Lot 1794
1888 Morgan Dollar. PCGS graded MS-66 Deep Mirror Prooflike. A blast white gem. This is a virtually blemish-free example, white in color, with nice mint bloom. What gladdens everyone most is to see a crisp rather than a dullish, smooth impression was left by the pressure of the dies that struck this sharp specimen. Liberty's hair as well as the eagle's breast show excellent detail. The smooth-flowing mirror surface of the fields is uninterrupted by frost or heavy bagmarking. By way of contrast, the alpine-zone of snow white frost on the relief portions is what gives this its bold contrast, its "deep mirror" appearance and beauty. Here is one for a top Registry Set. Pop 8, 1 better by a point. (PCGS # 97183) .
The 1888 is a scarce issue with a Prooflike finish, and it it quite rare as a DMPL. When offered with one of these finishes, the '88-P is also apt to be noticeably abraded and confined to the MS-60 through MS-64 grade range.
The Morgan Dollar was the first standard Silver Dollar struck in the United States Mint since early 1873. This series derives its name from its designer, George T. Morgan, who was formerly a pupil of the famed William Wyon in the Royal Mint in London. Authorized by the Bland-Allison Act of February 28, 1878, the Morgan Dollar was produced every year from 1878 through 1904. The coin was essentially an outlet for western mine owners who were having difficulty selling silver bullion on the world market. The use of the Morgan Dollar for this purpose received a further boost with the Sherman Silver Purchase Act of July 14, 1890, but it was finally halted in 1904 when the bullion supply became exhausted. Since the 1918 Pittman Act called for the replacement of all the Silver Dollars that the government melted at the end of World War I, and the new Peace design was not yet ready for production, the Morgan design was revived for one final mass coinage. The original hubs had been destroyed, however, as the Mint did not expect to strike any more coins of this denomination after 1904. As a result, it had to create new hubs for the Morgan Dollar in 1921, and examples of this date are slightly (yet perceptibly) different in design from earlier coins of this type.
Estimated Value $4,500 - 5,000.
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| Realized $8,913 |
