1895-O $1 MS (PCGS# 7236)

2011 September Long Beach Signature US Coin Auction #1159

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    3741
  • Grade:
    MS63
  • Price:
    $38,813.00
Lot Description
1895-O $1 MS63 PCGS. The 1895-O is one of those Morgan dollar issues that sees ceaseless demand in all grades from Good 4 upward to the highest Mint State grades, where it is a legendary rarity in the series. There are a great number of 1895-O dollars available in circulated grades. Most certified survivors at PCGS are in the range of Very Fine to low AU. In Mint State the population thins out by an order of magnitude, with most of those coins in the lower Mint State grades of MS60 to MS62. In MS63 this coin is one of only 19 pieces so certified at PCGS, and there are 17 finer (8/11). In his Guide Book of Morgan Silver Dollars, Q. David Bowers writes: {blockquote} "The 1895-O emerged as the single circulation-strike variety that is not known to have been a part of any Treasury releases via bags. ... I have heard suggestions that from several dozen to a couple hundred Mint State coins came out of the Treasury Building in the early 1950s, but how they would grade today is anybody's guess. Uncirculated coins of years ago are often classified as AU today. I have found no account or even a rumor of any being a part of the 1962 through 1964 Treasury release." {/blockquote} The original mintage of the date was only 450,000 pieces, and from the grades cited above, it is obvious that most of those coins circulated, at least for a short while. Their absence from the Treasury silver hoards is another reason for their scarcity today. This Select Mint State piece would fit right at home in a high-Mint State set of Morgan dollars. There is pale golden color seen on both sides, with the fields showing just a hint of reflectivity. The striking details are strongly brought up in the centers, and there are no mentionable abrasions on either side.
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