Right now there are 9 bidders who obviously disagree with the consensus of this forum, and over 5 days still left. It goes without saying:'Let the buyer beware'.
The seller claims this is a proof coin, but isn't the 1895 the only proof Morgan. 1895 Philadelphia issue, which has only been found as a proof mintage of 880 dollars. This coins is a 1888 and he also claims 880 made. This looks like a Deep Mirror Proof-Like (DMPL), not a real proof coin.
If is not a proof coin then this is a misleading or incorrectly labeled add and can be reported to ebay. They will pull it for fraud. If it was real 1894 proof, and cleaned and even with a finger print at the 8 o'clock it would be worth over $20,000. I'm calling shenanigans on this one.
1895P is a proof-only issue, not the only Morgan proof(proofs were minted for every single year including a few branch mint proofs) and most years have a mintage of between 700 and 1000. Your given value is way off as an 1888 PR60 is worth $1350 while a PR67 is only worth $15,940 per Numismedia and almost all proof Morgans can be obtained for less than $5000. The coin is most likely a genuine proof but knowing the seller, the surfaces are almost certainly not original which means the coin is already way overpriced with current bids at the PR63 level.
The 1895P proof is so bloody expensive because of demand that is not present for the rest of the issues due to the silly notion that a Morgan set is not complete unless an 1895P is included. There was an alleged mintage of 1895P business strikes but none have ever been proven to exist so the entire mintage was either melted or never existed in the first place.
Or you could look at one of the two or three largest ebay coin dealers, a firm with 73,000 feedbacks and a reputation for selling authentic coins with "flattering" photography. No doubt in my mind it's a genuine 1888 Proof, but at that price it needs to be 64CAM, and as tough as Proofs are graded there's no way to determine it from the images provided.
I'm honestly amazed there are people left who don't know about these guys. They sell decent stuff - solid businessmen - but they're very good at presenting a coin in its' best-possible light.
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Posted 05/18/2012 10:17 am
