1898-O $1 MS (PCGS# 7254)

2011 January Tampa FUN Signature & Platinum Night US Coin Auction #1151

  • Auctioneer:
    Heritage Auctions
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Lot Description
1898-O $1 MS68 NGC. The 1898-O dollar had a curious effect on the rare coin market when perhaps as many as a thousand bags were released by the Philadelphia Mint in October 1962. It was formerly a key date and virtually unobtainable in Mint condition, but suddenly multiple thousands of examples were available in nice Uncirculated grades. Predictably, the price plummeted from $300-$400 per coin to just over face value. The enormous quantities of 1898-O dollars that were in the 1962 release are generally attractive, ranging from MS63 to MS66 in grade. Yet if the thousand bags of a thousand coins each multiply to a million pieces, this coin is literally a one-in-a-million opportunity. Other than a single piece certified by PCGS as MS68 Deep Mirror Prooflike, it is the finest known by either of the major services. The surfaces are virtually perfect to the unaided eye. Satiny silver surfaces show just a touch of gold-orange color on the rims, and the design definition is astoundingly bold. Census: 1 in 68, 0 finer (11/10).
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