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1895 Morgan Dollar Proof

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?

Comments

  • MikeInFLMikeInFL Posts: 10,188 ✭✭✭✭
    edited June 22, 2018 3:10PM

    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.

    Collector of Large Cents, US Type, and modern pocket change.
  • RogerBRogerB Posts: 8,852 ✭✭✭✭✭
    edited June 22, 2018 3:17PM

    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.

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    Probably 400 are known. Figure one coming to market per week is not unreasonable.

  • ianrussellianrussell Posts: 2,496 ✭✭✭✭✭

    We have one too, but the market will easily absorb these if they are priced right.

    • Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
  • JohnFJohnF Posts: 328 ✭✭✭✭

    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. :)

    John Feigenbaum
    Whitman Brands: President/CEO (www.greysheet.com; www.whitman.com)
    PNG: Executive Director (www.pngdealers.org)
  • jdimmickjdimmick Posts: 9,753 ✭✭✭✭✭

    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

  • CommemDudeCommemDude Posts: 2,313 ✭✭✭✭✭

    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.

    Dr Mikey
    Commems and Early Type
  • PerfectionPerfection Posts: 180 ✭✭✭

    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

  • PhilLynottPhilLynott Posts: 895 ✭✭✭✭✭

    @Perfection said:
    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!

  • tommy44tommy44 Posts: 2,312 ✭✭✭✭✭

    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

  • RogerBRogerB Posts: 8,852 ✭✭✭✭✭

    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. ;)

  • BillJonesBillJones Posts: 34,674 ✭✭✭✭✭

    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. :o

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • PerfectionPerfection Posts: 180 ✭✭✭

    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

  • PerfectionPerfection Posts: 180 ✭✭✭

    https://images.pcgs.com/CoinFacts/25530256_800x600.jpg
    This could be the one in set two.

  • RogerBRogerB Posts: 8,852 ✭✭✭✭✭

    Very nice 1895 proof dollar; and thank you for the gift! I'll PM my address.... :smiley: )

  • HoledandCreativeHoledandCreative Posts: 2,825 ✭✭✭✭✭

    I haven't located a holed one yet.

  • 3keepSECRETif2rDEAD3keepSECRETif2rDEAD Posts: 4,285 ✭✭✭✭✭

    @Perfection said:
    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

    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!!!! ;)

  • RogerBRogerB Posts: 8,852 ✭✭✭✭✭
    edited June 24, 2018 8:38AM

    Maybe Perfection's nearly perfect 1895 proof was originally purchased by one of these collectors or coin dealers ---

  • tommy44tommy44 Posts: 2,312 ✭✭✭✭✭

    Interesting, thanks for posting this.

    it's crackers to slip a rozzer the dropsy in snide

  • joebb21joebb21 Posts: 4,760 ✭✭✭✭✭

    I know one collector who actually has a roll of them. Literally

    may the fonz be with you...always...
  • 7Jaguars7Jaguars Posts: 7,687 ✭✭✭✭✭

    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....

    Love that Milled British (1830-1960)
    Well, just Love coins, period.
  • jdimmickjdimmick Posts: 9,753 ✭✭✭✭✭

    looks like the gc coin kicked as

  • crazyhounddogcrazyhounddog Posts: 14,042 ✭✭✭✭✭

    @joebb21 said:
    I know one collector who actually has a roll of them. Literally

    I have a roll of 1961 proof nickels.

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.

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