1901 $1 MS (PCGS# 7272)

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

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    Heritage Auctions
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Lot Description
1901 $1 MS64 PCGS. CAC. This is a remarkable near-Gem example of the conditionally rare 1901 Morgan silver dollar. Despite an impressive mintage of nearly 7 million coins, few have survived in any Mint State grade. Rather than the usual "strike and store" policy that affected most Morgan dollar issues, these coins were actually placed into circulation at the time of issue. Examples that may not have entered circulation almost certainly met their fate under the Pittman Act of 1918. In his Silver Dollar Encyclopedia, David Bowers described the typical Mint State 1901 Morgan dollar: {blockquote}"Most Mint State 1901 dollars are poorly struck and have inadequate luster. A coin that is MS-60 to MS-62 from a technical viewpoint, can be dull and unattractive. As it this were not enough, most show unsightly bagmarks. ... higher grade Mint State dollars exist but are exceedingly rare. The typical specialist in silver dollars will often find that years elapse between stocking coins in as high as MS-63 grade. Forget about MS-64 and MS-65."{/blockquote} For the collector who has a serious interest in this piece, we recommend reading the above comments while viewing the coin in person. The following will be noted: while not fully struck, it is a clear exception to the usual rule of poorly struck coins. Only one or two bagmarks are visible on each side, none "unsightly." Not only does this piece display adequate luster, it is highly lustrous, fully brilliant, and most attractive. This is an amazing near-Gem 1901 Morgan silver dollar, an exceptionally rare and highly desirable coin. It is almost exactly the opposite of the usually seen representative of this date. Population: 23 in 64, 3 finer (6/11).
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