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: $12.98 (6/2/2015)
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 NGC 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
1895 S$1 PF Cameo
  GVGFVFXF505355586162636465666768
Base $ - - - - - - - - - 55000 60000 70000 77500 97000 125000 155000 185000
$ - - - - - 60000 65000 77500 87500 110000 130000 160000 -
1895 S$1 PF Ultra Cameo
  GVGFVFXF50535558636465666768
Base $ - - - - - - - - - 80000 95000 115000 145000 180000 235000
$ - - - - - 90000 110000 130000 160000 - -

The World Coin Price Guide is independently compiled by Krause Publications’ NumisMaster. NGC makes this information available to its website visitors as a free service, but in no way does the information provided represent NGC’s official opinion or policy. For example, varieties listed in the World Coin Price Guide may not necessarily be recognized by NGC. Please contact NGC Customer Service with any questions.

NGC Price and Value Guides Disclaimer

Census

 
NGC GRADE SUMMARY

Total Graded: 353
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
4/27/1998 NGC PF 64   Teletrade Auction 1044, 1044/Lot# 1942 $23,625.00
2/10/2008 PCGS PF 64   Goldberg February 10-13, 2008 Pre-Long Beach Coin and Currency Auction, 44/Lot# 3138 $49,450.00
2/18/2008 NGC PF 63   Cameo David Lawrence Rare Coins Monday - Internet Auction # 220, 226/Lot# 14 $44,275.00
1/5/2011 PCGS PF 63   Cameo Heritage Auctions 2011 January Tampa FUN Signature & Platinum Night US Coin Auction Session(3), 1151/Lot# 5697 $51,750.00
6/24/2012 PCGS Genuine Genuine   GreatCollections GreatCollections Coin Auctions 06/24/2012, 28/Lot# 58620 $24,750.00
10/17/2012 PCGS   Cameo Stack's Bowers The November 2012 Baltimore Auction - US and World Lots - Live and Internet Only Sessions, 144/Lot# 3189 $54,625.00
2/27/2014 PCGS PF 64   Cameo Heritage Auctions 2014 February 27 - 28 & March 2 Mid-Winter ANA US Coins Signature Auction - Atlanta Session(2), 1203/Lot# 4062 $64,625.00


NGC Registry

NGC Registry Score 1895 S$1 PF
 PrAgGVGFVF4045505355586061626364656667686970
Base728774318058833885158686860687688929904691229234941597561026710571112941237812937140622085925387
73357640815183978572868686608822896890719159929495299926103681081211655125641331216328223680
0000008660882289689071915992949529992610368108121165512564133121632800
00000087148875900790979197935596421009710470110531201712751136871859300
1895 S$1 PF Cameo
 PrAgGVGFVF4045505355586061626364656667686970
Base7607775679068059821483718530869288569022919093619918102261078811197119701311213762147511582619537
7657780679578111826684248584874789119078924795471002110413109241145512351133291409215109170630
000000858487478911907892479547100211041310924114551235113329140921510900
000000863888018967913493049732101231060111061117121273113545144211546800
1895 S$1 PF Ultra Cameo
 PrAgGVGFVF4045505355586061626364656667686970
Base77517901805482098366852586878851901791859356952910093106811129411970127571376214751160422224523077
7801795281068261841985798742890690739242941497171028910885115191223213092140921518118110225220
000000874289069073924294149717102891088511519122321309214092151811811000
000000879689629129929994719905104851109011745124951342714421156122017700
Registry Image Gallery
Grade: PF 67 UC
Points: 15181
Owner: BChap
 
Grade: PF 68 CA
Points: 14751
Owner: Benchmark Ventures LP
 
View the Registry Image Gallery

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