Coin Specifications

Category: Morgan Dollars (1878-1921)
Mint: Philadelphia
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: $12.21 (4/26/2015)
Diameter: 38.1mm
Edge: Reeded
Numismatic specification data provided by Krause Publications NumisMaster.
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1921 MORGAN CHAPMAN S$1 PF obverse 1921 MORGAN CHAPMAN S$1 PF reverse


  
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Description & Analysis

This is very likely the rarest proof Morgan dollar (a term that acquires special meaning in conjunction with this issue, as we will soon see), particularly since many expert numismatists, Q. David Bowers among them, exclude the controversial Zerbe proofs as merely prooflike dollars struck from hairlined dies.

The story of the creation of the Chapman proofs bears repeating here (courtesy of Bowers Silver Dollar Encyclopedia:

In 1921, [coin dealer] Henry Chapman went to the Mint and had some mirror-surface Proofs struck to his order. This was done clandestinely by or for George T. Morgan, chief engraver, who had a little 'rare coin business' going on the side. Walter H. Breen reported that he has seen 'the bill of sale for 10 Proofs, Morgan to Chapman.' The original production of mirror-type Proofs must have been very small, perhaps just 15 in all (10 to Chapman, five to Ambrose Swasey). They were not officially sold by the mint, nor were any proof sets made that year.

Further down in Bowers' discussion he quotes Walter Breen concerning diagnostics of the Chapman proofs or, as Bowers calls them, 'mirror-surface Proofs':

On the five Proofs Engraver Morgan sold to Ambrose Swasey, 6/4/21, and the 10 Morgan sold to Henry Chapman a week later, a short line points from rim to third star, and ends about 1 mm away, two die polish lines up from rim to first 1, hollow around Morgan's initial M (from overpolished die). Reverse dash between right star and wreath, touching neither, another, fainter, slanting up from left upright of I(CA), a third between S(T) and I of [IN], touching neither, faint scattered die striations around UN AM RICA

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: 3/10/2014

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1921 MORGAN CHAPMAN S$1 PF
  GVGFVFXF5053555861626364656667686970
Base $ - - - - - - - - - 20000 23500 31500 46750 80000 125000 - - - -
$ - - - - - - - - 57500 95000 - - -

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.

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Census

 
NGC GRADE SUMMARY

Total Graded: 22
Low Grade: 62
Average Grade: 63
High Grade: 66


Upcoming Auctions


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
4/28/2009 PCGS PF 64   Heritage Auctions 2009 April-May Cincinnati, OH (CSNS) US Coin Auction #1124, 1124/Lot# 2649 $34,500.00
8/11/2011 NGC PF 65   Heritage Auctions 2011 August Chicago Signature US Coin & Platinum Night Auction Session(5), 1158/Lot# 7396 $74,750.00
8/11/2011 PCGS PF 64   Cameo Heritage Auctions 2011 August Chicago Signature US Coin & Platinum Night Auction Session(5), 1158/Lot# 7381 $57,500.00
1/24/2012 NGC PF 63   Stack's Bowers The January 2012 Americana Sale, 134/Lot# 10251 $23,000.00
1/29/2012 NGC PF 64   Goldberg January 29 - February 1, 2012 The Pre-Long Beach Auction, 67/Lot# 2695 $35,650.00
4/24/2013 NGC PF 65   Heritage Auctions 2013 April 24 - 28 CSNS US Coin Signature Auction - Chicago Session(5), 1184/Lot# 4424 $61,687.50


NGC Registry

NGC Registry Score 1921 MORGAN CHAPMAN S$1 PF
 PrAgGVGFVF4045505355586061626364656667686970
Base5269538254975614573358535976610062266354648466166820725881069361112941311213723143561540919050
5307542055365654577358946017614262696397652866846966754185241000511900133161393414707166230
000000601761426269639765286684696675418524100051190013316139341470700
000000605961846311644165726752711278238943106501250613519141451505800
1921 MORGAN CHAPMAN S$1 PF Cameo
 PrAgGVGFVF4045505355586061626364656667686970
Base5481559757165836595860826208633664666597673168667077752683979685116651352714152147991587719596
5520563757565877599961246251637965106642677669367227781688261034512286137351436815158171170
000000625163796510664267766936722778168826103451228613735143681515800
000000629364236553668668217007737681079256110051290613944145831551800
1921 MORGAN CHAPMAN S$1 PF Ultra Cameo
 PrAgGVGFVF4045505355586061626364656667686970
Base57259561564066368671373976410661416160917392068248934454581532662787839972340100
57960162364767069572174786411821480165218482208280738234829564367988467198480
0000007217478641182148016521848220828073823482956436798846700
0000007307559651299154416951958234831264202507759607318909500
Registry Image Gallery
Grade: PF 67
Points: 13934
Owner: BChap
 
Grade: PF 67
Points: 13934
Owner: First Strike Society
 
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