1895 Morgan Dollar Proof
brokecollector
Posts: 75 ✭✭✭
Has anyone noticed the number of coins coming on to the market lately? I just noticed that Heritage has four of them in auction 1277. David Lawrence has offered a number of them recently. I even see them on Ebay. Is this normal market action for a fairly rare coin? Is there a hoard being liquidated?
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Comments
Proofs bounce around more than your average "rare" coin....because they have generally been kept (i.e. very high survival rates) and there is less interest in these coins, generally speaking. The result is that coins that one might consider rare appear more frequently than one might expect. I don't think what you note is particularly unusual, but then again I'm not a heavy collector of the series, so perhaps there's something that I'm not aware of for this issue.
1895 proof dollars are probably more frequently seen than any other date. Collectors have been aware of the difficulty in locating one for more than a century, so these have been subject to less attrition than other dollar proofs. Scarcity of S and O mint pieces for that year also increases the desirability of 1895 proofs.
Probably 400 are known. Figure one coming to market per week is not unreasonable.
We have one too, but the market will easily absorb these if they are priced right.
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I can't speak for current DLRC inventory on these, but when I was there, I would buy every single 1895 Morgan dollar at fair market price. The 1895, which not rare, is one of the most reliably sellable non-gold U.S. coin in the 40-100k level. Period. Collectors and dealers love this date and they usually come "nice" so they are easy to sell. I never had trouble selling one. If I were an investor in coins (which I'm not because of my post at CDN), I would buy a roll quantity of them.
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I agree with John, its not a date I would want to own, rather own one of the better MS pieces in same price range, but 95 proofs are popular, they sell and are easy to move at fair prices. Everybody I know that doesn't really know true Ms rarities in the morgan dollar series, know about and want to own a 95 proof. Its a crazy phenomenon.
I think Ian's piece currently up for auction will do well
On the other hand, one of the dealers in Westchester has four pieces in his own collection including two in rattler holders with nice toning, so there are at least a few people who may have hoarded these in the past.
Commems and Early Type
These always sell for the right or current prices. They are iconic coins and many people
Want one. They are very,similar to the Saint High Relief. Great coin and slow and steady
Growth for,the most part.
I got lucky and probably own the finest 1895. The toning is amazing. As you know most,are,not
Toned. I,will try to,get a photo.
Perfection
You're definitely not allowed to make this post without a picture so get to it!
A long time ago, probably the late 1960s or early 1970s, A collector had his proof US seated and Morgan dollars on display at a show I attended. I wish I could remember his name, I think it was Dr. Sartoris (sp). He had them all, plus several patterns. All I remember is that I helped him put them away. When I picked up his 1895 Morgan he commented that he overpaid for the coin at the time ($8.10) because it was the last one he needed to complete his set. I sometimes wonder if the provenance of those that come up for sale could be the one that I one time held in my bare hand.
it's crackers to slip a rozzer the dropsy in snide
FYI -- there is at least one private "group" of 1895 proofs consisting of 10 (or more by now ?) beautiful pieces. It's in its 3rd (maybe 4th by now) generation of ownership. According to family members I had dinner with long ago, the first generation bought a couple because they were the birth year of his parents - one for each parent. The proofs were beautiful and about the same price as other 1895 mints. Other examples were added over the pre-WW-II years by the originator and by children. All that I saw were in cotton-lines envelopes.
Now --- everyone has something to look forward to....sometime.
One think I can say about the 1895 Proof dollar is that it must be a good investment. When I was dealer I bought and sold a nice, but not outstanding PR-63 in the low $20 thousands. Later the collector consigned it to me and I sold it for him in the low $30 thousands. When I retired it was up to $40 thousand + on the Gray Sheet. Now it's up to $52 thousand.
I believe my,set will be on display at the next winter fun show
Hard for me to take good photos as I,not want them cracked.
Stop by the Witter coin table at Ana. He will have some thing
special,of mine. Not sure what. Yet. Perhaps a set.
Also next Friday I,will be listing my second of Pr morgans
Had iit for a long time. Some,of,the coins are nicer than,in set,one but the grade is less
I also,think two,are,not CAC
The 1895;is an amazing looking 66+dcam 66
https://images.pcgs.com/CoinFacts/25530256_800x600.jpg
This could be the one in set two.
Very nice 1895 proof dollar; and thank you for the gift! I'll PM my address....
)
I haven't located a holed one yet.
Absolutely Awesome that this thread dug out the finest 1895 Morgan Proof and it’s owner...here is a better shot of your BEAUTIFUL BABY!!!! Congrats!!!!
Maybe Perfection's nearly perfect 1895 proof was originally purchased by one of these collectors or coin dealers ---
Interesting, thanks for posting this.
it's crackers to slip a rozzer the dropsy in snide
I know one collector who actually has a roll of them. Literally
The thing I don't get is that if "average" coins have gone from 20 to 50 to 60+K, are current holders at 60k thinking they are going to keep going up? Wow, that is a bet I wouldn't want. Hopefully joy of ownership keeps them happy for a bit....
Well, just Love coins, period.
looks like the gc coin kicked as
I have a roll of 1961 proof nickels.