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: $12.47 (12/20/2014)
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
  GVGFVF4045505355586061626364656667686970
Base $ - - - - - - - - - - 18500 20000 23500 31500 46750 80000 125000 - - - -
$ - - - - - - - - - 57500 95000 - - -
NGC Price and Value Guides Disclaimer

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
4/16/2008 NGC PF 64   Heritage Auctions 2008 April Rosemont, IL (CSNS) Signature Coin Auction #1104, 1104/Lot# 2211 $57,500.00
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
Base3333333318872465310434473817456550496820796088499588102261475140000
33333336312079267832183570406647265639720082569095980011734231670
0000003631207926783218357040664726563972008256909598001173400
000000312592272289133323693431548876229758085529341100131324200
1921 MORGAN CHAPMAN S$1 PF Cameo
 PrAgGVGFVF4045505355586061626364656667686970
Base3333333320792699338137474141493568149007104011148312378131462550050000
33333336952285292635033878440555617545947110761117811263417264336660
0000003695228529263503387844055561754594711076111781126341726400
00000031387249231533625400946706187827699361112212079128902138200
1921 MORGAN CHAPMAN S$1 PF Ultra Cameo
 PrAgGVGFVF4045505355586061626364656667686970
Base57259561564066368671373976410661416160917392068248934454581532662787839972340100
57960162364767069572174786411821480165218482208280738234829564367988467198480
0000007217478641182148016521848220828073823482956436798846700
0000007307559651299154416951958234831264202507759607318909500
Registry Image Gallery
Grade: PF 67
Points: 9800
Owner: BChap
 
Grade: PF 67
Points: 9800
Owner: First Strike Society
 
View the Registry Image Gallery

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