LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Coin Auction #454  / 

3007

1895 $1 PR65 PCGS

Currency:USD Category:Coins & Paper Money Start Price:50,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1895 $1 PR65 PCGS
<B>1895 $1 PR65 PCGS.</B></I> With the 1895 dollar, what seems like a straightforward story on the surface becomes "curiouser and curiouser" when one scratches just below the surface. In his recent article on this enigmatic issue, Roger Burdette wrote:<BR><BR> "But why were such a small quantity of silver dollars struck and what happened to them? The answers may lie in expediency and profit.<BR> "The dollar blanks reported by Coiner William Morgan contained 10,312.5 ounces of fine silver and were valued at $8,400.69 (assuming 12,000 were used). As uncoined blanks, they were only worth bullion value; however, as struck coins they could be counted at face value--considerably greater worth than the silver bullion. By using the prepared blanks to coin 12,000 silver dollars, the Mint realized a quick profit of $3,599.31. This was the easiest way to deal with the excess blanks. There is no documentation to support asserting the pieces were actually struck coins dated 1894 except for one year-end notation. Further, backdating the coins to 1894 would have served no purpose, and would have been illegal."<BR><BR> While dozens of Cameo 1895 dollars exist, this is certainly one of the most attractive we have handled recently. The mint frost that covers the devices is remarkably thick and contrasts heavily against the illimitable depth of reflectivity seen in the "black" fields. When the reverse is considered by itself, that side is undoubtedly a Deep Mirror Prooflike. The obverse is just a bit less contrasted, and that side also shows just the slightest overlay of light golden toning. A magnificent Gem example of this always-popular Morgan dollar proof striking. Population: 14 in 65 Cameo, 23 finer (12/07).<BR><BR><B>Coin Engraver:</B> George T. Morgan<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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