1895 $1 PR65 Deep Cameo PCGS Secure....

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1895 Dollar, PR65 Deep Cameo
The Legendary Proof Key
Few Deep Cameos Seen in Recent Years

1895 $1 PR65 Deep Cameo PCGS Secure. Proof silver dollars in 1895 were struck on a quarterly basis as part of silver proof sets, with a total of 880 pieces produced. Mint records indicate a coinage of 12,000 circulation strikes, but it has been suggested that this entry was an accounting error and that those coins were not dated 1895. Around the turn of the 20th century, the Chapman brothers believed that the 1895 dollar was a proof-only issue. In the description of a six-piece proof set in the Harrison Collection (Chapman Brothers, 7/1901), lot 606, they wrote: "Only 860 of the dollars coined at Philadelphia mint this year and all proofs. Will be one of the most valuable of proof sets in time." (Why the Chapmans listed a mintage of 860 pieces instead of 880 is not known.)

In contrast, some researchers, including Roger Burdette, suggest that 12,000 circulation strikes were coined in June 1895, using a small stock of planchets that the Mint had on hand. A common explanation for the disappearance of these coins is the Pittman Act melts of 1918. Due to the economic difficulties of the mid-1890s, as well as the fact that the Treasury and federal reserve banks had large quantities of unused silver dollars on hand, it is conceivable that a small quantity of 1895 dollars could have been stored for decades without ever leaving the Mint, and then melted. In any case, no circulation strike 1895 dollar has ever been available to collectors, making this issue effectively a proof-only rarity.

According to Walter Breen, some original 1895 proof sets were still intact in the 1940s and '50s, but shortly thereafter the last of these were broken up to access the dollar individually. Today, the 1895 proof is the single most commanding Morgan dollar of any date and mint combination and is the subject of spirited bidding whenever offered at auction. As Breen wrote in his Proof Encyclopedia, "The coin is always available for a price -- but what a price!"

This Gem Deep Cameo example showcases liquidlike mirroring in the fields and frosty, glistening luster on the devices. It is fully struck and devoid of any noticeable imperfections. The initial impression is that this piece is brilliant, although hints of russet-gold emerge from the peripheries upon closer examination. The 1895 proof is missing from many Morgan dollar collections. This is a piece that can be owned and displayed with pride. Population: 6 in 65 (2 in 65+) Deep Cameo, 18 finer (3/18).
From The Estate of S. Gus and Louise Alexander. (Registry values: P4)

Coin Index Numbers: (NGC ID# 27ZR, PCGS# 97330, GSID# 7843)

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

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