Market Analysis: 1895 Proof Morgan dollar

Leading Stack’s Bowers Galleries’ offering of the Senator Platt Family Collection was a Proof 64 1895 Morgan dollar with a green CAC sticker that realized $72,000.

Image courtesy of Stack's Bowers.

Stack’s Bowers Galleries’ August auctions as an official partner of the American Numismatic Association World’s Fair of Money included the Senator Platt Family Collection, which was started prior to 1870 by Thomas Collier Platt, a U.S. Senator who represented New York in the House and Senate.

Leading the Platt offerings was an 1895 Proof Morgan dollar — known as “the King of the Morgan dollars” — graded Proof 64 by Professional Coin Grading Service and carrying a green Certified Acceptance Corp. sticker that realized $72,000. No Uncirculated survivors are known despite a recorded mintage of 12,000 of them, so collectors must make do with one of the 880 Proof strikes. This reflective example showcased, “vivid, multicolored iridescent undertones to dominant steel-olive and russet patina,” featuring the desirable look of a coin that sat in a coin cabinet for several generations, undisturbed.

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