1894 $1 MS (PCGS# 7228)

2010 June Long Beach, CA Signature US Coin Auction #1140

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    1177
  • Grade:
    MS65
  • Price:
    $43,125.00
Lot Description
1894 $1 MS65 PCGS. CAC. Ex: PCGS Tour. If not for the famously low mintage of the 1893-S issue, the 1894 would be far more famous. As it is, the 1894 has attained considerable cachet, despite its mintage exceeding that of the 1893-S by 10,000 coins. This Philadelphia date was not immediately recognized as a rarity, since contemporary collectors were more focused on proofs than business strikes, and a few bags of 1894 Morgans were included in the Treasury releases. Soon afterward, however, it became apparent that existing supplies of the 1894 dollar would not keep up with increasing demand. Today, the 1894 is considered one of the keys to the set, particularly in better Mint State grades. In the traveling exhibition put on by PCGS in the early 1990s that showcased the finest Morgan dollars certified by that firm, this coin represented the 1894 issue. Though four finer examples have been certified by PCGS since the days of the Tour (4/10), this Gem representative still commands great respect among Morgan dollar aficionados. The overall design definition is solid, if a trifle weak at the central obverse, and the luster is frosty overall. Faintly textured surfaces are pale silver with just a suggestion of tan color along the rims. Both sides are minimally abraded, with just a few tiny marks and luster scrapes visible. A carefully preserved coin with uncommon eye appeal, sure to be prized by its next owner.
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