||The August 2013 Chicago ANA World's Fair of Money
||Amazing 1889-CC Morgan Dollar
MS-68 PCGS - Ex: Mills, Clapp Eliasberg, Jack Lee 2 - Finest Certified by Three Grading Points
1889-CC Morgan Silver Dollar. MS-68 (PCGS).
All bets will be off, the room will be up for grabs and the sky will be the limit when this crosses the auction block! We expect a lot of excitement. In addition to the Ultra Gem grade there is no finer pedigree than the Louis E. Eliasberg Collection. This smooth and silky Morgan dollar softly mingles mint brilliance with a casual blend of champagne gold throughout, all coupled with rich royal blue, crimson, and deep gold at the rims and among the devices. Try as you might, even under low magnification, you won't find a mark or blemish worthy of discussion here. Well-known as the rarest of all dates in the Carson City Morgan dollar series -- with only the 1879-CC and the 1893-CC issues giving it a run for the money but only in the lower range of Mint State -- the 1889-CC blossoms into its true rarity status at MS-64 or so. Once you move beyond a MS-64 piece, you are in territory as rare as the coin itself. The present Gem is undoubtedly the finest certified example of the date from any major third-party grading service;it is three grading points finer than the next-best graded from PCGS, that piece "just" MS-65. It is a full grading point finer than the best the NGC Census has to report. The pedigree is as impeccable as the coin itself, having resided in the collections of John G. Mills, sold by S. & S.H. Chapman in April 1904 -- Mills evidently hand-picked the coin at a time when collecting branch mint coinage was in its infancy in America; J.M. Clapp; John H. Clapp; the Clapp Estate; Richard E. Eliasberg, Sr., in which collection it remained for 55 years before making its next public auction debut. When offered by Bowers and Merena in the landmark sale of the Louis E. Eliasberg, Sr. Collection, April 1997, lot 2280, the then-uncertified piece -- called MS-66 in the catalog -- realized $462,000 after an intense bidding war. In today's robust numismatic market, we have reason to believe the present spectacular 1889-CC dollar will do exceedingly well. If you want the finest available example, you must be prepared to bid strongly and quickly. An item such as this beautiful 1889-CC dollar is likely to disappear from the marketplace and not return for a long period of time once its next steward adds his or her name to the pedigree chain of this well-known and highly desirable rarity.
Provenance: From S.H. and H. Chapman's sale of the John G. Mills Collection, April 1904; Ex: J.M. Clapp; John H. Clapp; Clapp estate, 1942, to the following; from our (Bowers and Merena's) sale of the Louis E. Eliasberg, Sr. Collection, April 1997, lot 2280; B&M 1/01 Rarities Sale lot 336: Jack Lee II Collection; from Heritage's sale of the Jack Lee Collection, III, November 2005, lot 2300 (unsold); and Heritage's sale of the Estate of Jack Lee Collection, January 2009, lot 4991.
PCGS Population: 1; none tied with or finer than within any designation.