Mint State 66 1897-O Morgan dollar at Sotheby's sale
- Published: Jun 5, 2018, 5 AM
An 1893-S Morgan dollar in Mint State 65 and an 1884-S dollar graded MS-67, both certified by Professional Coin Grading Service and both with green Certified Acceptance Corp. stickers recognizing quality for the grade, sold for $735,000 each and shared top billing at Sotheby’s May 21 Historic Coins and Medals auction featuring dollars from the Ralph and Lois Stone Collection. The sale totaled $5,094,629.
Among the many lots in the auction, here is one of the unusually well-preserved New Orleans Mint dollars from the mid-1890s that surpassed expectations.
1897-O Morgan dollar, Mint State 66, green CAC Sticker
This 1897-O Morgan dollar with a Certified Acceptance Corp. green sticker soared past its conservative $50,000 to $80,000 estimate, realizing $262,500. As Q. David Bowers has observed with 1897-O dollars, “Once again, the New Orleans Mint workers were just doing their job: turning out massive quantities of dollars, without regard to quality.”
What 1848 large cent is always fake?: One variety of 1848 Coronet cent is always counterfeit. It sells for thousands of dollars while genuine 1848 cents can be bought for $24.
From a mintage of just over 4 million dollars, Professional Coin Grading Service has graded six in Mint State 65, five in MS-66, one MS-66+ and two MS-67 examples. This one is housed in an old green-label PCGS holder. Sotheby’s referenced the two MS-67 examples before concluding, “the current example appears to be fully their equal, if not superior.”
Connect with Coin World:
For comparison, a PCGS MS-66+ example with a green CAC sticker, formerly in the Louis E. Eliasberg Collection and with deep toning, sold for $152,750 at a 2012 Heritage auction. The subject coin was encapsulated more than a decade before the introduction of plus grading, so it may be destined for an upgrade.
MORE RELATED ARTICLES
Paper Money Jun 26, 2022, 12 PM
Paper Money Jun 25, 2022, 12 PM
Paper Money Jun 24, 2022, 2 PM
US Coins Jun 24, 2022, 1 PM