LOT Heritage Rare Coin Galleries  /  2006 October Dallas Signature Coin Auction #428  / 

2350

1895 S$1 PR65 NGC. While Roger W. Burdette has recentl

Currency:USD Category:Coins & Paper Money Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1895 S$1 PR65 NGC. While Roger W. Burdette has recentl
<B>1895<img border='0' src='http://www.heritagecoins.com/images/star.gif' width=10 height=10>$1> PR65 NGC.</B></I> While Roger W. Burdette has recently convincingly argued that 12,000 business strike 1895 Morgan dollars were produced--and reminds us again (as the Bowers-Borckardt silver dollar <I>Encyclopedia</B></I> does) that five obverse and four reverse dies were used, there the Bowers and Burdette theories seem to diverge. Bowers documents characteristics of the four obverse dies he believes were used only for proofs, reserving the fifth die for business strikes. Burdette theorizes that the dies were apparently used for both business strikes and proofs, but that the business strikes were likely melted in 1918 under the Pittman Act, or perhaps later.<BR> The Bowers encyclopedia relates an interesting story regarding a possible business strike. Bowers writes the following concerning an interview he conducted with the legendary John J. Ford, Jr.:<BR><BR><I> At the ANA show in Denver in 1963, Harry J. Forman brought to me an 1895 silver dollar in absolutely Mint State. It had no trace of Proof surface, it wasn't circulated; it wasn't an alteration ... . I know I was convinced it was a Philadelphia Mint '95 absolutely Mint State, unaltered.<BR><BR> I didn't have the access to a Proof dollar to compare the dies. But I remember I wanted to buy the coin in the worst way, and the guy wouldn't sell it. This went on and on for about two days. The guy wouldn't budge, wouldn't sell it. I think at the time the '95 silver dollar in Proof was not selling for huge money. I really can't remember what it was selling for, $2,500 or something like that ... . This is not hearsay; I actually held the coin, I tried to buy it. And I offered the guy practically what a Proof was selling for. It was a strong offer in those days.</B></I><BR><BR> Of course, many today would consider a "strong offer" for a business strike 1895 Morgan to be much <I>more</B></I> than for a proof; that is perhaps part of the reason Ford failed to acquire it. The present example matches the characteristics that Bowers enumerates for proof obverse die No. 2. The 1 in the date is centered over a denticle; the left base is over the right edge of a denticle, and the right base is over the left edge of a denticle. The ball of 5 is over the right edge of a denticle; minor repunching faintly shows on the top of that digit. The bottom loop of the 9 is frosty rather than prooflike, and the date appears to slant slightly upwards to the right. Delectable ice-blue and amber toning lightly coats each side. Close examination fails to reveal any evidence of contact, although a lintmark is seen between the bottom of the eagle's left (facing) wing and the olive leaves below. A second lintmark is seen on the reverse rim between the star and O in ONE. A delightful, problem-free example of this always-popular issue. Census: 29 in 65, 37 finer (9/06).
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