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 Replies: 18 / Views: 3,211 |
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Pillar of the Community
United States
1613 Posts |
When one thinks of the rarest of Morgan dollars, the 1895s is the prized key to any serious collector. Now, imagine finding an extremely rare 1895 set as issued from the United States Mint. The outer envelope, the folded tissue paper holding several coins which have not seen the light of day in well over a century. Including the King of the Morgans! This very find happened within a few months. But wait, it gets better. Not one set, but 22 complete sets in total bought by one individual the day each were issued. Sets covering the years 1886 to 1908. All as packaged by Mint employees. The lucky individual who may just end up with the ultimate collection of proof sets is Richard Nachbar of Nachbar Rare Coins. Based on his assessment the Morgan does not have the faintest of hairlines under ten power magnification! Must be a true gem in ever sense of the word. Dare I suggest a 68? I could go on with the article I read on this, but I won't due to space and time. So I'll end it there by asking a few questions. How many of the finest known grades will be broken? And by what level? More importantly, what will they bring at auction?  If interested in the full article, pick up a copy of this months Coin World Coin Values. Or perhaps Google it? ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon
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Pillar of the Community
United States
4691 Posts |
Well, back in the day, it was the 1903-O. Then GSA turned a lot of them loose. A "forgotten rarity".
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Valued Member
United States
206 Posts |
I really must check the attic again!
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Bedrock of the Community
United States
12057 Posts |
1903-O is still a very scarce date. It is expensive in any grade, from AG to MS, but nowhere near the price of the 1889-CC, 1893-S, 1895, and 1895-S. As far as rarity goes, I would suggest that would be to find a Prooflike Uncirculated 1878-S Long Nock 8TF; if we discount PL/DMPL as factors, or very scarce VAMs, leaving only condition/date/MM, I would include the 1884-S, 1886-O, 1889-CC and 1901 in MS65 or better as being among the toughest coins in the entire series, with price tags to match. For Deep Mirror Prooflike coins, using PCGS data, the San Fran issues of 1892 (1 seen), 1893 (0 seen), 1896 (0 seen) and 1921 (0 seen) head up the list; 1903-S (0 seen) and 1904-S (1 seen) are also both extremely rare in DMPL, and the 1901 Philly issue has no examples known in DMPL above MS61. A complete set of Morgan dollars all in MS65 would have a value close to, if not exceeding, $2 million. If we look only at 1895: 1895 (Proof Only) - PCGS and NGC have graded less than 5 examples of the 1895 Morgan in PR68, the top known grade. For Deep Cameo, PCGS has a single example graded PR68+DC, an absolutely gorgeous coin which has only traded privately. A PR68DC example brought $121K in 2010; a PR67DC brought just under $200K in 2015. 1895-O: The finest known example is a single MS67 graded by PCGS. The last time it was up for sale (2005) it realized $575,000 at Heritage (Jack Lee). The finest known DMPL's are 2 MS65DMPL, one PCGS and one NGC; the PCGS example sold for $253k in the same Heritage sale (Jack Lee.) 1895-S: The finest known example is a single MS66+ (ex: Coronet) that sold for $114k in 2015; there are 5 MS66'S between NGC and CAC. The finest known DMPL is a single MS67DMPL graded by PCGS which brought $207k in 2005, also ex: Jack Lee. I'm sure there are many records to be tied, or broken even. Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis Edited by paralyse
04/27/2019 9:08 pm
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Pillar of the Community
United States
1023 Posts |
Paralyse, what are your thoughts on 1889-S? I had a decent one that I sold. I always thought that was a tough date in mid MS condition.
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Bedrock of the Community
Australia
21786 Posts |
Any CC in high MS would be good enough for me!
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Valued Member
United States
325 Posts |
When I was a kid, I gradually got a bunch of silver dollars from a few relatives, probably mostly my mother and her father. I still have them all. One of them is an 1886 S in what I think is XF condition. That's probably my rarest coin.
With unexpected hoards of Morgans emerging once in a while, I suppose the relative prices of the different years/MMs will shift around.
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Moderator
 United States
56855 Posts |
The first thing that comes to my mind over all, when I here rare Morgans are any CC Morgan. John1  |
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Bedrock of the Community
United States
20753 Posts |
When I was a kid my Dad always gave me an allowance in Silver Dollars. And I spent them as if they were money. Back then that's all they were.
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Pillar of the Community
United States
5825 Posts |
When I used to collect Morgans my top coin was an 1893-S.
I think it was a VG.
Got close to $2000 for it when I sold the set.
At that time I had a complete date/mm set except for the 1895.
I don't collect proofs (except for my birth year set).
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Pillar of the Community
United States
745 Posts |
Along with the other ones mentioned, the 1894
Tim Hughes
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Bedrock of the Community
United States
12057 Posts |
@Jon Brand, 1889-S was historically one of the toughest coins in general and a significant scarcity in any grade, rivalling the 1893-S IMO.
A low mintage of 700k didn't hurt. This changed somewhat when several bags were released with the Treasury hoards. The Redfield Hoard also had a decent quantity (2-3 bags IIRC) of 1889-S in AU and MS condition.
It is still a date and MM which carry a premium in any grade, but there are plenty of Redfield examples available, many in their original Paramount holders. Like many Redfield coins, most have moderate to heavy peripheral toning.
Above MS65 (>1500 graded between NCG/PCGS) it becomes a significant conditional rarity and expensive to boot, with NGC (who certified many of the Redfield coins a few years later) having only 34 coins graded higher than MS65 (2 65+ and 32 66's, none higher than MS66.) PCGS has graded some higher: 13 66+'s and a lone 67. PL/DMPL coins are out there but not many and cost mucho dinero.
Oddly, it's also one of the toughest lowball Morgans to acquire, NGC having graded exactly one in Poor and PCGS with 2 graded.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Bedrock of the Community
Australia
21786 Posts |
It has to be remembered that lowball generally coins are less often submitted, due to a much lower potential value.
Perhaps this factor, in part at least, may help to explain why the population for lowball coins (Morgans included), is as low as it is.
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Valued Member
52 Posts |
This takes me back memory lane!
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Bedrock of the Community
United States
17884 Posts |
What comes to mind when I think of rare Morgan dollars? That there aren't any. |
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CCF Advertiser
United States
1533 Posts |
What I think of is any Morgan dollar that actually saw circulation. |
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Replies: 18 / Views: 3,211 |
Posted 04/27/2019 8:39 pm
