Lot 1867
1904 Morgan Dollar. PCGS graded Proof 62. Only 650 struck. A nice untoned Proof which has light satin devices against the more reflective field. There is a small mark by the E of E PLURIBUS on the obverse, possibly accounting for a point of two discount in what would otherwise be a higher grade. Few collectors may know the reason the Mint ceased striking Morgan Dollars after 1904. A coinage act of June 13, 1898 required that all remaining bullion purchased under the earlier Sherman Act (which had been suspended in the Panic of 1893) be coined into dollars. Existing stocks thus earmarked for dollars (108,800,188 in all) were exhausted by 1904, ending Morgan Dollar coinage for 17 years. Most of these dollars, like their older siblings, remained in Treasury vaults until the 1960s. With production ended, the minting of Proof Silver Dollars also ceased (PCGS # 7339) .
Estimated Value $1,100 - 1,200.
The Cypress Estate.
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| Realized $1,783 |
