1894 $1 MS (PCGS# 7228)

2013 September 25 - 29 US Coins Signature Auction - Long Beach #1189

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    6642
  • Grade:
    MS65
  • Price:
    $31,725.00
Lot Description
1894 $1 MS65 PCGS. Silver dollar mintages dropped precipitously after the repeal of the silver purchasing legislation in 1893 and the financial panic that preceded it. Only 110,000 Morgan dollars were struck in 1894, the second-lowest business-strike mintage of the series. Few coins were needed in those hard economic times and most of the mintage was stored in Treasury vaults in the late 19th and early 20th centuries. Undoubtedly, a number were melted under the provisions of the Pittman Act in 1918. Although a few bags were released in the 1950s, the 1894 was not well-represented in the great Treasury releases of the 1960s, with just a few scattered examples surfacing in that holding. Accordingly, the 1894 is an elusive date in all grades today. The present coin is a delightful Gem, with sharply detailed design elements and vibrant cartwheel mint luster throughout. The brilliant surfaces show just a few hints of golden-tan toning and only a few minor contact marks are evident. Eye appeal is tremendous. Population: 20 in 65, 4 finer (8/13).
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