This is the second of three articles about the second auction of Morgan dollars from the Coronet Collection. The first article profiled a common date 1901 Morgan dollar that is rare in high grades.

On Oct. 15, Legend Rare Coin Auctions will offer the second part of the Coronet Collection of Morgan dollars as part of its Regency Auction XIV. The auction will be held at The Bellagio hotel in Las Vegas as part of the Professional Coin Grading Service Members Only coin show. 

A better-known rarity is the Proof 1895 Morgan dollar and the example in the Coronet Collection is graded Proof 67 Deep Cameo by Professional Coin Grading Service. Considered the “King of the Morgans,” the Proof 1895 dollar is collected alongside circulation strike issues by collectors today because of the lack of Philadelphia Mint circulation-strike 1895 Morgan dollars. 

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The offered example is a handsome representative of this key, with Legend writing, “Stunning, watery, ultra deep mirrors beam vividly from all over with remarkable clarity and zero imperfections.” The firm adds, “The nearly blinding reflectivity is off the charts!” 

PCGS has graded five examples Proof 66 Deep Cameo with five more submissions recorded at the Proof 67 Deep Cameo level. No comparable examples have appeared at auction in the past several years, and Legend places an estimate of $135,000 to $150,000 on the Proof dollar, citing the lack of any recent auction comparables as evidence of the coin’s great rarity.