1893 MORGAN DOLLAR PCGS PR 67 DEEP CAMEO for $45,000
ultimatecameo
Posts: 244
1893 MORGAN DOLLAR PCGS PR 67 DEEP CAMEO for $45,000
Crazy? Possibly!!!!!
The coin is not even the highest proof grade PCGS has given this date!
A “no hype” price we just paid for one of the most spectacular cameo PCGS Morgan dollars I’ve ever had the pleasure of handling. The coin is spectacular – among the deepest, frostiest cameo proof Morgan dollars in existence. The only examples I have seen the past decade which offered cameo contrast that might be comparable or superior to this coin were a couple of the very finest 1898 cameo proof Morgans – the finest 1898’s widely considered to be the deepest cameo proof Morgan dollars in existence.
The image is a straight scan. The coin is even frostier and deeper, certainly more striking, if you get to see it firsthand. I can’t help but marvel at the craftsmanship that went into the creation of this coin, given the technology of the ear it was struck. The individual who prepared the dies that eventually created this proof Morgan was an artist and a perfectionist. It would be nice to know who he was! We all know about the individuals who designed these classics. What about the people responsible for actually making the coins we collect today?
I am certain the craftsman responsible for the die that struck this coin is gazing down on us today, content in knowing that his work is appreciated 109 years later.
And the collectors who have owned this coin? They deserve credit for passing it down, generation to generation, maintaining its superb proof surfaces in a condition virtually indistinguishable from the day the coin was struck.
It was a huge premium. On the other hand, the previous owner maintained that this coin was originally in another grading service holder some 12 years ago, graded Proof 68, where it sold in auction for approximately $70,000.
This is the last date in the 1878-1904 series my client needed in superb cameo. We had to make a decision: If he wanted to build a set of proof Morgan dollars that may be the finest known, could he afford to pass on this coin? What are the chances a similar 1893 would surface? If a comparable coin did surface, at what price?
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Comments
Cameron Kiefer
That piece is absolutely beautiful! Sometime around 1990 or so, I was offered a raw PR 1893 that was considered at the time I think to be one of the finest PR Morgans in existence and was said to be one of the pieces from the huge hoard of over 150 PR Morgans that Harlen White had dispersed. The coin was very similar looking to your pictured piece and incredibly cameoed. I passed on it because I thought the asking price was too high at the time. The owner then sent it to PCGS where it graded PR68 (it was one of the very first Morgans to grade PR68). I heard a number of years later that the same coin was later re-graded a PR69 at PCGS, today, it would also easily qualify as a DCAM. I thought that the coin was the second best PR Morgan possibly only surpassed by that 1898 coin that was graded PR69 by NGC and recently sold by Legend for around $70K I believe (that 1898 coin was regarded as the finest PR Morgan in the world by the NSDR a number of years ago). Anyway, I only mention all this because your pictured piece looks so similar.
It is unusual that for a date that typically comes washed out and with an awfully weak strike, and/or dark unattractive toning, that there are several absolutely superb, ultra cameoed specimens of this date still in existence, they seem to go from one extreme to another. Again, beautiful piece!
Dragon
In honor of the memory of Cpl. Michael E. Thompson
Great story! So tell me, what was the asking price of that particular 1893?
Your remarks regarding the general quality of the typical 1893 proof was one of the reasons I was so impressed with this coin. If it was an 1898, I wouldn't have been quite as thrilled when I first saw it.
Registry 1909-1958 Proof Lincolns
All those were pretty much my reactions! My profit on this coin was almost 0, because the price already seemed kinda steep - but this was one fish I did not want to let get away. It was like having an 800 pound marlin on the line!
Greg
The asking price was around $75000.00 But it was a different market back in '89-'90. I believe that after it was initially graded, it did sell for that amount or close to it.
Dragon
With coins like that out there, no wonder there are so many Morgan collectors!
MarkJude
Mark's Mattes
Mark's Cameo SMS Set
Mark's Non-Cameo SMS Set
Some day.....
We do mail them - private insurance to cover packages over $25,000.
Tbig
Speaking of DCAM's, know of any similar Liberty nickels?
That is an outstanding Morgan.
In another thread the question was asked if the PR 70 DC are really PR 70's.
I have had the pleasure of doing business with you many times.
I purchased a 1980 PR 70 DC SBA from you. This coin is truly a 70 DC.As was said in the thread you sell the best.
Thanks Ray