Here's what a $211,500 1895-O Morgan dollar looks like
- Published: Nov 3, 2015, 7 AM
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:
1895-O Morgan dollar, MS-65 CAC
At first glance, the Coronet Collection’s PCGS MS-65 CAC 1895-O Morgan dollar, showcasing mauve toning with hints of blue, green, and gold, does not fit in with the generally brilliant and untoned coins that the collector favors. But, as Legend notes, “when it came down to it, the other frosty white piece the Coronet Collector had been considering had a miserable line down the center, along with a few other tiny issues,” adding, “Technically, we would grade this coin an MS65+, but we know PCGS prefers frosty white for rare Morgans like this.”
The 1895-O dollar is a rarity in all Mint State grades, with examples above MS-63 especially rare with only a handful existing in grades of MS-65 and finer. On Oct. 15 the Coronet Collection’s example sold for $211,500 (though Legend added in the description that the collector paid more than $200,000 for it).
For comparison Legend sold a less deeply toned example also graded PCGS MS-65+ CAC from the Sunnywood/Simpson set at its October 2014 Regency Auction IX for $258,500.