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Sale 32
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Lot 2078
1895 Morgan Dollar. NGC graded Proof 68. Lightly toned on both sides with light green, blue and grey shades. Pop 2; 7 in PF68 Cameo; 4 in PF68 Ultra Cameo; 1 in PF69 Ultra Cameo. Rarest of the rare in the Morgan series, attested to by all to be the "King of the Morgan Dollars" and for many reasons, the first of which is that only 880 Proofs were minted and it is from these few that generations of collectors, must vie with one another for ownership of the small obtainable supply on the market at any one time.
The coin is, breathlessly beautiful, a knock-out. As can be seen in the photographs, it acquired deep original iridescent shades of toning in its years spent in the original tissue wrapper. Where later Proof coins are packaged in either celluloid or cellophane sleeves (1930s-1950s) or flat-pack plastic by the mint, all pre-1916 Proof coinage was sent to its recipients in simple jeweler's tissue paper. The tissue paper has a certain amount of sulfur content. And it is this which imparted the many marvelous colors often seen on Proof Morgans, like this glittering 1895. Faithful to every detail from a full blow by the dies, the hair is crystal clear down to the tiniest hair strand, and this includes the important curls directly above the ear, with only two of them appearing fused together; included also in this full blow by the dies, a resplendent eagle, proud and assured, with full-featured wings outstretched and a nice feather-covered chest projecting from the central part of this side of the design. The coin itself, grading Proof 68, is housed in a protective NGC holder and will forever remind us just how spectacular these early Morgan dollars were in Proof condition. Don't let the current market price dissuade you from bidding. As seems inevitable whenever a great rarity like a Gem Proof 1895 Morgan dollar changes hands, the interest and value only intensifies, year over year (PCGS # 7330) .
Aside from the annual issue of Proofs, coins of this type were routinely ignored by the vast majority of hobbyists. It was not until decades later in the 1950s and 1960s that collectors sought to own an example of each mint's products for each respective date. Only then did it become apparent that none of the 12,000 1895 Philadelphia Mint Dollars reportedly struck for circulation were extant. Not a single verifiable example could be located, and the demand for this issue has ever since fallen entirely on the few hundred Proofs surviving from that year.
Estimated Value $100,000 - 115,000.
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| Realized $115,000 |
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