1921-D Morgan dollar MS-67 CAC sells for $30,550: Market Analysis

This week's Market Analysis is focused on Morgan dollars sold as part of the Coronet Collection
By , Coin World
Published : 11/05/15
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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:

The Coin:
1921-D Morgan dollar, MS-67 CAC

The Price:
$30,550

The Story:
In 1921, George Morgan’s classic dollar was struck for the first time since 1904. The new Morgan dollar featured a slightly lower relief and was produced at the Philadelphia Mint, San Francisco Mint, and for the first (and only) time, the Denver Mint.

While the issue is one of the most common Morgan dollars in circulated grades, the population thins in MS-66 with PCGS grading just 10 in MS-67 with PCGS certifying no-finer examples, although an NGC MS-68 example sold for $25,300 at a 2010 Heritage auction.

The Coronet Collection’s 1921-D Morgan dollar grades PCGS MS-67 CAC with surfaces “as velvety smooth as you’ll ever see,” with the description observing, “strong luster illuminates crisp, creamy white/pale gold colors.” Legend cited another similarly graded 1921-D Morgan dollar that brought $44,062.50 at Heritage’s 2013 Central States Numismatic Society auction as a potential comparable, but that example had unusually gorgeous rainbow toning on both sides. At $30,550, the Coronet Collection’s example sold at the low end of its $30,000 to $35,000 estimate. 

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