Coin Specifications

Category: Morgan Dollars (1878-1921)
Mint: Philadelphia
Mintage: 880
Catalog: KM-110
Obverse Designer: George T. Morgan
Reverse Designer: George T. Morgan
Composition: Silver
Fineness: 0.9000
Weight: 26.7300g
ASW: 0.7734oz
Melt Value: $15.17 (8/28/2014)
Diameter: 38.1mm
Edge: Reeded
Numismatic specification data provided by Krause Publications NumisMaster.
Link to this coin

1895 S$1 PF obverse 1895 S$1 PF reverse


  
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VarietyPlus®

There are no varieties for this coin.

Description & Analysis

Among proof Morgan dollars, the 1895 is the date with the most cachet, and more than a century of numismatic scholarship has justified its position as the "King of the Morgan Dollars." Ownership of an example, even a worn or impaired piece, is a sign of numismatic connoisseurship, and it is hardly a surprise that so outstanding a set as the Morgan dollars of the Jackson Hole Collection would have an example. The exquisite preservation and contrast of this specimen practically assure that it will become the cornerstone of another great set.

Several 19th century proof issues in American numismatics benefit from their association with key-date business strikes from Philadelphia. Coins such as the 1877 cent and 1885 and 1886 nickels command a dramatic premium in proof format, even though their rarity as proofs may be equal to that of specimens from nearby years. By contrast, certain proof-only issues attract the attention of fewer buyers, and they may trade for comparatively less. In fact, a number of proof-only dates in less popular series, coins such as the 1886 three cent nickel, exhibit only a modest spike in price.

The 1895 Morgan dollar intersects with these two classes in fascinating ways, and certain collectors choose not to obtain an example, since they consider it a proof-only issue. Mint records report 880 proofs, and many authorities believe the coins have a high rate of survival, with typical estimates between 600 and 700 specimens. The 12,000 regular-issue pieces listed for the year, however, are considerably more controversial. Among the sweeping retrospectives of Walter Breen's essential Complete Encyclopedia is his assessment of the 1895 dollars: "No business strikes known, though they were struck from at least one of the 5 obvs. and 4 revs. made for this mintage."

Few of Breen's statements have gone unchallenged, however, and in his 1993 work Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia, Volume Two, Q. David Bowers questioned the existence of circulation-strike examples, not just in the present, but in the past as well: "It is presumed that the entire mintage, if indeed it ever existed, consisting of only 12 mint bags, went to the melting pot under the provisions of the Pittman Act of 1918." He concluded that there was significant evidence that the 12,000 circulation-strike 1895 dollars listed in the Mint's ledger were something else entirely. Roger W. Burdette (2006) has re-established the idea that the 12,000 pieces were struck but never left government vaults.

Yet generations of numismatists have held out hope for 1895 business strikes, through mass meltings and fruitless searches of bags released by the Treasury, and countless empty holes in as many cardboard folders save space for one. In many ways, what actually happened does not matter so much as what so many collectors have assumed, and even if absolutely conclusive evidence came to light that the 1895 dollar was a proof-only issue all along, enthusiasm for specimens would continue undiminished.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


GRADE SUMMARY

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Price Guide

Last Updated: 3/24/2014

Click on a price to see historical prices, comparison charts and trends.

1895 S$1 PF
  GVGFVF40455053555860616263646566676869
Base $ 25000 31000 34000 36000 38000 38000 39000 41000 42500 43500 45000 47500 52500 54500 66000 80000 105000 120000 155000 562500
$ - - - - - - 52500 55000 61000 72000 95000 120000 150000 -
1895 S$1 PF Cameo
  GVGFVF4045505355586162636465666768
Base $ - - - - - - - - - - 55000 60000 70000 77500 95000 125000 145000 180000
$ - - - - - 60000 65000 77500 87500 110000 130000 155000 -
1895 S$1 PF Ultra Cameo
  GVGFVF404550535558636465666768
Base $ - - - - - - - - - - 80000 95000 115000 145000 180000 235000
$ - - - - - 90000 110000 130000 160000 - -
NGC Price and Value Guides Disclaimer

Census

 
NGC GRADE SUMMARY

Total Graded: 358
Low Grade: G
Average Grade: 63
High Grade: 69


Upcoming Auctions


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
7/26/2003 NGC PF 64   Cameo Heritage Auctions 2003 July Baltimore, MD. Signature Sale #328, 328/Lot# 8977 $29,900.00
9/6/2004 PCGS PF 62   Goldberg September 6-7, 2004 Pre-Long Beach Coin Auction, 26/Lot# 1118 $43,700.00
9/19/2005 NGC PF 68   Goldberg September 19-21, 2005 Pre-Long Beach Coin and Currency Auction, 32/Lot# 2078 $115,000.00
10/17/2005 NGC PF 65   Cameo David Lawrence Rare Coins Internet-Only Auction #58, 63/Lot# 1014 $661.25
1/7/2007 PCGS PF 61   Teletrade Auction 2309, 2309/Lot# 1962 $44,800.00
8/15/2011 NGC PF 64   Cameo Stack's Bowers The August 2011 Chicago ANA World's Fair of Money Auction, 115/Lot# 7450 $43,700.00
5/27/2012 PCGS PF 65   Cameo Goldberg May 27-31, 2012 The May Pre-Long Beach Auction, 69/Lot# 1461 $63,250.00
6/24/2012 PCGS Genuine Genuine   GreatCollections GreatCollections Coin Auctions 06/24/2012, 28/Lot# 58620 $24,750.00
5/5/2013 NGC PF 60   GreatCollections GreatCollections Coin Auctions 05/05/2013, 73/Lot# 112444 $38,500.00


NGC Registry

NGC Registry Score 1895 S$1 PF
 PrAgGVGFVF4045505355586061626364656667686970
Base604763066672752180198356843685158593864487198768957599581026310515111411178212049127342085925000
613364286955768781318382846285418610866987359037970210059103471072311354118711227715442222390
00000084628541861086698735903797021005910347107231135411871122771544200
00000084888567862786948751930698301016110431109321156811960125051815000
1895 S$1 PF Cameo
 PrAgGVGFVF4045505355586061626364656667686970
Base6281654869247796830786548736881788968949902690769904102961060910867115091216512439131402144331000
6370667372147966842286818763884389138974904293521003410400106951108111727122561267215907246280
000000876388438913897490429352100341040010695110811172712256126721590700
000000879088698931900090599628101651050410781112951194612347129061867500
1895 S$1 PF Ultra Cameo
 PrAgGVGFVF4045505355586061626364656667686970
Base66066883727381778706906591509234931693709450950210358107641108711354120171269412976136992224538500
6698701375748353882590939178926193349396946797871049310871111761157512242127881321716547276630
000000917892619334939694679787104931087111176115751224212788132171654700
0000009206928893529423948410072106281097911265117961246812882134581939600
Registry Image Gallery
Grade: PF 67 UC
Points: 13217
Owner: BChap
 
Grade: PF 68 CA
Points: 13140
Owner: Benchmark Ventures LP
 
View the Registry Image Gallery

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