Cool Morgan you don't see everyday

BigAl

No mint mark, a well circulated proof up for auction at Bowers. An overrated coin for sure, but still interesting to see a straight graded circ proof. Guesses on how much it will hammer?

braddick

The owner of this one wants $57,000:

I will venture a guess the above Morgan will close at 40K.

MojaveGhost

How are you able to identify these two coins as proofs? I apologize if this is a stupid question.

Morgan13

@MojaveGhost said:
How are you able to identify these two coins as proofs? I apologize if this is a stupid question.

All that were made for the date were proofs. No business strikes.

MojaveGhost

Thanks. I should have known that.

coastaljerseyguy

From photos, I like the Fine better, the circulation appears to have worn the surface makes down to a nice overall look.

JimTyler

I remember when I was offered a beautiful 64 for 17k. Who had 17k back then.

Walkerguy21D

@MojaveGhost said:
Thanks. I should have known that.

While true the ‘95P Morgans were all proofs, I’ll bet that there are skillfully altered branch mint coins with mm’s removed.
I’m sure there are die characteristics the experts know.

Jacques_Loungecoque

@MojaveGhost said:
Thanks. I should have known that.

Unless you’re a serious Morgan collector, or have a photographic memory, I sure don’t blame you for asking. Not one bit. There are no stupid questions, just stupid people who don’t ask them!

I guarantee you that for your whole life going forward, you’ll remember this tidbit of numismatic knowledge.

BAJJERFAN

I thought that 12,000 biz strikes were sent to the smelter.

BigAl

@BAJJERFAN said:
I thought that 12,000 biz strikes were sent to the smelter.

.
Something like that, less the 4 or so that made it out if I recall correctly.

BAJJERFAN

I never heard that any made it out. Where are they? Any pics of them?

messydesk

@BAJJERFAN said:
I never heard that any made it out. Where are they? Any pics of them?

The fleeting existence of the 1895 business strikes centers around the order to coin 12,000 dollars in June. The Superintendent and Coiner were retiring and the books needed to be balanced. Whether they struck 12,000 coins and either stored or immediately condemned them, or whether they produced 12,000 stored 1894 dollars is not known. They 1894 dies were destroyed in early 1895, so they would not have been struck dated 1894.

John Dannreuther has/had a theory that some made it out, simply because of the population of lower grade coins that is known. 1895 was a known valuable coin the year it was made, and the proofs had to be ordered from the mint individually. Why would so many of them get spent? The business strikes would have been made with proof dies on the 12,000 blanks that were to be struck in June, so there's no telling them from the proofs from the die diagnostics.

The problem I have with this is that the grade distribution of business strikes that got out would include a few higher grade coins that don't quite look like proofs. The "why would so many get spent" argument becomes "why wouldn't any have been saved in high grade?" Also, circulated proofs of 1894 and 1896 would have a much easier time hiding undetected among the many circulated business strikes of those dates, keeping the population down.

There are four die pairs that made the proofs. I've assigned VAM numbers to them and need to put up the pages on VAMWorld. JD will discuss them at length in his upcoming book on silver proof coinage.

coinshop

That's a great proof 53! Never seen a PF53 lol!!

CRHer700

@BigAl said:
No mint mark, a well circulated proof up for auction at Bowers. An overrated coin for sure, but still interesting to see a straight graded circ proof. Guesses on how much it will hammer?

What's the grade on this?

CaptHenway

@MojaveGhost said:
How are you able to identify these two coins as proofs? I apologize if this is a stupid question.

There are a few minor die characteristics in well protected areas that can be seen under a microscope.