US Coins

Market Analysis: 1889-CC Morgan dollar sells for $30,000

Carson City Mint coins soared at Heritage’s November 11 Premier Session, including this 1889-CC Morgan dollar graded MS-62 Deep Mirror Prooflike by NGC that sold for $30,000.

All images courtesy of Heritage Auctions.

Among the offerings of Carson City Mint coins in Heritage’s Nov. 11 to 14 U.S. Coins Signature Auction were some choice silver dollars, including an 1889-CC Morgan dollar graded Mint State 62 Deep Prooflike by Numismatic Guaranty Co. that sold for $30,000.

The modifier “DPL” is used at NGC to reflect the degree of reflectivity in a coin’s fields — having deeper mirrors than a coin that is merely Prooflike (abbreviated as PL). Professional Coin Grading Service uses the term Deep Mirror Prooflike rather than Deep Prooflike.

The 1889-CC Morgan dollar is a key in the series. Most of its mintage of 350,000 coins was melted, with Mint State survivors, especially ones with dramatic mirror finishes, hard to come by.

Heritage commented on the coin the auction, saying, “Both sides are totally brilliant. Scattered abrasions and a few slide marks explain the grade, but their impact on the aesthetic appeal is minimal.”

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