Thirty-two Morgan dollars from Part
II of the Coronet Collection starred in Legend Rare Coin
Auctions Oct. 15 Regency Auction XIV in Las Vegas. The 355-lot sale
realized $4,926,775.10 — nearly half of which came from the Coronet
Collection’s dollars, with its Mint State 66 1901 Morgan dollar that
brought $587,500 leading the sale.
The firm’s partner and founder Laura Sperber said, “We knew the
dollars would be strong, but they exceeded our expectations,” adding,
“the strength of this sale more than proved that collectors are hungry
for quality and will pay for it when available.”
Here is one of three that we're profiling in this week's Market Analysis:
1894 Morgan dollar, MS-66+ CAC
Legend’s offering of Part II of the Coronet Collection of
Morgan Dollars started with a bang, as the first lot, an 1894 dollar
graded Mint State 66+ by Professional Coin Grading Service with a
green Certified Acceptance Corp. sticker, brought $152,750 against an
estimate of $75,000 to $85,000.
The 1894 Morgan dollar is a classic key in the series with a low
mintage of just 110,000 pieces. Examples trade infrequently and this
dollar last traded for $74,750 at Heritage’s 2009 Florida United
Numismatists auction. Then graded PCGS MS-66 CAC (without the plus
sign), that offering represented the last appearance of this issue in
this grade at auction.
It is the finest graded by PCGS and was part of Jack Lee’s second
collection of Morgan dollars. Characterizing the eye appeal as
fantastic, Legend’s description compared the coin’s overall look to an
1879-S Morgan dollar, an issue that is well-known for its high
production quality, before calling it “the undisputed finest” example
of an 1894 dollar.