Lot 1055
1886-O Morgan. NGC graded MS-64 Deep Prooflike. Well struck and untoned. Why is what should be a plentiful date so rare in high grade? The mintage topped 10 million coins. That makes it hard to fathom that so few 1886-O dollars exist in top-notch condition. The two-tone, cameo frosted Deep Prooflike offered here represents the only certified 1886-O dollar in its grade class! It is the first to ever cross the auction block at our firm. And, as we would expect with such a great condition rarity, this landmark offering may represent your one and only opportunity of a lifetime to acquire this piece!
A handful of other Morgan dollar issues, among them the 1884-S and 1895-O, exhibit high availablity in circulated to low-end Mint States but are nearly impossible to find in high-grade Mint States or prooflike. What do these issues have in common? The presence in the EF to AU grades in abundance suggests most all were released into circulation. A curiosity is that most all of the Morgan dollar issues that are condition rarities in Mint State are branch issues, with the exception of the 1901-P. One other thing: the passage of the Pittman Act of 1918 led to the destruction of over 270 million silver dollars! Could there have been bags and bags of the 1886-O lost forever when that happened? We will never know. Pop 1; the finest DPL graded at either service.
Estimated Value $35,000 - 45,000.
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| Realized $42,550 |
