Sign-in or Join (free & quick)

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

1895 Morgan Dollar, PR65 Cameo
'King of the Morgan Dollars'
Proof-Only Key Date
CAC-Endorsed Quality

1895 $1 PR65 Cameo NGC. CAC. Mint records indicate the Philadelphia Mint struck 880 proof Morgan dollars in 1895, to accompany a small business-strike production of 12,000 pieces. Inexplicably, no business-strike examples have ever been reliably reported in any collection, leaving only the small supply of proofs to satisfy the tremendous collector demand for the issue. The proof 1895 Morgan dollar has long been heralded as the "King of the Morgan Dollars", while the fate of the business-strikes remains one of the greatest mysteries in all of American numismatics.

Prominent researchers, from Q. David Bowers to Roger W. Burdette, have offered ingenious theories about the missing coins, but conclusive evidence remains elusive. One theory suggests the circulation-strike coins were never actually struck and the mintage figures represent some kind of clerical error in the records. Another theory indicates the coins were struck, but all were subsequently melted, perhaps under the provisions of the Pittman Act in 1918. Whatever the truth may be, no business-strike 1895 Morgan dollars are known to collectors today, leaving the small supply of proofs alone to satisfy the demand from date collectors. Accordingly, the 1895 Morgan dollar is one of the rarest, most sought-after issues in this incredibly popular series.

The elusive nature of the 1895 issue was recognized almost immediately and the proofs began selling at auction as early as lot 161 of the F. Merritt Alden Collection (S.H. & H. Chapman, 4/1896), "1895 Brilliant proof set. Dollar rare." The lot realized $4.40, a strong price at the time, for coins issued only the year before. Of course, prices realized have risen exponentially over the years. Recent sales include the PR65 Cameo PCGS example that realized $99,875 in our January 2013 FUN Signature Auction.

The present coin is a spectacular Gem proof that exhibits razor-sharp definition on the richly frosted design elements. The well-preserved surfaces are enhanced by vivid shades of sea-green and cerulean-blue peripheral toning, with mostly brilliant centers and deeply reflective fields underneath. The mirrored fields contrast boldly with the frosty devices to create a stunning cameo effect when the coin is tilted in the light. Overall eye appeal is terrific and the high quality within the grade is confirmed by CAC. Census: 21 in 65 Cameo, 34 finer. CAC: 5 in 65, 17 finer (5/24).
Ex: Baltimore Rarities Night Auction (Stack's Bowers, 11/2021), lot 4073.(Registry values: N7079)
From The Citizen Bold Collection.

Coin Index Numbers: (NGC ID# 27ZR, PCGS# 87330, GSID# 7842)

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

View all of [The Citizen Bold Collection ]

View Certification Details from NGC

View Certification Details from CAC sticker