US Coins

Trio of Proof 1895 Morgan dollars shine in auction

Heritage’s April 26 to 30 Central States Numismatic Society U.S. coin auctions in Schaumburg, Ill., offered three Proof 1895 Morgan silver dollars. The first of the three — graded Proof 63 by PCGS — sold for $54,050. Next up was an example graded Proof 64 Cameo by PCGS that sold for $58,750. The most impressive was one graded PCGS Proof 67 Deep Cameo that brought $199,750. 

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The issue has long been popular with collectors since no 1895 Morgan dollars were struck at the Philadelphia Mint for circulation, leaving collectors only with 880 Proof coins struck from this year. Heritage characterized the finest of the three as having “terrific” eye appeal, adding, “The present coin is a magnificent Superb Gem representative of this fabulous key date, with razor-sharp definition on all design elements and deeply mirrored fields that create intense cameo contrast with the frosty devices.” 

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Also offered was one of the finest-known Proof Morgan dollars of any date — an 1896 dollar graded Proof 69 Ultra Cameo by Numismatic Guaranty Corp. With a mintage of 762, fewer Proof Morgan dollars were struck in 1896 when compared with the famous 1895, but the existence of millions of Philadelphia Mint 1896 circulation strikes means that Proof coins of this year are a “type coin” among Proof Morgan dollars. 

The Proof 1896 Morgan dollars are well-known for having strong cameo contrast, with frosty devices set against deeply mirrored fields, and just two die pairs were used to strike the entire mintage. On the nearly flawless coin, Heritage writes, “The white-on-black cameo flash is truly spectacular when this coin is tilted in the light. The brilliant surfaces are just one tick away from technical perfection, but a small planchet lamination on the reverse, through T in UNITED, can serve as a pedigree marker.” The stunner sold for $82,250.

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